Wrong, Bitcoin is showing that it's open for business to scammers, hackers and criminals without any worries .

Whose gonna use a tech that is a cesspool of criminals and scammers?!? easily stolen with no way of recovering ever back . Plus bitcoin is way way more centralized than other altcoins, the mining sphere in bitcoin is owned by the Chinese and in effect the block chain is owned and controlled by them as well ( top 3 Chinese pools can easily do 51% attack if they wish ) . Just because you might be running a node  that doesn't mean bitcoin network is decentralized .

that would work as well

cheerz 

tbh I'm quite done with this thread as is going nowhere but down in mud throwing between each poster, and quite frankly I'm gonna enjoy my Sunday before the beginning of work week because if bitcoin dies tomorrow it won't affect me at all but some mega-farms are stand to loose boat load of money so they would do everything they can to skew the general opinion toward their position.

But one thing is sure if the block size increases to 8mb as the Chinese want it to be then that's no way is a consensus because theoretically they say my way or the highway

   you see unlike some people I don't have time to keep posting to raise my status to legendary because in real life I actually don't have much free time to keep arguing about nonsense plus I've got much better stuff to do with my free time than trolling . Go thru my post history and please show me  one instance that I was trolling a thread?!?    

It seems you've come short and are relying on " I'm a troll argument" well good for you hopes that makes you happy.

   you want to get to see who has a higher education here...  I have no problem with that I show my MD degree and you show me yours?  ok?  let's see who is more educated?  

It's not my usual standard to get low to your level or try to show off but at this instance I feel like teach you a lesson so you don't randomly challenge people's education  

It's my first time, picking a number so I go for +3.1 to +3.5 . 

Also there is big spike today in the network hash rate, wondering if it's just a variance or some farms just come online 

I see you're coming from the camp of " it can't never scale up " but I want the Bitcoin somehow magically becomes main stream so I can keep profit from mining on it    good luck with that    

well if you're not bitcoin enthusiastic then why the heck you spending your time here in BCT ??!!!   what are your motives for being here?

No but it's one of the few countries in the world with restricted internet access (GFW) . Now name me how many other countries are in that category? 

No it won't be a USA coin, as a matter of fact everybody can access the Blockchain and send/received transactions even in China or Africa or even moon but mining of it becomes more difficult because it's not like before anymore where all you needed was cheap hardware along with cheap power equals to profit.

Lets get this straight,  being able to accessing the network is not the same as being able to mine on it. You keep bundling these two together to benefit your flawed argument.

You're contradicting yourself    , bitcoin mining as is right now is CENTRALIZED in China that is a fact that you can't ignore. Again raising block size limit won't make bitcoin inaccessible in China or Africa , it would make only MINING harder due to connection restriction, which is nobody's fault. The network has grown over past several years, you can't keep using the same old tricks and praying that everything would be fine.

Also you can't just keep setting up shacks in remote locations with cheap power and poor internet connection just because you want to mine bitcoin and dump it to profit from it. As a matter of fact those mega-farms couldn't careless about mining being centralized in a single location . All they care is ROI and profit.

It amazes me people keep defending these mega-farms and at the same time they bring up decentralization , it's oxymoron . There's saying that goes as " you can't patch stupid " it fits perfectly here.

If Bitcoin does't scale up  it would just collapse, then who cares about stability and decentralization when it's already collapsed because of not being able to scale up. Get your priority  straight .

 

Actually that would be a good idea since in China the government can take over the farms if they wish to without any recourse, just make bitcoin mining illegal and confiscate the hardware and perform a 51% attack on the rest of the network.  having all this hashing power centralized in china is a liability for the rest of the network.

Also without the Chinese miner, the network is still world wide and available in china only that mining is not possible because their own government policy of censorship and restriction.

So what if they can't get access to better connection is not other people's fault, instead you expect everybody else bend over to their wishes? how long you plan on bending over and take it just for the sake of it?    plus having more than 50% of hashing power centralized in one location is not good either and is not called " hashing strength "  it's rather a weakness where the government can take over it if they wish especially in China. I see rather as liability for the network rather than strenght

Simply they either need to relocated to somewhere else or slowly die while dragging the rest of community with them.
 

