Bitcoin IS basically DESTROYED

[RoomBot]

This seems to be the thread where you just come and talk shit, like seriously there is just so much garbage spewed there that i cant even take it seriously

^  Nailed it!

[Bitcotalk]

If you are really concerned about chinese bitcoin miners and china's greed in general, you can try to stop using chinese made stuff. But can you? While the big US companies manufacture their stuff mostly in China, what can you do? Nothing.

It is hard to boycott from Chinese products as we need their products for our daily uses and they are not availble in other countries, most of the countries use their imported products.

So the better option is that you should have to concerned about bitcoin and promotion in your country and should have to teach them about its usage and about its mining so a day will come your country will have maximum number of miners.

[RoomBot]

Bitcoin, in fact, as a proven mathematical theory, is something truly ETERNAL.

[knightkon]

I personally think it is to late to destroy bitcoin.  I think it would take an act of government to stop the spread and reach of bitcoin in the near future.  There are so many beneficial uses for it and the only people it will effect is the banks.  The issues with the banks not jumping on board is that the government allows the banks to loan out 10 times the amount of money they have in.  So if they have $1,000,000,000 in their accounts, they can loan out $10,000,000,000 making interest on all of that.  If the government accepted bitcoin, how would the banks do that since there is no federal insurance that can be provided.  Just some more questions.

[ShrykeZ]

Bitcoin, in fact, as a proven mathematical theory, is something truly ETERNAL.

Roombot pretty much summed up what Bitcoin is, unless it is directly sabotaged it will last until the last node stands.

[Hatuferu]

Bitcoin, in fact, as a proven mathematical theory, is something truly ETERNAL.

Roombot pretty much summed up what Bitcoin is, unless it is directly sabotaged it will last until the last node stands.

That's why he is called bot he already summed up that bitcoin is going to be eternal. Well everything in this world is only temporary and look at those
money used by the people in the ancient days it is keep on upgrading from gold , silver and other precious ones changed to fiat money and now bitcoin and I think there is going to be another one to exchange bitcoin or else roombot is right.

Bitcoin is our gold nowadays and there altcoins are the extension of bitcoin and it can be used to help bitcoin in the future, we should be thankful with the altcoins developer as they are here to help bitcoin more successful and they will be hand in hand and will support each other.

[danishcookie]

Bitcoin, in fact, as a proven mathematical theory, is something truly ETERNAL.

Yep, all supercomputers' hash rate can very hardly destroy bitcoin, unless they have 100000000000000 years to decipher.  

[takingthis4]

Bitcoin, in fact, as a proven mathematical theory, is something truly ETERNAL.

Roombot pretty much summed up what Bitcoin is, unless it is directly sabotaged it will last until the last node stands.

you are right, because of that bitcoin is impossible to destroy and i think it can disappear only if internet goes down or something like that

[Bitcoinpro]

what a dumb thread why has anyone posted in here?

""Bitcoin is basically destroyed now with 70% of the mining controlled by China""

going by this metric you would have to be atleast semi-retarded

why wasnt the thread deleted

??

[barrysty1e]

has poster just figured out the majority of world hashrate comes from china?

i swear these forums are going backwards.

[Bitcoinpro]

has poster just figured out the majority of world hashrate comes from china?

i swear these forums are going backwards.

its a misleading thread title at least

i was expecting a hack or something similar

maybe a network weakness, but saying

that nodes/hashrate being located in a certain geographic

area makes a Crypto destroyed to me

seems like a FUD thread at best

he needs to go back to yr 10 physics

the shortest distance between to points is a straight line

[RoomBot]

FUD threads are fun.  You can say anything & it's not off-topic.

[barrysty1e]

its a misleading thread title at least

i was expecting a hack or something similar

maybe a network weakness, but saying

that nodes/hashrate being located in a certain geographic

area makes a Crypto destroyed to me

seems like a FUD thread at best

he needs to go back to yr 10 physics

the shortest distance between to points is a straight line

where is the majority of mining equipment manufactured? china.
after the first 5-6 rounds of mining equipment were released and sold, who decided that hanging onto their own mining exports for much longer and selling for higher prices - as well as monopolizing sha256 power essentially forever? china.
where are antpool, btccpool, f2pool, bw's nodes located? china.
of course there are nodes outside of china, but due to the gfc and its echo-like delay qualities - do you think block propagation is done fairly outside of china? no.

where will you find the highest density of idiots per metre, sadly bitcointalk forums.

