Bitcoin is diversified around the world, if it can acquire each and every single Satoshi mined till date then it'll be a benefit to China. This can't be achieved at any cost, another thing the bitcoin market is manipulative.
If China holds the largest volume of bitcoins, then it serves as a centralized asset similar to the fiat used. This will enrich the usage of other cryptocurrencies in the top order on coinmarketcap.
Topic: If War breaks out between China and the US, can China hack Bitcoin? (Read 578 times)
August 13, 2020, 06:37:47 PM
August 13, 2020, 10:26:20 PM
Bitcoins cannot be hacked, but they can attack 51%.
China has 81% of the pool of miners mining bitcoin, which also means there is a high chance that China will strike 51% if the miner's team up to carry out the attack. I think they won't do it, they will push the bitcoin price higher because they mine the most which also means they hold the most bitcoin.
China has 81% of the pool of miners mining bitcoin, which also means there is a high chance that China will strike 51% if the miner's team up to carry out the attack. I think they won't do it, they will push the bitcoin price higher because they mine the most which also means they hold the most bitcoin.
August 13, 2020, 06:29:23 PM
With the pandemic that we have, I don't think these powerful countries are thinking of going into war. For what? They need to prioritize their people over ego of something. People are dying and suffering because of this pandemic, and they want to go to war? I don't think so. And China can't hack bitcoin as it is decentralized. Unless, they will hack a crypto exchange and get their bitcoins' holdings. But there's no need for that. It will just ruin their image to the world. They have their own wealth already.
I agree. The leaders of both countries will surely take good care of its citizens first before thinking about their egos regarding political issues that can be fixed through humble negotiation and there is no need for a war to arise for we are all still suffering into the effect of the Coronavirus pandemic most specially at the part of US who is still leading its way to the top of having the most number of cases in the span of months that the pandemic is on this year 2020. Such political issues and egos of both leaders from US and China must be set aside for a while and better focus on the welfare of its people rather than raising a war that can just cost lives and would be a nonsense fight because this pandemic is already causing death due to health related threat.
Also, I do not think hacking of Bitcoin will be involved on the tension between those two big countries for what are they are fighting is on a political matter and also health related due to issues that Pres. Trump is throwing against China regarding the reason of starting this pandemic for it is said that the virus originated in Wuhan, China which is the ground zero of the virus. With that, there is no concrete reason to involve Bitcoin then.
August 09, 2020, 05:57:31 AM
IF war with China should happen this summer with the UNited States,,, could China hack Bitcoin if it had to regardless of cost?
If war breaks out between china and america china will never be able to hack bitcoin although china is far ahead in terms of bitcoin usage there is no third-party control over bitcoin. It is impossible for china to hack bitcoin without strict measures to protect it although everything has improved through blockchain technology the country's economy has been hit harder by the epidemic and the likelihood of war is much lower.
With the pandemic that we have, I don't think these powerful countries are thinking of going into war. For what? They need to prioritize their people over ego of something. People are dying and suffering because of this pandemic, and they want to go to war? I don't think so. And China can't hack bitcoin as it is decentralized. Unless, they will hack a crypto exchange and get their bitcoins' holdings. But there's no need for that. It will just ruin their image to the world. They have their own wealth already.
August 09, 2020, 12:49:30 AM
If China has the resources to do so then they can hack Bitcoin if they like to but if are lacking some resources then they will face some
problems if they will try to hack Bitcoin.
China is the biggest country but with regards to technology, I am not so sure whether they are superior compare to United States. Anything can happen,
so I cannot give a concrete asnwer to this topic as of this moment but I am excited whether it will likely to happen or not.
problems if they will try to hack Bitcoin.
China is the biggest country but with regards to technology, I am not so sure whether they are superior compare to United States. Anything can happen,
so I cannot give a concrete asnwer to this topic as of this moment but I am excited whether it will likely to happen or not.
August 08, 2020, 09:54:15 AM
IF war with China should happen this summer with the UNited States,,, could China hack Bitcoin if it had to regardless of cost?
If war breaks out between china and america china will never be able to hack bitcoin although china is far ahead in terms of bitcoin usage there is no third-party control over bitcoin. It is impossible for china to hack bitcoin without strict measures to protect it although everything has improved through blockchain technology the country's economy has been hit harder by the epidemic and the likelihood of war is much lower.
August 08, 2020, 09:52:26 AM
I think hacking bitcoin is impossible, if this is possible then the value of bitcoin would not be what it is today, if China were to go to war with those countries then the price of bitcoin would rise sharply because fiat would lose its value when war happened
August 08, 2020, 12:02:34 AM
51% attack is theoretically possible, but why does China need it?
August 07, 2020, 09:09:54 PM
For me china can't hack Bitcoin for sure bitcoin have highly secured system and war? I think war between China and Us are not gonna happen for now maybe someday but for sure bitcoin gonna guard their system so don't worry 😉
August 07, 2020, 03:38:34 PM
IF war with China should happen this summer with the UNited States,,, could China hack Bitcoin if it had to regardless of cost?
Sir, firstly i don't think war is really going to happened between china & usa. Cause they know if the war happen, then both will have to suffer in long run. But cold war is possible to happened between then for longUS and China will hold and keep from their safe ground, it's not the best time to make this thing happen.
With the pandemic virus that still hurting countries economy,
even china have now the power for sure there's still many factors
that needs to consider before taking to this kind of situation.
August 07, 2020, 02:16:01 PM
At this point of time that we are still facing a crisis, it is impossible that a war would arise for we are already on a deadly scenario and conducting a war would just create a massive destruction and would not give any good. Also, people will surely not get to participate for their concerns are more on health related. Also, even if such thing would be possible to happen that a war may arise between China and United State, the war would be mainly because of different political stand and regarding other issues which will not concern Bitcoin so basically they would not give a care for the hacking of Bitcoins once a war arises between those two big countries.
