China will destroy bitcoin

[uacoin]

Chinese are short-term gain orientated, future always gloomy and unpredictable for people who rose from dirt in the first or second generation so they prefer to profit today and  at any cost, just look what they did with the environment.

[randy8777]

why can't you never say something positive about bitcoin. it's always bad and you always say bitcoin is broken and so on. it's getting pathetic, really.

[Amph]

I am quite sure that China at some point will take over the entire mining aspect of uᴉoɔʇᴉq. But is that bad? Who knows, but you have been known for being anti uᴉoɔʇᴉq for quite some time. Don't think many people here will value anything coming from you.

I'm not anti-uᴉoɔʇᴉq. I'm anti-ignoring-problems.
There are some serious problems with uᴉoɔʇᴉq itself and its ecosystem that are structurally being ignored, harming the future of a potentially great and revolutionary technology.

China dominating mining is a problem because they have limited and totally controlled bandwidth to the rest of the world, limiting any new proposal we will try to roll out for the block-size problem. They will not accept bigger blocks because it requires a lot of bandwidth which is expensive for them.

well not matter what you do there is really nothing that can be done to have a fully 100% decentralized mining scene

if you change the algo, the chinese will just rebuild everything for that algo, and so on, so i guess as long they udnerstand that they are not the only important thing and that 51% is dangerous, there is nothing to worry about

[twister]

They will not accept bigger blocks because it requires a lot of bandwidth which is expensive for them.

Is that the only reason they're not in favor of it? I also feel like the mining has become too centralized, which is not the way Satoshi would have envisioned it but are bigger blocks a solution for it? Will it make mining decentralized again?

[LMGTFY]

They will not accept bigger blocks because it requires a lot of bandwidth which is expensive for them.

Is that the only reason they're not in favor of it? I also feel like the mining has become too centralized, which is not the way Satoshi would have envisioned it but are bigger blocks a solution for it? Will it make mining decentralized again?

Are we sure they're not in favour of it? (I suspect some Kwukduckery here...) I was under the impression that the roadmap contains the hard-fork because of representatives from the Chinese pools - the Core devs weren't exactly cheerleaders for the hard-fork...

[maokoto]

Well, let's suppose those chinese have that much power... Why would they destroy its source of income? it makes no sense.

[kwukduck]

Well, let's suppose those chinese have that much power... Why would they destroy its source of income? it makes no sense.

Maintaining the status quo for now is the only thing profitable for them but will kill uᴉoɔʇᴉq in the end.
The Chinese, like most if not all emerging cultures, are in for short term profit.

They really couldn't care less about what uᴉoɔʇᴉq is or what its potential is or how their actions could harm others.
When uᴉoɔʇᴉq dies they will just jump on whatever next thing is profitable at that time.

[gkv9]

Maintaining the status quo for now is the only thing profitable for them but will kill uᴉoɔʇᴉq in the end.
The Chinese, like most if not all emerging cultures, are in for short term profit.

They really couldn't care less about what uᴉoɔʇᴉq is or what its potential is or how their actions could harm others.
When uᴉoɔʇᴉq dies they will just jump on whatever next thing is profitable at that time.

I really don't know why people always talk about Chinese people that they would do this and that with Bitcoins???
Why don't we see ourselves as a big part of Bitcoins itself???
We ain't anybody here??? Are the Chinese only the ones who are running the markets in terms of Bitcoins???
I do know that they possess a big share of BTC, but does that mean that they will ruin it and others can't do anything???

[LMGTFY]

Maintaining the status quo for now is the only thing profitable for them but will kill uᴉoɔʇᴉq in the end.
The Chinese, like most if not all emerging cultures, are in for short term profit.

They really couldn't care less about what uᴉoɔʇᴉq is or what its potential is or how their actions could harm others.
When uᴉoɔʇᴉq dies they will just jump on whatever next thing is profitable at that time.

I really don't know why people always talk about Chinese people that they would do this and that with moondollars???
Why don't we see ourselves as a big part of moondollars itself???
We ain't anybody here??? Are the Chinese only the ones who are running the markets in terms of moondollars???
I do know that they possess a big share of BTC, but does that mean that they will ruin it and others can't do anything???

...because it's easier to conflate an entire culture with miners from many countries, united only by their shared involvement in mining pools that are based in China?

