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
If there is any one country that have grip over bitcoin its the Chinese what we have witnessed recently is just a situation where bitcoin is get out of grip of the Chinese but that's the part of the pump and dump or several news that will either make or mar the price of bitcoin at any point in time. Aside that, the majority of the mining farms are in China even if not owned by the Chinese, you are still bound by the rules and regulations of the Chinese people which means they can still make anything possible.