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RE: Discussed Steemit on Alex Jones Infowars Today
"The currency [bitcoin] in itself can't be controlled." Are you sure? Can you elaborate? I recall reading that mining is becoming more centralized in China or something like that, and whoever owns the power companies pretty much has the mining firms by the balls. Forgive me, I am a laymen in regards to what the mining process is and how it actually works.
Great job!
Miners do not control bitcoin. They can produce blocks, but they cannot break the rules. Every single node on the network validates every block, so while miners could slow/block things (for a while, until a patch came out making them irrelevant, maybe 24h?), they can't take over the currency.
Oh I see. Thanks.