TA (along with macroeconomics) is way way more reliable in FX than in bitcoin, simply because the sheer volume of orders (liquidity) in Fx comparing to bitcoin hence S/R ( support/resistance) along with pivot points are more reliable and respected.

You need couple of billions in order to be able to manipulate the prices in FX whereas in bitcoin a couple of millions would do it   plus if you get caught doing it in FX there are fines/jail time whereas in bitcoin is just another day in wild west or shall i say another day in paradise  

well i thought the whole point of this discussion is about Chinese miner not being able to mine bigger blocks because of their poor internet connection ( stale/orphan blocks ) hence rejecting the whole idea of increase block size because they stand to loose money to those with better internet connection.

Also dumping prices to singles digits is a guarantee death sentence for the mega-farms since they won't be able to sustain their operation cost. They stand to loose millions of dollars if that happens  . Maybe the price goes into singles digits for a few months and once the mega-farms are all bankrupt we can start again but this time any Chinese mega-farm investor will think twice before setting up a shop in some remote location in china just because they have access to cheap power!!


The whole point here is the Chinese mega-farms are holding a choke point on further progress of Bitcoin/Blockchain as a whole . to them profiting/ROI  is more important than survival/Scaling  of bitcoin itself . As is now, the whole mining is centralized mainly in China, a country with restricted internet access and censorship.


I believe in the end the Chinese mega-farms are either way doomed if they can't get access to some sorta fiber optic connection or relocating their operation to somewhere else, because once we reach the transactions limit something needs to be done otherwise the whole Bitcoin will collapse

that's true only if you live in China , outside of it you can actually use it now a days to buy stuff, pay bills, send money across the globe, etc etc

that would be truly awesome, also that would cause less selling pressure since small miners don't sell everything they mine unlike mega-farms. again another win win strategy     it seems the rest of the community is better off without the Chinese and their bickering  

In a way the Chinese miners are hindering any further progress that could've taken place already.

They should've not set up mega-farms in a country with restricted internet to begin with but their greed of making money  didn't stop them from doing it and now the rest of community needs to suffer just because they can't access internet is their own fault and not anybody's else. I say if they can't keep up let them sink for good.

They can go on and make a Chinese version of it and trade it among themselves  and the rest of us can progress further without any limitation and a better decentralization.  it's a win win strategy  

that's equal to shooting yourself in the foot. Lets say hypothetical they go for it, what they gonna use the Chinese version of bitcoin for (they already had QQ coin)? passing hot potato from one hand to another  do more speculation?!?!  while the rest of the world uses the real bitcoin with better features and increased transaction per seconds.

 As is stand today, bitcoin has no utility in China, expect for dumping and taking profit ( there is no real economy at all, it's all speculative) if they cut themselves from the rest of the world , then they have severely limited their market . Heck there might not be enough buyers alone in China to absorb the dumping from mega-farms  hence price sinks and subsequently the mega-farms need to close down if they can't meet their operation cost. It would be their demise .

Also it might be better for the Blockchain as a whole since having majority of hashing power centralized in China is not a good thing at all. What if tomorrow their government starts to crack down on mega-farms?  i think that would actually be good for bitcoin since it would result in spread of hashrate  and take out their majority.

but but but majority of Chinese exchanges have fake volume, with organized pump and dump     . It's beyond me to understand how people can trust any of these " major"    Chinese exchanges .  All it takes for them to crumble/disappear overnight with your bitcoin  is a little bit of government crack down........  aaaaannnnnnnd its gone     then you would see people start crying and complaining about their stolen coins    
 
IMO all these " major" Chinese exchanges are operating in grey area of law in China hence very susceptible to shutdown at any moment law changes or a ban comes to effect

As for Chinese mega-farms miner, they're simply greedy and are init to purely profit from it by dumping their mined coins every day. All they're are after is fiat money, they don't really give a fuck about bitcoin since it has ZERO utility in China.  

Plus majority of mega-farm are located in very remote locations so obviously getting a proper internet connection would really hurt their profit margin hence if they could have their way, they would never want to upgrade at all. It's like asking a kid to give up it's candy voluntarily  

Toronto

   it might comes to that if I can't sell them as is  . sell the controller boards and use the fans for some other project