Post
Topic
Board Bitcoin Discussion
Re: How community will stop Chinese database [BCH]
by
bitfools
on 16/11/2017, 03:47:09 UTC
Guys how do you think, can we defend true bitcoin from Chinese miners?
I think they will continue to attack bitcoin in the future.
Also easy hardfork from bch looks like it's private data base and it can be done whenever.

Bitcoin is based on a big assumption that people behave rationally - they do things to maximize their profit while avoiding operating at a loss. But what has been happening recently is that some people are willing to take losses - in a form of spending their money to pump and promote Bitcoin forks, for a long term chance to take control over Bitcoin. For them it's like a risky investment, so to defend ourselves against it we should make it as unprofitable as possible - we should never buy any forks, only sell them, we should also educate others about how forks are just fake coins. Lastly, there's always an option to switch PoW if majority of miners will go completely rogue.

That 51% be altruistic, but CHINA controls 90% of mining, but all those China miners hate each other, and are not colluding

Soon the CHINA GOV will tax the shit out of the free-loaders in CHINA, the days of FREE HYDRO power going to politically connected  ASHKENAZI-BITMAIN mining companys is over in CHINA.