Sooooo China, isn't this shameful? | Bitcointalksearch.org

Zyrio

jr. member

Activity: 53

Merit: 3

Quote from: ajareselde on August 03, 2015, 03:52:45 PM

It shows 88 nodes atm. But anyways, these statistics are based on the IP of the node, and since China has many issues with internet censure,i
believe that most of the node operators are placing their nodes behind VPN, which ultimatively shows the node to be in different country.

There is no other logical explanation that i can think of in regards to such a low number of nodes there.

cheers

I agree. This ist most probably the problem. I'm not sure though that china is blocking bitcoin traffic really but it's not out of question.

I wonder if there is a way to get the real numbers then.

Kprawn

legendary

Activity: 1904

Merit: 1074

Quote from: adamsworks on August 04, 2015, 07:41:32 PM

Quote from: GODLIKE on August 03, 2015, 03:21:45 PM

So, China mines 80% of Bitcoins at the moment, right?
Or anyway, 80% of Bitcoins are sold to Yuan.

And they only have some 15 nodes? That's awful, really.

https://getaddr.bitnodes.io/

Cool site... never seen that one.

Too bad it didn't put a percentage of the worlds population beside the list of countries..... Might help to put things in a little better perspective.

One thing that surprised me was the Russian Federation.... Considering its hostile stance in the past towards BitCoin and all other currencies, I figured it wouldn't be up there in numbers of nodes. Despite a hostile government towards BitCoin, Russian's seem to be showing some stronger support of it.

Russia, it seems.... cannot make up their minds about Bitcoin. The one moment, they Ban it, then they warm up a little to it, then you hear it's banned again. It's a strange situation with them.

The world population charts can be found here --> http://www.worldometers.info/world-population/

I doubt if China would hoard mined Bitcoins... They still have overheads to cover and expansion costs money... and we know they are expanding like crazy.

I never use the Chinese exchanges to determine the price of Bitcoins... They manipulate it too much. Angry

adamsworks

newbie

Activity: 28

Merit: 0

Quote from: GODLIKE on August 03, 2015, 03:21:45 PM

So, China mines 80% of Bitcoins at the moment, right?
Or anyway, 80% of Bitcoins are sold to Yuan.

And they only have some 15 nodes? That's awful, really.

https://getaddr.bitnodes.io/

Cool site... never seen that one.

Too bad it didn't put a percentage of the worlds population beside the list of countries..... Might help to put things in a little better perspective.

One thing that surprised me was the Russian Federation.... Considering its hostile stance in the past towards BitCoin and all other currencies, I figured it wouldn't be up there in numbers of nodes. Despite a hostile government towards BitCoin, Russian's seem to be showing some stronger support of it.

erre

legendary

Activity: 1680

Merit: 1205

So, the real question is: how can we avoid the net centralization? This and inizial distribution are the biggest flaws in btc design, Imho.

dothebeats

legendary

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Merit: 1352

Quote from: mallard on August 04, 2015, 05:16:26 AM

You should watch the VICE documentary "Life Inside a Secret Chinese Bitcoin Mine".
I think the man they interview says that he sells some BTC to pay for costs, and he holds the rest because he thinks the price is going to rise.

Not all of them are evil

Thinks about the profits, not the actual concepts that bitcoin could actually bring. Given that most of the hashing power comes from China, there is no doubt that they only want the profits. If those mining farms formed together and centralize their mining power, I don't know whether I'll stay with bitcoin or not. If ever a big dump happens, then we might have some idea who did what.

Hopalong

member

Activity: 112

Merit: 10

Quote from: BillyBobZorton on August 04, 2015, 09:48:16 AM

Quote from: Herbert2020 on August 04, 2015, 02:10:47 AM

Quote from: Abbey_j on August 04, 2015, 01:36:34 AM

Quote from: randy8777 on August 03, 2015, 03:26:29 PM

15 nodes? it shows here that china has 86 nodes. which is still poorly low considering they control the largest part of the total hash power.

Yeah, that could be the truth, As a Chinese, I believe most Chinese who get involved in Bitcoin doesn't have a faith in Bitcoin, and the reason why they are working with Bitcoin is to earn money, I mean the most people, but there are still people who contribute his power to the Bitcoin network selflessly.

yeah, the Chinese are currently in bitcoin for just mining it and earning money by doing so. because of the maintenance costs and electricity it is a profitable act for them.

Hopefully the Chinese are saving some of their Bitcoins otherwise they will look like the biggest idiots on planet earth once their already collapsing economy tumbles down. I don't think they are this wise tho, otherwise they would be moving their stocks out as well.

There will never be a cryto currency in China. Never!

protokol

legendary

Activity: 1188

Merit: 1016

Quote from: Kprawn on August 04, 2015, 01:45:24 AM

We are talking about people, who eat dolphins and dogs .... Do you think they worry about the sustainability of a Bitcoin network?

AAHAHAHAAAAAA Brilliant! This could be straight out of a Chris Morris sketch.

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

@ no, it is not.

-------------

Hopalong

member

Activity: 112

Merit: 10

Is it illegal to mine in China? You are making money by selling some digital stuff to the west and i think that is legal.

