Re: Does China Control Bitcoin?

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.

We cant really deny into this fact but doesnt mean that they do have the control over the network they might ave big impact but not totally coming

to a point that it would be monopolized considering that China isnt the only place that do mine. No one control bitcoin and if someone does then its value wont really be the same on what we are seeing now.

This.

Still is good that everybody is aware that the miningpools are not descentralized at all, most of them are control by the same entities and it could be a problem in the long run.

Frankly speaking there's no problem that can be seen from what you think because miningpool can't be decentralized and even at that can't be use as an attack against Bitcoin, in as much the coons is decentralized, little will the minner have a control if there will even be. Even at that there are many others that mine the said Bitcoin and not China only.

So you mean to say that miners control the bitcoins, then this is also not true either. If china has the biggest mining farms then it does not mean that china will be controlling the bitcoins. The advantage of decentralized currency is that it cannot be controlled.