I've been telling people around the forum for many months already that the Chinese miners have over 90% of hashing power under their control, but most people were refusing to accept this truth. Given the nature of the political regime in Beijing, Chinese miners controlling Bitcoin mining basically means that it is the Chinese authorities which are essentially controlling it. Now that Donald Trump, the president-elect of the US, is going to impose hefty tariffs on the Chinese exports, what could the Chinese government retaliate with, for example, through exerting their control over Chinese miners? What immediately comes to mind is the rejection of all or most Bitcoin transactions that stem from the US...
So how likely is this, and what are the remedies, if any?
Is it really happen?
But the miners don't have to follow what their government wants. Bitcoin is a descentralized currency, it wasn't make to follow the government rules and desires. If it's really happen, there isn't much to do, as they have much power in their hands to mine bitcoins.
I just think Trump shouldn't retreat to please the chineses. And if the "trump" of chineses is the cheap electricity because their nuclear power plants, the another countries should stop them!