BITMAIN NEARS 51% OF BITCOINS NETWORK HASHRATE!!!! IT'S FUCKING OVER BOYS

please fork btc to POS

bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash bcash

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>muh cashies

HAHAHAHAHAHAJHAHAHAHAHAHAHAH fucking kill yourself

FORK IT

Ripple CEO: Bitcoin Controlled by Chinese, Absurd to Think it Could be Primary World Currency

An under-reported story, Ripple’s CEO insisted, is how BTC is “owned by China.” He noted, “The smartest thing you’ve done is not have ‘bit’ or ‘coin’ in your name. I’ll tell you another story that is underreported, but worth paying attention to. Bitcoin is really controlled by China. There are four miners in China that control over 50% of Bitcoin. How do we know that China won’t intervene? How many countries want to use a Chinese-controlled currency? It’s just not going to happen.”

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lol

I'm in BCH just as much as in BTC, but your fud is gay, weak, and degrades the BCH "brand".

All as planned through the psyop.

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China loves the idea of decentralised money and they will make it go mainstream. Would be fucking retarded not to put 50% of your porfolio into chink coins desu

in the 1930's nobody could imagine the dollar ever being world reserve currency, now look where we are 90 years later

Jiahn is as small as the canary, if he can sustain and demonstrate ongoing value he will be BTFO by bigger players. He does not own, develop or manufacture computing power on a global scale

>china likes decentralisation
>is a centralised dictatorship
I realise you have lost a lot during this bear market, but come on, this is too much

They hate their own money, and hate the current burger dollar standard, like a lot of shitholes internet money is at the least, an option

He has well over 51%, a bunch of other pools are just front groups for bitmain.

explain

>hell fell for the PoW alternative meme

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It doesn't matter. The whales will slaughter Jihan if he tries anything stupid, and he knows it.

Jihan is a tentacle of the Chinese government. He's actually expendable, and he knows it.

All he needs to do is move the power towards BCH.

chinese businessmen are being held back by
1. their own government
2. tariffs that other countries/trade blocks impose on their goods
for chinese industrial royalty, the types that control cities and factories, decentralized trade would be an immense boost
for their government, holding usd is like a ticking time bomb because the usa might devalue at any time

Get the beans while it's cheap. This is the safe harbor, guys.

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Chink government knows Bitcoin whales are more powerful than them, because they have Rothchild tier amounts of BTC. Chink government (and US government) is desperate manipulating the market trying to hoard as much BTC as possible since years ago to try to defeat the whales (after they understood trying to fork it is useless). They know Bitcoin will be world reserve currency in 10 years when governments default on unpayable debts.

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they already got billion think they care? this is why poorfags are poor

>CEO of centralised Crypto currency explains why centralisation is bad.

sir, you can suck my fat cock

>10012577
It's always the jews

>got 1:1 from the fork and didn't sell bcash at $2,500
Aaaaahahahahahaha

Gmo's miner starts shipping in october and it's more efficient than an s9.
The japs got this.

Jihan is mining already with newer asics that will hit the market in the Fall... wtf is wrong with you?

If you haven't transferred all you coins to BCH you are a fucking idiot. That is all

You keep using that image. I do not think it conveys what you think it conveys.

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You know how hard will it be for them to gain 10% of hashrate even if there will be no competition(we know that there will be competition btw) right?

>CEO of centralised Crypto currency
you are retarded

Bcashies are literal subhumans.

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Right, because Ripple isn't even crypto

i will leave this here
>more decentralized than bitcoin

>tfw subhumans are gonna make it and not non-bcashies

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Exactly, it's a company.

Haha corecucks on suicide watch!

hot beandubs

BitMain has already gotten more than 50% hashrate on SEVERAL different coins (although unprovable since they mined as an anonymous entity) including Monero for over a year in secrecy which is why Monero now has to do a mining algorithm change every 3 months.

Bitmain owns all of crypto right now, they have the power to literally make unlimited mining resources.

almost to finish that shit coin btc off for good

mfw mr robot was just a distraction for the real thing

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It's time to move to Monero boys.

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Why do chinks fucking ruin everything

exept for xrp wich will be the standard

Instead of dumping core for cash, he can transfer all the BTC to multiple exchanges, swap them at BCH/BTC, crash BTC price while increasing BCH price. This way, there won't be a market crash, instead, only BTC crashes while BCH goes inversely up, riding on the ratio change.

This is like saying Google is small because they don't manufacture their own hardware.

Kys retard.

What the fuck are you complaining?
Its open markets so compete like GMO does!

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Bitmain is probably just a front for the chinese communist party, good luck outspending an entire country.

>le Anonymoose face.

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at 51% they can just start printing BTC right? The system only has integrity if less than 51% are mining rather than hacking?

no they still can't print btc but they can double spend more easily if they want to.

and also of course they can effectively censor bitcoin transactions at that point and can arbitrarily increase the tx fees. you either pay up or you never make the blockchain because their chain will always be the longest.

Seems to me like this is a pretty fucking important aspect of the system that has been glossed over until now.

Also, they don't have to get to 51% they just have to wait until other miners drop out, which I think increasingly occurs as the price of BTC decreases and mining becomes unprofitable.

At what $ per BTC do enough miners drop out to make them 51%.

Please explain why nation-level adoption would be problem?
Its not an issue if whitepaper and NAP are honored, otherwise we'll fork again.
Remember our end goal? Free the markets, free the world!

