Author

Topic: China will destroy bitcoin (Read 3081 times)

newbie
Activity: 2
Merit: 1018
April 28, 2016, 12:12:07 PM
#71
Why is the last block mined more than 6 hours old?

https://blockchain.info/

Edit: seems to be just a glitch on the timestamp displayed.
newbie
Activity: 56
Merit: 0
April 28, 2016, 07:45:26 AM
#70
With China now owing about 75% of the mining power i think in all their greed they will destroy bitcoin.
They will never allow the protocol to change to accept larger blocks since it's not in their interest.
You don't have much time left to sell your bags.
When they have 75% of bitcoin mining power,why would they allow bitcoin to be destroyed?I think there must be a difference of opinions within Chinese mining community and some of them will try and persue for larger blocks
More mining farms are there in China which is never known in most of the countries, it's their wealth to have all these bitcoin resources in their country, so definitely they won't destroy bitcoin in anyway as they are earning more from it .

Help me with this fairy tale conundrum:
1. Most Ford factories are in Equestria.
2. Ponies won't destroy Ford because they make Fords, they're earning from Ford.
3. (Problem): GM (altcoin) offers ponies a better contract; Equestrian machinery can make GM cars with minimum of retooling; RIP Ford.
wat do?
legendary
Activity: 2688
Merit: 1106
DGbet.fun - Crypto Sportsbook
April 28, 2016, 06:01:55 AM
#69
With China now owing about 75% of the mining power i think in all their greed they will destroy bitcoin.
They will never allow the protocol to change to accept larger blocks since it's not in their interest.
You don't have much time left to sell your bags.
When they have 75% of bitcoin mining power,why would they allow bitcoin to be destroyed?I think there must be a difference of opinions within Chinese mining community and some of them will try and persue for larger blocks
More mining farms are there in China which is never known in most of the countries, it's their wealth to have all these bitcoin resources in their country, so definitely they won't destroy bitcoin in anyway as they are earning more from it .
legendary
Activity: 1937
Merit: 1001
April 27, 2016, 04:59:03 PM
#68
Would people be as worried if 70% of the hashing power was in the US or Europe?

Of course. It's not about the country, it's about basically a hand full of people owning and controlling the entire network.
newbie
Activity: 2
Merit: 1018
April 27, 2016, 02:51:50 PM
#67
Would people be as worried if 70% of the hashing power was in the US or Europe?
legendary
Activity: 2688
Merit: 1026
Hire me for Bounty Management
April 27, 2016, 02:16:36 PM
#66
With China now owing about 75% of the mining power i think in all their greed they will destroy bitcoin.
They will never allow the protocol to change to accept larger blocks since it's not in their interest.
You don't have much time left to sell your bags.
When they have 75% of bitcoin mining power,why would they allow bitcoin to be destroyed?I think there must be a difference of opinions within Chinese mining community and some of them will try and persue for larger blocks
hero member
Activity: 644
Merit: 503
April 27, 2016, 02:06:58 PM
#65
...

Sorry, lambie. If you can't work out what "it's ridiculous to say that 70% of miners are Chinese because 70% of mining currently occurs in Chinese pools" means all by your lonesome I doubt I can't help.
newbie
Activity: 56
Merit: 0
April 27, 2016, 01:55:45 PM
#64
No. I'm saying "it's ridiculous to say that 70% of miners are Chinese because 70% of mining currently occurs in Chinese pools." Again. Do pay attention.
Sounds strangely similar Undecided
Quote
"It is unreasonable to infer that most miners are Chinese from the fact that most of the mining pools are located in China. Though all available data point to this conclusion,
http://s10.postimg.org/6eb2y2f7t/Capture.png
and all a priori reasoning, from lower electrical costs to ASIC manufacture/labor/shipping etc., the evidence is purely circumstantial"?
I might've been overly helpful by filling in a few blanks for you, but you go ahead and tell me the part s you disagree with, and I'll correct 'em Smiley

Quote
I'm not sure why you believe miners don't change pools. I tend to look at this every few days and the wedges are rarely static. Even assuming you were right, and miners haven't been switching pools recently - it's a bit of a stretch to assume that that will remain the case.
I, in turn, am unsure why you think I think that they don't change pools. Again, If you just cite the part that led you to such an erroneous conclusion, I'll try to fix it.

Quote
I'm also not sure why you think I should be surprised that miners' interests may not align with hodlers' interests. Aside from it being kinda obvious, I accepted that miners were the decision makers when I first read the whitepaper and in the years since nothing has changed.
Ditto. English is a bitch for me, so if you could point to the bit that mislead you, I'd be forever in your debt.

