Hi I think just before a month we saw china banning ICOs and taking severe actions against bitcoin exchanges which led to the shut down of almost all the three big exchanges.We could clearly understand that chinese government is totally against bitcoin.China has the largest number of mining farms in the world.
But still china has not banned mining.So,what's actually stopping china from banning bitcoin mining totally there?
Kindly shed some light on this topic.
Well I think they know that if they do that, miners will just go somewhere else. They will not kill bitcoin worldwide, by going after miners, so all they would achieve if they did that, would be to lose a decent source or income from the electricity consumption associated with mining. Their only problem with bitcoin, in my opinion, is that it allows it's citizens to easily make transactions, and the government would lose power over money. Mining is not threat to them, because it's just money entering in their pockets, and they don't mind that.