99% here don't get CHINA, how about an honest discussion about CHina?

[btc-room101]

To start with chINa& BITCOIN

First of all BITCOIN is NSA, sha256&secp256k1 are NSA, CHina  is trying to break itself away from the USA centric handcuffs.

THen there is jack ma, of taobao, aka alibaba aka ant, aka bitmain, aka antminer; see jack ma is the owner of 90% of all crypto in CHINA, china controls 90% of all crypto on earth.

Jack ma is already under house arrest, so the CCP has already taken over all crypto on the earth.

...

Then there is the cash infusion, chinese people are compulsive gamblers, everybody wants to play. The ONLY way these days to get rich in China is CRYPTO, which is why everybody is playing.

Of course GOV something needs to protect morons from destroying their familys, self abuse is ok, but not to destroy the family or communtiy; thus gov has to do something

PPL on this forum are rather silent about the fact that china owns bitcoin, they'll talk shit all day about 51% consensus, but turn their head if you mention that CHINA does 90% of the mining, which of course means that CHINA owns bitcoin, but its not just that, they run all the pools, and they finance all the projects on the earth. Take bitcoin-gold in Ukraine, financed by chinese billionaires, ... same for most of the silicon valley crypto, just a chinese money laundering op

What go me going on this is the "CHINA BANS BITCOIN", well they essentially have, by taking out jack-ma china now owns 90% of the worlds btc infrastructure, what they do with it will take years to figure, they move slow, they're in no hurry

Probably besides economic depression their greatest fear is the west undermining their economy with crypto, remember crypto came out of the IMF, BIS, & NSA/CIA;

Russia&CHINA are terrified of crypto, they see it as a trojan horse, how is it that something from the west, can be now owned by CHINA? Largely because the walmart economy post 1980's where all wealth moved to china, and all wealth is hidden in gold before  and now crypto, certainly the west could pull the plug anytime it wishes and bankrupt asia with crypto manipulation.

Most  work in CHINA involves developing their own crypto that isn't tainted by the NSA, CIA,MI6/5,GCHQ, ....all this takes time;

Then there is the golden-goose, china's not stupid about money, they see that bitcoin's capilization exceeds almost all western companys, there is a lot of money to be made, so why kill the golden goose.

The biggest play here is they by the fact of OWNING jack-ma, have already OWNED the entire world crypto infrastructure, all the ASIC miners on earth btc,eth,zcoin,...all are under chinese control, all call home for pools, all report, and all miners can be re-configured as they wish

CHINA is already 100% digital, nobody uses cash anymore its gone, hell I remember 15 years ago in city's all ICE vehicles were gone all had gone to electric, 10 years ago; Most of china is today like tomorrowland of disneyland, while most of usa these days is an open sewer of homeless.

IMHO China will simply 'take ownership' of the crypto, just like they're doing. It will drive the west nutz, it will be west that has to 'ban crypto' so that chinese doesn't control western wealth.

This site is about BITCOIN, I dont' think bitcoin has much of a shelf life left, there are lots of new coins, and CHINA is looking at everything, the good thing is they have their fingers on everything, so they can't lose.

In the meantime everyone in asia  is still getting rich in crypto, unlike the west, where the IRS in the USA has largely setup road-blocks at every entrance & exit, in ASIA crypto is still largely wild-wild west.

[btc-room101]

It's not just bitcoin, its the future of crypto in China. BTC POW waste of electricity is out, the CCP have embraced Proof of Capacity, aka hark-disk-mining.

***

There are lots of chia-explorers out there that integrate all the found new blocks on earth ever 5-15 minutes, they also report the number of plots submitted; So to answer your question the data comes from the chia-explorers, where they average all the plots submitted.

https://miningpoolstats.stream/chia

The majority of all plots are on HPOOL in China, +60% last time I looked then another 30% come from china as anonymous, but I think they're also hpool, then the remaining 10% come from the west.

Chia-NET (dev) doesn't have a clue how many plots are being' 'farmed' because NOBODY in china uses the Chia-SW for anything, HPOOL provides their own miner, and their own plotter, nobody gives a hell about the chia blockchain, probably one of the big reason it doesn't work is that the entire network is about 'mining' XCH, and not about transactions, or blockchain,

https://chiacalculator.com/

The entire idea of mining has been thrown out the window, its not about transactions, its all about the plot lottery.

All this BS about plots, farms, harvesters,  & farmers. Was a great 'woke' green narrative, the truth however is that its the same as it always is/was the rich are getting richer, and the poor are getting screwed.

