Do you know the increase of bitcoin mining activities in Kazhakstan? The Mining City is based in Kazhakstan and more new mining pools will appear and contribute aggregated hashrates to reduce the dominance of Chinese based mining pools.
Mining City is at the 24th rank with 0.13% of total hashrate.
Do you know that Miningcity was/is a ponzi scheme?
https://behindmlm.com/mlm-reviews/mining-city-review-bitcoin-mining-securities-fraud-investment-scheme/https://behindmlm.com/mlm-reviews/mining-city-review-2-0-expanded-crypto-mining-sec-fraud/When the money dried out so did the blocks they've "mined"
The same scheme with them claiming to mine was used by
BitClub NetworkEven if China orders a tenfold increase in the energy consumed by Bitcoin miners, or shuts down all Bitcoin mining activities within its jurisdiction, or confiscates and burns all Bitcoin mining facilities and equipment, it won't kill Bitcoin.
<>
Well, China is rich enough that it can probably afford to spend billions and billions just to control more than 50% of Bitcoin's hashrate and then uses such power to attack Bitcoin's blockchain, but I doubt the country is that angry toward Bitcoin to do just that. Even supposing China is that hell bent to attack Bitcoin, it won't be sustainable either. I guess it won't even last for hours.
You're contradicting yourself.
So are they unable to do anything against bitcoin or they can seize all the mining gear and launch a 65% attack on the network?
And where did you come with the "it won't even last for hours"?
If they want to launch an all-out attack on it they can, they will simple confiscate all the mining gear, they will shut down bitmain and Cannan so no new gear is shipped outside, they will produce themselves more gear if needed and simply feed those state-controlled farm cheap subsidized energy. They don't even need to launch a 51% attack, simply mining empty blocks for three days would clog the network that badly it will make everyone who wants to spend less than $1k look for an alternative.
