Yes the "exodus" of the chinese miners is probably a good thing for BTC but I am quite certain that China never planed to destroy BTC with this move. They "just" want to controll their people even more with a cryptocurrency which has a fixed price which is regulated and monitored by their government.
This is just an asumption but it is quite likely that the chinese government (at least the people in the government themselves) have a big amount of BTC for themself (the chinese government usually gets a big part of every company in their country -> look into Alibaba for an example)
China will probably just use these coins to earn money from the rest of the world without being really involved in it.
Topic: Many great things are banned, censored or restricted in China. If China wants to - page 3. (Read 410 times)
June 22, 2021, 01:52:15 AM
June 21, 2021, 10:31:26 PM
Just to name a few:
Google
Youtube
Facebook
Wikipedia
Reddit
Netflix
Instagram
Whatsapp
Skype
Quora
Winnie the Pooh
Alice in Wonderland
Even though these things are banned in China, they are thriving in the rest of the world.
If China wants to crackdown Bitcoin mining activities, miners will go elsewhere. This is actually a good thing for cryptocurrencies, as it shouldn’t be under a decentralised, power-obsessed regime. China can play with its digital yuan.
Youtube
Wikipedia
Netflix
Skype
Quora
Winnie the Pooh
Alice in Wonderland
Even though these things are banned in China, they are thriving in the rest of the world.
If China wants to crackdown Bitcoin mining activities, miners will go elsewhere. This is actually a good thing for cryptocurrencies, as it shouldn’t be under a decentralised, power-obsessed regime. China can play with its digital yuan.
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