blockchain.info now shows CHINA mining 54% of BTC

[OROBTC]

...

Possum577

China is a big place with a lot of moving parts.  It is not monolithic.  So, no, I am not really alarmed, the point of my OP was just to show where the mining action is now.  

I was a little concerned when GHash.IO hit that 51% number a year or so ago, but you need would AT LEAST three of the four Chinese mining pools acting in concert to "51%" the BTC system, which strikes me as unlikely.  One reason (and it's not worth much, granted) is that there are so many bearing producers & exporters in China that are cutting each others' throats...  Same with vehicles (there are some 90 vehicle manufacturers there, many of them in Peru (over 20 that I myself have seen when there).  My prediction is that blood will run among the Chinese truck makers...

Nonetheless, I would be perfectly happy to see some Westerners belly-up and start serious BTC mining.  I have read about BTC mines in Sweden and (especially) Iceland that take advantage of low electricity rates and cold air for cooling.  Or Alaska!

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[ranochigo]

I Am 100% that  China Will Control Take More than 80% of BTC Mining Before 2020.

This is true but it will probably happen sooner than later, have not been around for awhile is there a ban still in china?

Yes, but I doubt mining operations will be banned though. Bitcoin is banned, not the mining operations.

Bitcoin is restricted. Transactions can still be made with Bitcoin between people but banks are not allowed to handle transactions associated with Bitcoin.

[SargeR33]

I Am 100% that  China Will Control Take More than 80% of BTC Mining Before 2020.

This is true but it will probably happen sooner than later, have not been around for awhile is there a ban still in china?

Yes, but I doubt mining operations will be banned though. Bitcoin is banned, not the mining operations.

Bitcoin is restricted. Transactions can still be made with Bitcoin between people but banks are not allowed to handle transactions associated with Bitcoin.

Maybe that will allow them to mine bitcoins but won't allow them to dump into the exchanges. Kind of good then

How can a bank prove a transaction is bitcoin associated lol. If I sold bitcoins on Localbitcoins, for example, and someone did a cash deposit the bank cannot find out what the transaction was for? On what premise can they conclude it was related to bitcoin. Bitcoins(just like WoW gold etc) are useless to the Chinese, the USD is all they care about.

[ranochigo]

I Am 100% that  China Will Control Take More than 80% of BTC Mining Before 2020.

This is true but it will probably happen sooner than later, have not been around for awhile is there a ban still in china?

Yes, but I doubt mining operations will be banned though. Bitcoin is banned, not the mining operations.

Bitcoin is restricted. Transactions can still be made with Bitcoin between people but banks are not allowed to handle transactions associated with Bitcoin.

Maybe that will allow them to mine bitcoins but won't allow them to dump into the exchanges. Kind of good then

How can a bank prove a transaction is bitcoin associated lol. If I sold bitcoins on Localbitcoins, for example, and someone did a cash deposit the bank cannot find out what the transaction was for? On what premise can they conclude it was related to bitcoin. Bitcoins(just like WoW gold etc) are useless to the Chinese, the USD is all they care about.

Basically, most exchanges uses a static bank account. The bank can know that the bank account is used for Bitcoin trading if they check it via the website. It isn't difficult to bind an account to a Bitcoin transaction.

[picolo]

I am not surprise that China has the most mining as the price of bitcoin explosion in the end of 2013 because of Chinese people.

There are likely more people getting rich in China than in all the rest of the world combined.

[RedhatCAT]

this is pretty alarming

not really..

after all. for atleast a year, maybe even 3+ years america was dominating the mining..

The US government does not quite have as negative view on bitcoin as the Chinese government does. There is also a lot more corruption throughout the Chinese government, and overall less rule of law when it comes to private property. This means that it would be more conceivable for the chinese government to seize chinese miners and use them to attack the network

[networthsigns]

I am not surprise that China has the most mining as the price of bitcoin explosion in the end of 2013 because of Chinese people.

There are likely more people getting rich in China than in all the rest of the world combined.

Not strictly true, india has started booming recently and is well on the way to become the number 2 superpower but yes both china and india are gaining so much wealth between them they have became the new what was the American dream.

I am not surprised china has that much of the mining under control for the obvious reason a lot is made in china and i suspect that involves mining equipment to? 

[kpitti]

China is economics with many possibilities which you can`t use in another countries. China has fast development, they jump into business fast and they are producing miners. It was just question of time when companies like Bitmain start to build strong pools of it`s own. It will be even more I think.

[hl5460]

Antminer raised S5 price by 20% while LKetc cut price from 1.85m/Phash to 1.5m/Phash
More on:
http://8btc.com/thread-14829-1-1.html

[ngzhang]

 

[hl5460]

Ha, here comes the hot shot. What's next move for Avalon?