Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: emma.lee1890 on October 16, 2018, 08:37:40 PM
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China is, by some distance, the undisputed world leader in bitcoin mining — with Chinese mining pools controlling more than 70% of the bitcoin network's collective hash rate (a higher hash rate is better when mining cryptocurrencies as it increases your chance of finding the next block on the chain and receiving the bitcoin reward).
Many in the bitcoin and cryptocurrency industry have expressed concern about how much control this gives China over bitcoin, with the Beijing-based Bitmain Technologies mining more than half the world’s bitcoins.
Now it appears U.S. president Donald Trump's White House is also worrying about China's bitcoin dominance, with a Ripple Labs executive suggesting the U.S. administration is interested in ripple (XRP) adoption to offset China's bitcoin strength."