Quote from: Argoo on March 23, 2021, 02:57:11 PM

Quote from: pinkflower on March 19, 2021, 01:36:13 AM

Other countries that hate Bitcoin will follow China's ban on mining if it is successful. This makes a good reasoning for research and tests on low energy forms of mining like Proof of Space and Time and Proof of Capacity. The wasteful use of electricity must stop.

This is not a war against bitcoin. It is stupid to create conditions for making it difficult to get bitcoins and consider it a war against him. Is it possible for the Chinese government to damage bitcoin by doing this, even if it achieves a complete cessation of bitcoin mining on its territory? Of course not. Even if absolutely all states unite and somehow make it impossible to mine it, then this will not be fatal for bitcoin. After all, about 18 million out of 21 million bitcoins have already been created in the world. Only created bitcoins will be used. However, Bitcoin, if it is banned from mining in China, will continue to be mined in other countries. Therefore, this decision of the Chinese government is more economic in nature.

Okay, it's not a war against Bitcoin but it's a war on mining Bitcoin which is essential for Bitcoin to continue working. But the same problem. Mining Bitcoin has become very professionalized that securing it with the computing power it needs will not be enough without a license.