Any proofs that Chinks will ban mining on 7th Feb?

>As mining slows down, transaction times and costs go up, prices come down as a consequence. Sell now or hodl bags forever.

this is brief, if hash drops the difficulty will adjust to accommodate.

>the difficulty will adjust
This user gets it.

Or people move to a properly scalable platform. Bitcoin is shit m8.

You know how much corruption the government has to deal with? They will have at least a power struggle before they push anything through. Als the miners also fuel the economy.

>Or people move to a properly scalable platform. Bitcoin is shit m8.

it is the backbone of crypto now and for a long fucking time.

the bitcoin network is the most powerful computer ever created in history, it will go on mining bitcoin for a long long time, it ain't gonna die.

it might swithc to bitcoin cash or whatever, but its not leaving.

btc would die if the major mining rigs in China shut down you understand this right?

>You know how much corruption the government has to deal with? They will have at least a power struggle before they push anything through. Als the miners also fuel the economy.

you mean how corrupt it is?

yeah, those articles are all FUD user. Mining in china is going nowhere. To many people are getting rich, its not going anywhere.

but the point is, it doesn't matter if it does.

If all the chinese has turned off tomorrow, that just means the guy with a antminer in his moms basement is going to start getting bigger awards.

myspace.com
Still kicking after all these years.

>btc would die if the major mining rigs in China shut down you understand this right?

no, i don't understand that at all.

make the arguement.

the protocol is designed to accomdate hash power coming and going.

Even a massive loss of hash power, would be chaotic for a period, but it would not be the end of bitcoin.

>the difficulty will adjust
lol, after 2016 blocks. What if it takes hours to mine one block when most of the hashpower suddenly leaves? Huge number of unconfirmed transactions, huge fees, price plummets, mining becomes unprofitable, more hashpower leaves, more unconfirmed transactions, more huge fees, price plummeting more etc

my dad is the president of chinas best friend and he confirmed the ban is imminent

we shall see i guess.

the hash power won't suddenly leave, but btc will go on even if it takes weeks to get to the difficulty adjustment.

You don't want to be holding btc during these weeks if that happens

this isn't true, other miners will just see a huge pay increase.. this won't slow the network down at all

this isn't true.. go fucking read

do you know nothing about proof of work?

Pls be real. Would cause a shit load of miners to leave the country and this shitty China owns bitcoin could kindly fuck off forever. Also as bitcoin loses hashpower in the chaos BCH takes over.

They don't see a pay increase until the mining difficulty gets adjusted, and it gets adjusted every 2016 blocks

yeah, there is that too...

the mining reward would sky rocket if 50% of the hash just dissappeared.

it won't though. the rumors are the chinese companies have been busy setting up operations in other countries anyways, its all a giant fucking nothing.

On Core, not Cash.

Seems you're the one who needs to do some reading up

It would end Core as BCH difficulty can adjust basically right away in comparison.

Look at the bcrap parasites in this thread.

>guy which import ASICs got info from Bitmain

China will only ban BTC mining if that ever happens. China has a long history of only allowing China-made items to be traded among themselves - NEO and its ICOs will spike as a result. Honestly, BTC needs to die and become decoupled from every other alt.