Topic: Which country has the highest percentage of miners? - page 3. (Read 3316 times)
I think the answer will be China of course because it has the biggest population in the world and their cheep power can help them in mining to get more profit
I guess Japan or China has maximum miners. There are some rumors that Satoshi was a japanese so if its true then there are all the chances that maximum miners are in Japan but still i am not sure.
China and USA are on top, with number of highest percentage of miners and users
What numbers are you using to say that USA is on top? Its a pretty bad place to make mega datacenter so they don't have that much there. The electricity there is expensive. And if you look at the pool data, there's not that much pointed outside Asia and Europe.
Can this affect the network in any way?
You should be pretty sure of the fact that China is in control of more than 51% of the hash power(ofc the total power is distributed among different people). Those people create the hardware and use it for themselves. And in some parts electricity is cheap too.So you,re saying that, "China" is actually in control of all the China pool, private mine and subcontractor, including Bitmain? Because even though that there is at least 40%~ of the hashrate pointed in the hand of people in China, the control of that hashrate is segregated.
You make it sound like they're setup for a 51% attack while its absolutely not the case.
China and USA are on top, with number of highest percentage of miners and users
Can this affect the network in any way?
You should be pretty sure of the fact that China is in control of more than 51% of the hash power(ofc the total power is distributed among different people). Those people create the hardware and use it for themselves. And in some parts electricity is cheap too.So you,re saying that, "China" is actually in control of all the China pool, private mine and subcontractor, including Bitmain? Because even though that there is at least 40%~ of the hashrate pointed in the hand of people in China, the control of that hashrate is segregated.
You make it sound like they're setup for a 51% attack while its absolutely not the case.
Can this affect the network in any way?
You should be pretty sure of the fact that China is in control of more than 51% of the hash power(ofc the total power is distributed among different people). Those people create the hardware and use it for themselves. And in some parts electricity is cheap too. Can this affect the network in any way?
Most of the hashrate is in china. If china were to someone block the miners from connecting to the network, that could be disastrous since we would be losing over half of the hashrateWhy would it be bad? Would it stop the confirmation of transactions or just slow down the network? If it just slowed the network down would it make the other miners rich for awhile?
I doubt that China will ever block bitcoin mining. It adds a lot to fresh money coming in from other countries, when people buy these bitcoins on their exchanges.
It would be a extremely bad move for them to try a 51% attack, because a sustained attack, would effectively kill the price, when people find out about this. The bitcoins
they mine will become worthless. You never kill the cow that provide the milk.
Look at this pool stats: https://blockchain.info/pools
the biggest pool is https://www.f2pool.com
china is dominate of bitcoin miners, maybe because they have free electric bills.
the biggest pool is https://www.f2pool.com
china is dominate of bitcoin miners, maybe because they have free electric bills.
They have free electric bills ? Really ?
I think china or japan have more miners as per my knowledge 
Can this affect the network in any way?
Most of the hashrate is in china. If china were to someone block the miners from connecting to the network, that could be disastrous since we would be losing over half of the hashrateWhy would it be bad? Would it stop the confirmation of transactions or just slow down the network? If it just slowed the network down would it make the other miners rich for awhile?
And when they reconnect one blockchain would get destroyed by the biggest one, which means if China's hashrate/block trail is higher, they will have mined 100% of all blocks for that period and everything that was done outside China for that period of time would be invalidated. Payouts, transactions, payments, everything.
It would be basically destroyed and its value would soon plummet to single digit.
Doing that would simply kill BTC. China would then control 100% of pretty much nothing. All in all, this would only benefit those who which to destroy it and not anyone that benefits from it.
Can this affect the network in any way?
Most of the hashrate is in china. If china were to someone block the miners from connecting to the network, that could be disastrous since we would be losing over half of the hashrateWhy would it be bad? Would it stop the confirmation of transactions or just slow down the network? If it just slowed the network down would it make the other miners rich for awhile?
Can this affect the network in any way?
It must be China.
Can this affect the network in any way?
Most of the hashrate is in china. If china were to someone block the miners from connecting to the network, that could be disastrous since we would be losing over half of the hashrateWhy would it be bad? Would it stop the confirmation of transactions or just slow down the network? If it just slowed the network down would it make the other miners rich for awhile?
Hmmmm. Its a fundamental problem, not automatically a problem for the end user;
Bitcoin's security rely on its Decentralized system. The more decentralized it is, the harder it is to attack. The more centralized it is, the more control, power and security all rely on fewer points of failure, hence the network is easier to hurt or control.
Can this affect the network in any way?
Most of the hashrate is in china. If china were to someone block the miners from connecting to the network, that could be disastrous since we would be losing over half of the hashrateWhy would it be bad? Would it stop the confirmation of transactions or just slow down the network? If it just slowed the network down would it make the other miners rich for awhile?
I think that China has the most bitcoin miners since the electricity prices are cheap, the labour is cheap and the equipment is cheap there as well.
I think the answer will be chaina or america and yes they are not just effecting the network but I will say they are scratching the bitcoin network and that's horrible
Which is kind of Ironic, considering the very bad average electricity cost from Americans. But you can see with the node spread graphic map that there is a lot of activity in North America, and most of those places have high electricity cost.
Sound like a lot of American are making poor investments just because of how awesome BTC is~
Sound like a lot of American are making poor investments just because of how awesome BTC is~
Yes. A lot of Americans (and miners from other countries) are mining Bitcoins at a significant loss. small-scale and solo mining is extremely unprofitable nowadays. But we should remember that the same complaint was heard from the miners in 2012, when the exchange rate was going at $5 to $10 per BTC. When Bitcoin peaked at $1,200, many of these miners made 50x to 100x profits.
Per capita, it's the Netherlands (by far!)
Thats a pretty cool graph, but even if its accurate, thats nodes, not miners. Most miners do not really mine locally so the amount of nodes is not necessarily an indicator of how many miners/hashrate power the locale has.
Still show how centralized China's hashrate is, running on so few nodes.
Exactly, these are nodes, not miners. Graphs means nothing except to show where are the most people that do support Bitcoin network.
Hats off to Netherlands! Such a small country with such a support to the network. And I assume these are mostly nodes, not miners since electricity in Netherlands is pretty expensive and I don't think there are a lot of people mining.
Per capita, it's the Netherlands (by far!)
Thats a pretty cool graph, but even if its accurate, thats nodes, not miners. Most miners do not really mine locally so the amount of nodes is not necessarily an indicator of how many miners/hashrate power the locale has.
Still show how centralized China's hashrate is, running on so few nodes.
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