OROBTC (OP)
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March 04, 2015, 06:54:56 PM |
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... This is the first time I have seen blockchain.info showing separate stats for BW.COM at their mining stats page. https://blockchain.info/poolsThe top four miners (percentage of recent block wins / hashing power): AntPool: 20% F2Pool: 16% BW.COM: 11% BTCChina Pool: 7% Total China: 54%(Sort of reminds when GHash.IO briefly took 51% of mining) |
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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VOR
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March 04, 2015, 07:08:14 PM |
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this is pretty alarming
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Lauda
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Terminated.
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March 04, 2015, 07:28:20 PM |
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Well China will reach superiority soon anyways, what did you expect?
You can't blame them, blame us. The same thing happened when ghash.io reached 51%. We should be setting up miners everywhere and properly distribute the hashrate even if it means that our profits will be slightly reduced.
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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CrackedLogic
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March 04, 2015, 07:30:57 PM |
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I thought bitcoin was banned in China? World 51% Attack  |
 BUY GAMESWITHBTCITCOINFORDISCOUNTEDPRICES |
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franky1
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March 04, 2015, 08:57:38 PM |
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this is pretty alarming
not really.. after all. for atleast a year, maybe even 3+ years america was dominating the mining.. |
I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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manfred
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Energy is Wealth
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March 04, 2015, 08:59:15 PM
Last edit: March 04, 2015, 09:10:43 PM by manfred |
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A you surprised? Just check the electricity price and labour cost plus miners are manufactured there too.....
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mlferro
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March 04, 2015, 09:02:23 PM |
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I thought bitcoin was banned in China? World 51% Attack I also thought this. But apparently not this one. |
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Snipe85
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Infleum
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March 04, 2015, 09:28:30 PM |
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A you surprised? Just check the electricity price and labour cost plus miners are manufactured there too.....
The electricity prices are low, but comparable to some other countries like Canada or India. Cheap labour might be the deciding factor here. It's nice to see they weren't deterred by tanking BTC prices in the recent months and kept their mines running. |
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maku
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March 04, 2015, 09:35:55 PM |
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I thought bitcoin was banned in China? World 51% Attack Bitcoin was banned 'officially' in China as it was in Russia. That means that it is not banned at all. People have still free access to it as you can see. You can't ban every pc or other device with internet connection after all. |
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pedrog
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March 04, 2015, 09:36:30 PM |
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They also have the biggest trade volume.
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vm_mpn
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March 04, 2015, 09:36:58 PM |
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Kind of curious if Chinese will manage to keep majority of coins they mine, or all the product ends up shipped overseas figuratively speaking...
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najzenmajsen
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March 04, 2015, 09:55:29 PM |
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i cant see how this can be new to you , prices are cheaper down in china , and not as many belivers in us i guess (most of btc's volume is from china aswell but you guys prolly already know that )
why is this alarming to you guys is my question?
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randy8777
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March 05, 2015, 01:50:57 AM |
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china was going to leave other parts of the world behind from the moment they entered bitcoin.
the ban in china didn't and won't do anything about that. we just have to accept it.
chances are there that it might reach a stunning 75% of the network.
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Addition
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March 05, 2015, 02:49:44 AM |
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Well China will reach superiority soon anyways, what did you expect?
You can't blame them, blame us. The same thing happened when ghash.io reached 51%. We should be setting up miners everywhere and properly distribute the hashrate even if it means that our profits will be slightly reduced.
Thoughts on the N Carolina acquisition from Charles Allen & BTCShop shareholders? https://www.youtube.com/watch?feature=player_detailpage&v=0ocO9okqccU#t=227Other mega mines will surely proliferate/correlate with electrically efficient geographic locations as BTC transaction volume increases (3-15Yrs) |
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ScryptAsic
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March 05, 2015, 03:35:01 AM |
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It is not hard to believe that China mines so much of the coins since they produce most of the miners. I would imagine that the cost savings on shipping alone makes a huge difference.
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crazyearner
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March 05, 2015, 03:45:58 AM |
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Indeed china is mining a lot more than US now due to rules regulation and their BS so more stopped due to this along with the ever growing costs of energy prices over their. China is where a lot of equipment is being made and sourced privately from big corporate investors and will continue to grow in number no doubt will go to 60% or even more of the mining.
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Sindelar1938
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March 05, 2015, 04:20:20 AM |
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Is there any evidence, actual evidence, that chinese miners tend to collude?
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MegaHustlr
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March 05, 2015, 04:34:36 AM |
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That is bad news , them getting so much of hashrate  |
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Herbert2020
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March 05, 2015, 05:48:06 AM |
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... This is the first time I have seen blockchain.info showing separate stats for BW.COM at their mining stats page. https://blockchain.info/poolsThe top four miners (percentage of recent block wins / hashing power): AntPool: 20% F2Pool: 16% BW.COM: 11% BTCChina Pool: 7% Total China: 54%(Sort of reminds when GHash.IO briefly took 51% of mining) i think it was time that china became the biggest miner in the world, the electricity price alone ensures that. besides the labor cost is low there so it is all profitable |
Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
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Kprawn
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March 05, 2015, 06:06:45 AM |
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I am not surprised by this at all. They have cheap electricity ...moderate to cold temperatures... diciplined workforce and possibly cheaper too. Just look at the Chinese mining operations in Africa. {They go in there, extract the raw minerals, export it back to China and refine them there... the country where they mined the raw minerals, are stripped bare and a few roads are build to compensate for their loss... the rest of the compensation, goes to some elite individuals with political connections and the rest of the country stay poor. I have watched a documentary on youtube {will look for it} where they state that most big companies in the USA are owned or in debt to the Chinese ...in affect these companies are mere puppets controlled by mayor Chinese shareholders. Gavin said that there are counter measures in place to prevent 51% attacks... so I am not really worried about that.  |
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