/biz/ - Business & Finance

>>25772684
bumpan

>>25772684
Funds will be safeu

How much BTC mining power does China have atm?

Would they keep the miners on or simply greatly reduce the amount of new BTC being mined to greatly boost the price further in this bullrun?

>>25772684

the CCP should want btc to succeed because it threatens USD hegemony

even if they commandeered all miners, its in their best interest to maintain the value and proper functioning of the system

>>25773328
You can't reduce the amount being mined because the mining difficulty will eventually adjust to the reduced hashpower

the worst they could do is attempt double-spends, but its pointless because they would be killing the golden goose

I don't know but it's something that should be thought about more. I think it's really silly to just push aside this as china fud or whatever maxis like to think of it as. The CCP has already proven it has no problem with taking over big companies through force and forcing them to overturn data, take out people who are becoming too "big" like jack ma and that other guy who wrote a hit piece on Xi.

>>25772684
See you in KLEROS COURT, China.

>>25772684
Jesus people don't even understand how mining even works anymore, literally go google "how does blockchainwork" and read some wiki articles

>>25773413
>that other guy who wrote a hit piece on Xi.
Oooooooooooooo bad move

>>25773413
you don't understand what's happening with geopolitics if you thin China wants to take down btc

>>25772684
>>25773292
>>25773328
>>25773362
yeah
my take on it is that china will use btc as a way to drain capital from the US and put worthless bitcoins on the balance sheets of US institutions and then they will rugpull btc and enforce the gold yuan
chinks know that btc is extremely vulnerable and that no serious wealth should be stored inside it
but before then we going to $1 000 000

>>25773416
A U.S. vs China kleros kase might actually persuade me to stop day trading and use the Kleros system

>>25773362
This. Also the ccp would have to make concerted efforts to simultaneously raid all the farms in their territory without information of the raid leaking to the miners. Otherwise miners would likely hide or destroy mining equipment in order to preserve profits

>>25773502
Dont know about that

when we get into the six figs per coin we might see sovereign mining operations . this will spur on development of new energy technology as nation states try to get more hashpower.

we may even see wars fought over hashpower in the future

>>25773362
BTC aids capital flight from China

>>25773502
This is some really retarded and short-sighted thinking here. This is why you're a fag in a basement and not leading a country to victory right now.

>>25773564
As soon as word gets out globally that they're raiding miners then the price would likely tank, setting the crypto market back years and giving usa time to breathe. it really makes no sense for them to pursue this

>>25773579
for sure

but I think taking down usd is higher on their priority list than cockblocking some of their citizens from fleeing the country

>>25773362
This.

It's not like miners can make arbitrary transactions. They can attempt double-spends but this would be stupid as you'd stand to gain much more by keeping the network healthy and mining new coins.

>>25773623
Yeah I know price would dump like mt.gox event but also unless it was done simultaneously miners would begin selling that shit of moving them into SEA regions. As a last resort they might sabotage some miners to ensure a 51% is impossible

>>25773568
building semiconductor foundries costs billions of dollars, takes decades and requires an enormous talent pool which is why almost all foundries in the world are located in east Asia, mainly China, Taiwan, South Korea and a little bit in Japan
the rest of the world is basically empty and don't have the talent or capital to build foundries

also should keep in mind that China doesn't even need 51% of the hash rate
there was a study a while ago that pointed out the fact that a determined attacker might just need 21%, the attacker could use dump his btc, lowering the price, forcing commercial miners (who need to be profitable) out of the game and slowly growing his initial 21% to 51% without actually acquiring more mining equipment

take a look at my picture, notice anything? why do you think they are so determined to take Taiwan? the sightseeing?

>>25773618
>destroying competing currency is retarded

>>25773736
>SN1
>Planned
>Not in construction
Safu?

>>25773849
nope
bitcoin and the West is unequivocally fucked
China will take Taiwan and then the West would need to climb a $200b wall, decades of research and building to even begin to compete with the chinks in semiconductors

>>25773849
>>25773993
thing is that if we had never allowed our corporations to export all our jobs to a communist country none of this would have ever happened
we could've have a healthy middle class and control all the foundries on the planet but capitalism falling prey to communism got in the way

>>25774076
The U.S. was never going to repay its debts. Good riddance.

