Bitcoin IS basically ALIVE

[Laniakea]

We have a nice thread that proposes AnonyMint's view that Bitcoin('s decentralization) IS in fact destroyed at the very moment, by Chinese mining operations.

I say the opposite: Chinese mining operations live off Bitcoin, which is an American invention. Bitcoin is alive and kicking as can be;  network is doing amazingly well.

[Junko]

Bitcoin is an American invention? Has this been confirmed for sure?

[sockpuppet1]

We have a nice thread that proposes AnonyMint's view that Bitcoin IS in fact destroyed at the very moment, by Chinese mining operations.

The decentralization is destroyed because Satoshi designed it to do that failure, but the functionality/operation of the coin is not (yet) destroyed.

Please understand carefully the distinction.

Yes Bitcoin IS basically ALIVE if you are referring to the functioning of the coin. But the control of the block chain is becoming ever more centralized and controlled by a small group of mining farm owners. And with this control, they have already started to do their 51% attacks on Bitcoin in order to control the block size and drive transaction fees sky high.

But don't worry that they are raping us and will be raping us more in the future. We love when the banks rape us by getting QE from Bernanke. We love the miners to do the same thing to Bitcoin. We love to bend over and take it in our ass. That is why we are Bit(ret)ards.

[Laniakea]

Bitcoin is an American invention? Has this been confirmed for sure?

I guess not, but judging from Satoshi's posts I propose the view that it is an American Invention

[Wapinter]

Bitcoin is alive and will be alive as long as we have faith in it.Who holds the most mining power or has largest transactions doesn't make any much difference.We are the owner of bitcoin that we possess not China

[DooMAD]

There's no single entity with 51% of the hash rate, so there's only a problem if you're working under the assumption that mining pools must be colluding because they happen to reside within the same arbitrary borders and communists made them do it... or something like that, anyway.  

Here's the state of the network over the last 24 hours:


I remain unconcerned.

[newbtcminer]

Anyone else think it's possible that large mining farms will start to reinvest their earnings into making Bitcoin more widespread as mining becomes less profitable and they can't develop more efficient mining hardware fast enough? It would benefit them because coins would be worth more, so they could keep mining for a little bit longer.

[prettybuds]

Here's the state of the network over the last 24 hours:


I remain unconcerned.

Yes! I wanted to post something very similar. Right u are.

PS.Team Hellspawn

[newbtcminer]

There's no single entity with 51% of the hash rate, so there's only a problem if you're working under the assumption that mining pools must be colluding because they happen to reside within the same arbitrary borders and communists made them do it... or something like that, anyway.  

Here's the state of the network over the last 24 hours:
[snip]

I remain unconcerned.

I agree. I think most people who use Bitcoin understand the issues with centralization, so it'd be quite foolish for one of these companies to attempt to growth their mining share. People would likely protest by abandoning their services. Not saying it would kill them, they've obviously got miners of their own, but they'd get the message.

[twunkle]

Why do the charts matter, from the (little) news ive seen they are fairly united?

[jjoorriissjjuuhh]

WE still need btc, and the value will stay up because of that.

[BitBerau]

Bitcoin is an American invention? Has this been confirmed for sure?

I guess not, but judging from Satoshi's posts I propose the view that it is an American Invention

That's what I was just wondering about a while ago.
I think Satoshi is a Japanese nationalist that moved to America so he is an American with Japanese ties. 

[Boosterious]

We have a nice thread that proposes AnonyMint's view that Bitcoin('s decentralization) IS in fact destroyed at the very moment, by Chinese mining operations.

I say the opposite: Chinese mining operations live off Bitcoin, which is an American invention. Bitcoin is alive and kicking as can be;  network is doing amazingly well.

other thread talk about" Bitcoin IS basically DESTROYED" and now create the opposite. i wish you are chinese people who really know what you talk about,i'm agree with this,but need more better proof that china is live off Bitcoin.

[knowhow]

As long there isnt a control of 51% of the hash wont make chinese companies being in control of the bitcoin.The most coins of bitcoin has already been mined and there are some companies working at China that belongs to american investors as well others unknow investors ,the thing is bitcoin is a sucess worldwide as the interest into mining it,a lot money were invested into those .

[Blacula X]

There's no single entity with 51% of the hash rate, so there's only a problem if you're working under the assumption that mining pools must be colluding because they happen to reside within the same arbitrary borders and communists made them do it... or something like that, anyway.  

It's not that they reside within the same arbitrary borders, it's that they literally hang out together, devs haggle with them, as a unit, before they make changes.

http://s32.postimg.org/q5n7wk6bp/bitches.jpg

"Communists" simply subsidize their power, and could nationalize their mines if they so choose. Because that's what Communism means, nationalized means of production. That's the only reason it's relevant.

[odolvlobo]

Bitcoin is an American invention? Has this been confirmed for sure?

I guess not, but judging from Satoshi's posts I propose the view that it is an American Invention

Are you assuming that Satoshi is American? He used British spelling, so he is probably not American.

[The Sceptical Chymist]

Bitcoin is an American invention? Has this been confirmed for sure?

I guess not, but judging from Satoshi's posts I propose the view that it is an American Invention

Well it might be, but it's a global thing now, like Coca-Cola.   I'm happy to drink a Coke with all of China and I'm happy they're so into bitcoin.  Bitcoin ain't anywhere near dead.

[angaper]

American invention!!! I have never read similar senseless affirmation in this forum, despite the multiple bullshit things usually written out there.

[7788bitcoin]

Bitcoin is an American invention? Has this been confirmed for sure?

I guess not, but judging from Satoshi's posts I propose the view that it is an American Invention

Are you assuming that Satoshi is American? He used British spelling, so he is probably not American.

Most Commonwealth countries use British spelling... Do you mean he is from one of the countries? Australia is one of them so maybe the real Satoshi has already shown himself.

[SFR10]

First of all, it would be better to not put up our own assumptions in the thread (American invention), since you already stated on your 2nd comment (I guess not) plus there was a word used by him "colour" that is an indication of being non American (he/she could be British, Canadian or any other nationality that use that type of spelling).
Some links:
https://bitcointalk.org/index.php?topic=1427158.msg14441255#msg14441255
https://en.wikipedia.org/wiki/American_and_British_English_spelling_differences#cite_ref-10

Now about Chinese people destroyed BTCitcoins decentralization, can't agree that as well since none of them own half of the hash rates until now and even though many of them often are in contact with devs, it's most likely just to have an insight of certain situations that could either go with their plans or not.