Quote from: johnyj on June 06, 2015, 06:12:36 PM

Quote from: hobbymd on June 06, 2015, 05:37:57 PM

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That works for me. It would be kind of cool if they refused to upgrade, the difficulty drops massively and westerners are able to mine again for a reasonable profit. lol

that would be truly awesome, also that would cause less selling pressure since small miners don't sell everything they mine unlike mega-farms. again another win win strategy Cheesy

it seems the rest of the community is better off without the Chinese and their bickering Cool

Please think it over again: If Chinese decided to work further on the original blockchain, let's call it bitcoin legacy, then what will they do with their coins on the new blockchain bitcoin XT? They will dump them all, that will be millions of coins dumped on western exchanges, sending bitcoin's value to single digits, maybe cents, thus the whole XT coin ecosystem will collapse. Similarly XT people will dump all their coins on the bitcoin legacy chain, causing their coins to become worthless, both coins dead

well i thought the whole point of this discussion is about Chinese miner not being able to mine bigger blocks because of their poor internet connection ( stale/orphan blocks ) hence rejecting the whole idea of increase block size because they stand to loose money to those with better internet connection.

Also dumping prices to singles digits is a guarantee death sentence for the mega-farms since they won't be able to sustain their operation cost. They stand to loose millions of dollars if that happens Grin

. Maybe the price goes into singles digits for a few months and once the mega-farms are all bankrupt we can start again but this time any Chinese mega-farm investor will think twice before setting up a shop in some remote location in china just because they have access to cheap power!!

The whole point here is the Chinese mega-farms are holding a choke point on further progress of Bitcoin/Blockchain as a whole . to them profiting/ROI is more important than survival/Scaling of bitcoin itself . As is now, the whole mining is centralized mainly in China, a country with restricted internet access and censorship.

I believe in the end the Chinese mega-farms are either way doomed if they can't get access to some sorta fiber optic connection or relocating their operation to somewhere else, because once we reach the transactions limit something needs to be done otherwise the whole Bitcoin will collapse