BillyBobZorton

legendary

Activity: 1204

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Quote from: Herbert2020 on August 04, 2015, 02:10:47 AM

Quote from: Abbey_j on August 04, 2015, 01:36:34 AM

Quote from: randy8777 on August 03, 2015, 03:26:29 PM

15 nodes? it shows here that china has 86 nodes. which is still poorly low considering they control the largest part of the total hash power.

Yeah, that could be the truth, As a Chinese, I believe most Chinese who get involved in Bitcoin doesn't have a faith in Bitcoin, and the reason why they are working with Bitcoin is to earn money, I mean the most people, but there are still people who contribute his power to the Bitcoin network selflessly.

yeah, the Chinese are currently in bitcoin for just mining it and earning money by doing so. because of the maintenance costs and electricity it is a profitable act for them.

Hopefully the Chinese are saving some of their Bitcoins otherwise they will look like the biggest idiots on planet earth once their already collapsing economy tumbles down. I don't think they are this wise tho, otherwise they would be moving their stocks out as well.

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

Quote from: GODLIKE on August 04, 2015, 07:30:06 AM

Quote from: galbros on August 03, 2015, 08:20:57 PM

Question for OP, how many nodes should they run?

If not exactly proportional to how much BTC they mine every day, something near that number?

I can't understand how you can think there are hidden nodes.
This website should represent accessible nodes, right?
If you can't see a node here, neither another node can see it, right?
Or wrong? I'm no expert, I confess.

That is not true. getaddr.bitnodes.io does not see all the nodes in the network, it can only see the ones that allow incoming connections and allow its connection. If someone decides to drop the connection to the site's node, it can still maintain connections to other nodes in the network. If those nodes connect over Tor, then they won't accept incoming connections and the only way that getaddr.bitnodes.io could know about them is if they connected to their node (which may not be possible).

Bitcoinpro

legendary

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ill give ya a hint

just making this post required incredible powers

good always triumphs over evil

remember that

GODLIKE

hero member

Activity: 546

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LOL what you looking at?

Quote from: galbros on August 03, 2015, 08:20:57 PM

Question for OP, how many nodes should they run?

If not exactly proportional to how much BTC they mine every day, something near that number?

I can't understand how you can think there are hidden nodes.
This website should represent accessible nodes, right?
If you can't see a node here, neither another node can see it, right?
Or wrong? I'm no expert, I confess.

Uhu

newbie

Activity: 4

Merit: 0

Quote from: mallard on August 04, 2015, 05:16:26 AM

You should watch the VICE documentary "Life Inside a Secret Chinese Bitcoin Mine".
I think the man they interview says that he sells some BTC to pay for costs, and he holds the rest because he thinks the price is going to rise.

Not all of them are evil

Correct. Don't colour everyone with the same brush. On the other hand...how do you know he is tellig the truth?

mallard

full member

Activity: 196

Merit: 100

You should watch the VICE documentary "Life Inside a Secret Chinese Bitcoin Mine".
I think the man they interview says that he sells some BTC to pay for costs, and he holds the rest because he thinks the price is going to rise.

Not all of them are evil

tokeweed

legendary

Activity: 3976

Merit: 1421

Life, Love and Laughter...

And not only do they looove profit, their government like to push around third world countries and claim disputed territories as theirs.

http://www.foxnews.com/world/2015/07/21/chinese-not-backing-down-over-south-china-sea-dispute/

So yeah, shameful indeed.

tokeweed

legendary

Activity: 3976

Merit: 1421

Life, Love and Laughter...

Quote from: cogabonito on August 04, 2015, 03:26:09 AM

What's the matter anyway? Normal Chinese people don't mine them bitcoins, it's just high profile mining firms who use equipments. Do you think that random Chinese man know all things about Bitcoin mining and invest it?

They'd be interested if they know there's profit in it.

cogabonito

sr. member

Activity: 240

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What's the matter anyway? Normal Chinese people don't mine them bitcoins, it's just high profile mining firms who use equipments. Do you think that random Chinese man know all things about Bitcoin mining and invest it?

tokeweed

legendary

Activity: 3976

Merit: 1421

Life, Love and Laughter...

Quote from: LFC_Bitcoin on August 03, 2015, 03:31:15 PM

Quote from: randy8777 on August 03, 2015, 03:26:29 PM

15 nodes? it shows here that china has 86 nodes. which is still poorly low considering they control the largest part of the total hash power.

86 nodes running in the whole of China? That has to be wrong, surely? Must be literally 10 times that. I'm shocked if there are only 86 people running a full node in China. Maybe I just vastly underestimated the number of people who are willing to help the community by running a full node Angry

Once China profits, they'll dump it right after. They don't care about Bitcoin or the 'community'.. They care about profit and money. They'll dump it, and laugh while doing it.

thebenjamincode

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Activity: 490

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37iGtdUJc2xXTDkw5TQZJQX1Wb98gSLYVP

if that is the case then china would be the biggest bag holder of bitcoin and as well as they would also be rich big time if bitcoin skyrocket again

Topic: Sooooo China, isn't this shameful? (Read 2253 times)