Wednesday 1 February 2017

Is Bitcoin Controlled?

I'm really confused like let's say Bitmain decides to not sell any more devices ever. Could they get all the bitcoins for themselves? Like I understand some technology can still produce it but let's say they come up with the next product at like 200 Th/s and are running thousands the difficulty would spike making just about every device not able to even produce a profit! It just seems odd that they are the only company that sells miners at whatever price they want? Do other companies not have any interest in selling them to the public and want to hog all the bitcoins for themselves?

Tl-Dr: Seems like Bitmain is in control of all bitcoins because they have the machines required to get them, if they wanted couldn't they mass produce theirs, not sell any and have difficulty go up and be only people able to mine?



Submitted February 02, 2017 at 04:32AM by Boneyg001 http://bit.ly/2jZr5Vn

No comments :

Post a Comment