Yeah, I just now started looking at the stuff on the main website; and under the finance section the biggest thing that popped out to me is when it said it's goal is to "increase transparency" in the financial market. That is perhaps the worst, most malicious thing that we could hand over on a silver platter to governments. This is the kind of things tyrants dream of; a way to always be able to see who's sending money where and have a way to stop them if it doesn't please them. They could single handedly control people by forcing them to make it illegal to purchase anything from "Mom and Pop's general store" and force them to buy things from "Walmart" if Walmart CEO's give political figures incentives for doing so and passing those type of laws. Cryptocurrencies need to be permissively transparent... not forced to be transparent on default. its not about transparency as in every customers account balance is transparent to the public. its not to make customer accounts "public".. but sell customer details privately (including access to balance and spending data) to the highest bidder. much the same as how google and facebook sell personal data. even when users have their profiles private to the public that data can still be sold behind the scenes theres other parts that they can be more transparent about how they make their money (previously as loans<-> money creation) so thy can sell this money creation and monkey making, as a sellable service itself. rather than the previous hidden policy that meant they had to keep bank secrets a secret |
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i have to quote someone from another topic that the OP will trust to understand the point of this whole topic due to the fact there is no chinese collusion. due to the fact its all hypothetical doomsday theory not even backed by rational stats That's why this discussion makes no sense as such and will take wrong direction every time
i hope the OP listens to the person i just quoted (himself) |
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This discussion is taking the wrong direction.. racism and Chinese world domination is not the point. We should answer the question... Would
we have been this divided, if Satoshi was still around? Was this done deliberately to divide and conquer? I think Satoshi would have taken
charge of the situation and he would have increased the Block size { within limits } and this would have squashed all competition or sabotage.
not so much taken charge. but more so got people to realise that the consensus mechanism is a tool for diverse compromise and agreement. not to ignore it and instead divide and conquer |
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The problem is when mining is centralized beyond a certain point in one single country, it becomes worrying. I remember some time ago most of the mining power was in Ukraine (with Ghash.io I believe) and people were concerned (rightfully) with that. Nothing bad happened but it's better to anticipate potential problems than to burry one's head into the sand.
Ghash was one server with 51% what these "chinese screamers" are doing is combining 5 separate pools, maintained in 15 offices in different countries, across 20 servers all because the many owners are chinese.. even if those owners may be sunning it up in pattaya thailand or travelling the world or organising events in america.. some how these 5 separate pools are all suddenly colluding and all on their knee's getting whipped by the chinese goverment. its like they think its all run under one single warehouse.. they dont understand the basic technicals. |
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you singled out the chinese.. rather than any particular pool.
you have no shown proof that a nation has done this. or a particular pool that might have done this.
if you however mentioned a pool by name, rather then talking about a nation. then you would sound more rational in your theories
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It is perfectly possible, not today, but it will be once we have sidechains and lightning network. A country will be able to create their own crypto, and give them the properties that the government in question wants, and ultimately it's all backed by bitcoin hyperledger. I think this is what we will see in the distant near future, but of course there is always the possibility that governments don't want to do anything to do with bitcoin and create a thing that is totally separated from it.
bank of england, scotland, canada, america, switzerland, india, china, singapore, australia, taiwan, russia, germany and many others are already involved in hyperledger. aswell as international payment/remittance services like union pay, visa etc etc. as for when.. well they have already passed what bitcoiner would call the "bitcoin pizza event" http://www.reuters.com/article/us-australia-tech-banks-idUSKCN12O0DXaustralia trades 88 bales of cotton to china for $35,000 using the blockchain created by the banking cartel under the hyperledger umbrella |
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This topic is bordering on science fiction  How can the Chinese miners and pools filter out USA traffic and deny foreign transactions? Is this even possible to segregate an entire country or continent from the Blockchain? its not possible once a transaction relays to another node, and then another its not possible to then know the origin of the tx.. so a pool cannot decide to accpt or deny based on geographic origin. the op lacks research and understanding and is just trying to sell his racial mindset. not any real technical details |
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lol
a wiki link (facepalm)
research properly
try your hand at the realisation that BW / bitbank / antpool have farms in mongolia
f2pool have farms all over the world
bitfury have farms predominantly in georgia, finland iceland
etc
so hash power is not all chinese!!
do some number crunching
they are also not administrated in china.
do some number crunching
then come back with some actual rational, realistic and factual numbers
have a nice day
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[waffle and showing no technical proof]
[just shouting china many times]
vs china has less hash power then you think BW.. are in mongolia aswell as other locations haobtc.. are in tibet aswell as other locations BTCC.. are around the world bitfury.. are in Finland, Iceland, and the Republic of Georgia. f2pool.. world wide miners put down your racist hats and put on some research glasses take f2pool. largest pool there is.. its hashpower is spread out across the world. its stratum servers are spread across the world. even the guy that runs the pool is not even in china he is in thailand Admin Name: Wang Chun Admin Organization: F2Pool Admin Street: Soi Naklua 16, Naklua Sub-District,, Admin City: Banglamung Admin State/Province: Chonburi Admin Postal Code: 020150 Admin Country: TH Admin Phone: +66.973040750 Admin Phone Ext: Admin Fax:+66.973040750 Admin Fax Ext: Admin Email: admin@f2pool.comto add: bitfury http://bitfury.com/contactsAmsterdam Office
Spaces Zuidas
Barbara Strozzilaan 201 1083
HN Amsterdam. The Netherlands
San Francisco Office
456 Montgomery St., Suite 1350
San Francisco, CA 94104
United States
Washington DC Office
600 Pennsylvania Avenue
Suite 300
Washington, D.C. 20003
London Office
Level39
One Canada Square
Canary Wharf, London, E14 5AB
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lol thats a summarised % that does not explain the physical location... but anyway: f2pool, run from thailand. hashpower international.. servers international you cannot win a debate just by screaming a %. without knowing how that % is made or were its made or who/where its controlled. % is meaningless unless you research the context |
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55%
60%
70%
51%, 55% 60%, 70% your just making up numbers in just 8 hour you have been throwing out random numbers backed by no researched evidence. but instead quoting others who have not actually researched. quoting an article that quotes an article is not proof. go research properly f2pool. has ZERO chinese government influence. hashpower not in china, servers not in china administrators not in china domain not in china. so discount f2pools from your random number bitfury. has ZERO chinese government influence. hashpower not in china, servers not in china administrators not in china domain not in china. so discount bitfury from your random number actually do the research beyond biased human opinion. look at where the adminstrators are, servers and actual hashpower. and come back with a factual number that doesnt change 4 times in ~7 hours |
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near on 100 international banks are already dveloping their crypto currency.
research hyperledger.
Nice read on the hyperledger, but apparently I cringe on the idea that banks participate in an "open-source, collaborative" effort to create a system which will back each industry up in the near future. As per the OP's view, it's not possible. First off, how would bitcoin back fiat in any way? Shouldn't it be the other way around? Second, authority, regulation and control—bitcoin doesn't have those. How would we, as a community, do desicion-making on fiat events? Consensus? Lol. banks and bitcoin wont mix. banks wont offer bitcoin at the bank teller counter or a banks own ATM bitcoin wont overtake fiat. bitcoin will continue separate as an alternative to FIAT2.0 (hyperledger) there are laws to keep fiat dominant. such as tax and minimum wage laws (legal tender) that are there to keep fiat as the controlling circulated currency of a nation. the banks will basically switch how their database is stored, (via hyperledger) but essentially from the citizens point of view nothing will really change legally/morally. it will still be bank managed funds. as for the "open source" nature of hyperledger. thats just phase one.. get some free labour and recruit coders (like blockstream already got recruited) .. but the final "product" wont be open source, it will be closed source in shiny metal boxes sold as secure nodes to only the banking community who are authorised to purchase the closed end product system |
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over time Banks have realized that this could be dangerous for them and have secretly started researching on Blockchain technology to implement their own Crypto currency for their already existing customers which could be delivered to the masses over night. This could be a threat to Bitcoin, but Bitcoin will always be decentralized no matter what happens and the banks know of this.
its no secret. hyperledger.they have been very public about it. oh and guess who is programming it.. blockstream, yep. gmaxwell and chums. |
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Surely it isn't where the hashpower is located but who controls it.
