Post
Topic
Board Bitcoin Discussion
Re: China Ban and the mining exodus
by
TheGreatPython
on 30/10/2021, 20:10:33 UTC
A lot of countries have been benefitting from China ban on cryptos. Due to the ban, countries that made borders with China saw their crypto mining industry boom. Kazakhstan is one of the most recent countries where the crypto mining interest is surging as "at least $1.5B in economic activity from crypto mining within 5 years" is expected to hit the country. The investment that crypto will bring to the country will be a boost for Kazakhstan's development.
Well, I guess it’s not really bad that China has decided to step out, since that has brewed the opportunity for other countries to step up in their cryptocurrency mining game. You really never know what you can do until you’re pushed to the wall: at the first time when China’s government were threatening to ban cryptocurrency in their country, a lot of people were afraid that it was going to affect the cryptocurrency community and the market, because China as of then holds the largest mining share in cryptocurrency, especially Bitcoin.

So, a lot of people felt that they were everything and that if they should leave that it was going to affect the market seriously, but now, so far since they have gone, we haven’t seen any changes at all. The market has continued to flourish.