Quote from: CryptoBry on September 09, 2017, 08:05:00 AM

Quote from: ronajon on September 09, 2017, 07:34:40 AM

most of the mining of bitcoin is done in china now, there are huge farm setup just for that.
so if the ban was real, what would that mean for mining bitcoin in general ?

These miners must be kicked out of China for them to legally do some mining business. Or maybe there can be a deal to allow the miners to operate as a business but they would not be allowed to convert their Bitcoin to the local money. I am sure there can be a big problem with that set-up.

On the other hand, if China will kick out miners or make the business for them to be difficult then there is a possibility that they can be out of the business and so the mining opportunity will be exploited by other countries and that is actually good for Bitcoin in the long run.

The miners would have a real problem.
They would have to find another country with low electricity costs where they can set up their mining hardware again.
Moving the hardware into another country, that is nothing that could be made in a few days. If possible at all. With a ban of bitcoin, the hardware to do mining might get confiscated.
The missing hash power would trouble us all with much slower transaction times and higher fees.