Sooooo China, isn't this shameful?

[Herbert2020]

15 nodes? it shows here that china has 86 nodes. which is still poorly low considering they control the largest part of the total hash power.

Yeah, that could be the truth, As a Chinese, I believe most Chinese who get involved in Bitcoin doesn't have a faith in Bitcoin, and the reason why they are working with Bitcoin is to earn money, I mean the most people, but there are still people who contribute his power to the Bitcoin network selflessly.

yeah, the Chinese are currently in bitcoin for just mining it and earning money by doing so. because of the maintenance costs and electricity it is a profitable act for them.

[Amph]

15 nodes? it shows here that china has 86 nodes. which is still poorly low considering they control the largest part of the total hash power.

Yeah, that could be the truth, As a Chinese, I believe most Chinese who get involved in Bitcoin doesn't have a faith in Bitcoin, and the reason why they are working with Bitcoin is to earn money, I mean the most people, but there are still people who contribute his power to the Bitcoin network selflessly.

this is the reason why someone should be worried about the fact that they are controlling 60%+ of the network, if they only care about profit and oneday their profit will not be good enough, for a long time, we all know what will happen.....

[thebenjamincode]

if that is the case then china would be the biggest bag holder of bitcoin and as well as they would also be rich big time if bitcoin skyrocket again

[tokeweed]

15 nodes? it shows here that china has 86 nodes. which is still poorly low considering they control the largest part of the total hash power.

86 nodes running in the whole of China? That has to be wrong, surely? Must be literally 10 times that. I'm shocked if there are only 86 people running a full node in China. Maybe I just vastly underestimated the number of people who are willing to help the community by running a full node 

Once China profits, they'll dump it right after.  They don't care about Bitcoin or the 'community'..  They care about profit and money.  They'll dump it, and laugh while doing it.

[cogabonito]

What's the matter anyway? Normal Chinese people don't mine them bitcoins, it's just high profile mining firms who use equipments. Do you think that random Chinese man know all things about Bitcoin mining and invest it?

[tokeweed]

What's the matter anyway? Normal Chinese people don't mine them bitcoins, it's just high profile mining firms who use equipments. Do you think that random Chinese man know all things about Bitcoin mining and invest it?

They'd be interested if they know there's profit in it.

[tokeweed]

And not only do they looove profit, their government like to push around third world countries and claim disputed territories as theirs.

http://www.foxnews.com/world/2015/07/21/chinese-not-backing-down-over-south-china-sea-dispute/

So yeah, shameful indeed.

[mallard]

You should watch the VICE documentary "Life Inside a Secret Chinese Bitcoin Mine".
I think the man they interview says that he sells some BTC to pay for costs, and he holds the rest because he thinks the price is going to rise.

Not all of them are evil

[Uhu]

You should watch the VICE documentary "Life Inside a Secret Chinese Bitcoin Mine".
I think the man they interview says that he sells some BTC to pay for costs, and he holds the rest because he thinks the price is going to rise.

Not all of them are evil

Correct. Don't colour everyone with the same brush. On the other hand...how do you know he is tellig the truth?

[GODLIKE]

Question for OP, how many nodes should they run?

If not exactly proportional to how much BTC they mine every day, something near that number?

I can't understand how you can think there are hidden nodes.
This website should represent accessible nodes, right?
If you can't see a node here, neither another node can see it, right?
Or wrong? I'm no expert, I confess.

[Bitcoinpro]

ill give ya a hint

just making this post required incredible powers

good always triumphs over evil

remember that

[achow101]

Question for OP, how many nodes should they run?

If not exactly proportional to how much BTC they mine every day, something near that number?

I can't understand how you can think there are hidden nodes.
This website should represent accessible nodes, right?
If you can't see a node here, neither another node can see it, right?
Or wrong? I'm no expert, I confess.

That is not true. getaddr.bitnodes.io does not see all the nodes in the network, it can only see the ones that allow incoming connections and allow its connection. If someone decides to drop the connection to the site's node, it can still maintain connections to other nodes in the network. If those nodes connect over Tor, then they won't accept incoming connections and the only way that getaddr.bitnodes.io could know about them is if they connected to their node (which may not be possible).

[BillyBobZorton]

15 nodes? it shows here that china has 86 nodes. which is still poorly low considering they control the largest part of the total hash power.

Yeah, that could be the truth, As a Chinese, I believe most Chinese who get involved in Bitcoin doesn't have a faith in Bitcoin, and the reason why they are working with Bitcoin is to earn money, I mean the most people, but there are still people who contribute his power to the Bitcoin network selflessly.

yeah, the Chinese are currently in bitcoin for just mining it and earning money by doing so. because of the maintenance costs and electricity it is a profitable act for them.

Hopefully the Chinese are saving some of their Bitcoins otherwise they will look like the biggest idiots on planet earth once their already collapsing economy tumbles down. I don't think they are this wise tho, otherwise they would be moving their stocks out as well.

[Hopalong]

Is it illegal to mine in China? You are making money by selling some digital stuff to the west and i think that is legal.

[LiteCoinGuy]

@ no, it is not.

-------------

[protokol]

We are talking about people, who eat dolphins and dogs .... Do you think they worry about the sustainability of a Bitcoin network?

AAHAHAHAAAAAA Brilliant! This could be straight out of a Chris Morris sketch.

[Hopalong]

15 nodes? it shows here that china has 86 nodes. which is still poorly low considering they control the largest part of the total hash power.

Yeah, that could be the truth, As a Chinese, I believe most Chinese who get involved in Bitcoin doesn't have a faith in Bitcoin, and the reason why they are working with Bitcoin is to earn money, I mean the most people, but there are still people who contribute his power to the Bitcoin network selflessly.

yeah, the Chinese are currently in bitcoin for just mining it and earning money by doing so. because of the maintenance costs and electricity it is a profitable act for them.

Hopefully the Chinese are saving some of their Bitcoins otherwise they will look like the biggest idiots on planet earth once their already collapsing economy tumbles down. I don't think they are this wise tho, otherwise they would be moving their stocks out as well.

There will never be a cryto currency in China. Never!

[dothebeats]

You should watch the VICE documentary "Life Inside a Secret Chinese Bitcoin Mine".
I think the man they interview says that he sells some BTC to pay for costs, and he holds the rest because he thinks the price is going to rise.

Not all of them are evil

Thinks about the profits, not the actual concepts that bitcoin could actually bring. Given that most of the hashing power comes from China, there is no doubt that they only want the profits. If those mining farms formed together and centralize their mining power, I don't know whether I'll stay with bitcoin or not. If ever a big dump happens, then we might have some idea who did what.

[erre]

So, the real question  is: how can we avoid the net centralization? This and inizial distribution are the biggest flaws in btc design, Imho.

[adamsworks]

So, China mines 80% of Bitcoins at the moment, right?
Or anyway, 80% of Bitcoins are sold to Yuan.

And they only have some 15 nodes? That's awful, really.

https://getaddr.bitnodes.io/

Cool site...  never seen that one.

Too bad it didn't put a percentage of the worlds population beside the list of countries.....  Might help to put things in a little better perspective.

One thing that surprised me was the Russian Federation....  Considering its hostile stance in the past towards BitCoin and all other currencies,  I figured it wouldn't be up there in numbers of nodes. Despite a hostile government towards BitCoin,  Russian's seem to be showing some stronger support of it.