Quote from: Upgrade00 on February 13, 2021, 08:36:35 PM

Quote from: very_452001 on February 13, 2021, 07:52:28 PM

China controls over 50% of the btc hashrate meaning they can do a 51% attack on the bitcoin network or control which btc transactions are valid according to their liking correct?

I believe a bulk of the mining hashrate is as a result of mining pools; miners from all over the world concentrate their computing power to a single server to increase the chances of them getting the next block collectively. This does not mean the hashrate is controlled by China, miners can easily switch to pools from other nations.

Quote from: very_452001 on February 13, 2021, 07:52:28 PM

Finally if the Chinese government/central bank dont have bitcoins in their treasuries and release their digital chinese currency CBDC then from there what guarantees can be made to long term btc investors that the chinese regime wont raid btc mining pools in China or torturing/threatening mining pool owners into handing over the hashrate control to them or force mining pool owners to get together together into 1 big mining pool company owned by the chinese authorities?

As I said, the pools are not controlled so miners can as easily switch and reduce the hashrate to those pools. China has been restrictive to bitcoin adoption for a couple of years now, it's unlikely they will get to manipulate the network as consensus rule can be used to render certain chains invalid.

Okay so you saying miners can simply change their pool to another country by simply changing the settings in the mining software/interface and that will cause china to lose some hashrate?

Do the miners have to do this before a potential takeover by the chinese state or can it be done afterwards or too late by then?