Post
Topic
Board Bitcoin Discussion
Re: 81% of BTC mining hashratre is concentrated in China .
by
HasHe
on 24/12/2017, 05:10:10 UTC
Does that bother anyone ?
The reality is that does not bother any one.We recently saw china taking severe actions against bitcoin which led to shutting down of bitcoin exchanges there.But we should also note that it has not yet banned bitcoin mining there and even it would not ban even in the future.The reason is bitcoin mining is revenue for the government and even we hear that it facilitates some mining farms by providing them electrical facilities.Bitcoins mined there are sold all over the world which gives revenue to bitcoin miners which would in turn boost the economy  of china.So we need not have to fear about china ever trying or thinking to ban bitcoin mining.

But very soon,we could expect a fierce competition from japan and other countries since GMO,a big internet giant of japan has took initial steps and invested millions of dollars to manufacture miner equipments hich would affect Bitmain,the chinese company which still has the lion's share in manufacturing mining equipments.