Topic: 65% of Global Bitcoin Hashrate Concentrated in China - page 2. (Read 354 times)
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Actually, Bitcoin was already ban there in the past multiple and then they allow it again. So the answer to your question is a big YES. But even if Bitcoin will ban again in china. It will not destroy it since it's DECENTRALIZED which no one can stop it even government. So if ever they lose the majority of hash rate. I believe so crypto friendly country will step up and take over there role. Or else those bitcoin mining company from china will change location which they actually do.
autonomous Xinjiang region, which makes up 35.76% of the global total. Can bitcoin be banned there and, if so, will it effect the crypto market?
I have not research about your post and Xinjiang. Mining is a business, they pay taxes and pay for electricity, if Xinjiang is an autonomous region it means the authority of Mainland do not get to interfere in their economic activities but military protection, I understand is mainly i mainland that we hear the government coming for bitcoin traders and all of that. Even though there have been several conflicting report in the past of the Chinese government banning bitcoin, this has ever stop the growth and advancement of bitcoin and the entirely space. China knows the next financial war room is digital currency and they are now well positioned develop blockchain projects. Don't be moved, the future of crypto currency is brighter than we can currently comprehend now.
65% of Global Bitcoin Hashrate Concentrated in China. Half of the country’s hash rate is produced in just one place, the autonomous Xinjiang region, which makes up 35.76% of the global total. Can bitcoin be banned there and, if so, will it effect the crypto market?
I don't think it'd be all too negative, miners would benefit from this tbh. Also it's interesting to see merged mining platforms benefiting from over 50%, saw that rootstock recently got to like 60 something percent, that's pretty great! I also don't think china will outright ban crypto, it's not on their best interest
65% of Global Bitcoin Hashrate Concentrated in China. Half of the country’s hash rate is produced in just one place, the autonomous Xinjiang region, which makes up 35.76% of the global total. Can bitcoin be banned there and, if so, will it effect the crypto market?
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