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Author Topic: BTC is amazing. But...  (Read 1403 times)
andrew24p
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July 29, 2017, 02:12:45 PM
 #41

Its a free market so if chinese miners get blocked, then other miners will sprout up. They could even still sell the hardware and just not run it.

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July 29, 2017, 02:19:00 PM
 #42

Someday sooner or later, If the chinese goverment blocked the Internet access to the whole world,
What can we do?

Do we have any availible plan to protect the great-BTC-chain?


Offcourse, it would most probably end Bitcoin. Majority of mining power is in China. Banning China from mining would obviously have a huge and a negative effect on Bitcoin. But Chinese government banning internet on the whole is quite hypothetical. It would affect Chinese economy to a great extent which not government would be aiming for.
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July 29, 2017, 02:31:10 PM
 #43

If china does such thing,then here will be shift of mining dominance from china to other parts of world.New miners would get a great chance to mine more bitcoins.Mining process would continue.Chinese miners would be the losers.Already,china has lost its dominance in bitcoin trading due to actions taken by PBOC.They are no more able to manipulate bitcoin price.If bitcoin mning also stops in china,then china would be totally out of the bitcoin game.Then we would have to only read in history that once china dominated mining and trading.
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July 29, 2017, 02:45:23 PM
 #44

Someday sooner or later, If the chinese goverment blocked the Internet access to the whole world,
What can we do?

Do we have any availible plan to protect the great-BTC-chain?



There is little to no possibilities of a move like this coming from the Chinese government, they would never want to pull a North Korea on their massive population. Communist governments actually go with the usage of Bitcoin without any hassles.
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July 30, 2017, 08:39:51 PM
 #45

Thanks everyone with me talking about my topic. And I carfuly read the reply one by one and I learned so much.

And I have one more worry at this time. If Chinese gov banned all Chinese internet oversea-gateway, but I know the Chinese people will not give up BTCs, then the trouble comes,
There will be two BTC-blockchain in the world,
A:world BTC chain.
B:local Chinese BTC chain.
And the informations will be seprated and who is the right?

If when that bad moment comes, Chinese miners and BTC holders giving up their asserts, that will be fine, B chain will dead immediately, A is ok.
That's good.
But if they refused to give up, how can we keep the BTC chain informations Integrity?
Do we have any contingency plan?

Thank you very much.
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