China can make BTC go to $0

[Anonymous No.25962806]

Chinese miners control 70% of the hash power used to riddle the mining game and control the network.

You know a 51% attack can just be used to force transactions from inactive/lost wallets into your own. Nobody would suspect anything if it's done properly.

>hey bro our network just confirmed a 1M BTC transaction from satoshi's wallet
>oh really?
>yes, the majority of the network agrees

TLDR: If Xi issued an executive order to seize all bitcoin mining in China he could nationalize it like he did Alibaba in one second. Nice investment you go there, bitcucks.

[Anonymous No.25962831]

>>25962806
Incentives.
Understand, incentives.

[Anonymous No.25962835]

>>25962806
why should chinks fuck their business to steal some shitcoin?

[Anonymous No.25962893]

>>25962835
Brainlet stop thinking in extremes. They can just slowly drain tiny amounts of BTC from random unused wallets and take profits until people notice what's going on.

[Anonymous No.25962959]

>>25962806
You're dumb.

The chain would be invalid, no full node would accept it. It would be ignored by the community, rendering the ill-gotten coins worthless and the attackers would have wasted 100k's in miner fees trying to pull this off.

You don't know shit about btc or basic game theory.

[Anonymous No.25962986]

>>25962806
retard does not understand bitcoin. my node will never accept blocks with invalid signatures no matter what chink mined it you retard

[Anonymous No.25962998]

>>25962806
what is, decentralization
what are, bitcoin nodes

[Anonymous No.25963005]

>>25962893
you don't seem to understand how a 51% attack works

[Anonymous No.25963028]

>>25962806
>You know a 51% attack can just be used to force transactions from inactive/lost wallets into your own
No it can't. You're a retarded faggot kill yourself.

[Anonymous No.25963040]

>btc 51% attacked
>they steal some million of shitcoins
>everyone realize that
>the day after btc drops 50%
>they lose a shitload of money

[Anonymous No.25963069]

>>25962806
This is why we accumulate Fuse.

[Anonymous No.25963082]

they can only block transactions / all transactions or double spend with a 51% hashrate.
and if they would do it there would be a fix available soon

[Anonymous No.25963137]

op eternally btfo. commit sudoku faggot

[Anonymous No.25963142]

>>25962959

If Xi want to get back control for the hydro power wasted by BTC to do something productive instead,,,

right now the MWh are completely wasted. They cost x to generate, and only get back 2x in BTC (much less actually because asics depreciate). If they used it to make products they would get much more back. It is not BTC against no alternative, it is BTC vs making something productive.

[Anonymous No.25963226]

>>25962806
>You know a 51% attack can just be used to force transactions from inactive/lost wallets into your own. Nobody would suspect anything if it's done properly.
this is not the way it would work retard. Every fucking miner would see it.
They would execute a double spend attack. Read the fuck up on how BTC works.

[Anonymous No.25963247]

>>25962806
You remember the 40 BTC moved from Satoshi's wallet yesterday? They were just testing it.

[Anonymous No.25963260]

>>25963142
What the fuck are you talking about?

[Anonymous No.25963298]

young xi is kinda cute

[Anonymous No.25963376]

>>25963005
That is exactly how it works. Transactions are confirmed by the network via majority consensus. If the majority says 1 BTC has been transferred to my wallet by a random wallet, then I now have +1 BTC.

[Anonymous No.25963386]

>>25963142
They don't care about electricity costs. The target is to kill USD.

[Anonymous No.25963426]

>>25963376
>>25963040

[Anonymous No.25963568]

>>25962806
I dunno why but that pic gives me lynch vibes like pic related

[Anonymous No.25963600]

>>25962806
So? They could crash the U.S Dollar as well, the question is... why would they do that?

[Anonymous No.25963634]

>>25963142
BTC mining, at least in Sichuan, uses surplus electricity.
Sichuan grid is future proofed and products about 50% surplus.

[Anonymous No.25963641]

>>25963386
This.
This.
This.
First level thinking: BTC is really going up in USD
Second/third level thinking: The USD purchasing power is decreasing rapidly. In particular, against desirable real estate and assets.