Quote
I'm also also not sure why you think a group of pool operators and devs meeting should worry me. They were deciding a development roadmap, one that will be presented to miners. Who will then be free to accept or reject. Which rather sounds like... exactly how it's always been.
Meh. Pool owners & devs decide on the roadmap,  miners and Bitcoin hodlers unaffected Undecided
hero member
Activity: 644
Merit: 503
April 27, 2016, 01:23:15 PM
#63
How you get that figure of 70% of total miners are from china? is there any source and any source of their statement of them not accpting huge block? THis is just a pointless hype in my point of view.

70%? I assume it's based on pools - https://blockchain.info/pools. It's like, back in the day, saying that every (non-solo) miner comes from the Czech Republic because Slush's pool is the only pool. Except no one thought that, because obviously it would have been nonsense.

Are you saying it's ridiculous to assume that most of the mining (both pools and mining farms) is done in China?

No. I'm saying it's ridiculous to say that 70% of miners are Chinese because 70% of mining currently occurs in Chinese pools. At one point 100% of pools were Czech (all one of them - Slush's pool) - 100% of miners were not Czech! (Well, to be fair it's possible that "100% - me" were Czech. But frankly I doubt it).
So you're saying is "It is unreasonable to infer that most miners are Chinese from the fact that most of the mining pools are located in China. Though all available data point to this conclusion,

and all a priori reasoning, from lower electrical costs to ASIC manufacture/labor/shipping etc., the evidence is purely circumstantial"?

... other miners from other parts of the world could just connect to those pools and work under it to get some stable or increased profit (?).

They could, and could possibly overcome disadvantages like x2 - x20 electrical costs, shipping costs, real estate costs, economics of scale, etc., etc., but what does it matter when it's the pool operators, not the miners, who set the rules? The only thing they can do is switch pools, but ...they clearly don't.

No. I'm saying "it's ridiculous to say that 70% of miners are Chinese because 70% of mining currently occurs in Chinese pools." Again. Do pay attention.

I'm not sure why you believe miners don't change pools. I tend to look at this every few days and the wedges are rarely static. Even assuming you were right, and miners haven't been switching pools recently - it's a bit of a stretch to assume that that will remain the case.

I'm also not sure why you think I should be surprised that miners' interests may not align with hodlers' interests. Aside from it being kinda obvious, I accepted that miners were the decision makers when I first read the whitepaper and in the years since nothing has changed.

I'm also also not sure why you think a group of pool operators and devs meeting should worry me. They were deciding a development roadmap, one that will be presented to miners. Who will then be free to accept or reject. Which rather sounds like... exactly how it's always been.
newbie
Activity: 56
Merit: 0
April 27, 2016, 12:54:33 PM
#62
How you get that figure of 70% of total miners are from china? is there any source and any source of their statement of them not accpting huge block? THis is just a pointless hype in my point of view.

70%? I assume it's based on pools - https://blockchain.info/pools. It's like, back in the day, saying that every (non-solo) miner comes from the Czech Republic because Slush's pool is the only pool. Except no one thought that, because obviously it would have been nonsense.

Are you saying it's ridiculous to assume that most of the mining (both pools and mining farms) is done in China?

No. I'm saying it's ridiculous to say that 70% of miners are Chinese because 70% of mining currently occurs in Chinese pools. At one point 100% of pools were Czech (all one of them - Slush's pool) - 100% of miners were not Czech! (Well, to be fair it's possible that "100% - me" were Czech. But frankly I doubt it).
So you're saying is "It is unreasonable to infer that most miners are Chinese from the fact that most of the mining pools are located in China. Though all available data point to this conclusion,
http://s10.postimg.org/6eb2y2f7t/Capture.png
and all a priori reasoning, from lower electrical costs to ASIC manufacture/labor/shipping etc., the evidence is purely circumstantial"?

... other miners from other parts of the world could just connect to those pools and work under it to get some stable or increased profit (?).

They could, and could possibly overcome disadvantages like x2 - x20 electrical costs, shipping costs, real estate costs, economics of scale, etc., etc., but what does it matter when it's the pool operators, not the miners, who set the rules? The only thing they can do is switch pools, but ...they clearly don't.
legendary
Activity: 3542
Merit: 1352
April 27, 2016, 12:22:25 PM
#61
Oh it's you again! Cheesy

Seriously, dude, 70% of the hashpower of the whole network doesn't necessarily mean that all of those miners are Chinese; other miners from other parts of the world could just connect to those pools and work under it to get some stable or increased profit (?).