Chia-Net can only estimate how many of its sucker (users) have submitted plots through its harvesting nodes and integrated value, given that is 10% of all plots submitted, that's why the real data is picked up from the explorers, there are also global pool websites that monitor all XCH found, and the submitted plots; all this data is integrated. IMHO CHIA-NET get their EB data from the chia-calc guy, who sells plots, this scam is one big happy family of scammers.

So why does Bram&Cohen tell its sheep, aka flock of cultists "Do use Hpool, you'll shoot your eye out", well its because they hate to see anybody but themselves making money.

Then there is the control thing, chia-net wants control, but that was lost 6+ months ago. Funny the God's complain about China owning the 'mining' (Farming) but they never complain about the IOU's where Chinese gamblers shot the CHIA XCH prices  from zero to $1600.

Cannot have it both ways "Gods of Chia".

As of this point chia is evolving into the software from hell;

Space is now slowing down from 8% a day to 3% a day, but the price is also dropping 3% a day, once the price of Chia nears zero the space will drop dramatically as when there is no longer profit in gambling chia with plots in china then 90% of the worlds plots are pulled out, but also 99% of chia's investment capital from China is also pulled out.

What is left is Bram&Cohen get their wish they get to control a dead product. Moving forward the Chinese will not come back, and the $$$ will not come from 'woke' Greeny's in the West.

Chia has still not 'purposed itself', so right now we have 8.8EB of wasted disk space filled up with random numbers for what? 51k new plots added per day at 108GB, for what?

The guy in CHINA who ends up owning this thing by mining majority can deploy that EB anyway he wishes, he can rent the space out to anybody who wants to buy storage online just like Amazon and Google do, or file-chain.

Of course this has been Cohen's plan all along, remember he's the porn king of the earth 60% of the internet is BITTORRENT, and 90% of bittorrent is PORN. Don't think for a moment that Cohen losing control of the mining process doesn't destroy all his long term plans for renting out +10EB to the worlds CP content industry.

Moving forward who knows what's going to happen, but its not going to be chia-net, or anybody associated with these people running, and ruling CHIA Classic. It will certainly be China, an some billionaire will adopt it; The Chinese GOV actually likes file-coin, and I suspect they like Chia as well, this is why they will NOT let Cohen turn CHIA into a PORN server, as CCP hates porn, and prostituion, and CP, and child abuse, and denigration of women, this goes back to the founding of CCP, in the 1920's Shanghai was one big whore-house ran by the USA; They have never forgotten.

[franky1]

what the OP does not realise is this

even if a pool sounds like it is chinese
it actually has stratum pools all over the world

with users from many countries linked to multi national stratums

so the actual 'yeild' of hashpower that is housed within chinese territory and linked to a pool which server is geolated in china. is much smaller than the OP thinks

the OP is about 6-7 years behind on the 'chinese' propaganda

[btc-room101]

A long history of money laundering operations by chinese billonaries funding 'western' cryptos, one of my favorites in recent years was Bitcoin-Gold, like Todays Chia

Financed by the bitcoin-cash guy, had Ukrainian's do the work, as a ukrainian crypto, but really 100% owned & controlled by China

The CHIA of today much the same, said to be a USA coin with US Dev, but already the Chinese are mining 90%, and 90% of the mining is ran by the HPOOL sw, and nobody using the chia blockchain daemon, because the chinese got the mining-pool protocols, but the west didn't, you really can't make this stuff up.

What's even more amazing is that 10's of 1,000's people in the west are solo-mining chia, and earning zero, as all the XCH goes to the chinese mining pool that controls +90% of the hash ( they call it plotting )

Given the inability of the Western gambler to see chinese ownership of Bitcoin, its not like anybody really cares that the alt's too are chinese owned.

Like the man said, never underestimate the power of a man to be dumb when his salary or income depends on him being an idiot.

In the meantime everybody in ASIA is getting 'rich' in cryptos, and a little trickles back to the West.

Which begs the question, so the NSA-CIA let China become ruler of Bitcoin, and now the PoC (capacitiy hdd coin), certainly this is not an accident, the investment is done in ASIA and development the miners, the hw, the pools, not a nickel is invested the USA; When it does get invested in silicon-valley, its almost always CIA money, or Chinese money.

Lastly, Rockefeller brought Mao to power in the 1950's, the same Rockefeller who setup modern OSS to CIA, same Rockefeller who setup BIS&IMF, so perhaps this great reset, is all being organized as a gradual flip of wealth over night from West to East??

