How community will stop Chinese database [BCH]

[Hirama]

Guys how do you think, can we defend true bitcoin from Chinese miners?
I think they will continue to attack bitcoin in the future.
Also easy hardfork from bch looks like it's private data base and it can be done whenever.

[1714173679]

1714173679

[Palmerson]

Guys how do you think, can we defend true bitcoin from Chinese miners?
I think they will continue to attack bitcoin in the future.
Also easy hardfork from bch looks like it's private data base and it can be done whenever.

I think that they will not be able to do that. The more miners participate in mining the coins the less the reward. They will not long suffer losses. Part of them will return to mining bitcoins. This is the law of the market. For this reason, you can relax and not worry about the fact that the miners will not support bitcoin. Everything will be fine and bitcoin will return to their positions.

[Hirama]

But they spam bitcoin network and looks strange 

[avikz]

Guys how do you think, can we defend true bitcoin from Chinese miners?
I think they will continue to attack bitcoin in the future.
Also easy hardfork from bch looks like it's private data base and it can be done whenever.

That's all about de-centralization. No one has the power to stop others from mining or transacting in to bitcoin. If bitcoin was centralized like any other banking system, that would have been possible. But since it's decentralized, the community can't force their decision. It requires a serious level of intervention and crack-down from Chinese government which can stop miners to mine from their soil. No other person or group can do it.  

[hatshepsut93]

Guys how do you think, can we defend true bitcoin from Chinese miners?
I think they will continue to attack bitcoin in the future.
Also easy hardfork from bch looks like it's private data base and it can be done whenever.

Bitcoin is based on a big assumption that people behave rationally - they do things to maximize their profit while avoiding operating at a loss. But what has been happening recently is that some people are willing to take losses - in a form of spending their money to pump and promote Bitcoin forks, for a long term chance to take control over Bitcoin. For them it's like a risky investment, so to defend ourselves against it we should make it as unprofitable as possible - we should never buy any forks, only sell them, we should also educate others about how forks are just fake coins. Lastly, there's always an option to switch PoW if majority of miners will go completely rogue.

[bitfools]

Guys how do you think, can we defend true bitcoin from Chinese miners?
I think they will continue to attack bitcoin in the future.
Also easy hardfork from bch looks like it's private data base and it can be done whenever.

Bitcoin is based on a big assumption that people behave rationally - they do things to maximize their profit while avoiding operating at a loss. But what has been happening recently is that some people are willing to take losses - in a form of spending their money to pump and promote Bitcoin forks, for a long term chance to take control over Bitcoin. For them it's like a risky investment, so to defend ourselves against it we should make it as unprofitable as possible - we should never buy any forks, only sell them, we should also educate others about how forks are just fake coins. Lastly, there's always an option to switch PoW if majority of miners will go completely rogue.

That 51% be altruistic, but CHINA controls 90% of mining, but all those China miners hate each other, and are not colluding

Soon the CHINA GOV will tax the shit out of the free-loaders in CHINA, the days of FREE HYDRO power going to politically connected  ASHKENAZI-BITMAIN mining companys is over in CHINA.

[bitfools]

Guys how do you think, can we defend true bitcoin from Chinese miners?
I think they will continue to attack bitcoin in the future.
Also easy hardfork from bch looks like it's private data base and it can be done whenever.

That's all about de-centralization. No one has the power to stop others from mining or transacting in to bitcoin. If bitcoin was centralized like any other banking system, that would have been possible. But since it's decentralized, the community can't force their decision. It requires a serious level of intervention and crack-down from Chinese government which can stop miners to mine from their soil. No other person or group can do it.  

JUST tax the shit out of mining, if the GOV thinks that ppl have been getting rich off the "Peoples Electricity" then the GOV will tax the shit out of these farms getting near free hydro.

We all know how China works, if somebody is getting free electricity its because he's paying off politicians.

Every once in awhile the TOP-BRASS in China decide to make a 'corruption' statement and take a few dozen politicians out back and shoot them in the head,

That would change the mining lay of the land quickly

We all known if BITMAIN miners quit getting  'free' electricity their profits would go to zero.

[whitemacna]

No one has the power to stop others from mining or transacting in to bitcoin. If bitcoin was centralized like any other banking system, that would have been possible. But since it's decentralized, the community can't force their decision.I think they will continue to attack bitcoin in the future.