On: Facebook reveals its cryptocurrency Libra

[cowpig]

I think there's an argument to be made that Bitcoin is oligarchical, but saying that 70+% of mining happens in China doesn't support the statement.

Nor is susceptibility to a 51% attack relevant to that point.

[la_barba → cowpig]

You're right, the fact that they're in China might be irrelevant. I should have mentioned that a very large percentage of mining happens on a handful of pools.

[umanwizard → cowpig]

> saying that 70+% of mining happens in China doesn't support the statement

I think the implication is that since China does not have meaningful rule of law, that 70% of mining could in practice controlled by one entity: the Chinese state.