China owns +90% of ALL CRYPTO - Alt's Included ( 51% is Myth )

[btc-room101]

https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b

Probably one of the greatest 'myths' of BTC is that 51% 'honesty factor' keeps it secret, keeps it safe per 'LOR' ( lord of the rings )

However a little giant in China called BITMAIN controls +90% of all BTC mining on earth and 10:1 for every remote that is purchased they have ten inhouse generating their own bitcoins. Thus BITMAIN can and will do whatever they want, whenever they want.


What is even more interesting is BITMAIN seems to have targetted ALL high-cap cryptos besides BTC all the way down to the $100 Mil space, where BTC is currently at $68 Billioin USD, diversification at its best.

Most of what I read day to day seems to be lies, like BTC is safe, or secure, ... or that Satoshi's math of 51% is still intact, ... like everything most of the urban myths rolling around BTC are just that myths. The fact is billions of USD have been lost ( exchanges ), and millions of USD have been stolen by weak priv-keys, and trojan-horse wallets ( inside software ).

Why the myths? Well certainly this is all about the "MATRIX", you can take the blue-pill and believe what you read on this board, or you can take the red-pill and deal with what is,

Well the story starts with "Jack Ma", the richest man in China, who also owns Alibaba, but also owns almost all of the crypto-mining hw stuff in CHINA, most fascinating is that "MA" was just knighted by the PRC to become a "PARTY MEMBER", this means that Communist-Party-China intends to adopt CRYPTO as their new currency, tie in that with 'social credit scores' ( think facebook ), and you have total-information-awareness that would make Poindexter/Raygun back in late 1980's envious.

What's more interesting is that Alibaba is tied with Amazon, now Amazon NOT ONLY HOSTS this SITE bitcointalk.org, but AMAZON also hosts the entire DOD defense, CIA/NSA INTEL house, now Alibaba is doing the same. Now CHINA clearly owns the future, unless something is done, but its clear that NWO intends to BRING USA-CHINA together to be one happy bank, where the 'minions' are controlled by how well they behave on their facebook accounts.

Why pray-tell would 'MA' even bother selling CRAP, since he owns the crypto-currency press? Well he has to buy shit to keep his chain stocked, so he pay's his vendors and their slaves in Crypto, thus FREE INVENTORY, you got to admit the CP must be think they found the 'Golden Goose'.

Now where does this leave the USA, If you want a ASIC chip made to find any kind of CRYPTO, you got to go to CHINA, no where on else has the talent, ability, labs, or anything to do this job. So CHINA now OWNS crypto mining, which means they own ALL coin, not just BITCOIN, which means that CHINA is the new "FEDERAL-RESERVE" NEW WORLD ORDER.

The blue-pill ignores what is going on the red-pill sort of in your face tells you what's going on, but does this mean all the theater between CHINA&USA is fake?

Lot's of USA people have a clue that "FED-RESERVE" controls USA, but its going down, as USA reserve-currency status is kaput, as SAUDI is smart enough to not want to keep trading toilet paper for its oil. So CHINA OWNS crypto, but VENEZUELA also is in the crypto-oil game,

Uncle Sam seems to be just sitting on his thumb, feeding the blue-pill to the sheep, but something else is going on here, the people who own "FED-RES" is BIS, they largely also own China, most likely its just a shift, reset, & shuffle.

[bitfocus]

I don't think that even relates, and the title is confusing, when somebody says China Owns that means owned by Chinese Government, not the people. Maybe a huge share of crypto are in hand of Chinese people, the common miners and big whales, but the assumption is baseless and biased.

[bitcoinsc]

some parts of China is already running digital money.wechat n all pay
 they got more competition from cryptocurrency now. usa barely have that. maybe nfc visa.

[btc-room101]

I don't think that even relates, and the title is confusing, when somebody says China Owns that means owned by Chinese Government, not the people. Maybe a huge share of crypto are in hand of Chinese people, the common miners and big whales, but the assumption is baseless and biased.

UH, URG, UUUG

https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b

READ, did you did you actually read the attached link? did you read who owns the miners, the asics? Did you? or did you just make your comment based on your emotional eq?