[Anonymous No.25963650]

>>25963376
No.

51% attacks allow you to double-spend by outpacing the OG chain and "rewriting history" by never sending those btc out. This works because when there is contention over which among VALID chains is the "real" chain the protocol uses the longest.

A 51% attack does NOT allow you to just arbitrarily make changes to balances as doing so would result in an invalid chain - it would be rejected by literally every full node on the planet and never be accepted by anyone.

[Anonymous No.25963693]

>crash it with the exact same China FUD

Can't you people come up with anything new? If you're going to fud don't recycle the same shit from 4 years ago

[Anonymous No.25963825]

>They think Xi cares about miner profits if he can use Bitcoin to influence geopolitics

[Anonymous No.25964039]

>>25963641
>this, so much this
go back to plebbit faggot

[Anonymous No.25964188]

>>25962831
>Incentives.
yes, like protecting your own national currency

[Anonymous No.25964246]

>>25963426
>>25964188

[Anonymous No.25964491]

>>25962831
>>25962835
>>25963142
>>25963825
>"Gaddafi made a similarly bold move: he initiated a movement to refuse the dollar and the euro, and called on Arab and African nations to use a new currency instead, the gold dinar. Gaddafi suggested establishing a united African continent, with its 200 million people using this single currency."

[Anonymous No.25964496]

>>25964188
Yep, that's way before USA natty debt of 27 trillion + 2-3 more coming soon..
Unfortunately for the USA, the USD hyperinflated in real assets within 9 months, last year. 15%-100% in desirable real estate and assets. CPI doesn't measure that hence no inflation.
This is why the whole 'you will own nothing and be happy' line is being touted in Europe. Their youngest, most productive folks who are currently starting college will own nothing in 2030. Unable to come up w/ a downpayment for a home, etc.
That's what printing $ does in the long term.
China has many, many incentives to not shutdown bitcoin mining.

[Anonymous No.25964639]

>>25962959
>>25963142
These.

[Anonymous No.25964777]

>>25964496
you don't seem to understand
nations only want two things - the supremacy of their own currency and gold, this was proven when the IMF along with Jelle Zijlstra pushed SDR and tried to demonetize gold
the chinks are no different and will not allow bitcoin to drain capital from the Yuan
they will use it as a weapon against the dollar but once the dollar is in the trashbin of history they'll throw in bitcoin right with it

[Anonymous No.25964855]

>>25964777
Smart anon

[Anonymous No.25965182]

>>25964777
Traditionally, this is how it played out w/ gold.
BTC is decentralized and comes packed with game theory.
Who's the target or CEO?
You lost.
Hence:
https://www.forbes.com/sites/nicholasgans/2021/01/13/anchorage-digital-bank-becomes-first-federally-regulated-digital-asset-bank/?sh=593ea4e2e5bc

[Anonymous No.25965237]

>>25965182
>Who's the target
the network

[Anonymous No.25965248]

>>25963376
imagine having such a poor understanding of cryptographic signatures in 2020

[Anonymous No.25965370]

That will crash it but without china other countries can win more blocks and as soon as that starts happening more and more people from outside china will join in the mining. it would go from a mostly china thing to a world thing

That's a much better foundation for it and would attract institutional investment.

with the rest of the world benefiting more from bitcoin, it will skyrocket faster than it has ever done before

China banning bitcoin is what bitcoin needs

[Anonymous No.25965461]

>>25965237
That's not what is actually happening in the real world. USA is opening up more, and more each month to digital assets.
Fidelity, microstrategy...
head of OCC writing in support about DeFi in the financial times:
https://www.ft.com/content/c1caca5b-01f7-41be-85a4-3ecb883f2417
...
but you know what, I'm sure this is all just a fad!
Good luck.

[Anonymous No.25965467]

>>25963040
you forgot
>someone else forks bitcoin
>fork quickly equals the former market cap of bitcoin while original bitcoin bleeds to pennies

[Anonymous No.25965520]

>>25964777
*they will be a willing idiot to Bitcoin in defeating the current strongest fiat currency, at which point it will be too strong for Winnie The Pooh or his successor to stop.

