Regarding Bitcoin expansion: China, please do not willfully declare war on the world!

Let’s summarize the recent expansion issues.
Here's the thing. China has great computing power, but like other industries, it is just an export processing factory. What international friends want to say now is: China has strong processing capabilities, but the tariffs are too high/customs are strict. Since we can't reform and open up (tear down the wall), can we register an offshore company to circumvent tax laws and customs supervision (increase the interconnection speed of internal and external networks). We said that the factory cannot be relocated, wages cannot be reduced, and nothing can be changed. Wages must increase according to our plan, otherwise we will stop working.

Now the problem is very prominent: despite the strong processing capabilities, the design standards are still in the hands of the big powers. If they decide that Nike will focus on gold this year, you have to produce gold, and if they decide that it will focus on red, you have to produce red.

Our situation is more or less like "our factory has contracted more than 60% of the company's output, so the company's regulations must accommodate our factory."

As for international friends:
They don’t want to transfer highly polluting and energy-intensive industries to their own country. Their computing power increase is just like the nuclear weapons explosion during the Cold War. They don’t really want to surpass China in computing power, but just hope to have a role in future discussions because they still have Yuri (wrong, the right to modify design standards). In addition, they are ready to go solo (prepare for a rainy day).

Some people satisfy their emotions by imagining that "China has great computing power and has the greatest decision-making power". However, this is not the case. Let's make a simple deduction:

1. The total number of coins held/the number of addresses holding large amounts of coins that are not moved, are they more common inside or outside the Great Firewall?

Excluding the lawless exchanges, daily remittances/OTC transactions, etc., the quality of the addresses storing coins in China is probably not very good. Except for the few people who can be honored as the Thousand Coin Marquis and the Ten Thousand Coin Duke on the forum, I believe that even those who start regular investment now do not have many coins in their addresses.

This is just like the distribution of gold reserves. Large foreign currency holding addresses can release huge liquidity. Although it is unlikely, it is alarmist to say that "the world outside China has enough currency to operate the BTC ecosystem."

2. Computing power represents voting rights, and computing power is power.

This has basically become common sense for every BTC user. Have you ever thought that this may just be a mindset of "the butt determines the head"? "We workers have power" is because we were just workers at the time, so we desperately emphasized how long live the workers. You are all people with social common sense. In a non-turbulent situation, can brick movers really turn the world upside down?

Because we have a large computing power and our computing power will continue to grow, we will control the direction of BTC and determine the future of BTC. Really?

When the difficulty was low in the early stage, a large number of people who mined coins had already completed the primitive accumulation and had already mined all the gold and silver on the surface. Now the difficulty has soared, so we go to dig. This is like the West has divided up gold, silver, oil and rubber through early colonization. Now China can only get these resources by buying or digging hard. Shandong, China produces gold, but now we have to dig gold mines in Shandong sea, right?

This is not to say that it is wrong for us to increase our computing power, but to show that China's computing power does not have the influence we imagine. Even if we have always maintained more than 65% of the computing power of the entire network, it does not mean that 65% of BTC is in our hands. If we say "forcing the foreign devils to sit down and talk to us", this effect really does exist. But that is similar to labor-management negotiations. We always use strikes and bombings to threaten the operation of enterprises. While they want the enterprises to continue to operate, they are increasingly distrustful of China. In addition to satisfying self-esteem, is it interesting?

3. In extreme cases, China will not be able to support Bitcoin after the hard fork.
During the Cold War, the United States and the Soviet Union increased their nuclear weapons just to maintain a balance at the negotiating table. The key point of the game was "mutually assured destruction."
Today, China holds more than half of the computing power. According to common sense, the board of directors holds more than half of the shares. Why can't it command the entire company and do whatever it wants?

Because the shares you hold are restricted shares, they only represent your investment percentage and do not have actual voting rights.

Think about it, the Chinese mining pool has been talking about the same old things for a long time, but the standards have not changed. Don’t international friends advocate democracy? They raise their hands to vote, and we discuss the hashrate and decide immediately. It is still a humiliation to the country.
Because they have the right to maintain the core code. The curse of the great powers controlling the standards still exists in free currency. To be honest, they are talking about it now, on the one hand, to buy time to prepare for war and famine (they are also slowly increasing computing power), and on the other hand, they really want to solve the problem (there will be no war if peaceful evolution can be achieved).

On the other hand, we often say, "It's a hard fork, we will be quicker by then, and it will be a historical trend." That's not good. After the hard fork, do you believe that the current developers in China can maintain the code and continue to update it? Do you believe that China has the same relaxed environment/quality of practitioners as foreign countries, and can continue to develop BTC?

To put it politically incorrectly, if there is a disagreement and a hard fork occurs, I will definitely transfer the computing power to foreign countries. There is no other reason. Businessmen first seek stability and then pursue profits to achieve great things. The final result must be that the domestic fork becomes a sentiment. The computing power abroad has dropped sharply, but as time goes by, the computing power has slowly increased. Part of the domestic computing power has shifted to foreign countries because there are better applications and environments there, and the core code can be continuously updated.

Their investment is systematic. Once they develop, they will be listed on Wall Street, supported by venture capital, develop offline applications, and integrate the ecosystem. We are waiting for MMM, waiting for aunties, waiting for sedan chairs, and occasionally waving the strike flag. They can survive without us, and we cannot destroy them.

Back then, the capitalist camp did not have "the majority of the world's labor force" such as the Soviet Union, Eastern Europe, China, Vietnam, and North Korea, but still won the Cold War with its booming productivity.

Today, without China, the world may stagnate and regress, but sincerity will not be extinguished. The Boxer Rebellion could not save the country. We should still bow our heads and learn from others. Don't be fooled by the "fighting for the right to set standards" in the success theory. You have already shown your weapons to the point that others are annoyed, but you don't know their true colors at all. Business is about making money in harmony. Mutual consultation and compromise are what adults do. Do you think you have the right to speak by willfully forcing others to obey you? Is that really the case?

Think clearly about your position and look at the bigger world. Don't be a Boxer and don't wilfully declare war on the world, not to mention that we simply don't have the ability to fight against it. Make due concessions to buy time to train your own developers, build a better ecosystem, reduce unnecessary waste, and speak with technology.

I sincerely hope that the standards can be set as soon as possible, of course, peacefully.

From: Coin Technology