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, it is the Chinese authorities who are essentially controlling Bitcoin mining through the miners, not the miners themselves. Now that Donald Trump, the president-elect of the US, is going to impose hefty tariffs on the Chinese exports, 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?
it is kinda obvious that mostly chinese people have control over the most hashing power, nothing new i guess and people who dont believe it are just probably stupid.
However i doubt they would be rejectict transactions from the US, remember that every transaction brings money, and we have less and less btc to mine. So i think they dont, cause they still want to have big profits, and only accepting those transactions would allow it to happen.