CP COMMUNIST-PARTY 100 richest men, who OWN the PARTY, just this week made JACK-MA a party member, in the MAFIA we call this a "MADE MAN"

Jack Ma owns everything that says CRYPTO in CHINA, jack-ma is NOW head of TECH for CP,

CP is now CRYPTO

Jack Ma wants his social score to control everybody, you don't get money, on a bus, or travel unless your social-score ( facebook ) is over 500,

Jack Ma has placed 500 million cameras in CHINA, you don't go to the toilet without facial ID, JACK-MA has repurposed all of BITMAIN to manufacture AI-ID systems, this is bigger than ANTMINER

JACK MA owns all the crypto, it doesn't matter which one ones, he owns it all,

JACK MA is communist-party, the CP runs china since 1948

Jack Ma is Alibaba, which is AMAZON in USA as Jack Ma & Bezos are siamese twins sharing the common rectum,

All this is coming to the USA, Zuckerberg is also bringing social score to USA, which means if your not nice, you can't spend your bitcoin

[pooya87]

being an ASIC manufacturer doesn't mean you own what mattes most: hash rate.
they can choose to also spend more money on electricity and labor and taxes and a ton of other things to run a mining farm and also have hash rate but that is their choice and the "control" is nowhere near 90%.
the mistake people make is that first of all they emotionally look at bitcoin and then they add some FUD to the mix and make a conclusion. also the bigger mistake is not understanding the difference between a mining farm (which has actual ASICs hence actual hashrate) and a mining pool (which actual miners from around the world connect to). not to mention that the mining pool servers aren't even all in one country.

[Paycheck]

I'm not going to get into who owns or controls what, I have only one concern.  MONEY FOR ME.

When will the prices of which coins drop, and by how much?  When will those prices rise, and by how much?  All I care about is my own personal profit.  So if anyone has any tips on when I should buy or sell what coins, PM me.  Thanks. 

[BuyBuyBitcoin]

Probably one of the greatest 'myths' of BTC is that 51% 'honesty factor' keeps it secret, keeps it safe per 'LOR' ( lord of the rings )

No the greatest myth in BTC is that what individuals think the protocol should do or what people should want the protocol to do, actually matters.

It doesn't.

Whatever FUD you want to spread, doesn't stop bitcoin from doing what it's designed to do.

[Rashid555]

It is true that China own 90% of all crypto and bitcoin is mostly mine there due to electricity cost and for developed countries it is a good way to make transaction in different countries while it is a digital wealth which has a great value in the future.

[btc-room101]

It is true that China own 90% of all crypto and bitcoin is mostly mine there due to electricity cost and for developed countries it is a good way to make transaction in different countries while it is a digital wealth which has a great value in the future.

Read the article,

CHINA owns all the coins, including BTC, because they own the miners, and for every miner they sell the west, they keep ten at the factory to run to get 90% of the coin, today they're going after the top-50 coin's by market-cap, tomorrow, they'll probably go after the top-100

Nothing is because of the cost of electricity, that is an old story, free electricity to miners in china is no longer available, the gov has put an end,

Like the article attached say's all ASIC's are made in china, and they're going after all the coin's, and they're running 10 to 1, for what they sell, and they don't deliver product to the west until the difficulty has sky-rocketed,

All is a rig-game, and in the end when its game-over china will own most of the crypto for all space.

[valentin68]

Chinese people are the SMARTER people that exist in the world. Chinese people are the most HARD WORKING people that exist in this world. Chinese people are the the ones that KNOW how to make commerce. (Have you ever heard of the silk road?)
Thus it is in their interest to control 90% of the bitcoin. They will never do something bad against bitcoin.
Chinese people make the products and they make (and give you) the money to buy their products. Isn't this the SMARTER thing in this world?

 

[coinwizard_]

It's a free market and anyone is welcome to set up a new asic company that creates better and more efficient mining rigs. It is unlikely that bitmain dominance will be reduced but if you don't try it can never happen

[CryptoRama]

You know, to be in the system is like to be a sheep, well, I also am a sheep in some ways, since I'am still in the system, but I try not to be, but since I need food water, and protection I'm a little forced. I mostly hate the system we're living in, because of all the scammers and peoples hate and jealousy, mostly I'm very bummed about when rich could not get off their asses and give some money to poor people who literally have nothing.

I don't think that even relates, and the title is confusing, when somebody says China Owns that means owned by Chinese Government, not the people. Maybe a huge share of crypto are in hand of Chinese people, the common miners and big whales, but the assumption is baseless and biased.

UH, URG, UUUG

https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b

READ, did you did you actually read the attached link? did you read who owns the miners, the asics? Did you? or did you just make your comment based on your emotional eq?

CP COMMUNIST-PARTY 100 richest men, who OWN the PARTY, just this week made JACK-MA a party member, in the MAFIA we call this a "MADE MAN"

Jack Ma owns everything that says CRYPTO in CHINA, jack-ma is NOW head of TECH for CP,

CP is now CRYPTO

Jack Ma wants his social score to control everybody, you don't get money, on a bus, or travel unless your social-score ( facebook ) is over 500,

Jack Ma has placed 500 million cameras in CHINA, you don't go to the toilet without facial ID, JACK-MA has repurposed all of BITMAIN to manufacture AI-ID systems, this is bigger than ANTMINER

JACK MA owns all the crypto, it doesn't matter which one ones, he owns it all,

JACK MA is communist-party, the CP runs china since 1948

Jack Ma is Alibaba, which is AMAZON in USA as Jack Ma & Bezos are siamese twins sharing the common rectum,

All this is coming to the USA, Zuckerberg is also bringing social score to USA, which means if your not nice, you can't spend your bitcoin

Wow man, thanks, here I can see you have some real knowledge!! Thanks for the update, the topic maker was a little weak, I mean, I have a friend in tech, and he said 51% attack could happen eazy, is that even possible?  And also, how do you know, that in mafia you call that a made man? Are you in that mafia?

