Control is very complicated word.
Do they have power to manipulate, maybe yes?
But total control is too different. And everyone knows chinese do not have total control.
Do they have power to manipulate, maybe yes?
But total control is too different. And everyone knows chinese do not have total control.
no one was crying when america had over 70% of the network hash power, where only a couple years ago, it was either ATI(majority) or intel(minority) supplying that american demand.
thats because the racial biased mindset imagines america as free independant people. but sees asians as all 1billion people stuck together working in just one sweatshop with a tyranical manager whipping them into action. (complete opposite of the reality in china)
so to me the whole 'china is bad' mindset is actually racial not logical
I agree with you, but you have to add a bit of arrogance to these statements too... There are a perception amongst some Americans that they are the superior beings, and the rest are just a
bunch of illiterate mongrels. It unfortunately takes events like Pearl Harbor and 9/11 to make them see, that inferior nations can out smart them, with 12 people.
I am not saying this, to be controversial, but it's the sad truth. Their arrogance sometimes cost them innocent lives. I have loads of American friends, and even they acknowledge this.
It's not that China is bad, its that the Fact that they control it. It has nothing to do with where the mining companies are based, its the fact that the mining companies, which so happen to be based in China are the ones who can control Bitcoin. It's not decentralized. Mining has become to difficult for an avid computer user, it now costs upwards of 10k USD to make a profit. I find it funny that you're Bitcoin is supreme and nothing can beat it. It may have been the first Cryptocurrency, but that just means that other Cryptocurrencies have had the chance to learn and adapt to create a better currency. For instance, Rimbit is a pre-mined coin, and your immediate thought is "SCAM". However, with the right people in charge, its a viable and reasonable way to spread a currency and keep it as decentralized as possible. If you're willing to do research go to www.Rimbit.com
Silicon Valley have enough skills for the manufacturing of the Asic chips needed to do this. 
