Chinese miners controls Bitcoin Bloomberg Confirms!

[cbreum]

http://rimbit.com/threads/bloomberg-confirms-what-rimbit-has-been-saying-bitcoin%E2%80%99s-fate-hinges-on-huge-chinese-miners.5944/#post-12998

That's why Rimbit is the better crypto!


https://www.youtube.com/channel/UCLNAsYoan3nosdkF6Svp9Aw

[unamis76]

Numbers on the Bloomberg article aren't really exact. So why is Rimbit better? Haven't heard of it yet.

[Doamader]

We have several big companies located at china, and they have a lot of the total hash but saying they control bitcoin isnt the right thing, the early adopters has a word to say, and there are people with a good ammount of bitcoins not sold yet.

[20kevin20]

I don't really think BTC is being controlled by China. The price doesn't change only because of the companies that got most of the hash power. We are a good factor for the price, although we don't have much in our wallets. Everyone selling except the Chinese miners would bring BTC down really easy and fast.

[coindancer]

what would be so bad if this would be true? don't they have an interest in a high price?

[MingLee]

http://rimbit.com/threads/bloomberg-confirms-what-rimbit-has-been-saying-bitcoin%E2%80%99s-fate-hinges-on-huge-chinese-miners.5944/#post-12998

That's why Rimbit is the better crypto!


https://www.youtube.com/channel/UCLNAsYoan3nosdkF6Svp9Aw

Bitcoin's fate hinges on Chinese miners as long as they remain relevant, if the community really cares they would be able to ignore the miners and fork off to whatever they want to and just have to deal with less hashing power. The Chinese miners are only important as long as they stay on the same chain. Even if they are constantly relevant and nothing changes, it still doesn't matter as to what the miner's nationality is. Why do you care?

Also the shameless plug for Rimbit makes me less interested. I don't want some other shitty crypto.

[Kprawn]

http://rimbit.com/threads/bloomberg-confirms-what-rimbit-has-been-saying-bitcoin%E2%80%99s-fate-hinges-on-huge-chinese-miners.5944/#post-12998

That's why Rimbit is the better crypto!


https://www.youtube.com/channel/UCLNAsYoan3nosdkF6Svp9Aw

Bitcoin's fate hinges on Chinese miners as long as they remain relevant, if the community really cares they would be able to ignore the miners and fork off to whatever they want to and just have to deal with less hashing power. The Chinese miners are only important as long as they stay on the same chain. Even if they are constantly relevant and nothing changes, it still doesn't matter as to what the miner's nationality is. Why do you care?

Also the shameless plug for Rimbit makes me less interested. I don't want some other shitty crypto.

What stops them from switching to any new fork? They have enough hashing power to mine on different forks at the same time.. if it was needed.  .... I really do not know why people are so

obsessed with the Chinese miners. They have seen a opportunity to make money, and they grabbed it by the horns. There are enough money in the Western world to start massive mining operations,

but investors would rather open up another Mall.  Silicon Valley have enough skills for the manufacturing of the Asic chips needed to do this. 

[Tacalt]

Aren't Alts even easier to "control" then Bitcoin? 

[coindancer]

so i guess this was another FUD post then, since nobody is in panic. which is the reaction i think is right.

[bitcointank]

It is the truth, China controls main hashrate and the price, remember 2013 btc huge pump?? Actually the price was pumped by a Chinese group, happened in Huobi and OKcoin.

[franky1]

whenever i see a 'financial' news service try to scare people away from a sound investment.. its a good time to buy

whenever i see a 'financial' news service try to  oversell and get excited about a sound investment.. its too late to buy, as the positives have already been taken advantage of.. days, weeks or months ago.

so in my eyes.. bad news from bloomberg is good news for me

[bitsoldiers]

this caught me by surprise,though hearing this for the first time....?

[BTCLovingDude]

http://rimbit.com/threads/bloomberg-confirms-what-rimbit-has-been-saying-bitcoin%E2%80%99s-fate-hinges-on-huge-chinese-miners.5944/#post-12998
That's why Rimbit is the better crypto!
https://www.youtube.com/channel/UCLNAsYoan3nosdkF6Svp9Aw

everybody thinks the altcoin they are bag-holding themselves is the best thing in the world and will replace bitcoin, this has been the way for many years. each year you hear about a new coin coming out that thinks they are the one true coin to replace them all lol.
but after a while you see them all die after the pump and dump period ended.

whenever i see a 'financial' news service try to scare people away from a sound investment.. its a good time to buy

whenever i see a 'financial' news service try to  oversell and get excited about a sound investment.. its too late to buy, as the positives have already been taken advantage of.. days, weeks or months ago.

so in my eyes.. bad news from bloomberg is good news for me

i couldn't agree more.

[sempak]

I suppose it could happen. miners from china very much at all. they can do it all with ease.
their strength is in the number of miner.

[franky1]

everybody thinks the altcoin they are bag-holding themselves is the best thing in the world and will replace bitcoin, this has been the way for many years. each year you hear about a new coin coming out that thinks they are the one true coin to replace them all lol.
but after a while you see them all die after the pump and dump period ended.

edited my quote for reference to your reply

whenever i see altcoiners try to oversell and get excited about a sound investment.. its too late to buy, as the positives have already been taken advantage of.. days, weeks or months ago.(pump already happened. and now preparing for the dump where the prepared investors are getting out)

[Pierre 2]

Control is very complicated word.
Do they have power to manipulate, maybe yes?
But total control is too different. And everyone knows chinese do not have total control.

[franky1]

Control is very complicated word.
Do they have power to manipulate, maybe yes?
But total control is too different. And everyone knows chinese do not have total control.

no one was crying when america had over 70% of the network hash power, where only a couple years ago, it was either ATI(majority) or intel(minority) supplying that american demand.
thats because the racial biased mindset imagines america as free independant people. but sees asians as all 1billion people stuck together working in just one sweatshop with a tyranical manager whipping them into action. (complete opposite of the reality in china)

so to me the whole 'china is bad' mindset is actually racial not logical

[davis196]

http://rimbit.com/threads/bloomberg-confirms-what-rimbit-has-been-saying-bitcoin%E2%80%99s-fate-hinges-on-huge-chinese-miners.5944/#post-12998

That's why Rimbit is the better crypto!


https://www.youtube.com/channel/UCLNAsYoan3nosdkF6Svp9Aw

I guess this is another "bitcoin is dying" thread.

Mining bitcoins in China is cheaper and therefore more effective/profitable i guess.

What`s the problem with chinese miners?

[cbreum]

Numbers on the Bloomberg article aren't really exact. So why is Rimbit better? Haven't heard of it yet.

You should look them up at www.rimbit.com and see on IGG https://www.indiegogo.com/projects/rimbit-crypto-development-bitcoin#/

Buy before the price hits $5

[cbreum]

I don't really think BTC is being controlled by China. The price doesn't change only because of the companies that got most of the hash power. We are a good factor for the price, although we don't have much in our wallets. Everyone selling except the Chinese miners would bring BTC down really easy and fast.

It's okay to be naive....