China corners the Bitcoin Market

It would seem that the claims of being both apolitical and above influence is no longer the case for Bitcoin.

Bitcoin, a digital currency utilizing encryption techniques to regulate the generation of currency and verify the transfer of funds allegedly operating independently of a central bank has been hijacked by China.

It seems the entirety of bitcoin operations have been sucked up by the Chinese who have taken control via massive server farms across the country.

US executives interested in the new age currency now have to travel to China to engage the top tier hierarchy of the Bitcoin industrial complex as in excess of 70 percent of the transactions on the Bitcoin network are routed through four Chinese Bitcoin mining pool companies.

So much for independence and decentralization, eh Bitcoin.

A new currency which was supposed to be above those petty entanglements that heavy handed governments who love their crackdowns on anything and everything is now just another exploit lynchpin for the exclusive use of China.

Leave it to the Chinese to ruin things for everyone. Bitcoin is nothing with which I care to be involved any longer. BOO !