>>25773736
How is this not a legit threat?

>>25774219
>The U.S. was never going to repay its debts. Good riddance.
don't think anyone actually thought they would
chinks and russians just bought the debt to get something to threaten the the dollar with
the nips bought it because they are terrified of the US and are basically just a vassal state
I might see the US defaulting on it's debt to China as a part of a corona bill
"you created this virus and destroyed our economy, we will charge the cost from the debt.."

>>25774336
no one will give you an answer because no one wants to face the fact that we are fucked

>>25773736
>>25773736
If what you mentioned happens and CCP confiscates miners and starts censoring transactions, there will be a Bitcoin fork.

There will be two chains:
> CCPChain
> FreeWorldChain

Over time people will vote with their money which chain wins.

Forks are a feature of Bitcoin, not a bug.

It will be messy and create a lot of confusion, but Bitcoin will survive.

We already have a precedent with it - Bitcoin Cash. And look where Bitcoin Cash is now.

>>25775051
>chain forks
>chinks mine new western chain
you do realize that there is no way of blocking a miner right?

>>25775096
Chinks won't be able to mine if the western chain changes the mining algo.

Chinks will rugpull BTC and all the money that was paid from the US to the citizen as a stimulus check will move to CHINA meanwhile the US didn't profit at all because people have not spend it in their economy. This is pretty smart from the chinese.

>>25775729
this

>>25775762
high IQ anon confirmed

>>25775729
How will this "rugpull" actually happen? How will chinks pull it off?

>>25773736
This is quite sobering, how could we have let this happen? This is so much worse than in the 19th century when only Britain had access to high quality steel rolling that took everyone decades to reverse-engineer before they could match them industrially.

>>25773736
Why do white people think they produce everything of value when its actually the yellows that do it and have the talent to do it?

>>25776198
ask 习近平 i can't give you any further information

>>25776282
All of these facilities being located in Taiwan and China isn't because the Chinese and Taiwanese created and innovated all this technology; it's because it's cheaper for Western manufacturers and investors to build facilities in those countries. Go look up the history of semiconductor design and you'll see a bunch of Westerners, a few Japanese, and a couple Chinese-Americans. You will not find a single person innovating in the field who was born and spent their entire lives in China.

>>25776359
sorry, I don't know hieroglyphs. You say "rugpull", but how can we be sure you are speaking the truth, when you refuse to elaborate?

The same I could say "US gov is about to do rugpull on Bitcoin, but I won't say how". Would you trust me?

>>25775505
yes they will
the chinks just have to change mining algo as well
there is no way of preventing someone from mining a public chain you dimwit

china tried to be the usa of asia with their silk road projects or whatever name its got now
not even 4th world shitholes would trust the yuan
however even 2nd world nations like iran are now adopting btc as its trustless nature is quite usefull
china will use btc and their massive production capacity to become the new hegemon of asia like the usa adn the dollar was of the atlantic trade area in the past century
maintaining trust in the btc network is very much pro china and with the biden win china is rising while the us will go down in infighting

even with full control of the mining network china can't make decision they can't enforce censorship they could only crash the price hard and force a hardfork but then they lose another flawless victory against the us so why would they

>>25772684
i mean it would tale about 3 weeks for miners to get "privatized" again and seep out of that corrupt shithole

>>25775505
>>25775505
>>25775505
Seems like CCP controlling BTC mining ends here. Nobody has refuted the argument about BTC forking with different mining algo to BTFO chinese miners. If there is no rebuttal to this, then China miners theory is not a threat.

>>25776228
Please read the post that answers it.

If this happens there will be a "western fork" with different mining algo that will render Chinese miners useless. They will be able to mine the previous fork and two Bitcoin forks will coexist until free market decides which one they want and votes with their money.

Bitcoin working as intended. Not a threat. (unless someone can debunk point I made just now)

>>25773736
>there was a study a while ago that pointed out the fact that a determined attacker might just need 21%,
that was total bullshit tho but you are free to try it out on one of the bcash forks for peamuts

>>25776826
> the chinks just have to change mining algo as well

How?

Look.

Chinese concentrate all mining power to mine BTC.

