I can guarantee you.... there will always be a country that would give a big f_ck you to the rest of the world ...and they will allow Bitcoin and Crypto mining. When the hashing power goes down... the difficulty goes down and these people in those countries will once again be able to mine Bitcoin with GPU's and CPU's.
You will even see people moving their whole Bitcoin operation from these "banned" countries to the Bitcoin friendly countries and everything will stay the same. (Like we saw with the Chinese banning Bitcoin mining in China)
You will even see people moving their whole Bitcoin operation from these "banned" countries to the Bitcoin friendly countries and everything will stay the same. (Like we saw with the Chinese banning Bitcoin mining in China)
El Salvador is that country. I believe others like Iran, and other nation-states that are being sanctioned, and those that will be sanctioned will use the currency that solves the problem of censorship. Once HODLed, and the value of the protocol is truly realized, the HODLer-state will protect it, help/add value to it.
Right now one such country is El Salvador. Already they've booked a big profit out of bitcoin adoption. Now the government will whole heartedly welcome miners, if something like a ban happens around.
Because El Salvador is a Nation-State-HODLer. They will need to secure their investment’s success. Part if Bitcoin’s success is motivated by incentives and greed.
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When the Chinese government made a ban, more miners moved to Iraq, and within a short the illegal usage of electricity on mining peaked whereas only 5% did it with proper registration. So, they took steps to have control over it and restricted. