Can you please share where you got those numbers from?
But yes, I can confirm that China does have more than 51% hashing power.
When saying there are less than 30 pools/farms - I got the numbers from: https://blockchain.info/poolshttp://uk.businessinsider.com/bitcoin-pools-miners-ranked-2015-7These days it's becoming too expesive to set up new pools/farms - worldwide, thus the competition in this field (i.e. mining) is dropping. It's impossible to compete the Chinese... |
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you may be right, but as I said before, the Bitcoin numbers are too low:
- Bitcoin owners: probably 2-3 million. Bitcoin users (actively spending, trading, following news): 200k-500k.
- owners/users, who actually run a full-node on their PC > currently around 5500 nodes, which is a drop compared to 6200 a few months ago.
- the whole eco-system is based on a lotal of less than 30 mining-farms, worldwide.
Am I wrong on these numbers?
Yes, you are wrong. There are definitely more than 30 mining farms worldwide. Where are you getting that number from? There are probably about 30 notable mining POOLS but mining POOLS are different from mining FARMS. And mining farms are not the only ones supporting the Bitcoin network. There are many people who own miners but not enough to be considered a farm. But you still haven't explained how Bitcoin is fragile. I take the numbers from this post, titled "The 21 companies that control bitcoin": http://uk.businessinsider.com/bitcoin-pools-miners-ranked-2015-7 |
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Chinese mining farms probably do hold the majority of mining power.
These are very bad news. Should I explain why? Yes, please do. What makes that bad? Uncertainty! The majority of the mining power should not come from one single country/region of the world --> China, for this matter. Mining-Costs are too high for the vast majority of supportes. If one day the Communist Party/their Central Bank feel threaten by Bitcoin, they can ban and/or crack-down their local Chinese mining-farms anytime. This is true for many other countries as well. This leads me to think that the whole bitcoin eco-system is way too fragile. The numbers are too low (too few mining farms, which cost a lot of money, too few full-nodes, too few users... too few of everything... etc). The blockchain technology is here to say but the token's future is very much uncertain. And how is that bad, how does that make bitcoin fragile? If China were to crack down on Bitcoin mining farms, how would that negatively effect Bitcoin? While a lot of mining power comes from China, they do not have the vast majority. China probably has about 50% or a little more of the mining power. If all of those miners were suddenly unable to mine, for a few weeks, the difficulty would be high and the blocks would take around 20 minutes instead of 10 minutes, a minor inconvenience. Then after enough blocks have been made, the difficulty would adjust down and everything would be back to normal. you may be right, but as I said before, the Bitcoin numbers are too low: - Bitcoin owners: probably 2-3 million. Bitcoin users (actively spending, trading, following news): 200k-500k. - owners/users, who actually run a full-node on their PC > currently around 5500 nodes, which is a drop compared to 6200 a few months ago. - the whole eco-system is based on a lotal of less than 30 mining-farms, worldwide. Am I wrong on these numbers? |
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Chinese mining farms probably do hold the majority of mining power.
These are very bad news. Should I explain why? Yes, please do. What makes that bad? Uncertainty! The majority of the mining power should not come from one single country/region of the world --> China, for this matter. Mining-Costs are too high for the vast majority of supportes. If one day the Communist Party/their Central Bank feel threaten by Bitcoin, they can ban and/or crack-down their local Chinese mining-farms anytime. This is true for many other countries as well. This leads me to think that the whole bitcoin eco-system is way too fragile. The numbers are too low (too few mining farms, which cost a lot of money, too few full-nodes, too few users... too few of everything... etc). The blockchain technology is here to say but the token's future is very much uncertain. |
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Chinese mining farms probably do hold the majority of mining power.
These are very bad news. Should I explain why? |
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Is it true that there are much too few bitcoin miners and full-nodes in the whole world >> a total of 21(!) miners, and less than 5500 full-nodes? Is that whole eco-system?
Is it true that China holds more than 51% of hash power?
If so, these numbers are SCARY!
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It could be that the specs of your computer aren't good enough. It could just be taxing your computer to much and it just crashes. Try to just run that without doing anything else on the computer and see if it crashes.
thanks... it worked. How do I undo this (i.e. remove these addresses viewing from the bitcoin-core-qt)? What is the command line for that? AFAIK you cant remove an imported watch only address without using external tools like pywallet. You can also restore a recent backup wallet file. Ok, thanks. BTW, I can see my imported watch only address on the bitcoin-core-qt, but when I search THE SAME address on blockchain.info, i get an "Unrecognized search pattern" message. Why? Is that a bug in blockchain.info? Please explain... |
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It could be that the specs of your computer aren't good enough. It could just be taxing your computer to much and it just crashes. Try to just run that without doing anything else on the computer and see if it crashes.
thanks... it worked. How do I undo this (i.e. remove these addresses viewing from the bitcoin-core-qt)? What is the command line for that? |
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A couple of months ago i opened/printed 4 paper wallets, and saved/moved a few bitcoins from a mobile app wallet to cold-storage.
These days, the online bitcoin explorers (like blockchain.info, blockexplorer.com, blocktrail.com/BTC, walletexplorer.com) sometime show me those 4 cold-storage-paper-wallets-addresses as valid and sometimes as invalid addresses.
I also run a full-node bitcoin core- qt, version 0.11, and someone told me to can check for myself on my computer, with the full node wallet that I am running on my PC, these 4 paper-addresses, making sure they are 100% on the main bitcoin blockchain by doing so: Help > Debug window >Bitcoin Core RPC console --> I should write >> importaddress [my address] coldstorage true <<
When I did so, the software run very slow, and it crashed...
why? Did I do ok?
Can someone guide me - as simple as possible - on how to check for myself the main bitcoin blockchain, with a bitcoin-core-qt, these 4 paper-wallets, making sure I didn't lost the money by mistake?
thanks.
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`nothing is over yet`? what do you mean?
He think that this SCAM will pay you. But it looks like unrealistic variant. it's a scam - not paying anymore. Stay Away! |
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just wait r1973....patience,nothing is over yet
anyway the amount you invested is very small so its nothing to care about
`nothing is over yet`? what do you mean? |
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It's good that I didn't invest in this project
I invested 0.0005BTC, and got paid 0.000015, and I learnt a big lession for a small amount of money. I am out of these ponzies. |
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It seems that LabMining.Club had stopped paying yesterday. I will keep the forum updated tomorrow
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We got a whole army of noobs that are mysteriously making a ton of money on this site lol. This screams to me "please don't put your money here!"
you are right, it's a ponzi - but it pays these last few days. We all know this site can disappear soon... Currently it pays  |
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Instant
2884be970d2e18eb030f4d8544f4fd56dd1df4092b888f648e fcba223e606684
Unrecognized search pattern according to blockchain.info |
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I've signed-up two days ago - and they paid these first days.
Can you provide the tx id's please? It's very hard to believe you without a proof. yes, sure. this is the id of yesterday: a0a23c9f35c7e95298d12fc544b4039eab1af62431379d5d16bd1c6dd89b9ab3 - what can you learn from this? |
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I've signed-up two days ago - and they paid these first days.
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i've already made the deposit......r1973 did you follow the steps and saved the deposit providing the transaction id???
....i didn't have any problems referring the deposit...i don't know whats going to happen with the withdrawal though
...i let you know
thanks. My deposit arrived too (it took a few hours). I will let the group know about this 15 days' loan and withdrawal, within the next few days... |
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