China mines
>they lose
China doesn’t mine
>they lose more

[Anonymous No.25965644]

>>25963825
bitcoin hurts the usd more than any other currency, so i would think he would want to protect it.

[Anonymous No.25965651]

this is actually quite bullish on BTC not going to lose my time elaborating to a 50 IQ anon

but smart money is accumulating the fuck out of BTC right now

[Anonymous No.25965713]

>scam entire market
>now have a market that no one will participate in

[Anonymous No.25965730]

>>25965651
>but smart money is accumulating the fuck out of BTC right now
No, theyre buying precious metals, you fucking mongoloid.

[Anonymous No.25965736]

>>25962806
Such fud, much Xi
This post just made me realize that the Chinkies want my BTC, and probably my linkies too.
FUck of Xi-pingpong, you cant have.

[Anonymous No.25965760]

>>25965461
cope

[Anonymous No.25965844]

>>25965461
>>25965520
decentralization should be relegated to the same shelf as Santa Claus and Arcadia
only children and the imbeciles believe anything can ever be equal and distributed
men know life is defined by inequity and competition - and with that someone always ends up top dog

[Anonymous No.25965931]

>>25965844
>decentralization should be relegated to the same shelf as Santa Claus and Arcadia
You crack me up, anon. Go back to your desk and work, now.

[Anonymous No.25966035]

>>25965844
>Decentralized nodes
>All of them centralized in China
What could go wrong? Take out a mortage and sell your house for BTC. I'm sure XI cares about the health of Satoshi's node network lmao.

[Anonymous No.25966291]

>>25964491
China is aligned with the central bankers, they de industrialised the west and sent them our jobs, they also sold them US military tech and financed their Maoist revolution and then there's the covid scam and the state orchestrated fakery that was "organically" leaked to create credibility for their plandemic

[Anonymous No.25966430]

>>25963634

There is no free meal, no free electricity. Electricity is not in "surplus". It's not like you can't make electrons travel long distances with power lines...

[Anonymous No.25966477]

>load ze china fud
2017 is calling.

[Anonymous No.25966664]

>>25964496
>USA, the USD hyperinflated in real assets within 9 months, last year. 15%-100% in desirable real estate and assets
no.. just make me an example... I can't see house that high in price

[Anonymous No.25966975]

>>25964496
>Their youngest, most productive folks who are currently starting college will own nothing in 2030. Unable to come up w/ a downpayment for a home, etc.
so buying house is a good investment

[Anonymous No.25967035]

>>25966975
https://www.bloomberg.com/news/articles/2020-07-16/to-fill-vacant-units-barcelona-seizes-apartments

[Anonymous No.25967714]

>>25966664
>>25966975
>the USD hyperinflated in real assets within 9 months, last year. 15%-100% in desirable real estate and assets
Keyword "desirable" real estate will continue to inflate at a higher rate than a fresh grads salary from a top school due to all the money printing that already occurred in 2020. Young higher performers will now be priced out of "desirable" real estate by 2030. It's already in the cards. CPI does not measure real estate or asset prices.
I'm not talking about a normie cuckshack in podunk, USA. I'm not talking about the normie that seeks a "perceived low risk flight to safety" (You). A normie house is not a good investment, normie. At best, it's a depreciating asset and a lifestyle choice. The absolute worst choice for a single man.
Homes are now what make rich people, rich, anon...

[サトシ・ナカモト No.25967920]

サトシ・ナカモト

[Anonymous No.25968040]

>>25967920
kys weeb

[Anonymous No.25968052]

>>25967714
Homes are *not* what make rich people, rich, anon...
big ass typo...

[サトシ・ナカモト No.25968933]

>>25968040
soon

[Anonymous No.25969164]

>>25962806
China wants to become the new global super power.
To do this they have to destroy the $ reserve currency status.
Bitcoin helps to do this be being an alternative that can siphon away the money from the $.
All it takes to kill a reserve currency is for people to decide to sell it for something else.
It can be gold, housing and bitcoin.
Bitcoin becoming stronger helps strengthen China because it weakens the $.
Only after the $ is destroyed will China want to force people to switch to their gold backed currency and may try to attack Bitcoin if it's too strong.
But we will already have made it when that happens.

