Quote from: Iranus on May 19, 2017, 02:58:16 PM

Quote from: Jokoin on May 18, 2017, 10:47:52 PM

Hi

So i've been told that - because the Chinese currently mine majority of ALL bitcoins that get mined, they have the ability to reverse transactions...

Being the avid supporter of BTC that I am, I obviously fought back claiming "BTC transactions cannot be reversed" etc.

So what's the deal, is this true?

Cheers

"The Chinese" are not one group. Therefore while a large amount of hashrate is based in China, that doesn't mean that the pools which make up that hashrate necessarily collaborate with each other.

For example, F2Pool's leader Wang Chun conducted a poll and found that a majority of people viewing their Twitter wanted them to signal SegWit, so they decided to do that.

However, Antpool's leader Jihan Wu decided to signal for BU. So they're in opposition and are definitely not collaborating.

Oh yeah that makes total sense, i'm kicking myself for not thinking into it a bit more myself...