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.
When it comes to financial capacity then they wouldnt really care much on how much they had missed out or lost in terms of fiat when it comes to revenue or something like that and of course every action
would have be having corresponding reason behind it and it would really be varying into their interest but honestly, does it really matter that much? China could make those kind of decisions but i dont see for it to be a
major concern even though it can really affect on how the market moves but it isnt the end of everything.
They might have a plan but to know that the world doesnt only turns around because of China.