Sorry for the noob question but if the mining goes on outside of China, isn't that a good thing? At the very least, there is the semblance of law and business rights. Also, if China bans mining, wouldn't that increase the scarcity?
Again, not a veteran. Just wondering why the negative sentiment?
Again, not a veteran. Just wondering why the negative sentiment?
Yes it is a very good thing. Look how very large the largest mining pools were in Sichuan. This is what was left after the machines were transfered.
No it will not increase scarcity. If hashrate goes down, also difficulty goes down. Bitcoin’s scarcity is from the monetary policy.
Also, the argument in this reddit post has increased in relevance because we have witnessed the risks of centralization of hashrate. Asic resistance might be impossible, however.
https://www.reddit.com/r/Monero/comments/k0czhk/why_asic_resistance_is_ridiculously_important/