Re:China to Shut Bitcoin Exchanges?
by option_greek on Monday September 11, 2017 @02:45AM
(#15216487)
It is not just the miners. Say I buy BTC in gray market using local currency. How do I ensure the seller transferred BTC to my wallet. I will have to check the block chain to be sure of the transfer. Assuming great firewall is blocking all the BTC wallet clients in china through normal routes, satellite feed can still be used for verification.
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Re:China to Shut Bitcoin Exchanges?
by prostoalex on Monday September 11, 2017 @03:45AM
(#15216757)
That's the buying use case. Sending BTC (either to sell or to use as a payment) still requires a broadcast to the network.
So it seems like "receiving BTC from wallets not impacted by the firewall" is the only functional use case for the satellite feed.