Post
Topic
Board Bitcoin Discussion
Topic OP
Question about decentralization
by
razorseal
on 20/05/2019, 15:52:39 UTC
Question popped up in my head today... Figured no better place to ask.

Crypto (well, mostly. I don't like company owned and/or closed source currencies like zcash, ripple etc) is decentralized and is mined just about everywhere. Looking at btc for example, there is no company/ceo owning it and it can be mined anywhere in the world (albeit with specialized equipment, but that's another discussion lol). Mostly is China I believe. About %80-85. Now if Chinese govt said (and they could) no more bitcoin mining. If we see anyone, it's immediate prison if you're even involved in it.

China drops from 85 majority to %5... The other countries can't pick up the slack.

What happens? Let's not talk about the price of btc dropping. I'm talking more about hashrate etc. Will the algorhythm get easier so others can mine more efficiently to keep up with demand of handling transactions? It's not like it'll get so easy that we can start mining with our computers right?

Just trying to get a handle on it, so I understand... I guess my question simply is. Is BTC mining scaling? I believe it does scale. but will it ever scale so far back (if it needs to) that if regular desktops need to mine, they can? What if 95% of all miners using ASIC just quit now?

Thanks guys! please feel free to fill my curiosity!