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/biz/ - Business & Finance

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25560794 No.25560794 [Reply] [Original]

>chink companies and operations control 60% of the bitcoin mining share

So what stops the CCP from seizing the equipment of these chink companies and mining operations and doing a double-spend attack on bitcoin and crash the big american bitcoin companies like Coinbase, Kraken, Paypal etc.

>> No.25560851

goddamn it can we already shift to a different consensus protocol? someone needs to invent a better variant. I might screw around with it.

>> No.25560943

>>25560794
Simple. They would lose way more than they gain by virtue of holding so much hash power.

>> No.25560952

Why would they?
Right now BTC is a goose laying golden eggs for China.

>> No.25561084

>>25560851
>>25560943
>>25560952

>thinking the CCP gives a flying fuck about money

Most of them are already multibillionaires and money is their least priority. They dont give a single fuck about the millions they mine everyday with bitcoins

>> No.25561237

>>25560794
they aren't cartoon villains, they would gain nothing from that

>> No.25561272

>>25561084
Ok, if we assume they only care about power, then why would they give up controlling 60% of the world's most robust and secure currency instead of trying to push it as the global standard? And for what, to crash some shitty exchanges? How would that even benefit them? You're thinking like a 15 year old pleb.

>> No.25561443

>>25560794
Chinks have the highest IQ in the world if their govt decides to do that most will gtfo before their govt can move a finger.

>> No.25561501

>>25560794
The only thing stopping them is doing something more useful with it.

>> No.25561818

>>25560794
Because the miners facilitate ways for their elite to get their money out of China and around capital controls.
Plus numbah go up.

>> No.25561901

>>25560794
The CCP stopped miners from selling actually. They want to pump the price
Imagine bitcoin nigger normies thinking this will last forever. They actually want this to continue. Le epic decentralized finance meme was dead since it’s first moon cycle. Now it’s just a Ponzi scheme, but this time it’s a multinational power play.

>> No.25561955

Mark these words and mark them well:
2021 will see a crash not seen in 92 years.

>> No.25562019
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25562019

>>25561955
Marked

>> No.25562088

>>25560794

They want btc to succeed because it threatens USD position as the reserve currency.

Upending the global financial system is their goal, not to fuck with coinbase.

>> No.25562225

>>25561443
Why would most people know what the CCP is going to do before the CCP?

>> No.25562255

>>25560794
Because then they would be undermining the very source of their wealth. Read some Satoshi Nakamoto before posting this crap.

>> No.25562306

>>25560794
For the last time mining pools are not hashrate.

>> No.25562349

>>25560794
>china fud
>2021
you know what to do....