-snip-
They will never allow the protocol to change to accept larger blocks since it's not in their interest.
-snip-

This is a bold statement. Where'd you get this information?
hero member
Activity: 644
Merit: 503
April 27, 2016, 12:09:38 PM
#60
How you get that figure of 70% of total miners are from china? is there any source and any source of their statement of them not accpting huge block? THis is just a pointless hype in my point of view.

70%? I assume it's based on pools - https://blockchain.info/pools. It's like, back in the day, saying that every (non-solo) miner comes from the Czech Republic because Slush's pool is the only pool. Except no one thought that, because obviously it would have been nonsense.

Are you saying it's ridiculous to assume that most of the mining (both pools and mining farms) is done in China?

No. I'm saying it's ridiculous to say that 70% of miners are Chinese because 70% of mining currently occurs in Chinese pools. At one point 100% of pools were Czech (all one of them - Slush's pool) - 100% of miners were not Czech! (Well, to be fair it's possible that "100% - me" were Czech. But frankly I doubt it).

Miners have a choice which pool to use - or even if they mine in a pool, or go solo (though this choice really isn't much of a choice anymore, obviously, but still).

Edit: sorry, just realised the Slush comment was redundant. Apparently I can't read my own comments.
sr. member
Activity: 434
Merit: 250
April 27, 2016, 12:01:37 PM
#59
How you get that figure of 70% of total miners are from china? is there any source and any source of their statement of them not accpting huge block? THis is just a pointless hype in my point of view.

70%? I assume it's based on pools - https://blockchain.info/pools. It's like, back in the day, saying that every (non-solo) miner comes from the Czech Republic because Slush's pool is the only pool. Except no one thought that, because obviously it would have been nonsense.

Are you saying it's ridiculous to assume that most of the mining (both pools and mining farms) is done in China?

it is and there are 2 parties here at play.
The Chinese Government who wants to regulate bitcoin as much as they can. And the companies who are into bitcoin mining or bitcoin itself (exchanges).
So it could be dangerous because the chinese government is not being praised for their democracy.
hero member
Activity: 644
Merit: 503
April 27, 2016, 10:26:20 AM
#58
How you get that figure of 70% of total miners are from china? is there any source and any source of their statement of them not accpting huge block? THis is just a pointless hype in my point of view.

70%? I assume it's based on pools - https://blockchain.info/pools. It's like, back in the day, saying that every (non-solo) miner comes from the Czech Republic because Slush's pool is the only pool. Except no one thought that, because obviously it would have been nonsense.

Except that it's not nonsense because the chinese are in control of that mining power that people put to their pools.

Oh, sorry, I knew the PRC was totalitarian but preventing miners from leaving pools takes it to a new level. Crikey.
newbie
Activity: 56
Merit: 0
April 27, 2016, 10:21:47 AM
#57
How you get that figure of 70% of total miners are from china? is there any source and any source of their statement of them not accpting huge block? THis is just a pointless hype in my point of view.

70%? I assume it's based on pools - https://blockchain.info/pools. It's like, back in the day, saying that every (non-solo) miner comes from the Czech Republic because Slush's pool is the only pool. Except no one thought that, because obviously it would have been nonsense.

Are you saying it's ridiculous to assume that most of the mining (both pools and mining farms) is done in China?
hero member
Activity: 644
Merit: 500
April 27, 2016, 10:18:45 AM
#56
Although China dominating mining but still the they cant rule  the bitcoin.
legendary
Activity: 1937
Merit: 1001
April 27, 2016, 10:13:13 AM
#55
How you get that figure of 70% of total miners are from china? is there any source and any source of their statement of them not accpting huge block? THis is just a pointless hype in my point of view.

70%? I assume it's based on pools - https://blockchain.info/pools. It's like, back in the day, saying that every (non-solo) miner comes from the Czech Republic because Slush's pool is the only pool. Except no one thought that, because obviously it would have been nonsense.

Except that it's not nonsense because the chinese are in control of that mining power that people put to their pools.
hero member
Activity: 644
Merit: 503
April 27, 2016, 07:52:41 AM
#54
How you get that figure of 70% of total miners are from china? is there any source and any source of their statement of them not accpting huge block? THis is just a pointless hype in my point of view.

