globalking
Copper Member
Newbie
 Offline
Activity: 644
Merit: 0
POINTPAY
|
 |
October 17, 2018, 12:35:25 PM |
|
no, I don't think so it cannot destroy bitcoin up to some extent they can try to do that but they will fail that is the beauty of bitcoin and blockchain
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
kirisakidaichi
Sr. Member
Offline
Activity: 446
Merit: 250
CryptoTalk.Org - Get Paid for every Post!
|
|
October 17, 2018, 12:35:50 PM |
|
I thought it would be hard to stop China if the most bitcoin holders were in China, I didn't think it would be easy to stop this
|
|
|
|
dablatair
Member
Offline
Activity: 324
Merit: 15
|
|
October 17, 2018, 12:39:18 PM |
|
Hello,
Of course china have a lot of power on BTC due to the size of the country and number of unhabitant + miners. Every decision on crypto has a global impact of the markets. But I really doubt that they will take the risk of loosing this global position by taking bad decision against BTC. Also they could not kill it as even if they are dominant they could not control all the minor and as it is decentralized asset it stay free.
|
|
|
|
|
|
Bonsaiav
|
|
October 17, 2018, 12:41:45 PM |
|
it is very difficult to change things like this because the nature of bitcoin is decentralized, there is no regulation to limit someone to mine bitcoin, most of the supply of bitcoin circulation has been obtained by miners in China,
Decentralized or no control from the government, is one of the main weaknesses of this system. The adoption of this decentralized system provides the maximum opportunity for untrue miners to exploit bitcoin mining in an unethical manner (greedy). |
|
|
|
redsap
Member
Offline
Activity: 336
Merit: 10
Harmony for One and All
|
|
October 17, 2018, 12:44:35 PM |
|
China are the most populate country, we know if china are developing their current state to technology even cryptocurrencies and so much miners in there. It difficult to stop them
|
|
|
|
farosa
Full Member
Offline
Activity: 506
Merit: 101
1 & 0 😏
|
|
October 17, 2018, 01:00:35 PM |
|
They can't ruin it, they can only influence the price. In other words, in accordance with many people living in China, crypto trade has spread wider than other countries. As far as I know according to volume, one of the biggest crypto trading countries in the world is China.
|
|
|
|
|
|
Deborah Christine
|
|
October 17, 2018, 01:25:52 PM |
|
nothing can destroy bitcoin including China. because bitcoin is not dependent and not bound to any country. bitcoin will be destroyed if left by its investors and supporters. and in my opinion it's impossible.
|
|
|
|
|
|
Destroyeroff98
|
|
October 17, 2018, 01:34:00 PM |
|
very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.
in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.
Is there a solution to stop that potency ?
China controls not only the Bitcoin and cryptocurrency market. China has always controlled all the markets. |
|
|
|
|
tegarp90
|
|
October 17, 2018, 01:44:22 PM |
|
very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.
in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.
Is there a solution to stop that potency ?
Not a secret that china wants to rule the world. And also china has a big volume in cryptocurreny. All we can do is just following their wave |
|
|
|
|
|
Reid
|
|
October 17, 2018, 01:46:35 PM |
|
Are you sure that they are all Chinese?
They might make a lot of damage when they do it but it will also affect them.
That is why they cannot just stop it so sudden.
Okay, let us say they may already made some money but is it already enough for ROI?
As I have heard it may take years to get back all that capital from mining industries.
Their last intention will be to pump bitcoin at a large price to get it back. That is if they are really holding it.
|
|
|
|
|
|
serizawa
|
|
October 17, 2018, 01:55:30 PM |
|
The Chinese government is banned cryptocurrencies and is also banned from mining!
BTC mining is moving to other Asian countries, and Japan is a new mining center!
Japan now has more influence on BTC than China!
agree with you many Chinese government doesn't like crypto even they membeded some exchanger in china. I think Japan is the ruler of bitcoin now because in Japan bitcoin is legal |
|
|
|
|
Desscount
Full Member
Offline
Activity: 1386
Merit: 101
ComboLabs
|
|
October 17, 2018, 02:00:04 PM |
|
very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.
in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.
Is there a solution to stop that potency ?
I think you should include the official link as our learning material, otherwise this is just a stale rumor. and China does not have the strength to destroy bitcoin and this has been proven in 2017 |
|
|
|
joebrook
Sr. Member
Offline
Activity: 644
Merit: 259
CryptoTalk.Org - Get Paid for every Post!
|
|
October 17, 2018, 02:10:37 PM |
|
The Chinese government is banned cryptocurrencies and is also banned from mining!
BTC mining is moving to other Asian countries, and Japan is a new mining center!
Japan now has more influence on BTC than China!
The Chinese influence when it comes to Bitcoins is all but gone, whatever they had is now gone thanks to the Chinese government decision of ban the use and trading of Cryptocurrency completely in the country. |
|
|
|
|
Btcvilla
|
|
October 17, 2018, 02:12:01 PM |
|
very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.
in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.
Is there a solution to stop that potency ?
this is funny, again China makes rumors, but I don't believe before there is strong evidence. China will not be able to destroy bitcoin because this has been proven last year when China actually banned and made sanctions for its citizens involved in crypto. |
|
|
|
|
|
trimulia
|
|
October 17, 2018, 02:20:49 PM |
|
I don't understand how its work china can destroy bitcoin through mining, but Im sure that just a fake rumor to spread the FUD in cryptocurrency follower. but if yes it hard to stop
|
|
|
|
KorakPawon
Member
Offline
Activity: 350
Merit: 11
|
|
October 17, 2018, 02:34:57 PM |
|
I think it may be hard, but its not impossible. China is a giant with its economic system that affects the whole world in general. even, china has created trade war with US that disturb the stabilization of many countries. Bitcoin is decentralized, so there's no limit for people to have and collect bitcoin while people who invest on bitcoin mostly are from china, they really improved on it. So, I think there must be another 'giant' to stabilize the domination of china to keep bitcoin breath and built, not destroy.
|
|
|
|
|
Isiaka208
Copper Member
Jr. Member
Offline
Activity: 411
Merit: 1
|
|
October 17, 2018, 03:33:32 PM |
|
I think other countries will wake up as a result of this piece of information. It is therefore impossible for China to destroy Bitcoin and other Altcoins.
|
===================================================== BILLCRYPT - CREATING HISTORY===================================================== |
|
|
Thor....
Newbie
Offline
Activity: 84
Merit: 0
|
|
October 17, 2018, 03:54:47 PM |
|
No change, who the hell told u that china can destroy the bitcoin, if China doesn't accept it doesn't matters there are other countries
|
|
|
|
|
burky155
Member
Offline
Activity: 532
Merit: 12
|
|
October 17, 2018, 03:58:50 PM |
|
I wouldn't say destroy but the China could effect the market in very bad ways. As far i heard the China have %35 of the bitcoin and %40 of International World trade. So it makes them number 1 in the World. First i would like to ask myself why would they destroy bitcoin while they have it most? And i answer, no, they wouldn't make any crush in the market. Also i am sure that no one can stop this blockchain and cryptocurrency world anymore.
|
|
|
|
|
tarable
|
|
October 17, 2018, 04:51:29 PM |
|
I think it's difficult because most miners at the moment are controlled by China but seeing the fact that many mining projects are large-scale and use unused factories and use environmentally friendly energy it is not impossible that the prospect of the protocol will switch
I think that China can't destroy bitcoin. because the development of bitcoin is always improved so if you want to destroy it it's enough trouble. |
|
|
|
|
|