West decide to fork BTC with different algo that doesn't work on Chinese miners.

So Chinese miners can keep mining the old chain or they can start constructing new miners that will be able to mine the new chain. But that wouldn't require a lot of investment and money and they would need to compete with west again and start from 0, so there won't be any real advantage. The billion dollar mining businesses will go bust if the free market decides they want the "west Bitcoin" not the "CCP Bitcoin" and votes with their money (like they did leaving BItcoin Cash).

Why am I wrong?

>>25776855
thats the last resort and it would be a black day when bitcoin abandons the nakamoto consensus. but sure the ledger would live on. possibly multiple forks tho.

>>25772684
In a situation like that what's to stop people using ordinary computers to mine bitcoin? Yes, it'd be incredibly inefficient and unprofitable, but if enough people did it, wouldn't it stop Chinese miners from being the majority?

>>25777002
don't be stupid a pc could do megahashes a bitcoin miner unit does terrahashes and there are warehouses full of them about half the size of a pc

>>25776228
>>25776282
bourgeoisie hatred for the working class and wall street greed
the upper classes would rather see the working classes get hooked on opioids and die from overdoses than see them working in factories and building themselves up to middle class
wall street just wants cheap labor to increase their profit margins
>>25776910
>West decide to fork BTC with different algo that doesn't work on Chinese miners
where will you get this massive supply of new application-specific integrated circuit miners from? China? Taiwan?
you would need to somehow source a large number of these new miners in secret and have them prepared to go online by the time the chinks rugpull btc
also keep in mind that regular graphics cards, of which they chinks have more than us, can be used to mine just about anything but with less efficiently
also, the chinks could outproduce our new ASICs whenever they want

crypto is just not a stable and safe system for storing value
it's good for transferring value if you're willing to take some risk but nothing else

>>25773623
Power is cheap in other parts of the world. I see hash rate dropping temporarily but others would crowd in because of the profit incentive, as designed

>>25772684
What you are talking about isn't paranoid schizo talk, it's a very real concern, and I'm almost certain our friends at Chase and JP Morgan discuss it just as well.
I think in the future bitcoin will be at the center of geopolitics, instead of countries exchanging their fiat they will exchange bitcoin mining tools/rights in exchange for favor. Imagine instead of China selling roads and shitty buildings to africans in exchange for UN votes they trade them crypto mining tools? I could honestly see this happening as Bitcoin takes over USD as the world reserve currency.
It's a very real, China is attempting to replace the USD with Yuan as the reserve currency. Although they may be entirely too late, and this could be why American banks are so gungho about Bitcoin all of a sudden, perhaps they realize how fucked everything is in the long term and think that BTC is their only hope at fighting Chinese banks which will soon have brick and mortar locations on US soil thanks to the democrat party.

>>25776855
>blocks the CCP's path
He's training his 7 children to be righteous Bitcoin Core devs who will resist the CCP too.
>>25777104
What about a CPU optimized algo like RandomX?
Doesn't the USA have more CPU and GPU power than any other country?
I imagine the NSA has epic computing clusters for cracking passwords and analyzing the massive amounts of data they collect.

>>25777104
>crypto is just not a stable and safe system for storing value
>it's good for transferring value if you're willing to take some risk but nothing else

>Monero uses RandomX, an ASIC-resistant and CPU-friendly POW algorithm created by Monero community members, designed to make the use of mining-specific hardware unfeasible.

>>25772684
>Chinese miners still control majority of Bitcoin mining
This tired fud has been debunked numerous times. They control the pool hosts not the every miner on that pool. Americans and Euros use those pools. Soon as China tries to rewrite blocks they all ditch and start another pool. Its just easier to piggy back off existing pools, especially with antminer/asic tech monopoly by bitmain.

>>25772684
Governments can run things efficiently even communist China. This is why this makes no sense. It’s the reason they’ve allowed limited private sector

>>25777649
has anyone actually even manage to proof that it is even possible to give accurate geographic data and the constituent parts of a pool

estimates on efficiency are not definitive proof

>>25777638
>>25777644
basing a financial system on the utopian idea of equally distributed computing power is insanity
we are equal in nothing and someone always ends up top dog
with that said I still own .3 btc for good gains and its epic value transfer functions
but I have no delusions about it replacing gold

>>25777803
yes but the data is only partial. only like 37% of the miners agreed to provide geographic data.