there are many factors and many means of attack. but you are right. the main weakness is the pool server itself and the stratums servers and the admin, IT team hense why stratum servers are international and the administrators are too.. like i shown for f2pool.. thailand not china.. i guess the chinese government need to walk 1000 miles, and then walk 1000 miles more to slap the administrator with a wet sushi to get the administrator to do anything all these "china own bitcoin" stuff has been mitigated AGES ago, its old news and just used as a distraction. |
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waffle
hashpower distributed world wide statum servers distributed world wide domain names not .cn, but .com meaning not chinese administrators distributed world wide. you do realise that your concern is out dated. the pools mitigated your concern about 2 years ago. chinese government cannot take down the domains because they are not .cn chinese goverments cannot slap the admin because the admin are dotted around the world chinese goverments cannot take down the statum servers because they are dotted around the world chinese goverments cannot shut off 51%-90% of hashpower because 51%-90% of hash power IS NOT IN CHINA!! you are about two years too late. the so called chinese pools have already adapted and mitigated the risks. your issues have already been addressed and the issues you raise are resolved. you would actually have a valid point if: domains ended .cn stratum servers only existed in china farms were not in mongolia, Tibet, Finland, Iceland, and the Republic of Georgia and the rest of the world administrators were all in one building in china. but for all 4 points. those have been addressed ages ago |
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near on 100 international banks are already dveloping their crypto currency.
research hyperledger.
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china has less hash power then you think BW.. are in mongolia aswell as other locations haobtc.. are in tibet aswell as other locations BTCC.. are around the world bitfury.. are in Finland, Iceland, and the Republic of Georgia. f2pool.. world wide miners put down your racist hats and put on some research glasses take f2pool. largest pool there is.. its hashpower is spread out across the world. its stratum servers are spread across the world. even the guy that runs the pool is not even in china he is in thailand Admin Name: Wang Chun Admin Organization: F2Pool Admin Street: Soi Naklua 16, Naklua Sub-District,, Admin City: Banglamung Admin State/Province: Chonburi Admin Postal Code: 020150 Admin Country: TH Admin Phone: +66.973040750 Admin Phone Ext: Admin Fax:+66.973040750 Admin Fax Ext: Admin Email: admin@f2pool.comeven their domain is not .cn so that the chinese cant even take the domain down. and dont bother replying with your 'evidence' of other racist opinions from other people that have not done any actual technical research again take off your racist hat and put on your research glasses and see the truth all your fearmongering has been mitigated ages ago. wake up and drop the racist card and start talking about the technical truth |
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all i see is you repeating "chinese" in every post. the hash power is international. what hashpower is in china is less then you think. instead of googling china google something for once. take f2pool.. hash power international. not in one single farm. again not a sing farm but an internation hub for 7500 active users. servers all over the planet. the guy that owns it.. guess what THAILAND!! Admin Name: Wang Chun Admin Organization: F2Pool Admin Street: Soi Naklua 16, Naklua Sub-District,, Admin City: Banglamung Admin State/Province: Chonburi Admin Postal Code: 020150 Admin Country: TH Admin Phone: +66.973040750 Admin Phone Ext: Admin Fax:+66.973040750 Admin Fax Ext: Admin Email: admin@f2pool.comdont throw the racist card unless you can back it up with fact.. not opinions of other racists who also didnt bother to research all i see is you throwing the race card, and backing it up with nothing more then "because that persons racist too so i believe him" |
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china has less hash power then you think
haobtc.. are in tibet aswell as other locations
BW.. are in mongolia aswell as other locations
BTCC.. are around the world
bitfury.. are in Finland, Iceland, and the Republic of Georgia.
put down your racist hats and put on some research glasses
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Centralized Currency controlled by China.
i know your trying real hard to distract people away from the real control by devs by meandering it into a racist rhetoric about mining pools. but i need to correct your racist rhetoric i mentioned it in another topic but here is a summary. haobtc.. although asian are in tibet aswell as other locations BW.. although asian are in mongolia aswell as other locations BTCC.. although asian have users around the world bitfury.. although asian are in Finland, Iceland, and the Republic of Georgia. you will surprise yourself if you done the actual research to see how much actual hashpower actually is in china and how much is not.. hint: far less hashpower is in china then you think |
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