Fucking Chinese - Part 2

[RawDog]

see, this right here is high bullshit...
https://www.cryptocoinsnews.com/china-oil-bitcoin-mining-theft/

The fucking Chinese are stealing electricity, polluting the Earth with no conscience whatever, and taking over control of Bitcoin. 

Bitcoin is totally under the control of about 6 Chinese miners.  The only reason they put all other miners out of business is because they have no morals and steal electricity.  Now, all mining and control of the Bitcoin protocol is in the hands of these immoral bastards.

Fucking Chinese.

[1715060400]

1715060400

[1715060400]

1715060400

[1715060400]

1715060400

[1715060400]

1715060400

[newIndia]

This thread is going to be a long troll fight.

[calkob]

2hrs and still nothing, Surprised lol 

[Shady]

The Chinese have been known to have an extensive hardware farming industry so this is just one more thing that will stimulate this economy like with every other.

Just give this entire boom time and see the benefits, the same thing happened when foreign countries took up on what America did with gold rushes... China has been doing phenomenal with each and every strategic point up through the international ecosystem.

This entire scandal may only have to do with a select few compared to the goods produced by top farmers. I don't think this will take long to crack before it goes back to the way things were.

[RawDog]

China has been doing phenomenal with each and every strategic point.

Yeah, stealing electricity and pumping many tons of carbon exhaust into the atmosphere is 'doing phenomenal'.  The little fuckers are poisoning the planet and cheating while doing it.  All for a few digital trinkets.  Fuck!

[franky1]

if you do the maths. these thefts are not from the big pools.. but from 'hobby' miners.

1000 unit siezed from 12 locations.. that less than 84 units per location on average.

yet the main pools have HUNDREDS of thousands each.. thus unrelated to pools/farms

to me i see this as some 12 poor guys bypassing their residential electricity meter. and has nothing to do with the big players.
the funnier thing is many libertarians and survivalists in america also bypass their residential electricity meters to not have to pay electric to the corps they hate.
many stories in america of people stealing cable from their neighbour.

i dont see this as an attack against the pools.. just the small hobby miners that have no morals but lots of greed

[rapazev]

China has been doing phenomenal with each and every strategic point.

Yeah, stealing electricity and pumping many tons of carbon exhaust into the atmosphere is 'doing phenomenal'.  The little fuckers are poisoning the planet and cheating while doing it.  All for a few digital trinkets.  Fuck!

weren't they stealing energy from a oil plant(which would be pumping many tons of carbon exhaust into the atmosphere anyway)?
dont get me wrong, agree this isnt right... but every fuck*ng place on earth have citizens stealing energy from somewhere to mine bitcoin/altcoins....

[x4]

Chinese will always fucking chinese, they will do what they want even they steal and do illegal things. I dont think if this will brought a huge effect on bitcoin price, its more than 1000 bitcoin miner were seized though.

[QuestionAuthority]

Rawdog, I wish it wasn't you that posted this because all the people that have you on ignore aren't going to see it and it is a valid point for discussion. These mining farms could profit a lot longer than anyone else after reward drops essentially forcing other farms out of business.

[RawDog]

Rawdog, I wish it wasn't you that posted this because all the people that have you on ignore aren't going to see it and it is a valid point for discussion. These mining farms could profit a lot longer than anyone else after reward drops essentially forcing other farms out of business.

WTF?  People put me on 'ignore'?  Why the hell would they do that? 

[mrcash02]

Well, Bitcoin system didn't predicted this could happen... Someone with much mining power and cheap electricity could "control" Bitcoins having much advantage to get it faster than others in big amounts. Nothing to do about it, try to create the Fucking Chinese coin and pump it to weaken Bitcoin and stop the chinese monopoly. 

[valley365]

Lol, the problem is that they stole electricity from the state to mine bitcoin. No wonder their cost is low. Now with many of these operations shut down, do we need any decrease in bitcoin hashpower? I don't think so.

[franky1]

Rawdog, I wish it wasn't you that posted this because all the people that have you on ignore aren't going to see it and it is a valid point for discussion. These mining farms could profit a lot longer than anyone else after reward drops essentially forcing other farms out of business.

you will always have some greedy hobbiest trying to syphon free cable/electric from neighbours.
the fact they authorities only found 12 people.. is nothing shocking or newsworthy.

as for immorals of bitcoin mining and the cost saving.... is only ~$225 every 6months per ASIC.(based on china's average 5cent/kwh electric)
i dont see this immoral greed outwighing the cost saving that real farms make by manufacturing the ASICS.

take bitmain. at a cost of only a couple hundred dollars to make a rig but retailing it at $1,500.. ever customer they have is literally giving bitmain a couple rigs to run FOR FREE.