>>25777803
No idea but even then it doesnt matter. If there is a double spend bitcoin goes back to the block previous to the double spend and resumes there. Bitcoin is whatever chain people want it to be. Hence bitcoin cash never became "bitcoin" because people never accepted it as bitcoin but as bitcoin cash.

>>25777881
depends on what will be the deciding factor in mining cost electricity or hardware.
if hardware is the smaller cost mining will get more distributed if hardware is the bigger chunk mining gets more centralized.

>>25777939
>If there is a double spend bitcoin goes back to the block previous to the double spend and resumes there.
nope that shit will never happen but double spending btc is pretty much impossible.

>>25777957
the West is putting all its money into solar panels and windmills
chinks are going full force on nuclear
wonder who will win...

>>25778017
>wonder who will win...
Considering China's track record on industrial safety? They can't even manufacture fireworks or volatile chemicals without factories exploding, and you think they can safely build and maintain nuclear reactors? Even the Japanese fucked it up.

>>25778017
all the energy we harness comes from nuclear fusion one way or an other. fission plants use fuel produced by nuclear fusion in other stars. wind hydro and solar all use our own sun which is the real reactor.

>>25778017
We let our econuts dictate policy thats why. Environmentalists are almost all anti-intellectual. They think nuclear bad so we cant get to use it.

>>25778091
and of course plants use solar energy to harvest co2 from the atmosphere and turn it into complex carbohydrates that turns into fossile fuel over time.

so even gasoline is energy stored from nuclear fusion.

>>25778110
it's all about where do you want your reactor? in your back yard or 1 astronomical unit away?

>>25778162
You can put it next to all the windmills and solar panels, the middle of the desert in Nevada/Arizona or an empty field in the windy corridor of the midwest. Nuclear and geothermal are the two best bets for actual useful energy generation that doesnt waste land.

>>25777916
>37%
so thats a strong no then
its all guess work and source: dude trust us

>>25778091
japs fucked up nothing
they were hit by a massive tsunami and they quickly contained the situation -- 1 person died from cancer and now you can walk around fukishima with no risks at all
fukushima has lower radiation levels than you get on an airplane
>>25778091
>>25778110
>>25778162
>EROI Nuclear power: 315
>EROI Photovoltaics: 12 (Germany), 21 (Southern Europe)
>https://en.wikipedia.org/wiki/Energy_return_on_investment
green energy
nuclear energy is the safest form of energy
as I said - only one person died in Fukushima and he died from cancer

>>25773413
It’s decentralized. If China will become a thread Bitcoin will fork of to a non-China Bitcoin and reasonable people will switch.

Bitcoin will always succeed because decisions lie on the shoulders of users.

>>25778253
>green energy is chimp tier technology***

>>25778253
m8 you don1t have to convince me i'm just saying in the end it's all the same shit. but getting a russian power plant especially these new line rushed production garbage tier ones is a big mistake.

>>25773502
>t. Has no idea how Bitcoin actually works

All these newfags and tether astroturfers are really shitting up the board.

>>25778264
jesus..
do you people know anything about crypto at all?
YOU CANNOT BLOCK CHINA FROM MINING AND TAKING OVER A PUBLIC CHAIN
"forking to a non-China Bitcoin" is impossible because the chinks can use their hash to mine whatever the fuck they want and the longest chain is always the chain that bitcoin chooses

>>25778253
>nuclear energy is the safest form of energy
It is, looking at all data its perfectly safe compared to any energy generation method. But normies watched Chernobyl and are scared of things they cant understand, such as nuclear physics.

>>25778307
>Has no idea how Bitcoin actually works
please tell me where I'm wrong

>>25778354
>put worthless Bitcoins on the balance sheet of US institutions

This is not possible in any scenario

>>25778379
>buy bitcoin
>put on balance sheet
>chinks block transactions on network and double spend using 51% attack
>bitcoin is worthless

>>25778224
you know when chernobyl happened most of the secunder contamination fell to northern europe far far away right? and fukusima contaminated the entire fucking pacific ocean where your fish comes from.

