Re: Bitcoin IS basically DESTROYED

I don't think so, bitcoin is growing up and if in mining you mean there are some companies outside of china that mining bitcoin. Grin

you might right,but leets see how china take control on some exchange,and big farm on china have biggest bitcoin mining,we can't deny that china have better power consumption and can handle any problem related miner,and also their exchange have better price than coinbase or itbit.

Farms are big in China and as well as mining sites. But the thing is I don't know if they are really controlling the price of bitcoin or they can control or predict that is going to happen with bitcoin.
Because we all know that if something has in favor of majority then they can control it.

The Chinese are controlling about 70% of the mining at the moment. But their proportion has been reducing.

i don't think so that Chinese are holding bitoicn and they have 70% hold of bitocin. i think it is not easy to tell the right figure of the number of the bitcoin user.

Over 90% of all bitcoin exchange-traded volume is traded on Chinese exchanges, and around 80% of all bitcoin mining is controlled by Chinese miners or mining pools.

http://bitcoincharts.com/charts/volumepie/

The words are useless. China owns Bitcoin

there wouldnt be much to worry about even if the majority of mining continued to take place in China. In fact, Bitcoins incentive structure persuades everyone in the system to act properly.