Very insightful. I can't see the Chinese colluding to vandalize bitcoin, though, as that would gut the price, leaving them unable to service the debt on their equipment.
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Very insightful. I can't see the Chinese colluding to vandalize bitcoin, though, as that would gut the price, leaving them unable to service the debt on their equipment.
Also, welcome aboard, I'm proud to be your first follower :)
Of course, the Chinese miners wouldn't but the Chinese government would consider a clampdown if Bitcoin were to cause too much disruption against the Yaun. I don't feel it is likely at the moment but it's certainly a possibility in the future and with such a high level of concentration of mining power in one place its worrying. Wow I love steemit, never had such quick interation before :-) Not even a member for one hour! Cheers Matt :-)
It really is a tremendous platform. Having the Chinese miners drop out wouldn't be a big issue though (although there'd be some very full blocks for a few weeks and many happy Western miners) the concern would be if they were forced to hard fork at gunpoint; how likely would that be?
very unlikely but an interesting thought ;-)