>>25778083
>Even the Japanese fucked it up.
They fucked up because they didn't anticipate a giant tsunami hitting the reactor. The chinese can plop down their nuclear plants in the middle of the country where literally nothing ever happens and they will run undisturbed forever until they explode.

>>25778465
Don’t backtrack now dumbass. China cannot put Bitcoin on anybodies balance sheet and a 51% attack would hurt China far more than US companies right now. Very few US companies have Bitcoin on the balance sheet and if they do its very small exposure, outside of microstrategy which is irrelevant to US business. China couldn’t even effectively doublespend. They don’t have >51% of hash power located physically in China. Pools can easily divert hash, you cannot count them.

>>25778485
>industrial accident bad
>we should abandon technology and return to primitive living to avoid it happening again.

>>25778317
there are a couple of things to understand:
1) even if you have 51% hash you still can't break the ruleset of bitcoin or you fork yourself off
2) mining pools sot $0 to set up and to switch between
3) we don't actually know the exact geographic distribution of mining power we only have partial data and much speculation
4) mining power can be moved easily if state control becomes oppressive
5) china will not stop exporting electronics especially not if this action makes those electronics worthless bad for gdp
6) if the mining algorithm is changed all of the existing bitcoin hashing power becomes mostly worthless overnight. asics can't be repurposed.
7) bitcoin can be changed to a hypbrid algo even. which means it keeps current hashing algorithm for network security but allows some blocks to be mined with asic resistant gpu algos which makes censorship impossible.
8) global consensus is stronger than any communist regime on earth
9) the honey badger doesn't give a fuck
10) you missed out bobo

>>25778592
i never said that i'm very much pro nuclear. and explained why. i just said the people that don't want to have a nuclear plant in their backyard have a point. historically proven point.

>>25772684
lol. if CCP owned the miners directly US mining pools wouldn't be allowed to trade with them and would just refuse to certify their blocks. China is then cut out entirely.

>>25778651
and yes some people consider the entire planet their back yard. like that greta girl.
i personally think fusion could be the real solution it can't really have a runaway reaction because the moment the containment field breaks the moment the fusion stops. it also needs continuous injection of fuel to keep up.
the same runaway reaction you find with fission rods is hard to imagine.

there are however huge problems with fusion when it comes to shielding and waste management. the neutron radiation is so hard it turns everything near it to a radioactive isotope over time.

>>25778539
oh dear god you autistic fucking nigger tard
you actually thought I meant that china would go in and force US companies to put btc on their balance sheets?
no one know the exact distribution of physical hash
theres already been a study talking about how you may not even need 51% since a determined attacker can just dump the BTC they mine on the market, lowering the price and forcing commercial miners to shut down, growing their share of the hashrate without actually physically expanding their mining operation
>>25778599
>even if you have 51% hash you still can't break the ruleset of bitcoin or you fork yourself off
you can still block transactions and double spend
>no one can send btc
>thousands of btc gets sold on exchanges and then come back to attackers wallet who sends it to exchange and sells again ... and again .. and again

>actually know the exact geographic distribution of mining power we only have partial data and much speculation
true
>mining power can be moved easily if state control becomes oppressive
no - moving entire factories of ASIC miners in a state as oppressive and surveilled as China is not easy
>china will not stop exporting electronics especially not if this action makes those electronics worthless bad for gdp
China cares more about control and protecting their own currency than they do about the relatively tiny business of BTC and ASIC producers
that's like saying the US wouldn't bomb the shit out of Gaddafi after he announced the gold dinar because that would hurt US gold miners by keeping gold prices low
countries care more about their currencies than anything else
>if the mining algorithm is changed all of the existing bitcoin hashing power becomes mostly worthless overnight. asics can't be repurposed
and what will you switch to where China can't keep up? we produce nothing
>global consensus is stronger than any communist regime on earth
no, power always shifts to the producer and China is the largest producer on earth

>>25778673
doubt it until the chinks try to break the rules no node would reject their blocks. not how the nakamoto consensus works.

