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somacoin (OP)
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May 08, 2016, 09:06:03 PM |
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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?
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Donu
Newbie
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Activity: 23
Merit: 0
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May 08, 2016, 09:07:59 PM |
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Does it really matter?
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somacoin (OP)
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May 08, 2016, 09:11:58 PM |
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Does it really matter?
To me it matters, that's why I'm asking you guys. Is China really controlling Bitcoin? Is Bitcoin really controllable? If so, is it China? |
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LawrenceOfSomalia
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May 08, 2016, 09:12:40 PM |
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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?
https://bitcointalk.org/index.php?topic=1465136.0Stop spamming; Read before you post; don't gamble away the money you make with your shitty signature ad. |
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somacoin (OP)
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May 08, 2016, 09:14:45 PM |
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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?
https://bitcointalk.org/index.php?topic=1465136.0Stop spamming; Read before you post; don't gamble away the money you make with your shitty signature ad. I am not spamming, and please stay away from my thread if you're only here to hate and accuse. Thank you for posting a link at least, LawrenceOfSomalia, Newbie account. |
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Donu
Newbie
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Activity: 23
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May 08, 2016, 09:18:11 PM |
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Im not spamming....
Im asking a valid question? Should we worried? If this is the case, can China have a say on the price of BTC?
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somacoin (OP)
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May 08, 2016, 09:19:57 PM |
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Im not spamming....
Im asking a valid question? Should we worried? If this is the case, can China have a say on the price of BTC?
Yes, China can have a real say on the price of BTC and more. Should we be worried? I don't know if that worries you or not. I personally think Bitcoin should not be controlled by any entitity but it's Bitcoin's fault to some degree. It should have an algorithm that allows mining easily all over the world by anyone, not mega mining farms. |
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interbtc
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May 08, 2016, 09:25:37 PM |
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Yes, China can have a real say on the price of BTC and more.
Should we be worried? I don't know if that worries you or not.
I personally think Bitcoin should not be controlled by any entitity but it's Bitcoin's fault to some degree.
It should have an algorithm that allows mining easily all over the world by anyone, not mega mining farms.
I agree on the notion that mining should have not been so centralised, the way it is now with asic devices. The years before were much more fair to the average person, but theres no turning back now. Even if we wanted to, the large scale players on the mining race would not allow it. But i still dont think it means that China has bitcoin in its grip, it more as if they have kind of unfair advantage over the rest of the world, for now, that is. |
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Laniakea
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May 08, 2016, 09:26:47 PM |
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whew, everyone is voting yes, obviously we've all accepted it as a fact that Bitcoin is Chinese-controlled  |
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Donu
Newbie
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May 08, 2016, 09:27:29 PM |
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"It should have an algorithm that allows mining easily all over the world by anyone, not mega mining farms."
True, I don't even bother to mine BTC, not worth the hassle :/ Only if it was easiler.
Im pretty new to BTC so I don't really have a clue whats going on but would be gutted to see the BTC I do have become worth next to nothing.
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Kotone
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May 08, 2016, 09:30:38 PM |
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they just have a large percentage of mining Bitcoin, that doesnt mean theyre centralizing bitcoin.
But if they work together, they can attack bitcoin.
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Laniakea
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May 08, 2016, 09:35:04 PM |
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whew, everyone is voting yes, obviously we've all accepted it as a fact that Bitcoin is Chinese-controlled Well isn't that how it works: Who ever holds the most amounts of bitcoins control the market and thus it's value? Of course they influence the price. As a nation they hold the most bitcoin in the world. Does the Chinese government hold Bitcoin too? |
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criptix
Legendary
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Activity: 2464
Merit: 1145
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May 08, 2016, 09:41:20 PM |
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The poll has spoken we are all mindless communist china zombies!
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LawrenceOfSomalia
Newbie
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Activity: 5
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May 08, 2016, 09:46:19 PM |
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Im not spamming....
Im asking a valid question? Should we worried? If this is the case, can China have a say on the price of BTC?
You are spamming. The question is already being discussed here https://bitcointalk.org/index.php?topic=1465136.0But you're too lazy to read, because your fucking sig spam doesn't pay you for reading, only for posting. |
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criptix
Legendary
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Activity: 2464
Merit: 1145
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May 08, 2016, 09:54:54 PM |
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Im not spamming....
Im asking a valid question? Should we worried? If this is the case, can China have a say on the price of BTC?
You are spamming. The question is already being discussed here https://bitcointalk.org/index.php?topic=1465136.0But you're too lazy to read, because your fucking sig spam doesn't pay you for reading, only for posting.    |
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MingLee
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May 08, 2016, 10:11:28 PM |
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You guys are talking about this like China as a nation controls the mining power.
China doesn't control Bitcoin because their geographical location has the most hashing power. Individual pools are what matter, or pools that are in a coalition and are aiming to control Bitcoin one way or another.
I'm not going to lie, this is starting to get annoying. Just because mining power is centered around a country doesn't mean they control Bitcoin. You can't control Bitcoin just by having the most hashing power in an area. Are you even thinking about how the technology works?
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raphma
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May 08, 2016, 10:31:14 PM |
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Is china controlling bitcoin? might be... i would say yes.
Should we worry? i dont think so... what could they do? stop farming? try a big dump and ruin themselves?
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ArticMine
Legendary
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Activity: 2282
Merit: 1050
Monero Core Team
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May 08, 2016, 10:46:29 PM |
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If the majority of the Bitcoin hashing power is physically located in China, then the Government of China has sovereign control over Bitcoin.
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mookid
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May 09, 2016, 05:20:20 AM |
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I would not say that Chinas has direct control of Bitcoin, but it is worrying that the main portion of the hashing power comes from a country with an oppressive totalitarian regime.
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Poll
