How did China manage to take control of bitcoin? 70% of the hash rate is centralized in China, and how many individuals own those nodes?
Also, Isn't it a little strange that freedom-loving libertarians are putting their money/trust in a network that's run by a socialist autocracy from hell?
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you're retarded. a drooling retard. literally fucking braindead.
/thread
China will pay for the coronavirus in bitcoin
claim haircomb tokens on the bitcoin chain sir
What he said
>can't answer simple questions
>calls other people braindead
I assume, since you ask this question, that you are a complete and utter noob.
in brief, miners nedd to comply to the rules of the network or they go broke. that's literally the point of bitcoin and the blockchain. the fact that many people have forgotten it is just sad and shows to what degree shitcoins are centralized.
miners tried to take control with bch and they horribly failed.
the nodes of the bitcoin network all around the world (you can run one if you want), enforce the network rules the miners have to play by.
and last, if they ever fuck up, there are plenty of people and organisations that could and would gladly step in.
now please inform yourself. cant believe I typed this out for a fucking newfag.
Even worse then that is the fact that BTC people are willing to pay extremely high fees just to keep Jihan Wu from killing BTC.
China is dominant in mining, but node ownership is even more dominated by Europe and the US. You'd know this if you weren't a low info nigger.
>miners tried to take control with bch and they horribly failed.
BTC is going to make the largest BCH proponent rich as fuck.
That's not true.
The mining is more important than nodes though right? Like I could run a thousand nodes if I really wanted to
Yes, don't believe your lying eyes nigger:
bitnodes.io
Sorry you got meme'd.
GTFO shitcoiners
China also makes the toilet paper I while my ass with and a bunch of other shit.
So I guess it's ok since they a servers. Those beta fags will also start importing their women.
cause electricity costs less in china
Chinese firms have a global reach too. Can you verify who's running them?
Miners in China aren't even on your retarded map dipshit because they ARE the miners. The broadcasting nodes are what you're looking at. That's not even mentioning the fact that all those nodes you're mentioning are manufactured by Bitmain. Jihan Wu is going to be the wealthiest man in the world all because if you maxipads don't pay him those fees, he'll kill btc.
Yeah, it's called an IP address. CCP is somehow using residential IP ranges, sounds legit.
>all those nodes you're mentioning are manufactured by Bitmain
Nodes aren't miners you fucking dumb Zig Forums-tier pajeet intellect cunt, anyone running Bitcoin Core on their home PC or a raspberry pi is a node you nigger brainlet motherfucker. I run an electrum server on my home network, Bitmain didn't make my server. 10 minutes, 10 fucking minutes of reading would have given you basic understanding of this topic.
okay shizo. we'll see. guess you still don't understand bitcoins resilience.
stay poor nigger faggot.
>nodes are manufactured by Bitmain
Jesus, you are a fucking moron.
Nice obfuscation retard. A miner is a node. It's a mining node. Your little piece shit computer does nothing whatsoever for securing the network. That's not even mentioning the fact that the majority of those broadcasters aren't even running the proper software.
Running a node is not for securing the network nigger.
So how come BTC can't stop any of the other forks with their network if you have the majority hash?
Got that right, dipshit. And without paying those fees, Jihan stops securing your retard chain.
You should know the answer to that high info informed Einstein. It's because the other forks run their own forked node software, lmao. It doesn't matter who has the most proof of work if that proof of work is invalid to the nodes. Nodes > miners, and you just proved it with your example.
Exactly. Your node doesn't secure shit and that hobbled together network of yours isn't secure without making Jihan Wu the wealthiest man in the world. Who Satoshi is doesn't mean shit because Jihan is the king of crypto.
take your meds, you are fucking retarded. it must be tough when your inbred genetics and impacted cognitive functions prevent you from understanding how bitcoin actually works.
Sure thing maxipad. Have fun in poverty. You'll be paying Jihan half your btc just to move your shitcoin soon enough. Go ahead and pump this shit. Jihan only gets richer.
coal. cheap money. many millionaires. currency controls incentivized early adoption. low resistance due to currency already gone digital. china has also been stacking gold for about 20 years now, this follows.
>understanding
you keep using that word but i dont think you know what it means...
on china xi implementing communism...
"we will do whatever works and call it communism..."
you seem to have an unhealthy fixation on Jihan. anywhere where electricity is cheap enough can compete. get over it, nocoiner.
>anywhere where electricity is cheap enough can compete. get over it, nocoiner.
No, it can't. Simple reason being that nobody can keep up with the mining rigs produced by Bitmain. You seem to lack knowledge about the very thing you idiots tout.