Quote from: iTradeChips on June 21, 2021, 01:01:57 PM

Quote from: brainactive on June 21, 2021, 11:41:54 AM

Quote from: Wind_FURY on June 21, 2021, 11:15:53 AM

BUMP!

I see that the topic was made TWO YEARS early. The largest SOCIO-POLITICAL, and SOCIO-PSYCHOLOGICAL attack is happening RIGHT NOW through the FUD by state-level actors of the Chinese Government. They will try to convince you to sell, DON’T, just HODL. As a community, Bitcoin needs us to stick together, and not be disunited in mind by these FUDsters.

Seems like China is upping their game this time though. If they cancel bank accounts based on involvement with Bitcoin, Chinese miners can't sell their Bitcoin.

They have even coined a term for what is happening in China - Great Mining Exodus. From the looks of it, they have no choice but to move their operations to Bitcoin friendly countries. Some chose neighboring Kazakhstan for their mining operations. But the more advanced or monied miners might chose western countries such as Canada, the United States, and northern European countries. Chinese authorities gave them 2 months to pack up and leave.

Source: https://www.cnbc.com/2021/06/15/chinas-bitcoin-miner-exodus-.html

Yes I also read some sources where it was said that this is beyond doubt serious by the Chinese government. They won't revoke their decision. That surprises me a bit I must admit. So far it often has all been about threatening, but this time the threats are real and they act upon them.
I think the miners shouldn't have too many problems to transition their operations into another country. I don't know in how far neighboring countries are inclined to host those mining operations. The question is probably anyway whether they can obtain electricity prices as cheap as they could in China in order to stay competitive.