Bitcoin Forum

We have a nice thread that proposes AnonyMint's view that Bitcoin('s decentralization) IS in fact destroyed at the very moment, by Chinese mining operations.

I say the opposite: Chinese mining operations live off Bitcoin, which is an American invention. Bitcoin is alive and kicking as can be;  network is doing amazingly well.

Bitcoin is an American invention? Has this been confirmed for sure?

The decentralization is destroyed because Satoshi designed it to do that failure, but the functionality/operation of the coin is not (yet) destroyed.

Please understand carefully the distinction.

Yes Bitcoin IS basically ALIVE if you are referring to the functioning of the coin. But the control of the block chain is becoming ever more centralized and controlled by a small group of mining farm owners. And with this control, they have already started to do their 51% attacks on Bitcoin in order to control the block size and drive transaction fees sky high.

But don't worry that they are raping us and will be raping us more in the future. We love when the banks rape us by getting QE from Bernanke. We love the miners to do the same thing to Bitcoin. We love to bend over and take it in our ass. That is why we are Bit(ret)ards.

I guess not, but judging from Satoshi's posts I propose the view that it is an American Invention :D

Bitcoin is alive and will be alive as long as we have faith in it.Who holds the most mining power or has largest transactions doesn't make any much difference.We are the owner of bitcoin that we possess not China

There's no single entity with 51% of the hash rate, so there's only a problem if you're working under the assumption that mining pools must be colluding because they happen to reside within the same arbitrary borders and communists made them do it... or something like that, anyway.   ::)

Here's the state of the network over the last 24 hours:
http://www.teamhellspawn.com/hashdist.png

I remain unconcerned.

Anyone else think it's possible that large mining farms will start to reinvest their earnings into making Bitcoin more widespread as mining becomes less profitable and they can't develop more efficient mining hardware fast enough? It would benefit them because coins would be worth more, so they could keep mining for a little bit longer.

Yes! I wanted to post something very similar. Right u are.

PS.Team Hellspawn 8)

I agree. I think most people who use Bitcoin understand the issues with centralization, so it'd be quite foolish for one of these companies to attempt to growth their mining share. People would likely protest by abandoning their services. Not saying it would kill them, they've obviously got miners of their own, but they'd get the message.

Why do the charts matter, from the (little) news ive seen they are fairly united?

WE still need btc, and the value will stay up because of that.

That's what I was just wondering about a while ago.
I think Satoshi is a Japanese nationalist that moved to America so he is an American with Japanese ties.  ;)

other thread talk about" Bitcoin IS basically DESTROYED" and now create the opposite. i wish you are chinese people who really know what you talk about,i'm agree with this,but need more better proof that china is live off Bitcoin.

As long there isnt a control of 51% of the hash wont make chinese companies being in control of the bitcoin.The most coins of bitcoin has already been mined and there are some companies working at China that belongs to american investors as well others unknow investors ,the thing is bitcoin is a sucess worldwide as the interest into mining it,a lot money were invested into those .

It's not that they reside within the same arbitrary borders, it's that they literally hang out together, devs haggle with them, as a unit, before they make changes.

http://s32.postimg.org/q5n7wk6bp/bitches.jpg

"Communists" simply subsidize their power, and could nationalize their mines if they so choose. Because that's what Communism means, nationalized means of production. That's the only reason it's relevant.

Are you assuming that Satoshi is American? He used British spelling, so he is probably not American.

Well it might be, but it's a global thing now, like Coca-Cola.   I'm happy to drink a Coke with all of China and I'm happy they're so into bitcoin.  Bitcoin ain't anywhere near dead.

American invention!!! I have never read similar senseless affirmation in this forum, despite the multiple bullshit things usually written out there.

Most Commonwealth countries use British spelling... Do you mean he is from one of the countries? Australia is one of them so maybe the real Satoshi has already shown himself.

