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.
You are right, this event is a game, but we will not know about the real plans of this game yet, since it is not beneficial to the organizers of this game. There is a version that this is the beginning of the fight against digital cameras and China was chosen for the first strike on them. On the other hand, this event was associated precisely with the fall in the price of BTC in order for the management of mining to pass from one hand to another. In any case, this is an important event that will surely lead to certain consequences, but exactly what I think we will soon find out.