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.
For me they are just controlling it again trying to lower the price.
I think when the price starts to go up they would once again join into it.
They have been playing with the market banning and unbanning in the past so I think it is just the same old drama.
China has always played with bans like this and this is a repeat, I totally agree. but they have estimated the pros and cons of the ban. as a big country that is indeed mining very much there, of course it is very well calculated what it has done. the goal is clearly to seek profit which we cannot know at this time but in the future it will be seen that what China is doing is aimed at its interests.