First of all, it would be better to not put up our own assumptions in the thread (American invention), since you already stated on your 2nd comment (I guess not) plus there was a word used by him "colour" that is an indication of being non American (he/she could be British, Canadian or any other nationality that use that type of spelling).
Some links:
https://bitcointalk.org/index.php?topic=1427158.msg14441255#msg14441255
https://en.wikipedia.org/wiki/American_and_British_English_spelling_differences#cite_ref-10

Now about Chinese people destroyed BTCitcoins decentralization, can't agree that as well since none of them own half of the hash rates until now and even though many of them often are in contact with devs, it's most likely just to have an insight of certain situations that could either go with their plans or not.

yes ofcourse and will remain alive for ever inashallah. i think suck kind of statement will increase the interest of the people. the people will enter the world of bitcoin and it wll continue its flight.

The Chinese is no threat to Bitcoin, even though the mining is centralized in one geographical location. If they go down for some reason, Bitcoin will still operate on the remaining hash power and more people from other countries will take their place. They cannot misuse their power, because it will hurt their pockets too.

As for Satoshi being an American, I'd say "nope" The only people who believe that, might be the Americans. He is most probably from the UK. ^smile^

Okay I agree there isn't a single Chinese pool at the moment with the capacity and hash power to start a 51% attack on the network but what if the Chinese government decided to merge pools in order to gain control over the Bitcoin network? Even though it doesn't make sense to bite the hand the feeds you such an outcome is still possible yet unlikely to happen any time soon. Anyway I don't trust the honesty and integrity of Chinese businessmen at all.

1. Bite hand that feeds you, tear off hand.
2. Eat hand. Delicious!
3. Find hand's former owner. He ain't far.
4. For best flavor, bleed out & gut prior to refrigeration.

*Only wise not to bite if you know hand's gonna keep feeding you. Hand may not be in position to feed anyone after teh halvening :(

American invention? Are you seriously? No one knows who created Bitcoin.
I think that the Bitcoin network controls the Chinese miners, in their hands 50-70% capacity. And performance largely depends on them, but unite and pick up power, redistribute, can any other country, the group, and so on.
Leaders of different ranks, government officials, and business leaders are increasingly in favor of the Bitcoin, recognizing their future.
So we can say that Bitcoin is alive

You are disingenuously spreading lies and you know it.

It has been explained to you numerous times that it is not the pools that are the only point of centralization but also the mining farms. There is one cattle farmer in China who is investing in a mining farm large enough to mine 30% of all BTC that is stolen from us via printing-coins-out-of-thin-air (aka coinbase block reward) to pay miners.

Also it is entirely illogical to claim that cartels and oligarchies do not cooperate with each other, when in fact all throughout history of mankind they always do, because it is the only way they can control the pricing and reap more profit for themselves. It has already been explained to you numerous times that the Chinese mining cartel prevented the timely increase of the block size by refusing to mine on Bitcoin Classic or XT. This is because they prefer to support Blockstream's Segregated Witness which will provide much smaller and delayed block size increases, so that they can drive transaction fees sky high. Also they support Blockstream's SegWit, because it changes the Bitcoin block chain protocol in such a way (insidious soft fork versioning) as it will make it virtually impossible for anyone to stop the mining cartel from changing the protocol in the future at-will.

Thus the Chinese mining cartel is already speaking and acting as a cooperating oligarchy and they have already 51% attacked Bitcoin's protocol, when they blocked the block size increases which would have kept our transaction fees low.

This is very dangerous for our future, because it means in the future when the Chinese government says to these mining farms in China (which control more than 50% of Bitcoin's network hashrate) that they must change the protocol to require that every transaction include a signed government issued identification number or that every signed transaction must include a tax contribution to China or the world government, then the miners will have no choice but to comply because otherwise they will find their $100 millions investment in mining equipment padlocked and confiscated by the government.

What kind of delusional fantasy world do you live in DooMAD.

I will cite a Chinese proverb here:

Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.

The Chinese have become very proficient fishermen in the Bitcoin realm  :D But I know that the halving will make their profits dwindle and I can't say for sure how much less profitable their mining operations are going to be. It's true that if the times are getting hard they may try to go for the jugular to avoid imminent bankruptcy and drag Bitcoin to hell along with their demise.

Satoshi isn't American? I though he is.. and in fact he is a pervert who use to be on beaches of California and so he frowns on ladies wearing swimsuit cover-ups. Satoshi Nakamoto is "sad to see not cameltoe"

Bitcoin is not american invention, nor any nation's invention either. Origin of bitcoin can't be proven so please stop with it.
And about that: 'he wrote in English so he is american for sure' - theory:  
language Satoshi was using wasn't "American English" but UK's English, that makes him an Englishman, not American, right?

