/biz/ - Business & Finance

>>24361879
Thats why Decentralization is important.
If you want decentralization you should look into AVAX.

>>24362077
>.2 AVA have been deposited into your account

>>24362077
XMR

>>24361879
That would tank the price and they'd be left holding trash. Instead, they can ensure that nobody else tanks it into trash. They benefit more from doing nothing. Please finish high school before posting.

>>24362077
>most of the supply is owned by the team, foundation and venture capitals
lmao what a gullible retard

>>24362201
How would it tank the price when no one(besides the attackers) would be able to transact during an attack? The CCP can "rugpull" BTC. Please finish high school before posting.

>>24361879
This is addressed every day here and it one of the key arguments. And yes healthy to discuss. Very similar to quantum attack scenario. It's a matter of motive. The only reason to attack it is an attempt to destroy it.

Miners are slaves to the Bitcoin. If they 51% attack they attack themselves. Everyone will see what they've done. The chain gets forked. No exchange is going to let them cash out. They lose their revenue stream. Their mining equipment is now worthless as they can only continue mining their own worthless chain. They'll also be a geopolitical pariah as every country in the world partakes in Bitcoin, not to mention the implications behind attacking an emerging technology and human ingenuity. The CCP can collect taxes and tends to confiscate Bitcoin at whim which is a boon.

Their motive for ending Bitcoin would be to completely move currency to their digital yuan, ending all hope of money leaving the state. I'm not sure the math adds up.

>>24361879
Any USA citizen holding BTC is a moron.

>>24362325
A bunch of really smart and rich morons.

>>24361879
you don't know how bitcoin works, how the network votes, what you can do with a 51% attack if you do it, or what happened to other crypto which received those attacks

>>24361879
> Load ze Chink miner FUD

>>24362288
Why would you rugpull the vehicle you siphon capital from the west with? Please at least try to attempt using logic.

>>24362308
Scenario: CCP orders a 51% attack and cashes out through CCP controlled Binance

This destroys your argument unfortunately.

>>24362356
Uh huh.
You have alternatives and you will not be the one that knows first when it's made illegal.

>>24362488
who is buying

>>24362488
newfag detected

>>24361879
China will ban crypto mining soon though. Or at least drive it so far underground that the share of the chinese hashrate will decrease.

>>24362401
fucking kek

>>24362488
That's not how it works. Bitcoin isn't something that's locked away in a vault somewhere where you can get at them and then cash them out in such a way.

In this fantastic scenario, they would attack the chain, and because the blockchain is transparent, this news would hit the network immediately. Order books would start disappearing instantly, the CCP would only have access to whatever they could scrap together on order books. At that point it's not like they're going to then ask Binance to withdraw their funds lol. At that point the cat is out of the bag. China has just 51% attacked the blockchain.

All of the exchanges are located around the world, Binance has offices in HK, but they're HQ is in Malta. So no, Binance has no obligation to give them a penny. It's a wildly inept scenario. Also, because Bitcoin cold storage can be multisig and have nuanced ways of protection, it is not even guaranteed that they would ever see any Bitcoin even in some sort of scenario involving force and physical access to the exchange. Their best bet is simply shaking up smaller exchanges based in China proper, which they do anyways, and confiscating (hodling) as much BTC as they can get their greedy hands on.

Any other questions?

>>24361879
Y you STUPID?
They are all already on chain mining BTC!
what kind of attacks are you talking about??
Join hashrate to one pool? What does it change? Everybody can see if they join one pool, at that point you either use their btc or a fork, btc credibility falls and they will loose their holdings, because there will be 0 trust in both forks.
They would dig their own turf pits where there is no turf, just plain acidic water.

>>24362488
>cashes out through CCP controlled Binance
i dont think binance has this much in cash $165,059,759,732
and if they do then its already CCPs money
lol

>>24363011
I should have thought another step ahead...if they were to 51% attack, they could simply orient the blockchain to say they owned all 21 million coins. In which the actual capital resides with the exchanges, all of the non Chinese are under no obligation to hand over any money.

In this sense, it makes more sense simply to attempt to attack the Exchange itself and try to get at their cash reserves.

>>24362488
>cashes out
Are you retarded? Who's buying in this scenario?