65% of Global Bitcoin Hashrate Concentrated in China. Half of the country’s hash rate is produced in just one place, the autonomous Xinjiang region, which makes up 35.76% of the global total. Can bitcoin be banned there and, if so, will it effect the crypto market?
Do you think that those 65% doesn't have a plan B? Of course they have and I'm sure they have some sort of fail over, or a business continuity plan in place in case their government shutdown bitcoin mining for good. It might take them time to set up everything outside of China and continue, but I'm sure there are more that are willing to take-over from them. Short term there will be a negative effect, but long term we are going to survived this kind of scenario.