OROBTC
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Activity: 2912
Merit: 1852
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June 27, 2016, 02:09:10 AM |
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...
I really do not have any idea if "China" is or not. My *guess* would be no, but "China" is a slippery concept... Their government?
I did read a rumor today that F2Pool, AntPool and BTCC are actually all owned (or in part) by the same or related entities in China. I cannot remember where I read that, it seems unlikely, but possible. In any case the relatively strong centralization of mining is a concern, and to my knowledge was not anticipated nor discussed by the Bitcoin pioneers. With over 60% of Bitcoin mining (miners confirm BTC transactions!), that is a tad worrisome...
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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boyptc
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June 27, 2016, 03:38:52 AM |
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The title to this thread should be Is CHINA TROLLING Bitcoin.
All these shills saying that "We control Bitcoin" obviously work for someone in China.
Well China has the most miners but that doesn't mean that they are controlling bitcoin with their powers. I don't know why people think that China is the one who controls of bitcoin just because of the majority of miners comes from them. |
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afriezalie
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June 27, 2016, 03:48:44 AM |
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Maybe yes maybe no. Who knows about that? China has the most hashrate, but we know that bitcoin isn't controlable untill someone has 51% network share, not a country. In the other side, I can say china market is almost controlling the price right now with the huge transaction amount everyday. However, that situation doesn't affect me at all as long as their government doesn't control bitcoin.
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ziiip
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Activity: 255
Merit: 102
uBlock.it Admin
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June 27, 2016, 04:50:54 AM |
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Miners should move to p2pool to help prevent further decentralization.
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boyptc
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June 27, 2016, 05:16:03 AM |
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Miners should move to p2pool to help prevent further decentralization.
I don't think it will happen. Everything now is on the move and no one can stop what is happening in the circulation today. And most of the miners are Chinese. And I don't know if that will help. |
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X-ray
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June 27, 2016, 05:22:15 AM |
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Miners should move to p2pool to help prevent further decentralization.
I don't think it will happen. Everything now is on the move and no one can stop what is happening in the circulation today. And most of the miners are Chinese. And I don't know if that will help. But china can;t controlling the bitcoin maybe better to called the china's miners giving a big effect for bitcoin of global users. Chinese have a power to giving global effect for bitcoin because their miners. |
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boyptc
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June 27, 2016, 05:38:42 AM |
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Miners should move to p2pool to help prevent further decentralization.
I don't think it will happen. Everything now is on the move and no one can stop what is happening in the circulation today. And most of the miners are Chinese. And I don't know if that will help. But china can;t controlling the bitcoin maybe better to called the china's miners giving a big effect for bitcoin of global users. Chinese have a power to giving global effect for bitcoin because their miners. You are right, China can't control just because most of the miners are Chinese. But there is a big effect in the economy of it. But we don't what they are doing on how they mine. |
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2double0
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Merit: 1105
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June 27, 2016, 05:41:37 AM |
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No doubt that Chinese have a big market than most of us here, but still they cannot control bitcoins as there are many whales from other countries who can still stabilize the situations that might occur due to these Chinese.
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funkenstein
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Merit: 1050
Khazad ai-menu!
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June 27, 2016, 08:08:35 AM
Last edit: June 27, 2016, 09:17:40 AM by funkenstein |
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Lol!! What a funny thread.
It seems many of you believe that "China" is some sort of thing that A) exists in a well defined way and B) is capable of controlling bitcoin.
However none of you have the same ideas of what this thing is, some referring to it as "it" others "they" or "them". Probably a "she" in there too.
Perhaps you are referring to people who read 中文 , that's a good number of folks who live in southeast asia, and all around the world, or those who speak 普通话 another good number (though quite a bit smaller number) of folks around the world.
Or maybe you meant those who hold PRC passports, referred to as rich mainlanders. Maybe you mean 北京人 as opposed to their rivals in 上海. Or maybe you mean people from the republic of China (aka Taiwan).
Or maybe you refer to a loosely defined group of people with similar phenotypical features they call Han people. That's a fair percentage of the folks who were born inside of what Beijing people usually call the territory under some sort of control by "the party", another thing which by the way doesn't really exist apart from for show.
What does exist are people, people who may or may not choose to wave flags if they think morons will be thusly affected by the flag waving.
Don't give any quarter to that idiocy. Talk about people capable of action, not about fictitious persons like mickey mouse and uncle sam.
