Post
Topic
Board Economics
Re: Does China Control Bitcoin?
by
wheelz1200
on 26/11/2019, 20:55:56 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. 

Coincidentally the bigger bitcoin gets the less someone would be abt to destroy it.  I think a single government understands they could not bring down bitcoin.  There are too many widespread actors on the network that would have to simultaneously collaborate which just would not happen.  People are becoming more and more reliant on crypto which in turn would make them more abt to defend it.  Crypto is here to stay, at least for years to come.