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RE: I'm Back! Must Watch Updates: Stocks, Bonds, Dollar, Gold, Silver, Bitcoin, Trading! By Gregory Mannarino
@slayer10...80% of Bitcoin-miners are in China. So China could probably destroy Bitcoin. There is the risk of the futures now. Bitcoin can't serve as a currency (slow and expensive). Bitcoin can get forked so it's not unique like Gold. Bitcoin has so many risks. Ether has as many transactions like all the other incusive Bitcoin together. It is used in real life. AXA insurance is selling flight insurances with Ethereum and many more. The concept of Ethereum is genius. Ether came down from 815$ to 660$ and now it's 763$. You could wait a couple of days. Maybe it's coming down to 700$. But then I would buy very quick.
In fact, you are completely mind-reading. Bitcoin has improved very fast. It was very popular but very fast. Ethereum is still calm and silent for now. I trust your sayings. I also trust Gregory Mannarino. I need to synthesize all of these. The most important issue is; as you said, 80% of miners are in China. So Bitcoin owns China. They can do everything they want when they want.
@mafsteem
@slayer10...China doesn't own Bitcoin but they have the control over the miners. If China would destroy the miners the mining would continue in other countries. Nothing would happen. But China could manipulate Bitcoin with the miners. For days or even weeks nobody would know what is the truth. And this could destroy Bitcoin but not with certainty. It's just not a good feeling when China has this possibility.
You are absolutely right. I'm talking about this. I think especially when America has so many bitcoins, it has to create its own mining. It should not ignore the possibility of manipulating China or any other country. @mafsteem
Increasing government oversight China's Bitcoin trade has been hampered, but China continues to maintain its importance for bitcoin mining thanks to cheap labor and programming power. Chinese customers paying for Bitcoin on their behalf can follow the process using the applications on their phones. @mafsteem
@beyfendi...Sure, China profits from Bitcoin-mining a lot. I doubt this will be a reason for the Chinese government to not try to destroy Bitcoin. The official China doesn't like a decentralized currency beside Yuan.
But , bitcoin mining continues to spread in the far corners of China's Sichuan region. Bitcoin mining machines in dark and tumble tanks are trying to solve equations to produce high value crypt money.. @mafsteem
@beyfendi...I doubt it is spreading meaningful. The 4 biggest miners in China have 65%+ alone. The chinese government needs just this 4. I think this is also the reason why the Bitcoin-protocol is not changing and the fees are going astronomically. In my opinion the manipulation is already occuring. Nobody can control if they are doing that already because they have the majority.
The fact that the Chinese central bank tries to get Bitcoin trade under legal regulations and takes tight measures against the stock exchange is a positive development. Entering the scope of regulation of clearing exchanges serving as locomotives in crypto money markets; users, stock exchanges and markets will be reflected positively and create a safer and more balanced environment. The creation of such an environment will also attract new investors and accelerate the flow of money into the system. @mafsteem
@beyfendi..."The fact that the Chinese central bank tries to get Bitcoin trade"...this is an argument for Bitcoin. But there are still several contras in my view.
According to your opinion, you said there are a few countertops.What are these ?? @mafsteem
@ beyfendi...80%-mining in China. Bitcoin can not serve as a currency (very slow and very expensive fees). It won't be a store of value because it is forkable. Gold will stay the store of value instead the next years. The future markets could gaming Bitcoin like Greg Mannarino is mentioning. The miners are preventing important updates in the Bitcoin-protocol. This could be already a fruit of the mining-concentration in China. They are not interested to have an innovative Crypto. They want big fees.
"I do not think Bitcoin is a stable investment instrument," Dudley said, "I am very cautious about Bitcoin, I do not think it is a stable value storage tool, but rather a speculative activity." used expressions.I think this interpretation should be taken into account. @mafsteem
@beyfendi...Exactly. But why Bitcoin when there are better speculative activities.
Increasing government oversight China's Bitcoin trade has been hampered, but China continues to maintain its importance for bitcoin mining thanks to cheap labor and programming power. Chinese customers paying for Bitcoin on their behalf can follow the process using the applications on their phones. @mafsteem