China may ban bitcoin mining. If this happens bitcoin is fucked until difficulty corrects

people panic selling. speculators.

And China cannot ban mining all at once. Big miners can just connect to bitcoin network through a vpn. It's not the same constraints as an exchange.

A difficulty being too high can only happen if a massive portion of the network will be shut down all at once. We all know it will not happen like that. It will happen slowly.

Pretty much irrelevant. What, do you think they're just going to throw away hundreds of millions of dollars worth of ASICs? If they don't just keep operating and using foreign proxies to dump, they'll simply ship their hardware to SK or Japan or something and mine over there.

this
You cant stop it

It will be good if China bans Bitcoin mining because all those SHA-256 ASICs will become useless. GPU and POS coins like ETH, VTC and BLK will then become the dominant cryptos as they should be.

They'll export the hardware to NK.
Then the whole world will ban BTC or at least cut off the norks' internet.

If anything the decreased flow of block rewards will reduce sell pressure and increase price.

>they'll simply ship their hardware to SK or Japan

This might not work because it's more expensive to mine Bitcoin outside China. In Japan there will be no free electricity and no cheap labor to run the mining farms. Facilities rental will also be more costly. South Korea is probably just as expensive as Japan.

Japan and Russian mining operations are up. China is about to become completely irrelevant in the grand scheme of things.

Jihan will bite the dust hard and he deserves it.

ETH is a ponzi scheme you dumb goy and noone cares about those other shitcoins

>he thinks a few dozen mined bitcoin is relevant vs the 16 million already mined and on the market

really just kill yourself now before you actually lose your money

Chinese miners can easily get work visas and continue their mining operations elsewhere.

The simple solution is for them to move to Korea, Japan, USA, etc.

That just means that based McAfee will take over mining and chinks will get BTFO.

your mom is a ponzi scheme

The U.S. Government & Federal Reserve & State governments will start their own large scale mining operations and become the dominant force behind all crypto.

p.s. - the IRS & States will no longer need to tax us with their revenue earnings from crypto, the USA will become completely tax-free.

Hmm maybe when Baron Trump becomes president. Our government is mostly composed of people who hardly comprehend what the internet is, much less blockchain.

Your Federal Reserve and all our governments are deprecated as of 2009.

Nobody's talking about it yet though so hold on tight for when the news hit.

What percentage of current global hash rate do you guys think is coming from China? I've heard they had some very large mining operations but never saw an actual figure.

I don't think it'd have that big of an effect on transaction speed if it's not like 75% or something.

This is bad but not necessarily a catastrophe, tether and the shitcoin bubble are bigger problems.

that would be news for westerners

What does this all mean for Bitcoin Cash? I expect a moon/flippening around the next BTC hardfork in November lads.

also 2006* iinm

Not justChineese use Bitfinex.

I know china have a huge part in the mining but are they in mainland china or taipei china? I hate how news talks about china like they are one single thing but they actually don't work as just one.

how old is this? BTX is alreadly dipping on kraken for days and is at 3200 USD right now.

If they just say "China" they're talking about the mainland. You talk as if you heard about the two China thing yesterday and want to showcase your new knowledge.

Sorry me, my kraken keeps changing to EUR and I didn't noticed.

There is like a worldwide agreement to consider both chinas one china.

Good. I'll have my fiat ready.

That's fine, ill move into BAT for mercury and then back to BTC for the dip.

What if this is a strategy to switch to BCH since it has a lower difficulty

Speculation, there is always people wanting fast money, low money is better than no money.

Taiwan is not a part of China.

You need a passport and visa to go there, chink? Yeah? Then it's not your country.

>transactions would take a very long time just like with bcash when it launched

And this did literally fuck all to the BTC price, what's your point?

Good. Jihan is fucked

Are you stupid? They just need to go to bitmain office, ask a question and power off the whole rig faggot

>So basically why is it fucked? We just have to wait a bit.

yeah japan want to start mining. "just in time"
samurais probably will shit out faster hardware.

in worst case scenario people will use their dusty usb asic miners to mine btc at home again lel ;D

Nothing. If there's a flippening it would never ever ever be that shitcoin. And even if it could, it wouldn't be if bitcoin was gimped by China shutting down bitcoin mining.

>Assuming the miners wouldn't immediately transfer their operations to other countries and/or sell all of their mining hardware to entities in other jurisdictions

Taiwan number ONE

>Literally the continuation of bitcoin is referred to as a shitcoin

This isn't /r/bitcoin you stupid faggot. Back to your echo chamber with you.

Question: How can a coin mined in China, often the majority of which is mined by two addresses, survive if there's no mining in China?

Only Reddit logic would overlook that and sperg out at someone calling it a shitcoin.

Chinks getting forced out of bitcoin mining would be fucking fantastic.

That's really not how it works. Even if they can't find cheap electricity outside of China (which they can), increased costs on the major miners would simply result in more fiat going into every coin and causing the value to increase proportionately.

Most mining is done in China you downycunt, the only difference is Bitcoin could experience chain death while Bitcoin Cash's EDA kicks in to normalise the mining difficulty.

But you go on believing what your kike overlords have told you, you big dummy.

>mined by two addresses

You are the point missing point misser. There's more interest globally in mining literally any other coin.

Go back to downvoting so you can maintain your eco chamber

You're missing the point idiot, those 2 miners are spending millions keeping the difficulty far higher than it needs to be, they could move half their hashing power to the bitcoin network but they're not, ever wonder why?

They are accumulating cheap bitcoin (cash).

>It's gonna take forever to get a confirmed transaction

Who cares? You can't shift diamonds quickly on the open market, but that doesn't affect their value.

Jesus fucking Christ.

You've just admitted in a sea of shitcoins, the one you think will survive is to one with manufactured interest from Jihan. Literally mining it at a loss because no one else will.

My point was about it's continued survival skills there be no mining in China. Are you saying suddenly it will become popular despite those two addresses no longer mining?

It's a shitcoin. If BTC dies, Bcash dies.

They don't want to see their experiment fail miserably only after a couple of months

Just sold 100k