>>25772684
Nope not safe all all.
They control well over 90% of mining (pic is old)

>>25778823
>you can still block transactions and double spend
you can block transactions theoretically and temporarily but it would be extremely difficult to enforce this. and there is no profit in it at all.
double spend again is not profitable. and not something states typically engage in.

you are imagining too much give a fuck about bitcoin from china it's insignificant to them. and they can't really kill it if they try they just make it stronger in the end and lose face.
>and what will you switch to where China can't keep up? we produce nothing
let's just say switching an algo costs almost nothing compared to any state action. just as changing a crypto algo or increasing bitsize costs nothing compared to attacking it with quantum computers.

states can't win against global consensus. if they could we would live in a different world.

>no, power always shifts to the producer
not how cryptography or distributed consensus works. sure they can painstakingly develop and mass produce a new asic and it would cost them dearly and it would cost us nothing to flip them off.

the dump bobos predicted since 15k took us down from 34 to 32k

China banned bitcoin in 2017. Back then, chinese holders sold their positions, and mining companies moved out of the country (some still stayed, though, and had to play ball with the CCP). The price tanked for two weeks, and people thought everything was lost. This was during the BTG fork.
In 2018, China attempted to shutdown everything again. Price didnt moved a single bit. Nobody cares anymore.

So you dont need to worry about it, newfag. It already happened, and the effects are smaller when it repeats.

>>25778823
That is literally what you said. Also, dumping 450 BTC per day? That won’t do shit to the market LOL. Grayscale and Paypal alone are buying a combined 4,000-12,000 a day and have been for months.

>>25778852
they don't and you can extrapolate how much they could own from different factors including electricity prices. china is not the cheapest to mine bitcoin in for a good while. we had a long bear market also which forced miners to optimize. in a bull market when the new hardware dominates chinas share of hashrate will temporarily increase then it gets more distributed in a bear market.

>>25777501
Eventually the international banking cartel probably want the future reserve currency to not be bound to any country.

>>25778837
its not an option. Executive order this week. Those dudes running the pools would be put in jail.

>>25779008
>and there is no profit in it at all
I've already explained this
the profit is in killing the competition and if too much capital flows into btc it might not even be about just profiting, it might be about basic survival for the national currency
>just as changing a crypto algo or increasing bitsize costs nothing compared to attacking it
you do understand that you can't just switch algos without having something to mine it on, right?
no matter what you decide to mine your crypto on China will always have the advantage because they have all the semiconductor foundries
>switching from one algo to another
>china does the same
>switch to another algo
>china does the same
there is no escape as long as china has such a massive advantage in the physical production of hash
>not how cryptography or distributed consensus works
yes it is - he who controls 51% of the hash controls the blockchain
>sure they can painstakingly develop and mass produce a new asic and it would cost them dearly
and what would it cost those who try to protect the blockchain? you're forgetting that for you to switch to something else you also need to spend a shit ton of cash on new equipment
when you switch algo EVERYONES equipment becomes trash, even the honest miners equipment

>>25779094
the thing is chinks are not stupid.
they see bitcoin miners and bitcoin itself just an other product they would export if it adds to their gdp.
the one thing they don't actually want is chinese citizen protect their wealth from devaluing juan en-masse via bitcoin. and to that end controlling gateways is more effective efficient and cheaper than fucking with miners.
one thing the chink government may step on is the massive amount of electricity stolen from plants and illegal hydroelectric plants used by some miners.

>>25772684
if bitcorns becomes a stable asset that the ccp is interested in manipulating, its reasonable to assume other states will be interested in it as well. any state that extracts money from its populace can effectively become a bitcorn miner for "free" and if china is interested its reasonable to assume other states would be interested as well. multiple states will likely end up with large shares of the hashrate and try to control it. i think you're right that it could be a concern that chingchongs will have a window of opportunity to fuck around though.

>>25779181
pools cost $0 to set up or change between as i explained earlier. the geolocation of miners could in theory matter but it won't.
>>25779191
>I've already explained this
you mean spouting baseless fud and speculation about the intent of people you know nothing of? yeah
>the profit is in killing the competition
bitcoin is no competition to the chinks. and hurting the us would hurt them more because it's their main export market. stop being so damn shortsighted and look at what makes them actual money.
compared to what they can do with the us treasury bonds they hold bitcoin can't even fucking register on the screen it's so tiny and insignificant.

