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Author Topic: China owns +90% of ALL CRYPTO - Alt's Included ( 51% is Myth )  (Read 331 times)
btc-room101 (OP)
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December 01, 2018, 11:17:28 AM
 #21

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.

READ the article, it clearly say's for every miner that BITMAIN sells to the west, they run ten in CHina.
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