Seems like China is done with Bitcoin. Hash rate has dropped by over 60% in the last few weeks, which confirms that miners are exiting China for good.
How does a Bitcoin exit benefit China in the long term? What do you guys think is China's game plan?
A lot of chatter about this being "China's trillion dollar mistake". I don't think China's dumb, so keen to hear what they might have up their sleeves.
China's game plan about what?Do you really think that the Chinese government really cares that much about the cryptocurrency mining industry?
Does an elephant care about a flea?
If the hash rate is really dropping and the miners are leaving China,that's great.We will finally stop paying attention to all the FUD coming from China and China will stop "banning" Bitcoin/crypto every week.
China has no benefit and no damage from kicking out all the crypto miners,because the miners influence over the Chinese economy is totally insignificant.