>>25779191
>yes it is - he who controls 51% of the hash controls the blockchain
not really no. the protocol can't be changed unilaterally.

>>25779191
>and what would it cost those who try to protect the blockchain? you're forgetting that for you to switch to something else you also need to spend a shit ton of cash on new equipment
>when you switch algo EVERYONES equipment becomes trash, even the honest miners equipment
that is why i said btw we would most likely switch to hybrid mining. like every 5th block is mined with an asic resistant gpu algo. gpu mining power is very well distributed. bitcoin reorg protection would still benefit from the massive hashing power of asics but you could no longer centrally censor the blockchain as your chain would be illegal and split off if you tried.

>>25778274
Yea but all the scientists and experts have been warning us since the 1970s that the planet is warming and cooling and we are all in grave danger.

>>25773756
Iraqi dinar? Explain?

>>25779311
if you go to jail because you are mining off a CCP chain. you will refuse to mine that chain, and issue your own block. this will become more common as the miners cartel consolidates into power players and trust is hoisted on this trustless system

>>25774460
>I might see the US defaulting on it's debt to China as a part of a corona bill
"you created this virus and destroyed our economy, we will charge the cost from the debt.."

Not under Biden, Trump maybe but not Biden. Too cucked for that

>>25779839
local governments can't win against global consensus
it's just not possible

>>25779839
what you are talking about is bitcoin becoming increasingly permissioned. not losing it's trustless properties. bitcoin would only lose it's trustless properties if the nakamoto consensus gets broken. and you can't break the consensus with a 51% attack.

>>25778017
The west lost its soul after ww1 and has currently embraced cultural nihilism. The Chinese seem patriotic and don't suffer from the same retarded self hatred

>>25778485
Do you know where the US did all the secret nuclear testing, or are you just retarded?

>>25773579
half the ccp stand to benefit from precisely this.
the other half are just not elevated enough yet or are military guys

>>25780169
what is the last 80 years? a cartel of "local governments" enforcing their will. consensus plays no part in geo politics. only power and might do.

>>25780376
little baby's first troll attempt?
nuclear explosion has absolutely nothing to do with plant failures. in human history nuclear explosion never happened in a power plant.

>>25780318
>bitcoin would only lose it's trustless properties if the nakamoto consensus gets broken
thats exactly what i'm saying not even hard to do. just remining the last block and having your miner friends use that block instead until you have longest chain again.

>>25780558
in 2021 you people have still no clue what bitcoin is. amazing. stay out don't ever buy it will always be too expensive. you will always find fud to justify you sitting on your hands.

>>25780607
nah you don't get it let's discuss this shit in a year and you learn some about the protocol how about that?

>>25772684
Miners whop are making a lot of money will be aware of potential threats to their assets and will act accordingly and likely already are, moving facilities to friendly territories

>>25780664
I own 10 coins. The fact this can happen just makes it stronger. still buying coin.

I'd imagine other countries would start their own state-backed BTC mining to steal the Chinese monopoly (if this wouldn't have happened already)

>>25772684
absolutely yes.... it would be bullish news for the amount of bitcoin minted would go down and possibly lots of already minted bitcoin would be confiscated and lost.... this will cause a supply squeeze larger than the usual one that causes the bull cycles... this is bullish news.

>>25780918
that's good and yes we can drop 50% out of the blue happened to me and worse many times.
my longs have a stop in profid otherwise i don't care.
expectations and narrative about bitcoin changed much more along the years than the protocol itself. i just sometimes wish the fud would evolve as well. boring shit.

>>25772684
yes everything will still be ok. The reason is you can run a miner from your house, btc is not designated to anyone. Although most miners for btc are out of ccp we can still mine here in other countries. CCP may already have their paws in the jar.

>>25778224
fuck nuclear, my wife was born in France in the 90s and has health issues due to radioactivity leaked from Chernobyl. Russian's were the top minds in nuclear technology and even they fucked it up. China will surely fuck it up and doom humanity.

ITT: people who don't understand that bitcoin will move to PoS. ETH2 is a test and if successfull, bitcoin will follow.