[marleybobthedog]

Bitcoin is basically destroyed now with 70% of the mining controlled by China, soon to be 98+%, and with Blockstream implementing their SegWit soft fork Trojan Horse so as Matonis admits can end up increasing the 21 million coins limit.

The entire ecosystem is headed for a clusterfuck.

I honestly believe this is the truth.  What is there to add ?

~CfA~


UPDATE: https://bitcointalk.org/index.php?topic=1465136.msg14789764#msg14789764

They 21 million bitcoin is not a good option because afte reaching 21 million limit its price will go very very high and new user will quit using it and by such bitcoin wotld would get destroyed.

[RoomBot]

Bitcoin is basically destroyed now with 70% of the mining controlled by China, soon to be 98+%, and with Blockstream implementing their SegWit soft fork Trojan Horse so as Matonis admits can end up increasing the 21 million coins limit.

The entire ecosystem is headed for a clusterfuck.

I honestly believe this is the truth.  What is there to add ?

~CfA~


UPDATE: https://bitcointalk.org/index.php?topic=1465136.msg14789764#msg14789764

They 21 million bitcoin is not a good option because afte reaching 21 million limit its price will go very very high and new user will quit using it and by such bitcoin wotld would get destroyed.

Since you can divide BTC to .00000001, it will always be viable. 

If you want to buy something gold, you don't have to buy a whole brick....

[barrysty1e]

Bitcoin is basically destroyed now with 70% of the mining controlled by China, soon to be 98+%, and with Blockstream implementing their SegWit soft fork Trojan Horse so as Matonis admits can end up increasing the 21 million coins limit.

The entire ecosystem is headed for a clusterfuck.

I honestly believe this is the truth.  What is there to add ?

~CfA~


UPDATE: https://bitcointalk.org/index.php?topic=1465136.msg14789764#msg14789764

They 21 million bitcoin is not a good option because afte reaching 21 million limit its price will go very very high and new user will quit using it and by such bitcoin wotld would get destroyed.

The limit is 21 million already.. idiot

[Ardenyham]

Bitcoin, in fact, as a proven mathematical theory, is something truly ETERNAL.

Roombot pretty much summed up what Bitcoin is, unless it is directly sabotaged it will last until the last node stands.

you are right, because of that bitcoin is impossible to destroy and i think it can disappear only if internet goes down or something like that

which is pretty much impossible. I don't think Internet could goes down ever. In that manner bitcoin will live forever and will never be destroyed.

what a dumb thread why has anyone posted in here?

""Bitcoin is basically destroyed now with 70% of the mining controlled by China""

going by this metric you would have to be atleast semi-retarded

why wasnt the thread deleted

??

How? I don't understand your thought Dude. I don't see any effect on bitcoin price, bitcoin's exchange market, bitcoin market, bitcoin's users demand, bitcoin's popularity. then how you can say bitcoin is/will be destroyed just because China mining most of bitcoin?
is this matter who mine bitcoin and where they mine bitcoin?

[vero]

what a dumb thread why has anyone posted in here?

""Bitcoin is basically destroyed now with 70% of the mining controlled by China""

going by this metric you would have to be atleast semi-retarded

why wasnt the thread deleted

??

as long as there are still investors who want to buy bitcoin and hold for long periods of time does not need to worry even 90% of mining is controlled by china.

[RoomBot]

what a dumb thread why has anyone posted in here?

""Bitcoin is basically destroyed now with 70% of the mining controlled by China""

going by this metric you would have to be atleast semi-retarded

why wasnt the thread deleted

??

as long as there are still investors who want to buy bitcoin and hold for long periods of time does not need to worry even 90% of mining is controlled by china.

Some day in the next century when the difficulty gets so high, we might all be grateful for the Chinese investing so much into the network. 

Maybe by then, solar electricity and better ASICs will lower the cost of mining as well.

[greatr]

Bitcoin, in fact, as a proven mathematical theory, is something truly ETERNAL.

thats true, in my opinion bitcoin is going to become huge in the future, in my opinion bitcoin is not destroyed and it never will be destroyed