PinkLlama



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Full MemberActivity: 186Merit: 100 Re: Bitcoin IS basically DESTROYED May 08, 2016, 10:17:17 AM #2 Why would the fact that China is basically controlling mining do anything to Bitcoin? Developing great Bitcoin tools for the community

markj113



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LegendaryActivity: 2254Merit: 1042 Re: Bitcoin IS basically DESTROYED May 08, 2016, 10:19:33 AM #3 Quote from: PinkLlama on May 08, 2016, 10:17:17 AM Why would the fact that China is basically controlling mining do anything to Bitcoin?



The whole concept of bitcoin was based around decentralization.



If China controlls a large % of the hash power then it would only take the collaboration of a few to hit the dreaded 51% control point The whole concept of bitcoin was based around decentralization.If China controlls a large % of the hash power then it would only take the collaboration of a few to hit the dreaded 51% control point

katrimans



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Hero MemberActivity: 882Merit: 500 Re: Bitcoin IS basically DESTROYED May 08, 2016, 10:53:02 AM #9 To my honest opinion as bitcoin works right the possibility for it to disappear isn't possible as many users around the virtual world already embrace bitcoin no wonder where it is mined.

somacoin



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Sr. MemberActivity: 448Merit: 251 Re: Bitcoin IS basically DESTROYED May 08, 2016, 10:58:25 AM #10 Perhaps an american fork will appear that bans all Chinese nodes. (If Trump is president and has a good technological advisor), that is. Bitcoin-West being the result. China then running its own fork. Oh I guess China does love Bitcoin after all #

who deserves controlling the Bitcoin network? Isn't this intentional?

Arms race. Competition means more nodes being deployed. Don't you worry folks, Bitcoin's doing just fine.



Deploy more nodes if you don't like the Chinese doing it more than yourself!

somacoin



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Sr. MemberActivity: 448Merit: 251 Re: Bitcoin IS basically DESTROYED May 08, 2016, 11:01:59 AM #11 Quote from: ETFbitcoin on May 08, 2016, 10:59:57 AM

Trading volume for chinise exchange is a joke, it's filled with fake trade

I think not only does most volume come from China, most mining takes place in China.

China China. Was Satoshi Nakamoto an American who intentionally chose a Japanese Pseudonym to mock China?

Will we ever know?

Does the US love Bitcoin more than China?

Bitcoin is doing well, you're right. I think not only does most volume come from China, most mining takes place in China.China China. Was Satoshi Nakamoto an American who intentionally chose a Japanese Pseudonym to mock China?Will we ever know?Does the US love Bitcoin more than China?Bitcoin is doing well, you're right.

prettybuds



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Full MemberActivity: 252Merit: 100 Re: Bitcoin IS basically DESTROYED May 08, 2016, 11:37:20 AM #15 Quote from: Blitzboy on May 08, 2016, 11:34:51 AM China selfish also here in bitcoin. they have a large mining farm and looks like they owning it now..

Also here in philippines we have found one island in the north of our country its near in our country but they want to get this island too.. and they are planning to start a war..



China is just as selfish as everyone else... the difference is that they're beginning to have a lot of power.



They like Bitcoin, it's profitable, it's minable, they can, so they do.



I support the view that those who care most will have the biggest farms. China is just as selfish as everyone else... the difference is that they're beginning to have a lot of power.They like Bitcoin, it's profitable, it's minable, they can, so they do.I support the view that those who care most will have the biggest farms.

Monnt



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LegendaryActivity: 938Merit: 1000 Re: Bitcoin IS basically DESTROYED May 08, 2016, 11:48:11 AM #18 The Chinese government won't allow a 51% attack, right?



Most of these Chinese mining firms are pools, so like most pools that are extremely big, if they get too big, miners will hop to a different one.