70%? I assume it's based on pools - https://blockchain.info/pools. It's like, back in the day, saying that every (non-solo) miner comes from the Czech Republic because Slush's pool is the only pool. Except no one thought that, because obviously it would have been nonsense.
legendary
Activity: 994
Merit: 1000
April 27, 2016, 07:47:22 AM
#53
How you get that figure of 70% of total miners are from china? is there any source and any source of their statement of them not accpting huge block? THis is just a pointless hype in my point of view.
sr. member
Activity: 308
Merit: 250
April 27, 2016, 06:46:43 AM
#52
China is helping Bitcoin, by banning it they help more  Wink

Bitcoin is not banned in China. It is recognised officially as a commodity. You can trade it legally there.
member
Activity: 84
Merit: 10
April 14, 2016, 08:11:18 PM
#51
Who owns the most USD outside of the states!
Dollar has not collapsed, so would expect the same with bitcoin. China has been pumping the real estate all over the world and no crashes yet.
sr. member
Activity: 433
Merit: 250
BTG CEO
April 14, 2016, 07:30:09 PM
#50
China is helping Bitcoin, by banning it they help more  Wink
legendary
Activity: 1218
Merit: 1007
April 14, 2016, 07:02:54 PM
#49
I doubt China will destroy Bitcoin, if anything it will be overall more beneficial for Bitcoin because it will open up to wider markets.

There is no way China can just show up and destroy Bitcoin one day, maybe it will force people to add more mining power, but it certainly won't just destroy it.
sr. member
Activity: 252
Merit: 250
April 14, 2016, 06:35:10 PM
#48
If China kills Bitcoin, China kills china.
Many jobs would be lost. Even more worse money flown out of china would never come back to china since people have to pay extra tax again.

LOL OP don't have a clue how china is controlling bitcoin. They own the pools, the hash equipment and yes even the most amount of bitcoins.
How will they kill bitcoin again?

Everyone has to start somewhere.. so atleast the op asked on why china is at some what type of involvement.

But digging deeper to your pool, its not just pool. Its also cause they have been the #1 producers selling the miners itself to allow that happen.
sr. member
Activity: 350
Merit: 250
April 08, 2016, 05:58:01 PM
#47
If China kills Bitcoin, China kills china.
Many jobs would be lost. Even more worse money flown out of china would never come back to china since people have to pay extra tax again.

LOL OP don't have a clue how china is controlling bitcoin. They own the pools, the hash equipment and yes even the most amount of bitcoins.
How will they kill bitcoin again?
sr. member
Activity: 350
Merit: 250
April 08, 2016, 05:01:40 PM
#46
If China kills Bitcoin, China kills china.
Many jobs would be lost. Even more worse money flown out of china would never come back to china since people have to pay extra tax again.
sr. member
Activity: 252
Merit: 250
April 08, 2016, 04:24:22 PM
#45
I guess that's not true. China is one of the countries that use large bitcoin. they use bitcoin as needed, I am not sure that they would destroy the bitcoin. why should they do it? I think all of the issues is a lie
They didn't destroy Litecoin, am i wrong? And they pumping from time to time some of those almost forgotten coins. So we can only Conclude they are adopting very well almost every new coin..I dont see any problems with them.

$4.00 in my eyes is still crappy though lol. Shows me that I would never ever want to get involved with alt coins.
hero member
Activity: 770
Merit: 500
April 08, 2016, 01:22:35 PM
#44
bitcoin will never be destroyed so i guess that says it all, but lets say that china will have a huge impact on the price, i guess then the worst thing that would happen would be that bitcoin would become centralised

though i dont think that there wouldnt be a solution from that, just a lot of time would have to pass till the other countries would adopt to bitcoin and i think everything would be fine
legendary
Activity: 2380
Merit: 1026
April 08, 2016, 11:54:17 AM
#43
I guess that's not true. China is one of the countries that use large bitcoin. they use bitcoin as needed, I am not sure that they would destroy the bitcoin. why should they do it? I think all of the issues is a lie
They didn't destroy Litecoin, am i wrong? And they pumping from time to time some of those almost forgotten coins. So we can only Conclude they are adopting very well almost every new coin..I dont see any problems with them.
hero member
Activity: 1204
Merit: 500
April 08, 2016, 11:44:46 AM
#42
I guess that's not true. China is one of the countries that use large bitcoin. they use bitcoin as needed, I am not sure that they would destroy the bitcoin. why should they do it? I think all of the issues is a lie
legendary
Activity: 2380
Merit: 1026
April 08, 2016, 11:42:07 AM
#41
Bitcoin is still very young and many problems will come over time, and practical solutions will be found very fast i believe.
I would be worried only if one fractions have 50% of all coins, till then everything is fine. Chinese miners contribute to network stability so from that standpoint they are good. I sense here little US jealousy..
newbie
Activity: 35
Merit: 0
April 08, 2016, 10:57:41 AM
#40
China will never destroy bitcoin, as they are the only country which support digital currency as well planning to introduce their own digital currency. If they issue their own digital currency then they may try to destroy our bitcoin.

