Post
Topic
Board Bitcoin Discussion
Re: Can China takeover Bitcoin network?
by
KEN L
on 28/05/2021, 03:28:00 UTC
Most btc mining is done in China because electricity is cheap there and all mining hardware originates from there also right?

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?

Has the chinese government or chinese central bank added bitcoins to their treasury reserves apart from the tons of gold they have been buying recently?

If the chinese govenment/central bank has bitcoins in its treasury then there is no incentive for them to raid and take control of the mining pools in china otherwise they be shooting themselves in the foot right because they be crashing the price value of their btc treasury reserves correct?

Do you think electricity will get more expensive in China and by when? Higher electricity costs should encourage mining out of China to other countries so the mining becomes more decentralized.

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?

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Now  China Govenment take more policy to forbide Bitcoin mining.
More mining pool will be closed.what we worried will be truth.

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