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Author Topic: Which country has the highest percentage of miners?  (Read 3277 times)
VirosaGITS
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September 29, 2015, 01:39:16 PM
 #81

Quote from: VirosaGITS link=topic=1190873.msg12550102#msg12550102
[/quote

No o.O.

ALL transaction regarding the funds from the blocks after the fork will be invalidated. The destroyed fork will have all those transaction simply not exist in the final block chain.

I'm not talking about the nitpicky stuff. Or special circumstance.

You just can't have two people both get the 25BTC+TXfee per block. The end.

I don't know if i'm not explaining what i'm trying to say or something? Both fork will find the same blocks #, but there can only be one instance in the end. And whoever is in the destroyed fork will have no BTC from them after the merge. This also include the tx fee, the transaction, everything.
Yes, I understand what you are saying. The coinbase transactions and all of the following transactions in one fork can not exist when the forks combine.

Sure but what i'm saying has nothing to do with coinbase per see. All transactions to and from coinbase would also get hit just like all non coinbase transaction as well. And coinbase would actually be less catastrophic internally because internal transaction doesn't go through the blockchain.

But regardless, even though it could be possible to operate, they would shut it down, since there is no way Coinbase or any proper exchange would continue to operate in those conditions.
I'm not taking about coinbase the company. I'm talking about the transactions which generate the block reward, which are called coinbase transactions.

Oh my bad, those are low level protocol stuff which are too complicated to explain imo, beyond the conceptual display that "Blocks are generated and credited from 0x address after being verified by the network".

But anyways all transactions would be invalidated, not just block generation, however so i didn't even think you could be talking about such low level details. It's just that the root of all problems does come from just that.


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Snorek
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September 29, 2015, 01:43:11 PM
 #82

I guess China is the leader when it comes to mining. Either the United states or China are the countries who have the most miners, that's for sure.
But we also need to differentiate between mining community and overall bitcoin community & user base.
I think China is only strong because mining pools and huge farms, but that's it and hash power is not really valid indicator of popularity.
Jerry S
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September 29, 2015, 02:03:27 PM
 #83

i never know that china has the biggest miners, so it means they have the biggest power to control bitcoin?
S4VV4S
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September 29, 2015, 03:26:21 PM
 #84

i never know that china has the biggest miners, so it means they have the biggest power to control bitcoin?

They are the biggest ASIC miner manufacturers so it would make sense to use them for themselves before selling them out.
christycalhoun
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September 29, 2015, 03:58:47 PM
 #85

China would be effecient due to the relatively low cost of power. I bet they can get good deals on ASICs to be manufactured there too.

momore
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October 04, 2015, 12:59:19 PM
 #86

That must be china.
smith coins
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October 04, 2015, 02:51:04 PM
 #87

That must be china.

These mining machines are produced there and it cost for Chinese people cheap.
Even though the shipping is not much expensive it makes us who live in usa or eu make it not affordable
Another factor which affect the earning is the electricity, the best case is when it is completely free.
LFC_Bitcoin
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October 04, 2015, 05:08:15 PM
 #88

No surprise that the answer is China. A quick google search for 'Chinese bitcoin farms' will show you some unbelievable pics. Some of the mining farms in China are insane, they must make an incredible amount of money.

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