Many digital currency will be issued by many countries. Bitcoin will be the reserve currency in the digital world.
legendary
Activity: 3234
Merit: 1214
Casinopunkz - Anonymous Crypto Casino
April 08, 2016, 10:53:05 AM
#39
China will never destroy bitcoin, as they are the only country which support digital currency as well planning to introduce their own digital currency. If they issue their own digital currency then they may try to destroy our bitcoin.
legendary
Activity: 3346
Merit: 1618
#1 VIP Crypto Casino
April 08, 2016, 08:26:46 AM
#38
Click Kwuckduck post history.  Realize it's an account sold to Zionist banker shills to spam the forum with jibberish.  Never click Kwuckduck threads again.

I've noticed his/her threads/posts before. It's not difficult to spot a shill. Have you noticed how many troll threads are around at the moment?

It's almost like the fear something?

Price rise as a result of the halving?
legendary
Activity: 1834
Merit: 1520
April 08, 2016, 07:53:39 AM
#37
Bitcoin is honestly now in control of China. It can destroy or prosper bitcoin, it's choice of Chinese people.

In case of halving, maybe they will change the choice of cryptocurrency to somewhat like ethereum.
legendary
Activity: 1652
Merit: 1088
CryptoTalk.Org - Get Paid for every Post!
April 08, 2016, 07:46:21 AM
#36
If China is the most prominent nation in the bitcoin world, then why would they want to destroy bitcoin? It has no sense at all.
By doing this they would literally just fuck themselves. Isn't it better for them to keep bitcoin in good health and profit in the long run?

They don't actually use BTC, they just mine it and speculate with it. There are no Chinese stores accepting BTC. Also - I think the miners there can't speak English and have no idea the angst the blocksize is creating, so they simply don't know that there is a possibility that BTC might fail. I guess we'll all find out in July when the halving happens. If the price doesn't rise (or if it falls), we might see some movement on the blocksize.
hero member
Activity: 644
Merit: 503
April 08, 2016, 03:20:41 AM
#35
With China now owing about 75% of the mining power i think in all their greed they will destroy bitcoin.
They will never allow the protocol to change to accept larger blocks since it's not in their interest.
You don't have much time left to sell your bags.

Well China is very important for bitcon from day one, and yes,lots of miners are in china, but i don't they that they wouldn't like thing like halving, yes they will get less money but price of bitcoin will rise, so maybe they will get even more profit
Yes I would also think that the halving will destroy any profit that china miners are getting now and will deter anymore from going into mining in the future. If there is no big profit to be had then chinese are not interested in pursuing into it any further.

If (and it's a very big "if") that were to happen, then difficulty would decrease. At some point potential miners are going to note the decrease in difficulty and start mining.

This apocalyptic "all miners stop mining" nonsense is silly. We've been through one halving and this didn't happen. Why would it happen this time?
sr. member
Activity: 252
Merit: 250
BetcoinRakeback.com
April 07, 2016, 02:30:32 PM
#34
With China now owing about 75% of the mining power i think in all their greed they will destroy bitcoin.
They will never allow the protocol to change to accept larger blocks since it's not in their interest.
You don't have much time left to sell your bags.

Well China is very important for bitcon from day one, and yes,lots of miners are in china, but i don't they that they wouldn't like thing like halving, yes they will get less money but price of bitcoin will rise, so maybe they will get even more profit
Yes I would also think that the halving will destroy any profit that china miners are getting now and will deter anymore from going into mining in the future. If there is no big profit to be had then chinese are not interested in pursuing into it any further.
full member
Activity: 197
Merit: 100
April 07, 2016, 02:27:12 PM
#33
With China now owing about 75% of the mining power i think in all their greed they will destroy bitcoin.
They will never allow the protocol to change to accept larger blocks since it's not in their interest.
You don't have much time left to sell your bags.

