Hey guys I have a question that just popped up in my mind. What if the price of Bitcoin doesn't increase much after the halving and with the cut in half block rewards and increasing difficulty, do you think the Chinese miners will go bankrupt or they will manage to break even and get a slight profit? Can the Chinese government offer the mining farms preferential electricity pricing lower than the average for the country?
The first to go bankrupt are the marginal miners, not the ones with the lowest electricity costs and the highest efficiencies due to very large economies-of-scale in mining farms.
The halving will INCREASE the centralization of Bitcoin's hashrate (to China's mining farms), not decrease it.
Satoshi designed the distribution curve this way. Who is your hero, who is your daddy who sold you to the banksters?
He doesn't understand the mathematics of emergence from chaos.
Bitcoin will eventually fix itself. I have as much faith in Bitcoin as I do in mathematics.
Too bad you didn't learn that the universe is composed of partial orders and not a total order. Then you'd understand why every consensus system will become centralized and thus a defacto a fiat.