[btc-room101]

Google it, the USA 'deep state' is a MAFIA, the Chinese Communist Party is a MAFIA

GOOGLE "Made Men", or watch good-fellas the movie, seriously are you a bot?

In the 'mafia' once your 'made' then nobody can touch you, nobody can kill you, your 'made' which means your like super-man, thus Jack-Ma is now a 'made man' in China, he's untouchable.

[Broly46]

“China mining pools contribute 90% of the hash” blah, we all should know mining pools didn’t make all the miners come from the specific country, it is just a convenient way for miners to get better reward by sticking with largest pools. What happen to all the major clouds mining during the crypto bull run? I can’t believe they can contribute as little as 10% of the total  hash rate.

[dothebeats]

Like the article attached say's all ASIC's are made in china, and they're going after all the coin's, and they're running 10 to 1, for what they sell, and they don't deliver product to the west until the difficulty has sky-rocketed,

All is a rig-game, and in the end when its game-over china will own most of the crypto for all space.

I believe that this is somewhat partly true, considering that the anticipated batches of newer ASICs back in 2016-2017 from BITMAIN has caused a considerable amount of hashing power to be vested on the whole bitcoin network, and it is said that BITMAIN is doing this in order to 'stress-test' the machines before it even reach the consumers, though I think that this is a cheeky way to get more from the machines by mining it first before shipping it later. As for the "90%" of all crypto, I guess you are underestimating other players involved in this whole scheme. There's Japan, Europe and the US that are the most active traders right now apart from China. and having a whole lot of hashing power doesn't mean that they have ultimate control of the entire crypto-space but it is somewhat a significant control nonetheless.

[talkbitcoin]

this misunderstanding about Chinese and their control over bitcoin has been around for a very long time and when you write a long essay about it, that still doesn't make it true. it is still the same flawed discussion that has been discussed a million times here.

[btc-room101]

this misunderstanding about Chinese and their control over bitcoin has been around for a very long time and when you write a long essay about it, that still doesn't make it true. it is still the same flawed discussion that has been discussed a million times here.

What in the hell are you talking about?

Ten years ago BITCOIN-ASIC chips didn't exist, BTC was mined on PC's, on the motherboard, on the CPU

Today 99% of all BTC mining is done on ASIC, and CHINA owns 100% of the foundary's that make the ASIC chip's for CRYPTO, all crypto including Bitcoin.

That is the point of the article.

CHINA owns BITCOIN, by virtue of the fact, they own the miners that mine them, and they mine first 10:1 ratio over the west, or any other customer,

BITMAIN is king of all Crypto on earth.

51% my ass, one of the biggest lie's in the bitcoin community is how everybody ignores the 500LB gorilla that controls +90% of all mining ( server transaction )

Please pray-tell you read the article ... https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b
Before you commented?

[baradfo]

this misunderstanding about Chinese and their control over bitcoin has been around for a very long time and when you write a long essay about it, that still doesn't make it true. it is still the same flawed discussion that has been discussed a million times here.

What in the hell are you talking about?

Ten years ago BITCOIN-ASIC chips didn't exist, BTC was mined on PC's, on the motherboard, on the CPU

Today 99% of all BTC mining is done on ASIC, and CHINA owns 100% of the foundary's that make the ASIC chip's for CRYPTO, all crypto including Bitcoin.

That is the point of the article.

CHINA owns BITCOIN, by virtue of the fact, they own the miners that mine them, and they mine first 10:1 ratio over the west, or any other customer,

BITMAIN is king of all Crypto on earth.

51% my ass, one of the biggest lie's in the bitcoin community is how everybody ignores the 500LB gorilla that controls +90% of all mining ( server transaction )

Please pray-tell you read the article ... https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b
Before you commented?