[Anonymous No.25969314]

They could also start firing nukes, but they won't. Your mom could burn down your house leaving you homeless. But she won't.

[Anonymous No.25969628]

Any world power could crash bitcoin if they so desired. It's all about hedging your bets and cashing out at the right moment. Anyhow I don't see it happening any time soon.

[Anonymous No.25969744]

>>25969164
China benefits from open capitalism and a fair playing field due to the diligence and hard work ethic of the chinese people

[Anonymous No.25969984]

Annd que the China Fud

[Anonymous No.25970070]

>>25962806
>majority of nodes are in China
>source trust me bro
I’m sure if this was true they could deactivate them before harm was done

[Anonymous No.25970667]

a 51% attack only allows to double spend your own money, not the money of someone else. and the network would instantly see it, you think hedge funds investing billions aren't monitoring for any of those kinds of issues that could have a negative impact on their investment?
you in the pic

[Anonymous No.25970765]

>>25962806
>Chinese miners control 70% of the hash power
not anymore 50% at best most of the remaining would leave the country within 2 weeks

[Anonymous No.25970805]

>>25970765

[Anonymous No.25970888]

>>25970805
from a tiny sample size not to mention outdated

[Anonymous No.25970958]

If China were to do anything of the sort it wouldn't happen any time soon. They're strategic long term thinkers and would most likely wait for Bitcoin to become so mainstream that large numbers of corporations and retirement funds are invested.

They would use the ability to destroy the US economy as a bargaining chip to achieve other goals. And then finally do any way because why the fuck not. The future is Chinese.

[Anonymous No.25971055]

>>25970958
they could already do that with us treasury bonds which dwarves the entire crypto market.

[Anonymous No.25971103]

>>25971055
well apparently not anymore. they are roughly now the same size interesting.

[Anonymous No.25971212]

>>25963693
It's literally all they have. Just spam the tether and china FUD nonstop to try and shake out the weak hands. If you sell because of this weak shit, you don't deserve to make it.

[Anonymous No.25971306]

>>25962806
stop picking quarrels and provoking trouble sir

[Anonymous No.25971305]

>>25971212
>coiner cope

[Anonymous No.25971330]

>>25967714
>real estate
>depreciating asset

Are you fucking retarded?

[Anonymous No.25971452]

Bitcoin winning = collapse of American society and so it's in China's obvious interest to push it fyi

The only reason the US can spend enormous deficits is that there is perpetual demand for US treasuries by virtue of the USD being the reserve currency. The second Bitcoin becomes a credible store of value, which it will because all incentives point towards its adoption and it is the only commodity on Earth that can't be debased, the dollar will collapse and the Fed will have to run the money printer on overdrive to sustain the economy. It won't work because the money printer just props up assets and contributes to an inevitable feudal society while everyone below the 1% sees their labor devalued. See: moral collapse of Western civilization, active Wall street managers underperforming, the birth of isolated elite neighborhoods amidst the collapse of the middle class, and assets being completely untethered from economic reality There's a reason Lagarde just came out and blasted BTC with pajeet tier FUD... The boom and bust cycles are symptomatic of a once in a millenium monetization event and BTC will either go to zero or millions per coin. Seeing that the first 5 bubbles failed to subdue long term demand, draw your own conclusions

Tether is more shitty FUD and it's in the ecosystem's best interest to have tether collapse in order to draw in institutional and government money. The stable coin regulation is unironically hugely bullish for crypto and I suggest you fags buy the dip if and when it happens

[Anonymous No.25971461]

>>25971305
>>bitcoiners need to cope at $40k
kek

[Anonymous No.25971512]

>>25971305
Im not coping, im getting rich, dumb nigger. You're the retard that thinks it's a smart idea to sell everything for hyperinflated USD.