Re: China owns +90% of ALL CRYPTO - Alt's Included ( 51% is Myth )
this misunderstanding about Chinese and their control over bitcoin has been around for a very long time and when you write a long essay about it, that still doesn't make it true. it is still the same flawed discussion that has been discussed a million times here.
What in the hell are you talking about?
Ten years ago BITCOIN-ASIC chips didn't exist, BTC was mined on PC's, on the motherboard, on the CPU
Today 99% of all BTC mining is done on ASIC, and CHINA owns 100% of the foundary's that make the ASIC chip's for CRYPTO, all crypto including Bitcoin.
That is the point of the article.
CHINA owns BITCOIN, by virtue of the fact, they own the miners that mine them, and they mine first 10:1 ratio over the west, or any other customer,
BITMAIN is king of all Crypto on earth.
51% my ass, one of the biggest lie's in the bitcoin community is how everybody ignores the 500LB gorilla that controls +90% of all mining ( server transaction )
Please pray-tell you read the article ... https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b
Before you commented?
And all that has to happen with a project is re-writing the code to make it ASIC resistant (for that coding anyway). ASICs were used because they are specialized chips used for 1 thing....and they figured it would be perfect for mining. Yes in China it's easier and cheaper to manufacture ASICs, doesn't mean that they have all the mining (or control the world, as is your premise). China does have a goal to become the dominant country in the world, not a secret. If you don't like companies/people in China controlling the majority hash power, do something about it other than spouting a bunch of nonsense. Create/help create more mining pools outside of China. Find ways to manufacture ASIC chips, to be profitable as well, if you so deem. Talk to project devs to see if you can get the coding changed to become ASIC resistant for that project (or become a project dev and do it yourself). Just sayin mate