I have this crazy idea that miners base their actions on rational self-interest. Pools, too. I can't see how this would change, even if pools were primarily based in - say - the Czech Republic (nods head towards Slush and the BCT historians).

[malzahar]

If anything china would help then break..

If the overwhelming majority in china hopped on bitcoin before u.s folks we already at the $1k value mark on chinas exchange which would effect our price points as well.

[Omega.SportSciencie]

If China is the most prominent nation in the uᴉoɔʇᴉq world, then why would they want to destroy uᴉoɔʇᴉq? It has no sense at all.
By doing this they would literally just fuck themselves. Isn't it better for them to keep uᴉoɔʇᴉq in good health and profit in the long run?

China is just securing their stack of bitcoin while they can.

[bakingbad]

With China now owing about 75% of the mining power i think in all their greed they will destroy bitcoin.
They will never allow the protocol to change to accept larger blocks since it's not in their interest.
You don't have much time left to sell your bags.

Well China is very important for bitcon from day one, and yes,lots of miners are in china, but i don't they that they wouldn't like thing like halving, yes they will get less money but price of bitcoin will rise, so maybe they will get even more profit

[West man]

With China now owing about 75% of the mining power i think in all their greed they will destroy bitcoin.
They will never allow the protocol to change to accept larger blocks since it's not in their interest.
You don't have much time left to sell your bags.

Well China is very important for bitcon from day one, and yes,lots of miners are in china, but i don't they that they wouldn't like thing like halving, yes they will get less money but price of bitcoin will rise, so maybe they will get even more profit

Yes I would also think that the halving will destroy any profit that china miners are getting now and will deter anymore from going into mining in the future. If there is no big profit to be had then chinese are not interested in pursuing into it any further.

[LMGTFY]

With China now owing about 75% of the mining power i think in all their greed they will destroy bitcoin.
They will never allow the protocol to change to accept larger blocks since it's not in their interest.
You don't have much time left to sell your bags.

Well China is very important for bitcon from day one, and yes,lots of miners are in china, but i don't they that they wouldn't like thing like halving, yes they will get less money but price of bitcoin will rise, so maybe they will get even more profit

Yes I would also think that the halving will destroy any profit that china miners are getting now and will deter anymore from going into mining in the future. If there is no big profit to be had then chinese are not interested in pursuing into it any further.

If (and it's a very big "if") that were to happen, then difficulty would decrease. At some point potential miners are going to note the decrease in difficulty and start mining.

This apocalyptic "all miners stop mining" nonsense is silly. We've been through one halving and this didn't happen. Why would it happen this time?

[alyssa85]

If China is the most prominent nation in the bitcoin world, then why would they want to destroy bitcoin? It has no sense at all.
By doing this they would literally just fuck themselves. Isn't it better for them to keep bitcoin in good health and profit in the long run?

They don't actually use BTC, they just mine it and speculate with it. There are no Chinese stores accepting BTC. Also - I think the miners there can't speak English and have no idea the angst the blocksize is creating, so they simply don't know that there is a possibility that BTC might fail. I guess we'll all find out in July when the halving happens. If the price doesn't rise (or if it falls), we might see some movement on the blocksize.

[Raja_MBZ]

Bitcoin is honestly now in control of China. It can destroy or prosper bitcoin, it's choice of Chinese people.

In case of halving, maybe they will change the choice of cryptocurrency to somewhat like ethereum.

[DeathAngel]

Click Kwuckduck post history.  Realize it's an account sold to Zionist banker shills to spam the forum with jibberish.  Never click Kwuckduck threads again.

I've noticed his/her threads/posts before. It's not difficult to spot a shill. Have you noticed how many troll threads are around at the moment?

It's almost like the fear something?

Price rise as a result of the halving?

[romero121]

China will never destroy bitcoin, as they are the only country which support digital currency as well planning to introduce their own digital currency. If they issue their own digital currency then they may try to destroy our bitcoin.

[Xapodat]

China will never destroy bitcoin, as they are the only country which support digital currency as well planning to introduce their own digital currency. If they issue their own digital currency then they may try to destroy our bitcoin.

Many digital currency will be issued by many countries. Bitcoin will be the reserve currency in the digital world.

[MedaR]

Bitcoin is still very young and many problems will come over time, and practical solutions will be found very fast i believe.
I would be worried only if one fractions have 50% of all coins, till then everything is fine. Chinese miners contribute to network stability so from that standpoint they are good. I sense here little US jealousy..