Well China is very important for bitcon from day one, and yes,lots of miners are in china, but i don't they that they wouldn't like thing like halving, yes they will get less money but price of bitcoin will rise, so maybe they will get even more profit
sr. member
Activity: 264
Merit: 250
April 01, 2016, 07:26:38 PM
#32
If China is the most prominent nation in the uᴉoɔʇᴉq world, then why would they want to destroy uᴉoɔʇᴉq? It has no sense at all.
By doing this they would literally just fuck themselves. Isn't it better for them to keep uᴉoɔʇᴉq in good health and profit in the long run?

China is just securing their stack of bitcoin while they can.
full member
Activity: 210
Merit: 100
April 01, 2016, 06:05:05 PM
#31
If anything china would help then break..

If the overwhelming majority in china hopped on bitcoin before u.s folks we already at the $1k value mark on chinas exchange which would effect our price points as well.
hero member
Activity: 644
Merit: 503
April 01, 2016, 03:22:25 PM
#30
Maintaining the status quo for now is the only thing profitable for them but will kill uᴉoɔʇᴉq in the end.
The Chinese, like most if not all emerging cultures, are in for short term profit.

They really couldn't care less about what uᴉoɔʇᴉq is or what its potential is or how their actions could harm others.
When uᴉoɔʇᴉq dies they will just jump on whatever next thing is profitable at that time.

I really don't know why people always talk about Chinese people that they would do this and that with moondollars???
Why don't we see ourselves as a big part of moondollars itself???
We ain't anybody here??? Are the Chinese only the ones who are running the markets in terms of moondollars???
I do know that they possess a big share of BTC, but does that mean that they will ruin it and others can't do anything???

...because it's easier to conflate an entire culture with miners from many countries, united only by their shared involvement in mining pools that are based in China?

I have this crazy idea that miners base their actions on rational self-interest. Pools, too. I can't see how this would change, even if pools were primarily based in - say - the Czech Republic (nods head towards Slush and the BCT historians).

legendary
Activity: 1246
Merit: 1000
!!! RiSe aBovE ThE StoRm !!!
April 01, 2016, 03:14:43 PM
#29
Maintaining the status quo for now is the only thing profitable for them but will kill uᴉoɔʇᴉq in the end.
The Chinese, like most if not all emerging cultures, are in for short term profit.

They really couldn't care less about what uᴉoɔʇᴉq is or what its potential is or how their actions could harm others.
When uᴉoɔʇᴉq dies they will just jump on whatever next thing is profitable at that time.

I really don't know why people always talk about Chinese people that they would do this and that with Bitcoins???
Why don't we see ourselves as a big part of Bitcoins itself???
We ain't anybody here??? Are the Chinese only the ones who are running the markets in terms of Bitcoins???
I do know that they possess a big share of BTC, but does that mean that they will ruin it and others can't do anything???
legendary
Activity: 1937
Merit: 1001
April 01, 2016, 03:05:20 PM
#28
Well, let's suppose those chinese have that much power... Why would they destroy its source of income? it makes no sense.

Maintaining the status quo for now is the only thing profitable for them but will kill uᴉoɔʇᴉq in the end.
The Chinese, like most if not all emerging cultures, are in for short term profit.

They really couldn't care less about what uᴉoɔʇᴉq is or what its potential is or how their actions could harm others.
When uᴉoɔʇᴉq dies they will just jump on whatever next thing is profitable at that time.
hero member
Activity: 770
Merit: 500
✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪
April 01, 2016, 02:42:37 PM
#27
Well, let's suppose those chinese have that much power... Why would they destroy its source of income? it makes no sense.
hero member
Activity: 644
Merit: 503
April 01, 2016, 02:31:48 PM
#26
They will not accept bigger blocks because it requires a lot of bandwidth which is expensive for them.

Is that the only reason they're not in favor of it? I also feel like the mining has become too centralized, which is not the way Satoshi would have envisioned it but are bigger blocks a solution for it? Will it make mining decentralized again?

Are we sure they're not in favour of it? (I suspect some Kwukduckery here...) I was under the impression that the roadmap contains the hard-fork because of representatives from the Chinese pools - the Core devs weren't exactly cheerleaders for the hard-fork...
hero member
Activity: 672
Merit: 502
April 01, 2016, 02:24:38 PM
#25
They will not accept bigger blocks because it requires a lot of bandwidth which is expensive for them.