[pooya87]

what the OP does not realise is this

I hope you realize is that what OP does has nothing to do with realizing anything. He is just a newbie thinking if he creates dozens of topics every week with big walls of text filled with nonsense using "scary keywords" he can contribute to the ongoing panic sell and hope for a downtrend

[franky1]

i know that. but my response to idiot OP are not for that OP benefit of learning things.
its not to teach him anything

its for the other readers who dont know his tactics to atleast know what the op is saying is nonsense
its cuts through all the idiot waffle for others to know that the OP is an idiot

i do this to many idiots
i say it alot 'what the op does not realise'
its never about teaching the OP i reply to. as the OP's i reply to in this style are too stupid to ever learn

its simply to summerise the OP as an idiot for the benefit of other readers. so the other readers can learn quick how stupid he OP is

i dont debunk idiots for the idiots benefit of learning. i mostly do it so the other readers can see how he idiot is wrong

there are a few idiots on this forum that no matter how many times you debunk them. they never learn, but i continue to debunk them so they dont recruit more idiots into their way of thinking

[TangentC]

Hmm, the only thing I knew about Chia

https://www.techspot.com/news/89626-chia-farming-can-reportedly-destroy-512gb-ssd-40.html

To recap, Chia uses a 'proof of space and time' model instead of 'proof of work' (Bitcoin) or 'proof of stake' (Etherium 2.0), which essentially means farmers—it prefers the term to mining/miners—can earn the currency by allocating their unused disk space.

According to Chinese site Fast Technology (via Hardware Times),
constantly farming Chia on a 512GB SSD,
which usually lasts anywhere from five to ten years, can reduce its life to just 40 days—the result of writing 256TB of data during that time.

Drives with more storage space last longer, but the wear and tear still significantly reduces their lifespans:
a 1TB SSD lasts around 80 days, while Chia farming will kill a 2TB SSD in 160 days.
While the make and model of these drives aren't specified, the report illustrates how quickly they can be worn out.

Looks like if Chia caught on, we have landfills full of ssds.

Hopefully it won't, as bitcoin PoW is damaging enough to the environment without help.

[fiulpro]

China have already banned Bitcoins and mining in the previous years. Yes they do control the major hash power but I do think you have to understand that even if in a crisis where worse happens in context to bitcoins people will always be able to adapt to it. There will be big mining firms taking over the function, yes it would take a while but it will happen.
The government did try and take over the mining farms and it did fail terribly. Many people emigrated out of their own country ! Which was indeed a big loss for them. What I do think is that, China or any county can do anything they wish for but at the end of the day Bitcoins can recover after a time period. Plus it would be even stronger now that the Manipulation of china is gone. Why care much about it ??
This is a healthy step for us. Price is not always everything!

[ranochigo]

Your second post is actually off-topic, would be more suited for altcoin discussion.

Regardless, your assertions are quite absurd. Jack Ma doesn't own 90% of Bitcoin in China. Majority of his net worth comes from his holdings within the companies, and the remainder that he has is definitely not enough to control such a significant amount. China doesn't run Bitcoin, US in particular is very careful about foreign interference, especially from Chinese. It's kind of dumb to say China is trying to distant themselves from those cryptography, Chinese sites still uses AES as a cipher suite for their TLS. Can you please back your statements up with some stats?

[odolvlobo]

https://www.youtube.com/watch?v=RDrfE9I8_hs

[electronicash]

What do you want to know about China? Soon, they will not be interested in bitcoin at all, after the launch of the digital yuan.

they will still accumulate BTC for anything that is disruptive to USD is considered to be good for their progress. can't blame them for being that way since everything about them is being politicized. they have to use Jack Ma's achievement. he owns Antgroup which part of it is the payment system like Alipay.

Alipay itself is something useful for the CBDC. when he tried to make the company public for IPO, the government stopped him because they want the wealth to remain for the country not scattered and owned by people from other countries.

[Haunebu]

Op is clearly trying to promote Chinese propaganda in a nonsensical manner by trying to diminish the influence of Western countries. He is delusional and his claims about China taking over the crypto world are hilarious.

Observed that these kind of threads tend to pop-up whenever there is a dramatic shift in BTC value(Upwards or Downwards). The one good thing about these threads is that they crack me up.

[btc-room101]

Your second post is actually off-topic, would be more suited for altcoin discussion.

Regardless, your assertions are quite absurd. Jack Ma doesn't own 90% of Bitcoin in China. Majority of his net worth comes from his holdings within the companies, and the remainder that he has is definitely not enough to control such a significant amount. China doesn't run Bitcoin, US in particular is very careful about foreign interference, especially from Chinese. It's kind of dumb to say China is trying to distant themselves from those cryptography, Chinese sites still uses AES as a cipher suite for their TLS. Can you please back your statements up with some stats?

Ever herd of ant, ant-miner, bitmain, ever ?? Ever heard of ant-pool?

Ant controls about 80% of the Chinese economy, the crypto is 2-3% of the entire ant-pay eco-system.

