@kiklo
Agreed with all of your opinions on it.
i just don't see it as a Chinese thing.
I fear it is designed wrong.
If it does not provide a financial incentive to who may be mining then.. fail ?
Someone forgot the scene was greedy
PS:
I am all for Chinese domination criticism.
But would it be any different if it was the Dutch or Pakistani or bloody eskimo's from Alaska ?
..way i see it is the crap gets launched and it's fair game. (it's a race like a marathon)
Would i bitch about skinny Africans winning each race because they are better ?
It's not their nationality it's their effort they put into it to win !
I can't fault Husein bolt for beeing a
bolt Unless you are claiming the Chinese are a superior race and there for we should handicap them in the game.
Should the Chinese have been forced to wait until later to start mining BTC + LTC ?
..giving the rest of us an edge.
Hi Spoetnik,
It would not matter which country dominated BTC or LTC, It is bad no matter who has over 51%,
over 51% in a PoW coin means they have the power to block all transactions, they don't like.
Facts are it is China , and will be for the life of BTC from the looks of it.
In no way am I saying the Chinese should be handicapped for their efforts,
but the pretense that they are not in control of BTC is utterly ridiculous
(Which some try and perpetuate.) If the Tariff Conflict between the US & China happens, it is beyond stupid to say they can't retaliate by blocking our BTC or LTC transactions.
And I personally have no issue with China doing that, however my issue is that people should know it is a possibility.
If I buy Canadian Dollars or US Dollars or Japanese Yen or Chinese Yuan, then I know which country is supporting it .
The Falsehood that BTC/LTC is Decentralized and no one can dominate it , will cause some people to make bad investment decisions,
Which is why I use the Phrase BTC= Better Trust China or LTC= Lets Trust China , so it sinks in , and people can make informed investments decisions.
Not paying attention to China will cause people to lose money like so:
https://cointelegraph.com/news/bitcoin-price-falls-9-overnight-as-2-chinese-exchanges-stop-withdrawalsIn the morning of Jan. 9, almost immediately after a meeting took place between nine Chinese Bitcoin exchanges and the People’s Bank of China (PBoC), Huobi and OKCoin abruptly disabled withdrawals for Bitcoin and litecoin funds for up to one month. OKCoin and Huobi told users that they were asked to upgrade their Anti-Money Laundering systems to ensure they are in compliance with local financial and money transmission regulations.
China is not taking a hand off approach , they are directly manipulating the markets, which they would not be able to do , if they did not dominate the coin.
It is a fact, nothing more nothing less.