The short response would be no because there is no valid and strong reason to do such and why would they even care about it if the reason of the tension between them are mainly to political issues and other concerns that are needed to be attend to.
The short response would be no because there is no valid and strong reason to do such and why would they even care about it if the reason of the tension between them are mainly to political issues and other concerns that are needed to be attend to.
August 05, 2020, 05:59:44 PM
A 51% attack can hack a single transaction but keeping the attack on and hacking one after another requires so much resources that even a country like China would have a problem.
Also they would need the hardware so to get it they would have to steal all private mines in china and make it work for them. Also they would be losing money because even if they got some coins out of it the price would crash by the time they'd be able to sell.
If China is going for war then they will first take over the mining farms situated in China and there are plenty of them who could very well do the 51% attack and then the most popular ASIC manufacturer is located there and with all these aiding them do you think mining hardware would be a big issue. We have developers monitoring everything and if there is a hostile takeover then we will have a fork and kill that chain. Also they would need the hardware so to get it they would have to steal all private mines in china and make it work for them. Also they would be losing money because even if they got some coins out of it the price would crash by the time they'd be able to sell.
August 05, 2020, 02:51:26 PM
A 51% attack can hack a single transaction but keeping the attack on and hacking one after another requires so much resources that even a country like China would have a problem.
Also they would need the hardware so to get it they would have to steal all private mines in china and make it work for them. Also they would be losing money because even if they got some coins out of it the price would crash by the time they'd be able to sell.
Also they would need the hardware so to get it they would have to steal all private mines in china and make it work for them. Also they would be losing money because even if they got some coins out of it the price would crash by the time they'd be able to sell.
August 05, 2020, 01:55:13 PM
idk how would they hack bitcoin? its like asking to hack every computer in the world. its nearly impossible , they called it decentralize for a reason ^_^
That is not what the OP is telling, if you look at the bitcoin network majority of the hash rate comes from China and the government can take control over these mining farms and control the entire bitcoin network, what you do not understand is that bitcoin is decentralized in nature but majority of the hashing farms are centralized and if you control these major mining farms you can control the bitcoin network. Assuming war erupted and China manipulate mining farm to attack the network, what will happen next then? Would it bring more fund to China's war campaign? Does anyone realized that once the Bitcoin Network is hacked, trading activities will be halted? Let's assume that China gain a control over the Bitcoin network and produce millions of BTC on the new chain, who will then buy them? The effort of China to cease control of the Bitcoin network will only be in vain because, once the hack is known, all demands will eventually stop living China with worthless bags of "BTC".
August 05, 2020, 09:36:52 AM
I agree that there is no chance of a war breaking out between these two countries. Also, massive effect internationally will be taking place by then and none of these countries could ever survive without huge damage and loss to their resources. I also agree with thoughts of others, what is the relation between the war and Bitcoin. If a war happens, I don't think that china would be focusing to other things beside war strategies.
August 04, 2020, 05:07:12 AM
I do not understand your question, what is the relationship between the war between China and the US with Bitcoin.
After all, nothing until now has been able to hack Bitcoin, therefore Bitcoin is trusted by many people. I am sure
there will be no war between China and the US, we all have the same enemy the corona virus. So now is not the right
time to go to war.
After all, nothing until now has been able to hack Bitcoin, therefore Bitcoin is trusted by many people. I am sure
there will be no war between China and the US, we all have the same enemy the corona virus. So now is not the right
time to go to war.
August 04, 2020, 04:49:10 AM
A war to break out between United States of America and China is not impossible to happen. When this happens, it would cause a huge impact globally for sure. However, I agree with others with that being said, what is the connection of the war to Bitcoin. I want to commend you for having a constructive imagination but as far as we know, for years now, Bitcoin has gained popularity but not as huge to be used as a weapon for a war of economy.
August 04, 2020, 04:18:31 AM
You did consider WW3 as a factor but not a threat, if ever two superpowers would go to war at each other then, data mining and bitcoin would be out of question because that war will ensure total mutual destruction and what happens when they both use their nuclear capabilities, the whole world will feel the impact and there will be electro magnetic pulse that will cause the disruption plus the fireball and the raditation after that,
If you think of those possibilities, WW3 is less likely to happen as many sectors will become really affected and become useless. Money will probably become nonsense as this war can make most of the people die. All currency will become valueless once US and China started to bomb each other's territory. This will probably bring a long-term destruction to humanity and to all industry.
full scale war will remove the worth of many things and that includes cryptocurrency, in my opinion China would do that to buy off allies that will help them, in a war of attrition I do not know who will when but let's hope that it will never ever happen.
Just don't be too anxious about that because World leaders are not that dumb enough to not prioritize the safety of its people. Governments right now are worrying about their economy above else, they are worrying about inflation, cryptocurrency adoption, and this pandemic. US are struggling right now, while China is really not that affected in this pandemic and they have a stable economy compared to other countries.
August 04, 2020, 04:03:32 AM
idk how would they hack bitcoin? its like asking to hack every computer in the world. its nearly impossible , they called it decentralize for a reason ^_^
That is not what the OP is telling, if you look at the bitcoin network majority of the hash rate comes from China and the government can take control over these mining farms and control the entire bitcoin network, what you do not understand is that bitcoin is decentralized in nature but majority of the hashing farms are centralized and if you control these major mining farms you can control the bitcoin network. August 04, 2020, 02:08:33 AM
idk how would they hack bitcoin? its like asking to hack every computer in the world. its nearly impossible , they called it decentralize for a reason ^_^
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