Even all the GPU spy-cams AI, track everybody on earth, are made by Ma, and yes they control most of the miners, pools, and hw manufacturing in china.

Almost everybody on earth uses the same chinese made bitmain systems to mine btc, they all call home to ant for updates. The pools are all ant companys.

They don't use paper money anymore in CHINA, everybody uses 'ant' on their mobile phone, ant-pay, ali-pay, aka alibaba, taobao 90% jack ma companys.

China have already banned Bitcoins and mining in the previous years. Yes they do control the major hash power but I do think you have to understand that even if in a crisis where worse happens in context to bitcoins people will always be able to adapt to it. There will be big mining firms taking over the function, yes it would take a while but it will happen.
The government did try and take over the mining farms and it did fail terribly. Many people emigrated out of their own country ! Which was indeed a big loss for them. What I do think is that, China or any county can do anything they wish for but at the end of the day Bitcoins can recover after a time period. Plus it would be even stronger now that the Manipulation of china is gone. Why care much about it ??
This is a healthy step for us. Price is not always everything!

IMHO china banned stealing electricity for mining, so they all moved to coal regions where they could mine close to the source, that resulted in pollution increases.

It's the wild-wild west in ASIA, everybody I know is trading crypto 24/7 on their mobile-phones.

Many say its the only way to get rich anymore. Used to be that you had to build a company, to get rich, then COVID shutdown that dream.

If you ain't rich, you can't have a wife in China, this puts enormous pressure on the little kings to perpetuate the family name. Anything to get rich, all bridges are burned, this is why 'banning btc' has no meaning, because everybody does it, you can ban something that everybody does. They just re-adjust, like buying laptops with rtx3060's to ETH mine, or buy HDD's to CHIA mine, nothing ever is 'banned' aka eliminated.

Even the HUGE BITMAIN factorys are still in over-drive, banned yet ok for re-sale abroad, but they always get lost on their way to export control.

[moderator's note: consecutive posts merged]

[ranochigo]

Ever herd of ant, ant-miner, bitmain, ever ?? Ever heard of ant-pool?

Ant controls about 80% of the Chinese economy, the crypto is 2-3% of the entire ant-pay eco-system.

Even all the GPU spy-cams AI, track everybody on earth, are made by Ma, and yes they control most of the miners, pools, and hw manufacturing in china.

Almost everybody on earth uses the same chinese made bitmain systems to mine btc, they all call home to ant for updates. The pools are all ant companys.

They don't use paper money anymore in CHINA, everybody uses 'ant' on their mobile phone, ant-pay, ali-pay, aka alibaba, taobao 90% jack ma companys.

Bitmain is a privately held company with zero affiliation to Jack Ma's Ant Group. There is no correlation between the two companies other than the fact that their names sounds similar...

Ant group's total assets is estimated to be about 42 billion, China's GDP is 14 trillion. Your math might be quite a few magnitudes off. Bitmain's market share is rapidly decreasing throughout the years as competitors are introducing better and more efficient ASICs.

[mindrust]

China is a communist dictatorship that wants to control everything and everyone not only in their shitty country but also in the world. What is there to talk more about China? The virus covid-19 also came from China. I am not telling that the whole country is evil though. Germany used to be like that too till their leader got killed and they gathered their shit together afterwards.

[(o)(o)ilikeboobs(o)(o)]

Where did you get the information about China holding 90% of the world's cryptocurrency or is it just speculation?
Asia is still open to Bitcoin and cryptocurrencies because they don't have any specific regulations on them yet. Europe and the US have specific regulations so people are responsible for declaring and paying taxes.
The lack of specific regulation is also a loophole for crime to occur in Asia. There are many lawsuits against fraudulent crypto projects that happen but cannot be resolved because there are no specific regulations.
The profits from crypto in Asia could be bigger because they don't have to pay taxes like Europe and the US.

[OcTradism]

China is a communist dictatorship that wants to control everything and everyone not only in their shitty country but also in the world. What is there to talk more about China? The virus covid-19 also came from China. I am not telling that the whole country is evil though. Germany used to be like that too till their leader got killed and they gathered their shit together afterwards.

Under the dictatorship, the government think they are God. Obviously, they can react like God in China, do whatever they want to control the Chinese. Recent years, they try to expand to global, international scale and it sucks. They lie, flip with their press conferences and their reputation become worse.

The pandemic, the deadly virus firstly originated from China, Wuhan but they pass the origin to many other nations. It sucks again.

I agree that there are good people anywhere but the Chinese government are not. My post is about them, not about Chinese generally.

Ban Bitcoin mining, ban crypto trading, hey it is fud from Chinese government.