Is that the only reason they're not in favor of it? I also feel like the mining has become too centralized, which is not the way Satoshi would have envisioned it but are bigger blocks a solution for it? Will it make mining decentralized again?
legendary
Activity: 3248
Merit: 1072
April 01, 2016, 09:52:08 AM
#24
I am quite sure that China at some point will take over the entire mining aspect of uᴉoɔʇᴉq. But is that bad? Who knows, but you have been known for being anti uᴉoɔʇᴉq for quite some time. Don't think many people here will value anything coming from you.

I'm not anti-uᴉoɔʇᴉq. I'm anti-ignoring-problems.
There are some serious problems with uᴉoɔʇᴉq itself and its ecosystem that are structurally being ignored, harming the future of a potentially great and revolutionary technology.

China dominating mining is a problem because they have limited and totally controlled bandwidth to the rest of the world, limiting any new proposal we will try to roll out for the block-size problem. They will not accept bigger blocks because it requires a lot of bandwidth which is expensive for them.

well not matter what you do there is really nothing that can be done to have a fully 100% decentralized mining scene

if you change the algo, the chinese will just rebuild everything for that algo, and so on, so i guess as long they udnerstand that they are not the only important thing and that 51% is dangerous, there is nothing to worry about
legendary
Activity: 896
Merit: 1000
April 01, 2016, 05:15:00 AM
#23
why can't you never say something positive about bitcoin. it's always bad and you always say bitcoin is broken and so on. it's getting pathetic, really.
full member
Activity: 183
Merit: 100
April 01, 2016, 04:58:29 AM
#22
Chinese are short-term gain orientated, future always gloomy and unpredictable for people who rose from dirt in the first or second generation so they prefer to profit today and  at any cost, just look what they did with the environment.
legendary
Activity: 1937
Merit: 1001
April 01, 2016, 03:15:00 AM
#21
I am quite sure that China at some point will take over the entire mining aspect of uᴉoɔʇᴉq. But is that bad? Who knows, but you have been known for being anti uᴉoɔʇᴉq for quite some time. Don't think many people here will value anything coming from you.

I'm not anti-bitcoin. I'm anti-ignoring-problems.
There are some serious problems with bitcoin itself and its ecosystem that are structurally being ignored, harming the future of a potentially great and revolutionary technology.

China dominating mining is a problem because they have limited and totally controlled bandwidth to the rest of the world, limiting any new proposal we will try to roll out for the block-size problem. They will not accept bigger blocks because it requires a lot of bandwidth which is expensive for them.
hero member
Activity: 767
Merit: 532
April 01, 2016, 02:29:52 AM
#20
They already did in a way
legendary
Activity: 2170
Merit: 1427
April 01, 2016, 02:11:40 AM
#19
I am quite sure that China at some point will take over the entire mining aspect of Bitcoin. But is that bad? Who knows, but you have been known for being anti Bitcoin for quite some time. Don't think many people here will value anything coming from you.
legendary
Activity: 1946
Merit: 1137
April 01, 2016, 01:42:17 AM
#18
another FUD topic posted here by kwukduck's sold account.

what is it this time another bank conspiracy or is it desperation for buying cheaper coins off the market?
legendary
Activity: 3248
Merit: 1072
April 01, 2016, 01:38:43 AM
#17
they are free to do it we can create another fork and they would play with their altcoin uᴉoɔʇᴉq with their exchange only

remember that miners don't have the full power, because merchants are somehow as important if not more some times
hero member
Activity: 756
Merit: 500
April 01, 2016, 12:47:26 AM
#16
another april fools joke? but not to offend anyone if this one come true we will need
to look for another way because china is china, business is business
greediness is what we call good business holding major part of mining will
be a big impact. let see.
hero member
Activity: 1680
Merit: 535
Bitcoin- in bullish time
April 01, 2016, 12:29:11 AM
#15
How do you make upside down words?
Happy april fools
With China now owing about 75% of the mining power i think in all their greed they will destroy bitcoin.
They will never allow the protocol to change to accept larger blocks since it's not in their interest.
You don't have much time left to sell your bags.
even china has 75% of total mining power and against  bᴉtcoᴉn it doesnt mean that it will destroy  bᴉtcoᴉn.
Only banks of china wants to destroy  bᴉtcoᴉn not the people.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
April 01, 2016, 12:21:14 AM
#14
With China now owing about 75% of the mining power i think in all their greed they will destroy uᴉoɔʇᴉq.
i'm counting on their greed to make them make damn sure bitcoins is running smoothly all the time.
greed is good!

