Naki Posted December 1, 2017 Share Posted December 1, 2017 People talk about the decentralization of bitcoin everyday and how thats what makes the system so secure but 80% of bitcoin mining is in china 80% of the hashrate comes from one location. This one location also happens to be currently in the process of completely depegging there currency from bitcoin making sure there citizens cant use it to buy any so lets say if bitcoin drops there currency is not affected. Now say china decides to ban bitcoin mining run a overnight operation and the government takes control of all those mining machines best hope for bitcoin is the system is crippled unuseable for a few monthes worst case scenario they 51% attack and everythings gone before anyone even realises. Bcc took 40% of the hashrate for 1 day and the mempool was backlogged by 300k transactions So how can people say governments cant take down bitcoin or am i seriously missing something Sancho 1 Link to comment Share on other sites More sharing options...
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