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Sminem wouldn't kill younglings.

guys, don't worry, I'm sure pension funds and other institutional investments will go balls deep into a market/coin that is controlled and can be fucked be some virgin chink

doesn't really matter how they get 51%
and it has not been glossed over people have been talking about this the past 5 years.

well maybe the die-hards have been talking about it, but I couldn't count on one hand the people I know who bought BTC and know about this.

then they didn't read a single page about bitcoin before getting into it don't feel sorry for them!

centralization of mining in china and in a single actors hand is a big problem. it's not the end of the world necessarily but it takes a lot away from bitcoins intended fairness.

It doesn't just make it unfair. If we want mass adoption it means a completely unusable system. Imagine the damage a chain reorg of just 10 blocks could cause if we were all using bitcoin to buy our coffee, pay bills, etc.

"Now is not the time for fear mr Jihan, that comes later"

this doesn't make sense because bitmain already made a miner in the present day that is able to mine using future tech.... sort of like a remote computer. So present day bitcoins are being mined from the future and when the market finds out about this the price will crash and the future mining will be unprofitable.

well if they abuse the system someones will fork btc in a way that the pow algorithm would be asic resistant. that way jihan is out of business with his asic farms and again gpu farms will be the ones doing the work for a while. hard fork would be announced beforehand so that people what want to get rid of the chinks can consolidate their transactions and business as usual from then.

to kick asic miners off of bitcoin it would be enough to change the hash function really their hardware would become worthless overnight. it wouldn't stop them building up new capacity tho.

but it does and its funny you sound buttmad

Wow, I’m here because of my son. I wasn’t going to post because there are so many children here but you’ve inspired me. My son keeps screaming in his room “WRECKED, WRECKED”. I didn’t understand what he was so upset about, he told me he put all of his savings from his summer job (around $2,000) into a cryptocurrency called Request Network and wanted to kill himself, so I’ve been trying to do some research to help him get his money back and calm him down. We really need to do something to stop this crypto currency stuff as parents since it’s ruining our children’s lives.

does this remote computer involve a flux capacitor?

They will try and leverage their position to hurt crypto sooner or later, only question is if a pre-emptive hardfork is worthwhile.

ignore him anyone who could get any information from the future would take over the entire worlds finances in about 2 months top.

they have now, this trend is only gonna continue to increase as the price goes down and soon they'll pretty much decide what transactions go through or not.

While typing this out I realized Satoshi is a retard (he saw this coming but hoped it would work out or something), look at every trend in companies ever, in a capitalistic society, the good ones grow exponentially bigger and the average ones fail eventually, this is literally what will happen with bitcoin miners as bitmain grows stronger and once the next bull run comes, they'll probably be more powerful than pretty much every company on earth.

Wtf that pic looks identical. They do this on purpose don't they? They really get a kick outta fucking with your mind. Is this some next level mandella effect type shit. What is this world.

>The whales will slaughter Jihan
He is the whale though and the biggest one.

The problem with that is you're also screwing over all the honest miners with asics. It might not be that easy to have a clean fork where everyone agrees on a new algorithm.

>well if they abuse the system someones will fork btc in a way that the pow algorithm would be asic resistant. that way jihan is out of business with his asic farms and again gpu farms will be the ones doing the work for a while. hard fork would be announced beforehand so that people what want to get rid of the chinks can consolidate their transactions and business as usual from then.
That is why he is pushing bcash. He wants to kill BTC before they have a chance to fork a PoW change. If he succeeds no one will do a PoW change for bcash and he can turn it into an inflationary currency with endless block rewards.

>It might not be that easy to have a clean fork where everyone agrees on a new algorithm.
well not now no, but once anyone abuses 51% power trust me it will be a lot of outrage and people will scream for blood and they will be vengeful. so screwing over anyone with asic would be an acceptable sacrifice. doesn't mean about 20% wouldn't stay with btc as is now. i wouldn't expect a clean fork.

Why can't bitcoin do what Monero does? Everyone 6 months just fork

>muh deux ex machina
as soon as you have to resort to hypotheticals.. I have to stop listening

yeah sure if you don't like something just cover your ears and say "blablabla i can't hear anything you say!!" like a 5 year old! that makes it better sure.

I hope they crash lightning(BTC)

so should i all in bch? serious question

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yeah but that's doing what the devs don't want, hardfork, because that's centralized apparently. if jihan does that and they fork bitcoin cash wins by default because
1) bcuck becomes bcash 2.0
2) jihan gets the coins on both chains
3) we get three bitcoins because some people wouldn't want the hardfork, again

that would be pretty funny, even if the market doesn't respond and make BCH #1, it will strengthen it

savvy investor talk right there. I will surely back any fund you start.

>Why can't bitcoin do what Monero does? Everyone 6 months just fork
They can but Jihan will dump BTC on markets in retaliation and try to flip everyone to bcash. Potentially he has 1 million or more BTC he can dump and bcash supporters have put all of crypto at risk by helping Jihan keep bcash alive.

You would still likely end up with asics mining secretly within 6 months. The massive drop in hashrate also makes it much cheaper to attack.

>mr robot
Kys commie plebbitor.

exactly asics developed -> change algo, asics developed again -> change algo again. but you have to understand something mining will still centralize in china without asics just not to that degree over time because they practically use free electricity freshly stolen from the plant to mine. if you want the western countries to to be able to compete you need an algo that actually requires less power and more standardized hardware to run. but since computer chips are all made in the east it's again a losing proposition. you can get memory cpus and gpus cheaper in china. they just fucking got the edge period as far as pow concerned. but at least malaysia and thailand and korea will also play that way.

>so should i all in bch? serious question
It's more likely he destroys all crypto markets than succeeds. If he didn't think that was a risk he would have done it already. He appears to be taking some measures to prepare, such as a bitmain IPO so he isn't all in on crypto if it goes wrong.

where did you get the idea i'm handing out investing advice you mongrel?