It is impossible to "take control of most bitcoins" using computing power alone.

Most bitcoins are in cold storage.  A double spending attack would affect only a small fraction of bitcoins, or it would destroy the current block chain altogether if it persisted for long enough. In which case you are talking about outright destruction, not "facing up to existence".

Either these people failed to RTMF, or this is a bad translation, or it's a fake.

It looks to me like the Chinese authorities have destroyed Bitcoin (in China) before it was invented.  Seems that fewer than one in a million souls in that country have the combination of capability and mindset to employ the solution.

One Chinese I know fairly well is vehemently and viscerally opposed to Bitcoin on principle and steadfastly refuses to learn or understand anything about it.  I have to hypothesis that whatever factors effect her perception are at play with a healthy percentage of the rest of the population.

Which would be marvelous. The price increase would be exponential. I find myself liking our Chinese overlords more and more.

Heh. Only the means turn you away, you racist. You don't like those filthy Chinese touching your coins? I kid, I kid.

The fact is if China tackles the market, so will many other governments. If the incentive exists for the largest sovereign government to manipulate the currency, it won't be alone.

The rational way to see this is only as mere demand. Governments are just another Bitcoin customer. They just have guns to extort more funds. Dangerous in ways but have faith that competition will keep them in check: China doesn't own the world.

Nobody is conquering the Bitcoin network. It shall remain sovereign as always because everybody is going to want to have a stake in it.

Your choice in Bitcoin suppliers and supporters shall remain and your coins will only be found more valuable. The fantasy we are portraying here can only be good fortune.

If people desire Bitcoins from the Chinese entirely. I am sure people will happily for service elsewhere, if they so desire it.

Again, there is little to be afraid of here. You people are scared of centralization but there is none to be had. It's not the amount of money nor fees that is relevant but the means that distribute them. The means remain sound and sovereign.

Gold is manipulated by the Chinese government. Are you selling yours?

There is this black guy I know who is quite violent. I have to hypothesize that whatever factors affect his perception are at play with a healthy percentage of the race.

Asshats. Shameless libertarian asshats.

At least he didn't generalize the whole human race and claim to know how to care for everyone. There's no bigotry greater than that.

Do you know how to use the Chinese internet? Why not? Or surprise me with some cool links.

Some reasons to consider:

1) More than 50% of Chinese (who live in the countryside) do not have regular (or often any) internet access.

2) You can buy things on Taobao (the Chinese equivalent of eBay) with zero payment processing charges.

3) The RMB is appreciating and has been a stable currency for many years.


Cheers,

Ian.