They will never allow the protocol to change to accept larger blocks since it's not in their interest.
you do realize at the HK round table it was the miners that pressured the devs into agreeing to 4MB effective block size within 1 year.

You don't have much time left to sell your bags.
you don't have much time to spend your fiat.
hero member
Activity: 2814
Merit: 911
Have Fun )@@( Stay Safe
April 01, 2016, 12:19:07 AM
#13
try typing uᴉoɔʇᴉq(s)

that is a good one, even i was wondering how that can be done

and for the topic of bitcoin ,if china is owing about 75% of the mining power , it is their strength . each and every nation can compete with them, i hope no one is stopping other countries   Grin Grin .



 
hero member
Activity: 518
Merit: 500
April 01, 2016, 12:15:26 AM
#12
If China want to destroy bitcoin they will not owning 75% mining power and many china people invest in bitcoin.
legendary
Activity: 3472
Merit: 10611
April 01, 2016, 12:13:40 AM
#11
How do you make upside down words?


Happy April Fools' Day mate  Grin

And on the topic - China does hold the most of the mining power but if they don't want to update to the new protocol why should the rest of the world be hindered? Can't we just ignore them altogether and continue the mining operations elsewhere. China is just one country it can't be that hard can it?

April fools day was only lacking a KuakKuak and it is completed now.

Chinese owning a large percentage of the mining power only means they are so invested in bitcoin that will never let it get in harms way. the block size will eventually be solved it is not a simple matter to just change without any consequences.
sr. member
Activity: 350
Merit: 251
Shit, did I leave the stove on?
April 01, 2016, 12:08:02 AM
#10
How do you make upside down words?


Happy April Fools' Day mate  Grin

And on the topic - China does hold the most of the mining power but if they don't want to update to the new protocol why should the rest of the world be hindered? Can't we just ignore them altogether and continue the mining operations elsewhere. China is just one country it can't be that hard can it?
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
March 31, 2016, 11:56:28 PM
#9
do you just read the latest news about this hardfork? the 1mb block limit will be increased to 2mb soon (next year) , even it's took too long time for realizing,but atleast the block will be increased
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
March 31, 2016, 11:54:58 PM
#8
try typing bitcoin(s)
legendary
Activity: 1288
Merit: 1000
March 31, 2016, 11:47:12 PM
#7
How do you make upside down words?
It is April Fools' prank done by forum Admin. Every BITCOIN (bitcoin) word in inverted upside down. But it will be only temporarily - this effect probably will last only today.
In Meta Section there is post about it.
legendary
Activity: 3346
Merit: 1191
March 31, 2016, 11:04:48 PM
#6
How do you make upside down words?

I have that upside down words also, I thought its something wrong with my lap top.

Snorek made a good argument and I agree with that "If China is the most prominent nation in the uᴉoɔʇᴉq world, then why would they want to destroy uᴉoɔʇᴉq? It has no sense at all." Why would they dig a hole for themselves? There is no logic in that, everyone talk about that China like leader in future that comes. In last 30 years they their growth is amazing I don't see a reason for all that to stop so soon.
legendary
Activity: 910
Merit: 1000
March 31, 2016, 10:25:08 PM
#5
How do you make upside down words?
member
Activity: 112
Merit: 10
March 31, 2016, 10:16:04 PM
#4
With China now owing about 75% of the mining power i think in all their greed they will destroy uᴉoɔʇᴉq.
They will never allow the protocol to change to accept larger blocks since it's not in their interest.
You don't have much time left to sell your bags.


This is really pathetic,so what can you suggest since you want us to sell our bitcoin,can you tell what coin should we get?.
legendary
Activity: 1400
Merit: 1001
March 31, 2016, 09:46:11 PM
#3
If China is the most prominent nation in the bitcoin world, then why would they want to destroy bitcoin? It has no sense at all.
By doing this they would literally just fuck themselves. Isn't it better for them to keep bitcoin in good health and profit in the long run?
legendary
Activity: 1260
Merit: 1000
March 31, 2016, 09:41:40 PM
#2
Click Kwuckduck post history.  Realize it's an account sold to Zionist banker shills to spam the forum with jibberish.  Never click Kwuckduck threads again.
legendary
Activity: 1937
Merit: 1001
March 31, 2016, 09:13:10 PM
#1
With China now owing about 75% of the mining power i think in all their greed they will destroy bitcoin.
They will never allow the protocol to change to accept larger blocks since it's not in their interest.
You don't have much time left to sell your bags.
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