Bitcoin is an American invention ? Where's the proof for that? The name of its investor is Satoshi Nakamoto which is clearly Japanese if we start from here. Anyway who cares who invented it in the first place, I think Bitcoin is very much alive with more and more people using it, a few big merchants like Steam recently accepting it, so in the near future I think it can be very much alive as well. Bitcoin is the internet most beautiful creation so far so lets keep it this way.

First people were talking about China owning bitcoin now America owns it. I think that these threads are getting worse

Price is rising continuously and it will rise in coming months too, this is the indication that bitcoin is alive and moving positively towards the destination.

Well described. Bitcoin has got come across various ups and downs from its day of existence which is very short compared to other currencies we use. Truly bitcoin will be alive with its increasing price and increasing adoption.

I agree that the Chinese are basically making a living off Bitcoin by mining but I disagree with the second statement that Bitcoin is an American invention. I think there is conclusive proof that showed Satoshi used UK English spelling of words on numerous occassions so unless it's a trick to throw off people from his/her real country of origin, Satoshi logically can't be from the USA. He/she may not even be a native speaker of English as well.

Yeah we will see higher adoption level  in future which will take bitcoin to higher level, the only thing it needs a little support from the people across the globe.

i think the real indicator of bitcoin to know whether it's still alive or not is the market, even the price rocketing to $5000 per bitcoin but if there's no buy/sell activities in the market, bitcoin can be called a dead coin

You should have becareful to say about bitcoin anything wrong, because in bitcointalk most of individual countries people are doing work. if you say any wrong so it would be have any effect on our thinking.
But my opinion, BITCOIN is alive.

I really don't think so, as we all know bitcoin creator have choosed satoshi as his username in all the places where he have started posting about bitcoin on early days. So its like created by some asian guy from china, japan etc. Proud to be asian if this get proved.  ;D

It really doesn't matter from which country he belongs, the best thing is he has invented best currency so far which is helping us in many ways, and for that we should be thankful to him.

I agree with this.  It is the belief in bitcoin that makes it "alive" and will keep it alive.  All of us that hold it keep it alive as well.

Still not 51%, though, is it.  There is no individual with more than 51% of the hash rate.  So again, unless you're working under the assumption (because you have no proof) of collusion, then there is no issue.  There is no lie present in what I've said.  Just your wild accusations of ill intent.



I support a larger blocksize too, but just because that didn't get enough support from miners, it doesn't automatically prove beyond all doubt that they're colluding to achieve that result.  You are speculating.  Guessing.  Assuming.  You have no definitive proof of collusion.



And in the highly unlikely event that were to happen, the rest of us would happily let them fork away to mine an empty chain that none of us would be transacting on.  You can take off your "The end is nigh" sandwich board now.

http://benkinsley.com/wordpress/wp-content/uploads/2012/01/theend2.jpg  



The one that makes a hell of a lot more sense than the delusional fantasy world you're from.

some user sayd that two of those pool may be owned by the same entity, even if they appear to be contorlled by different people

i mean what are the chances that the owners of two separate pool are themselves under the directives of a single entity? another guy?

According to Schrödinger, bitcoin is both alive AND dead. lol

Yes and I think bitcoin will be more powerful in future, and price is rising now so it clearly shows that bitcoin is still alive and very much in the game at a moment.

Yes, exactly, we should thankful to him, because they made Bitcoin, actually bitcoin is very helpful for us in different ways of life, because the earning way become easy to use the bitcoin and it is good investment to get profit, also halving is coming and for me, it is a big event to bring the profit.

And it really doesn't matter who he truly is, because all he's probably gonna get from us bitcoin holders is the attention, appreciations and recognition that we can give. Plus, I assume that he's keeping his identity because he's going to get too much attention both from the government and the media which surely would change his lifestyle as of the current.

Lol. Good one!

Bitcoin is alive and it will be alive in future too, I don't see any reason that it can disappear or get dead, as the number of users are increasing on regular basis.

Who said that Bitcoin is an American invention, if anything satoshi was not american he used British English and a British newspaper in the genesis block???

He probably used British english on purpose ;D