And all that has to happen with a project is re-writing the code to make it ASIC resistant (for that coding anyway). ASICs were used because they are specialized chips used for 1 thing....and they figured it would be perfect for mining. Yes in China it's easier and cheaper to manufacture ASICs, doesn't mean that they have all the mining (or control the world, as is your premise). China does have a goal to become the dominant country in the world, not a secret. If you don't like companies/people in China controlling the majority hash power, do something about it other than spouting a bunch of nonsense. Create/help create more mining pools outside of China. Find ways to manufacture ASIC chips, to be profitable as well, if you so deem. Talk to project devs to see if you can get the coding changed to become ASIC resistant for that project (or become a project dev and do it yourself). Just sayin mate

[doublespend timestamp]

https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b

Probably one of the greatest 'myths' of BTC is that 51% 'honesty factor' keeps it secret, keeps it safe per 'LOR' ( lord of the rings )

However a little giant in China called BITMAIN controls +90% of all BTC mining on earth and 10:1 for every remote that is purchased they have ten inhouse generating their own bitcoins. Thus BITMAIN can and will do whatever they want, whenever they want.


What is even more interesting is BITMAIN seems to have targetted ALL high-cap cryptos besides BTC all the way down to the $100 Mil space, where BTC is currently at $68 Billioin USD, diversification at its best.

Most of what I read day to day seems to be lies, like BTC is safe, or secure, ... or that Satoshi's math of 51% is still intact, ... like everything most of the urban myths rolling around BTC are just that myths. The fact is billions of USD have been lost ( exchanges ), and millions of USD have been stolen by weak priv-keys, and trojan-horse wallets ( inside software ).

Why the myths? Well certainly this is all about the "MATRIX", you can take the blue-pill and believe what you read on this board, or you can take the red-pill and deal with what is,

Well the story starts with "Jack Ma", the richest man in China, who also owns Alibaba, but also owns almost all of the crypto-mining hw stuff in CHINA, most fascinating is that "MA" was just knighted by the PRC to become a "PARTY MEMBER", this means that Communist-Party-China intends to adopt CRYPTO as their new currency, tie in that with 'social credit scores' ( think facebook ), and you have total-information-awareness that would make Poindexter/Raygun back in late 1980's envious.

What's more interesting is that Alibaba is tied with Amazon, now Amazon NOT ONLY HOSTS this SITE bitcointalk.org, but AMAZON also hosts the entire DOD defense, CIA/NSA INTEL house, now Alibaba is doing the same. Now CHINA clearly owns the future, unless something is done, but its clear that NWO intends to BRING USA-CHINA together to be one happy bank, where the 'minions' are controlled by how well they behave on their facebook accounts.

Why pray-tell would 'MA' even bother selling CRAP, since he owns the crypto-currency press? Well he has to buy shit to keep his chain stocked, so he pay's his vendors and their slaves in Crypto, thus FREE INVENTORY, you got to admit the CP must be think they found the 'Golden Goose'.

Now where does this leave the USA, If you want a ASIC chip made to find any kind of CRYPTO, you got to go to CHINA, no where on else has the talent, ability, labs, or anything to do this job. So CHINA now OWNS crypto mining, which means they own ALL coin, not just BITCOIN, which means that CHINA is the new "FEDERAL-RESERVE" NEW WORLD ORDER.

The blue-pill ignores what is going on the red-pill sort of in your face tells you what's going on, but does this mean all the theater between CHINA&USA is fake?

Lot's of USA people have a clue that "FED-RESERVE" controls USA, but its going down, as USA reserve-currency status is kaput, as SAUDI is smart enough to not want to keep trading toilet paper for its oil. So CHINA OWNS crypto, but VENEZUELA also is in the crypto-oil game,

Uncle Sam seems to be just sitting on his thumb, feeding the blue-pill to the sheep, but something else is going on here, the people who own "FED-RES" is BIS, they largely also own China, most likely its just a shift, reset, & shuffle.

Fortunately, we have several millions of production-oriented Pol Potter, NEA-abused Antifa and sundry irrational hangers-on (including too-wealthy and overly well off Silicon Valley control freaks) who will pull us through this terrible tech lag.  We all ride on the backs of a few super-geniuses.

I do wonder how long the numerically-burgeoning Millennial Gen will put up with this junk corrupt Federal Reserve criminal system with all the trimmings stopping them from obtaining comfortable livings, nice homes, new cars, wives, children and common civil peace of mind.

[kryptqnick]

However a little giant in China called BITMAIN controls +90% of all BTC mining on earth and 10:1 for every remote that is purchased they have ten inhouse generating their own bitcoins. Thus BITMAIN can and will do whatever they want, whenever they want.

That is not accurate. First of all, we certainly know that Bitmain has more than a half of mining power, but 90% just seems too much. Secondly, miners don't really have much impact on the prices. All they can do is affect the difficulty rate and theoretically mess up with confirming transactions (in theory, we can imagine the majority of miners confirming a fake transaction or something. I am not sure it's possible, but I assume it might be). The prices are set by traders and miners don't really have that much of bitcoins to affect the price by trading the coins.