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Legasean
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June 27, 2016, 09:00:15 AM |
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I dont think china is controllign the bitcoin there are allot of people who think this is a thing of china to earn allot of money but it must be someone
who had a great idea and put all the bitcoins in the cloud witch people are miining. I only do not understand why the real maker of the bitcoin
wont come out of his shell.
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DOGE12321
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June 27, 2016, 09:17:05 AM |
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People here have claimed that Bitcoin is in fact controlled and ruled by China, as mining is centralized by Chinese mining institutions.
Do you think that China is controlling/ruling bitcoin yes or no?
It is true that a lot of Bitcoin mining is based in China. It is also hugely popular to mine in such large quantities. I would say, in a sense, China does control Bitcoin. |
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VERUMinNUMERIS
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June 27, 2016, 09:41:49 AM |
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People here have claimed that Bitcoin is in fact controlled and ruled by China, as mining is centralized by Chinese mining institutions.
Do you think that China is controlling/ruling bitcoin yes or no?
No. Look at the big players behind Bitcoin (outside of mining) they're mostly wealthy powerful Americans and Europeans. They're gonna have to learn to compromise. |
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Kewatia
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June 29, 2016, 09:21:13 AM |
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People here have claimed that Bitcoin is in fact controlled and ruled by China, as mining is centralized by Chinese mining institutions.
Do you think that China is controlling/ruling bitcoin yes or no?
No. Look at the big players behind Bitcoin (outside of mining) they're mostly wealthy powerful Americans and Europeans. They're gonna have to learn to compromise. The famous bitcoin owners such as Roger Ver, The twin brothers are all Western. The Chinese are just miners. |
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pinkpanther03
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June 30, 2016, 06:55:04 AM |
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I don't believe that china's controlling Bitcoins, Bitcoin is decentralized which means even the government or banks can't control it.  |
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Enotche
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June 30, 2016, 08:24:32 AM |
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Two years ago China accounted for only 40% of all the equipment for the extraction of Bitcoin in the world. Today, the proportion reached 70%. So Chinese mines are important for the whole world
If these pools throw Bitcoin mining, the network may stall and blocks can not move.
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1Referee
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Merit: 1427
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June 30, 2016, 08:42:41 AM |
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I don't believe that china's controlling Bitcoins, Bitcoin is decentralized which means even the government or banks can't control it. China's daily BTC volume : +93% of all the volume. China's dominance in the total hashing power : +80% Don't forget the fact that Chinese exchanges are heavily involved in the mining industry. It's in their benefit that the price has to go up year on year. If it's not by "legit" demand, then it will get an extra push from the exchanges there. |
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wiked1
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June 30, 2016, 09:34:29 AM |
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Chinese miners revolt & announce "Terminator Plan".
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According to the Chinese translation [summary]:
- Core defaulted on HK consensus and doesn't honor 2MB increase.
- Chinese miners to unite to implement Classic which supports 2MB increase and SegWit
- Urge all miners to unite to support the Terminator Plan
---
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saiha
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June 30, 2016, 10:01:05 AM |
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Well IMO China is not controlling bitcoin. Well no one can control it and there are many factors now that affects the current price rise and it is not because of China. It is also because of factors like brexit, segwit and the likes.
That's right, because even they have the majority of miners still they can't control bitcoin. It is a decentralized currency. And we are all controlling it. The power of all users are controlling the flow of bitcoin and the demand of it. |
Vires in Numeris
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freshman777
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June 30, 2016, 10:07:24 AM |
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Well IMO China is not controlling bitcoin. Well no one can control it and there are many factors now that affects the current price rise and it is not because of China. It is also because of factors like brexit, segwit and the likes.
That's right, because even they have the majority of miners still they can't control bitcoin. It is a decentralized currency. And we are all controlling it. The power of all users are controlling the flow of bitcoin and the demand of it. N00bs parroting delusions. |
ARDOR - Blockchain as a Service. Three birds with one stone. /// Do not hold NXT at exchanges, NXT wallets: core+lite, mobile Android
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marcus_of_augustus
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Activity: 3920
Merit: 2348
Eadem mutata resurgo
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June 30, 2016, 10:09:05 AM |
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Well IMO China is not controlling bitcoin. Well no one can control it and there are many factors now that affects the current price rise and it is not because of China. It is also because of factors like brexit, segwit and the likes.
That's right, because even they have the majority of miners still they can't control bitcoin. It is a decentralized currency. And we are all controlling it. The power of all users are controlling the flow of bitcoin and the demand of it. N00bs parroting delusions. Idiots parroting FUCD and lies are not much better. |
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