hl5460
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news.8btc.com
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March 07, 2015, 03:00:11 AM |
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 he should start a mining farm  Interesting, after the relaying of message of this thread. http://www.8btc.com/54-percent-hashrateCheck out the Chinese comment to this thread! |
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Even if you use Bitcoin through Tor, the way transactions are handled by the network makes anonymity difficult to achieve. Do not expect your transactions to be anonymous unless you really know what you're doing.
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OROBTC (OP)
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March 07, 2015, 06:41:13 AM |
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...
There are currently FOUR major groups mining BTC in China. At least for the moment, it is hard to see Bitmain/AntMiner (say) cooperate with the other three. The other are competitors, each of whom have Alpha-Men (Alpha-Women too perhaps) leading them, likely lessening a cooperation between them to misuse any mining concentration between them.
And should the .gov of the PRC decide these guys are a problem, well, they will be suppressed.
Should the .gov see them as a further tool for increasing their world power in general, I think we would have time to notice that. And act..., buying gold or other products and liquidating our BTC hoards.
* * *
Now if Intel or Toshiba or Samsung would start making ASIC chips (and machines), well, maybe setting up more shops in Iceland, Washington State, etc. might yield big, non-Chinese BTC mines.
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cheekychap
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March 07, 2015, 07:12:00 AM |
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I am not surprised that this is true .
But doesn't it create a vast imbalance of Bitcoins in the world due to this ?
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SargeR33
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★Bitin.io★ - Instant Exchange
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March 07, 2015, 07:53:39 AM |
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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...
HA. China keep the bitcoin? Absolutely not a chance in hell. These same people setting up these huge mining rigs in China are the same people who pay people there $2 a day to mine gold in online games for 12hrs a day. What do they do with this gold? Sell it for USD. What do they do with bitcoin? Sell it for USD. What else do they do? They scam and hack accounts in online games ALL THE TIME to steal valuable items and sell them off. Believe me if they could conjure a plan to steal your bitcoins, you won't have them anymore. If they had the capacity to work together to build a >51% mining network, they will be double spending faster than you can question it. |
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ranochigo
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March 07, 2015, 08:06:56 AM |
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I am not surprised that this is true .
But doesn't it create a vast imbalance of Bitcoins in the world due to this ?
I dont believe it would affect the imbalance of the amount of Bitcoin in the world. Most people withdraw it after mining and they may be from other parts of the world. The imbalance of Bitcoins would not affect anything IMO as Bitcoin can be used anywhere with internet. |
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fox19891989
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March 07, 2015, 09:15:28 AM |
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The biggest issue I see with the Chinese exchanges is them paying out interest, that scares the living hell out of me.
Seriously? If that's the case, they're headed for a major crash, and not too far in the future. That kind of thing only happens in a major bubble, or in the presence of incredibly stupid monetary policy. That's a sign as strong as no-income, no-assets, zero-down-payment low interest loans in the US mortgage market was. They have some financial product, which pays huge interests in Chinese Xchanges. They caused the btc crash from 600 USD to 150USD because they need to dump those coins to get more coins, therefore they have money to pay the high interests. It's harmful to btc. |
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Berau
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March 07, 2015, 09:30:22 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) Does antpool operate in China as well? I never knew that. Wow, so was the price drop caused by the Chinese miners dumping their coins? |
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krigger
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Presale is live!
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March 07, 2015, 10:34:43 AM |
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Yes that is possible. China make cheap parts, so no wonder. They can make a miner in a 1/4 of price and use it with gain.
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ranochigo
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March 07, 2015, 12:44:08 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) Does antpool operate in China as well? I never knew that. Wow, so was the price drop caused by the Chinese miners dumping their coins? Bitmain is based in China so their pool are also based in China. Perhaps, but since they aren't private and solo pool, you shouldn't assume they are all from China. The dump can happen for a variety of reasons. Many Chinese miners sells a portion of the coins and hold the rest. (judging by what the biggest mining farm's owner said) |
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Agestorzrxx
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March 07, 2015, 12:56:38 PM |
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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.
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Meuh6879
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March 07, 2015, 01:26:34 PM |
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this is pretty alarming
use P2Pool. Simple. |
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zee11224
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Authentic Individual
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March 07, 2015, 01:35:42 PM |
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I Am 100% that China Will Control Take More than 80% of BTC Mining Before 2020.
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Berau
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March 07, 2015, 10:17:23 PM |
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I Am 100% that China Will Control Take More than 80% of BTC Mining Before 2020.
Well... Everything will be made in China soon(Actually it is right now), so why not add bitcoins to the list? |
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maku
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March 07, 2015, 10:23:04 PM |
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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.
Actually it is quite surprising since Bitcoin in China is not really welcome by the authorities. I guess they are mining under cover of other IT projects and while doing so they managed to beat everyone. |
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SargeR33
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★Bitin.io★ - Instant Exchange
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March 07, 2015, 10:51:07 PM |
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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.
Actually it is quite surprising since Bitcoin in China is not really welcome by the authorities. I guess they are mining under cover of other IT projects and while doing so they managed to beat everyone. They will do what ever it takes to get any USD they can. |
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funtotry
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Ever wanted to run your own casino? PM me for info
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March 07, 2015, 10:52:18 PM |
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Quite big, maybe some 1 person is owning all those pools and is planning a 51% percent attack. Or maybe its the government performing a 51% attack ruining bitcoin so that it doesn't compete with the scam banks. Lots of theories can attempt to explain this, but maybe they just happen to own 54% and will not do a 51% attack.
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Possum577
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March 08, 2015, 01:39:22 AM |
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To the OP, what's your take on these stats? Is this alarming? Is it expected? Why should we care that folks in China make up 54% of BTC mining today?
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cozk
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March 08, 2015, 01:44:08 AM |
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So what ? Not like there was only 1 miner is China.
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Zoomer
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March 08, 2015, 02:29:15 AM |
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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? |
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MilesJohan
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March 08, 2015, 02:32:51 AM |
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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. |
MileyJohanson
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