Re: Bitcoin IS basically DESTROYED

Why would the fact that China is basically controlling mining do anything to Bitcoin?

The whole concept of bitcoin was based around decentralization.

If China controlls a large % of the hash power then it would only take the collaboration of a few to hit the dreaded 51% control point

This statement suggests that the Chinese are more corrupt that other nationalities. I don't believe that they are. Would you have made that statement if a large % of hash power was controlled by Americans?

People have made this argument in the past and it basically comes down to the Chinese being very efficient and prone to in-group interests rather than community-based interests makes it more difficult for the community to interact with miners from China due to their more-often-than-not lack of doing anything that doesn't give them more power or money. NA citizens in general or more open to doing things for the good of the community as a whole, but there are some that have the same ideals.