EG
customer buys a rig @$1500.. bitmain can make 5 rigs for that. or 3 rigs and have $600 spare in their pocket.
so they hand one rig to the customer.. and then bitmain run their 2 remaining 'free' rigs themselves and have $600 spare to cover electric for both of those rigs for ~8 months

so even if some hobbiest is stealing electric. it still cost them $1500 for the rig.. which real farms (antpool) dont have any upfront costs. so no worries

[Sundark]

I don't think that China is the only nation in the world where you can achieve zero cost electricity. And this is exactly premise of this thread?
To show that Chinese miners are immoral bastards stealing electricity and trying to take over bitcoin? I don't see anyone fighting them with hash power, only with words.

[RawDog]

Rawdog, I wish it wasn't you that posted this because all the people that have you on ignore aren't going to see it and it is a valid point for discussion. These mining farms could profit a lot longer than anyone else after reward drops essentially forcing other farms out of business.

you will always have some greedy hobbiest trying to syphon free cable/electric from neighbours.
the fact they authorities only found 12 people.. is nothing shocking or newsworthy.

as for immorals of bitcoin mining and the cost saving.... is only ~$225 every 6months per ASIC.(based on china's average 5cent/kwh electric)
i dont see this immoral greed outwighing the cost saving that real farms make by manufacturing the ASICS.

take bitmain. at a cost of only a couple hundred dollars to make a rig but retailing it at $1,500.. ever customer they have is literally giving bitmain a couple rigs to run FOR FREE.

EG
customer buys a rig @$1500.. bitmain can make 5 rigs for that. or 3 rigs and have $600 spare in their pocket.
so they hand one rig to the customer.. and then bitmain run their 2 remaining 'free' rigs themselves and have $600 spare to cover electric for both of those rigs for ~8 months

so even if some hobbiest is stealing electric. it still cost them $1500 for the rig.. which real farms (antpool) dont have any upfront costs. so no worries

You are totally confused. 

China is still subsidizing mining because .05/kWhr is below that actual cost to make electricity.  China does this by fucking up the Earth which belongs to everyone.  When you are a careless shithead who pollutes without regard for others, to achieve dominance in bitcoin, you are evil. 

That is a fact.

[franky1]

I don't think that China is the only nation in the world where you can achieve zero cost electricity. And this is exactly premise of this thread?
To show that Chinese miners are immoral bastards stealing electricity and trying to take over bitcoin? I don't see anyone fighting them with hash power, only with words.

if american homes stole electric for their hobbies they would say they are doing it as their legal right to revolution or some other crap.
but if just 12 people in china do it. we see all the doomsday exaggerations.. in short racist hypocrits (by the way im a white brit)

[Yakamoto]

see, this right here is high bullshit...
https://www.cryptocoinsnews.com/china-oil-bitcoin-mining-theft/

The fucking Chinese are stealing electricity, polluting the Earth with no conscience whatever, and taking over control of Bitcoin. 

Bitcoin is totally under the control of about 6 Chinese miners.  The only reason they put all other miners out of business is because they have no morals and steal electricity.  Now, all mining and control of the Bitcoin protocol is in the hands of these immoral bastards.

Fucking Chinese.

I'm not sure if this is supposed to be surprising to a lot of people, but the fact of the matter is this is something the Chinese do; they are very, very, very efficient when it comes to it, and they strive for peak control and efficiency.

They are immoral, they value things beyond themselves very little, but stuff like this is ingrained in their culture. It's insane.

[RawDog]

but the fact of the matter is this is something the Chinese do; they are very, very, very efficient when it comes to it, and they strive for peak control and efficiency.

Royally fucking the Earth without regard for others is not 'peak control and efficiency'  - it is reckless abandon and selfishness.  WTF is wrong with you god-damned people?

[Yakamoto]

but the fact of the matter is this is something the Chinese do; they are very, very, very efficient when it comes to it, and they strive for peak control and efficiency.

Royally fucking the Earth without regard for others is not 'peak control and efficiency'  - it is reckless abandon and selfishness.  WTF is wrong with you god-damned people?

I never said it was a good thing. Where did I say that their efficiency (and it's consequences) was a good thing?

It is reckless, it is selfish, but for a lot of Chinese they want to be successful because there are another 1.x billion of them and they have to stand out. Them wrecking the earth is a terrible thing; the first steps towards fixing the environment is to stop trade with China and force them to downsize and fix their shit.

[RawDog]

but the fact of the matter is this is something the Chinese do; they are very, very, very efficient when it comes to it, and they strive for peak control and efficiency.

Royally fucking the Earth without regard for others is not 'peak control and efficiency'  - it is reckless abandon and selfishness.  WTF is wrong with you god-damned people?

I never said it was a good thing. Where did I say that their efficiency (and it's consequences) was a good thing?

It is reckless, it is selfish, but for a lot of Chinese they want to be successful because there are another 1.x billion of them and they have to stand out. Them wrecking the earth is a terrible thing; the first steps towards fixing the environment is to stop trade with China and force them to downsize and fix their shit.

Hey Yakamoto, thanks for the backup.  But, you better save your advice on fixing the Earth for your cousins down in Fukushima.  I am sure they could use a little help regarding how to not royal fuck the planet.  By the way, how do those glow-in-the-dark dolphins look anyway?