China Can Reverse Bitcoin Transactions?

[Traderbtcc]

It's true  65% of all the mining are held in China, but it's actually not possible to reverse a bitcoin transaction, we all know it's impossible, but if they have found a way to do it, then it's more scarier than I thought, imagine after buying some btc's and after it reaches your wallet, the next minute they're all gone ,i just hope it's not true.

[Kong Hey Pakboy]

It's true  65% of all the mining are held in China, but it's actually not possible to reverse a bitcoin transaction, we all know it's impossible, but if it's they have found a way to do it, then it's more scarier than I thought, imagine after buying some btc's and after it reaches your wallet, the next minute they're all gone ,i just hope it's not true.

Indeed. China are mostly held in China, but it doesn't mean that China has already figured out how to reverse a bitcoin transaction because no one can actually can take control over it. I also think it would be really scary if bitcoin transaction can be able to control by someone because they can manipulate every transaction just to send all of it to them.

[dimonstration]

It's true  65% of all the mining are held in China, but it's actually not possible to reverse a bitcoin transaction, we all know it's impossible, but if it's they have found a way to do it, then it's more scarier than I thought, imagine after buying some btc's and after it reaches your wallet, the next minute they're all gone ,i just hope it's not true.

I don't thinks it's possible, bitcoin is irreversible as well designed not to be controlled by anyone ,but transaction works when it is mined. If it's really possible is there any instances already that experience such event, I hope it's not true since it will be better uncontrolled so we will be careful in sending money and doing transactions. Its confusing that it is published but we should not overthink unless proven it's still better to think what how we know BTC works than being controlled.

[hongchao123]

China has more than enough money to do 51% attack but for now they dont have reasons for this

[GreatArkansas]

It's true  65% of all the mining are held in China, but it's actually not possible to reverse a bitcoin transaction, we all know it's impossible, but if they have found a way to do it, then it's more scarier than I thought, imagine after buying some btc's and after it reaches your wallet, the next minute they're all gone ,i just hope it's not true.

Scary like hell. Also what I remember before when Binance was breached and lost around $40m.
"Binance Considered Pushing for Bitcoin ‘Rollback’ Following $40 Million Hack".
CZ Binance or the founder mentioned before to rollback the transaction to get back the 40million USD hacked on their exchange. He mentioned some huge players in Bitcoin mining industries. But after then, they were not able to roll back the transaction and it's better then.
Really scary, Binance is popular and have connection on country of China.

[ranochigo]

First of all, 51% attack doesn't allow the attacker to reverse someone else's transactions. They need to hold the private key to the specific addresses to be able to do so.

In addition, even if the majority of the hashrate are in the same country, what would incentivise them to do so? Those miners wouldn't support the idea given that it's their main source of income and it would render all the ASICs useless after the attack. Would it really be beneficial for a country to attack Bitcoin if their GDP is easily tens or even hundred times greater than the possible rewards from the attack?