[2016-11-05]We Should Be Applauding Bitcoin Mining Centralization in China

[MadGamer]

The Bitcoin mining community, a very valuable and powerful association, always seems to have this “elephant in the room.” This elephant would happen to be the massive stranglehold that China has over the globe’s total Bitcoin production. Very few have seen this as a positive development within the spectrum of Bitcoin.

This has been a constant source of consternation inside and outside of the Bitcoin mining community since the aforementioned evidence of mining life became apparent in 2014, when China flipped the Bitcoin production script.

Regarding this topic, Bitcoin mentor, and master orator Andreas Antonopoulos has a unique take on how this, in the overall sphere of things, may be considered a positive rather than negative development.


https://cointelegraph.com/news/andreas-antonopoulos-we-should-be-applauding-bitcoin-mining-centralization-in-china

[aso118]

The author says that Bitcoin has not suffered one bit due to this centralization... We can only say that until now, it has not suffered. The problem is that it will always be a Damocle's sword hanging over Bitcoin's head.

[NeuroticFish]

There's a (healthy?) fear of the chinese everywhere. OK.
There's also a fear of centralization. Normally.
But the chinese mining grows to get your money. They will not hurt Bitcoin. It would be bad business.
It's OK to keep an eye on them, just try to not get paranoid, people.