I think these concerns are superfluous!
Although China's BTC mining is more, they will sell the excavated BTC, and most of the BTC is not in China!
Many BTCs are in the hands of some mysterious buyers!
Topic: China's Bitcoin Dominance Is Worrying Trump's White House - page 2. (Read 320 times)
It's not a complicated problem. If the average person wants to rebalance the distribution of mining power, sink some money into mining equipment, start hashing and contribute to a pool in your own locale. If China have achieved dominance, it's because they're willing to invest their time, money and effort into mining. The cheap electricity also comes in handy, obviously. But if you've got no skin in the game, it's not your call. Either match the time, money and effort that others are putting in, or quit your bitching.
If Trump's White House think Ripple is a better alternative, then they're even more braindead than I thought. Please put all your eggs in that basket, idiots. Please. It would prove beyond all doubt that Ripple is centralised (in case that wasn't already crystal clear).
If Trump's White House think Ripple is a better alternative, then they're even more braindead than I thought. Please put all your eggs in that basket, idiots. Please. It would prove beyond all doubt that Ripple is centralised (in case that wasn't already crystal clear).
I wonder how the White House and Mnuchin feel about this.
https://openbazaar.com/store/home/QmQ88EKXkMJxfmtyFboNCz4gmKAAwRVL8woCqZmpmRn878
https://openbazaar.com/store/home/QmQ88EKXkMJxfmtyFboNCz4gmKAAwRVL8woCqZmpmRn878
Governments' fighting for control of cryptocurrency and blockchain technology would help improve adoption and promote the innovation.
But I fear it would have a negative effect on decentralization.
And we could have an indirect central system which would control the market.
But I fear it would have a negative effect on decentralization.
And we could have an indirect central system which would control the market.
https://www.forbes.com/sites/billybambrough/2018/10/16/chinas-bitcoin-dominance-is-worrying-trumps-white-house-and-pushing-it-toward-ripple/
Based on the link above:
"China is, by some distance, the undisputed world leader in bitcoin mining — with Chinese mining pools controlling more than 70% of the bitcoin network's collective hash rate (a higher hash rate is better when mining cryptocurrencies as it increases your chance of finding the next block on the chain and receiving the bitcoin reward).
Many in the bitcoin and cryptocurrency industry have expressed concern about how much control this gives China over bitcoin, with the Beijing-based Bitmain Technologies mining more than half the world’s bitcoins.
Now it appears U.S. president Donald Trump's White House is also worrying about China's bitcoin dominance, with a Ripple Labs executive suggesting the U.S. administration is interested in ripple (XRP) adoption to offset China's bitcoin strength."
China manufactures most of the world’s bitcoin and cryptocurrency mining equipment and its massive mining farms are supported by the country's cheap electricity prices. Will the US be able to reach China's dominance?
Based on the link above:
"China is, by some distance, the undisputed world leader in bitcoin mining — with Chinese mining pools controlling more than 70% of the bitcoin network's collective hash rate (a higher hash rate is better when mining cryptocurrencies as it increases your chance of finding the next block on the chain and receiving the bitcoin reward).
Many in the bitcoin and cryptocurrency industry have expressed concern about how much control this gives China over bitcoin, with the Beijing-based Bitmain Technologies mining more than half the world’s bitcoins.
Now it appears U.S. president Donald Trump's White House is also worrying about China's bitcoin dominance, with a Ripple Labs executive suggesting the U.S. administration is interested in ripple (XRP) adoption to offset China's bitcoin strength."
China manufactures most of the world’s bitcoin and cryptocurrency mining equipment and its massive mining farms are supported by the country's cheap electricity prices. Will the US be able to reach China's dominance?
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