Post
Topic
Board Economics
Re: Does China Control Bitcoin?
by
audaciousbeing
on 16/07/2019, 09:51:28 UTC
Here's an interesting article citing some recent research which claims that the majority of mining power is in China, and those miners may have some perks that others outside the country do not have.

Here's the article.
https://thenextweb.com/hardfork/2018/10/08/china-means-intent-destroy-bitcoin/

It talks about whether China could destroy Bitcoin, or perhaps use it in some other way.

What do you think? Does China control Bitcoin? If so, is it the government or no? Are these Chinese Bitcoin mining farms working together? What might China do with Bitcoin (government or no) in the future? AKA, attempt to destroy Bitcoin (would they be successful, do you think), use it to bring more wealth into the country or personal pockets, use it to attack other nations, etc?

Looking forward to your thoughts,
The Cyberius team. 

These are theories that have been ravaging the crypto industry for long and more often than not, they have been refuted. Yes the topographical location of China makes it palatable for several mining sites to be located there but that does not mean its being controlled. Its a business and businessmen would continue to look for where they can have competitive advantage at all times. Its part of the fundamentals of business if the motive is to make profit without any sinister motive.