blockchain.info now shows CHINA mining 54% of BTC

[bryant.coleman]

They are not much organized. So there is nothing to fear. But I am sure that a lot of mining operations will cease to exist if the exchange rate doesn't go above $400 in the next few months.

[1714795373]

1714795373

[ScryptAsic]

They are not much organized. So there is nothing to fear. But I am sure that a lot of mining operations will cease to exist if the exchange rate doesn't go above $400 in the next few months.

Some areas where these "mega" farms are have power as cheap as 2 cents. Bitcoin can drop in price under $200 and they still make a profit. Unfortunately the USA for the most part has more expensive power + the added shipping costs of the miners from China.

[Mikestang]

Centralized decentralization.  If they teamed up that entity would control the present and future of bitcoin; I don't like it.

[Gabri]

Not really good news! But they also have the biggest trade volume...

[fildza]

Is there mining hardware produce from china ?

[dothebeats]

Not surprising though. Seeing that their location is ideal for a mining business, it is not anymore surprising that most of the farms are located in China. Low electricity costs, cheap manpower services, and cool climate (perfectly ideal for your miner's cooling needs) they will still make a profit even if the price of btc drops.

[cambda]

Centralized decentralization.  If they teamed up that entity would control the present and future of bitcoin; I don't like it.

The only theoretical problem could be if Chinese government took control over all the Bitcoin mining farms in China and 51% attacked Bitcoin.

But I can understand why these Bitcoin mining farms are located there - cheap electricity, labour and no vat on hardware

[medUSA]

The top four miners (percentage of recent block wins / hashing power):
AntPool:           20%
F2Pool:            16%
BW.COM:         11%
BTCChina Pool:  7%
Total China:    54%

I am quite sure the Chinese do not own 54% of global hashing power. They are pools and they are dominating because miners point their hashing power to those pools.

Pools come and go. Most only dominate for a few months and then slowly fades away. Look at where BTCGuild and GHash are now. How about ASICMiner? 

[hl5460]

...

This is the first time I have seen blockchain.info showing separate stats for BW.COM at their mining stats page.

https://blockchain.info/pools

The 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)

http://www.blockmeta.com/miner/TangPool

Tangpool is in China and takes up 2.29% of the hashrate.

[Kazimir]

Well it used to be UNITED STATES mining more than 50%, which was extremely alarming. You know, with America being anti-freedom and anti-privacy and pro-banks and pro-dollars and pro-FED and everything.

So it's a good thing this is balancing out, especially considering there more than 4 times less Americans than Chinese.

[Mikestang]

Well it used to be UNITED STATES mining more than 50%, which was extremely alarming. You know, with America being anti-freedom and anti-privacy and pro-banks and pro-dollars and pro-FED and everything.

So it's a good thing this is balancing out, especially considering there more than 4 times less Americans than Chinese.

I'd be more comfortable if no single county dominated the hashing power of the network.

[AtheistAKASaneBrain]

I thought bitcoin was banned in China? World 51% Attack

How to raise the interest in something to the next level? make it ilegal and bang you go it.

[Grumpster]

I think everyone is panicing over nothing. Do you guys really think any other country could compete in terms of mining power in the current economic climate? Absolutely everything is cheaper in China.

[gentlemand]

Kind of curious if Chinese will manage to keep majority of coins they mine, or all the product ends up shipped overseas figuratively speaking...

There's not much they can do with it other than sell it. There's nothing approaching actual merchant use there. That was squished pretty rapidly when it looked like it might be brewing.

[Possum577]

Are you saying the China Government is mining or that people from China are mining?

I wouldn't  link miners in China to the Chinese Government...if they're in the BTC community they are most assuredly with us, no? Unless of course you can confirm it's a Chinese government operation.

[RodeoX]

this is pretty alarming

not really..

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

Yeah, where were the alarm bells when virtually 100% of the hash power was in the US?
And a conspiracy among Chinese miners to launch a 51% attack is not logical as it would hurt their businesses as much as anyone.  

[tss]

this is slightly inaccurate.  lots of US miners on f2pool for instance.

[LiteCoinGuy]

he should start a mining farm 

[nextblast]

The biggest btc mine in the world is right here
https://bitcointalk.org/index.php?topic=969823.0

You should see the massive massive mining infrastructure and get a feeling what it likes.

[Beliathon]

...

This is the first time I have seen blockchain.info showing separate stats for BW.COM at their mining stats page.

https://blockchain.info/pools

The 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)

It's not "china" as in "China's government", it's "a bunch of random folks who happen to live in the nation where one third of all humans live". Nothing to be alarmed about.