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0 pointsyottalove5y ago0 comments

Bitcoin mining power is concentrated in China with about eight times the hash rate of number two United States, which in turn has a similar hash rate to Russia and Kazakhstan. Rounding out the top six, composing more than 90% of the total world hash rate, is Malaysia and Iran. Do you think these countries share the ideological goals of Satoshi Nakamoto's dream?

I have no doubt that a persistent 51% attack by a cartel of miners would make Bitcoin liquidity an indefinite hard zero for selected "owners" of BTC.

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user-the-name5y ago

Also, many of the miners in other countries are also Chinese.

I don't think the Chinese miners follow any particular ideology here other than to extract as much money out of the bitcoin market as they can, though.

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user-the-name5y ago

Also, many of the miners in other countries are also Chinese.

I don't think the Chinese miners follow any particular ideology here other than to extract as much money out of the bitcoin market as they can, though.

j / k navigate · click thread line to collapse