i just bought 100 dollars in bit coin stuff, now what?

[SickleSigh]

nanarchy said:

SickleSigh said:
How does China being the majority of miners create a problem? They provide a service required for the currency to function. Much like everything else, China is taking the reigns of global power. It's not a manipulation in anyway. It's an occupation. Like the kids who make our phones.

It means control is centralised in a single country and hence subject to that countries policies, laws, influence and potentially manipulation. China for the most part is no worse than any other country but you see all these people arguing that the strength of bitcoin is it is not in any single governments control and influence when that could not be any further from the truth.

How do they control it? All they provide is computing power and logging of public transactions independently, completely random based on a separate transaction. The ledger would log if transactions were occurring on the same IP to receive a payout from logging it. Its really a stretch to say it would even be a net increase after increased power consumption to generate enough to control something that random.