Mainstream Media now Admitting that +67% of BITCOIN Mined&Owned by China

[btc-room101]

https://www.marketwatch.com/story/why-bitcoin-holders-have-no-choice-but-to-trust-in-chinese-crypto-miners-11622167864

Hell I have been saying this 5+ years on this forum, and everybody here is in denial.

The so called 51% consensus was bullshit years ago.

Why not change from HODL to Coddle?

Trust-Less SatoshiNA bullshit is now 180 degree to 'trust-me',  I'm bitcoin (NSA)

Claude Erb, a former commodities portfolio manager at TCW Group, draws a parallel between religious conviction and the trust and faith of bitcoin’s devotees. After all, he pointed out in an interview, no one has actually seen the bitcoin blockchain, and yet we have faith that it is all-knowing and benevolent. “Is that all that different from a belief in a ‘crypto God,'” he asks? “There are many leaps of faith required.” Erb likens bitcoin’s huge popularity to an “explosion in trust in a financial God, who may just be the man behind the curtain.”

The Bitcoin-Gods are indeed crazy, if fact they are insane.

[pooya87]

Sometimes FUD comes back to bite you in the ass.

For the past week we have been hearing the same FUDs over and over again, two contradicting ones.
1. China controls bitcoin and has more than 51% hashrate
2. China banned bitcoin and shut down all mining operations.
Meanwhile when we look at the hashrate charts we see not signs of any hashrate being "removed". If the FUD were correct we should have seen hashrate drop to 60 EHS but it is the same as before hovering around 140 EHS ±20

[virasog]

We already know that the biggest mining farms for bitcoin are in china but that does not mean that china control the bitcoin. Also the news that china banned bitcoin is totally fun news which we hear in almost every bitcoin cycle and it always work to push the bitcoin price down. 

[btc-room101]

Sometimes FUD comes back to bite you in the ass.

For the past week we have been hearing the same FUDs over and over again, two contradicting ones.
1. China controls bitcoin and has more than 51% hashrate
2. China banned bitcoin and shut down all mining operations.
Meanwhile when we look at the hashrate charts we see not signs of any hashrate being "removed". If the FUD were correct we should have seen hashrate drop to 60 EHS but it is the same as before hovering around 140 EHS ±20

My gawd don't be a moron, to Go through life fat, dumb, & stupid is insane.

Check out the link, there is a graph, 90% of BTC is mined in CHINA, the mining decides on the transactions being approved. China didn't ban shit, that is a lie that morons like to push, tell that to the 10's of 1,000's of people in CHINA with bitmain miners running them in their apartments.

I'm here in China dildo brains. Everybody has crypto on their smart phones, an miners at their residence. People even mine on their laptops that have rtx-3060's; China manufactures 99% of all the mining hw on earth for all crypto, and most of it stay's here in China.

So whats the FUD? Is it the article by Hulbert, one of the most famous financial analysts in the  last 40+ years? Or is it you a compulsive liar?

[btc-room101]

We already know that the biggest mining farms for bitcoin are in china but that does not mean that china control the bitcoin. Also the news that china banned bitcoin is totally fun news which we hear in almost every bitcoin cycle and it always work to push the bitcoin price down. 

How can idiots post without even checking out the linked article? You can clearly see from the graph, that +90% of all BTC is mined in CHINA.

What you think is not a fact, a fact is what it is, having been researched by fact checkers.

The majority on this forum go though their entire lives circle-jerking each other with this common narrative, which is based on lies.

I thought it was funny to see the MSM now telling the truth, but its clear the osctriches here on this forum, will be the last to learn the truth.

[SquirrelJulietGarden]

Meanwhile when we look at the hashrate charts we see not signs of any hashrate being "removed". If the FUD were correct we should have seen hashrate drop to 60 EHS but it is the same as before hovering around 140 EHS ±20

LOL.

Excellent point. Even hashrate drops, it will take time to verfiy it is real from the new restriction in China or only faked shut down of rigs to support FUD and create more panic.

No drop of hashrate is important proof that the FUD is really FUD. How mining farms can move their rigs but hashrate does not fall down. Creating FUD but don't want to shut down ASICs temporarily. Nice attempt!  

[Bttzed03]

~
Check out the link, there is a graph, 90% of BTC is mined in CHINA,

I can only see one chart and it says 2/3 of the world's mining power is based in China. Did I miss something?

Assuming either of the figure is true, the thought that the Chinese government, being the control freak that they are, could force all miners based in their country to attack Bitcoin is scary. It's probably the only authority today that is capable because they know the identity of the biggest miners.

[Lorence.xD]

We already know that the biggest mining farms for bitcoin are in china but that does not mean that china control the bitcoin. Also the news that china banned bitcoin is totally fun news which we hear in almost every bitcoin cycle and it always work to push the bitcoin price down. 

From what I can understand it takes a lot of resources and money to even do the 51% attack because it is such a large scale to do. The biggest mining farms in China is now gone, with the ban, we are probably seeing this farms relocating in other countries.

[Tytanowy Janusz]

This may surprise you but China IS A COUNTRY. Not a single person. I can go even further with your logic. 51% is bullshit because 100% of bitcoin hashing power is controlled by single planet called EARTH. Earth can do 51% attack on BTC anytime. BTC is doomed. Sell you BTC and run away to $$ that increased its supply by 25% in last year.

How can idiots post without even checking out the linked article? You can clearly see from the graph, that +90% of all BTC is mined in CHINA.

60%

[Rikafip]

How can idiots post without even checking out the linked article? You can clearly see from the graph, that +90% of all BTC is mined in CHINA.

Seems like some of that foam from your mouth went into your eyes. Here is that very same graph again, showing that nowhere close to 90% of the mining has been done in China. Hell, even in the title's topic you mentioned 67% so only you know what kind of mental gymnastics you used to come with 90%+ number.

[franky1]

Sometimes FUD comes back to bite you in the ass.

For the past week we have been hearing the same FUDs over and over again, two contradicting ones.
1. China controls bitcoin and has more than 51% hashrate
2. China banned bitcoin and shut down all mining operations.
Meanwhile when we look at the hashrate charts we see not signs of any hashrate being "removed". If the FUD were correct we should have seen hashrate drop to 60 EHS but it is the same as before hovering around 140 EHS ±20

the -20eh is explained by a 15 dip due to a generation upgrade from the s19(95t) to the s19pro(110t)
same electric. but more power which allows them to not have to run as many machines
but this is not just a china upgrade many countries are now getting shipments delivered of the pro
(you see this happen as a pattern every couple weeks)

they dont want to push the difficulty up so by using say less asics(electric discount) but they can still be around below last fortnights tip for hashrate and not lose much bitcoin block confirms.
the other dip is the hobby miners that cant afford to mine because prices dipped below $40k

its nothing to do with 'banning china'
even the recent news about the vice president was just that he is forming a committee that will specialise in certain financial things including looking into bitcoin.
with the main objective of the illegal miners that are stealing electric. farms running using residential electric part of the grid instead of the industrial supply. and those that dont pay taxes.