How China Took Control of Bitcoin (nytimes.com)

Posted by EditorDavid on Sunday July 3, 2016 @08:32AM from the people's-republic dept.

Slashdot reader Rick Zeman quotes the New York Times: In its early conception, Bitcoin was to exist beyond the control of any single government or country. It would be based everywhere and nowhere... Yet despite the talk of a borderless currency, a handful of Chinese companies have effectively assumed majority control of the Bitcoin network. They have done so through canny investments and vast farms of computer servers dispersed around the country...there are fears that China's government could decide, at some point, to pressure miners in the country to use their influence to alter the rules of the Bitcoin network. The government's intervention in 2013 suggests that Bitcoin is not too small to escape notice.

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It's been days by JustAnotherOldGuy · 2016-07-03 08:36 · Score: 3, Funny

It's been days since we had a Bitcoin story, I was growing nostalgic for one, and whaddya know, one pops up like a gift from Heaven.

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Just cruising through this digital world at 33 1/3 rpm...
1. Re:It's been days by JoshuaZ · 2016-07-03 08:51 · Score: 2, Funny
  
  We're not going to buy your overpriced tulips.
  Tulips at least look pretty. And gold is shiny. Bitcoin has all the same problems and doesn't even have anything nice to look at.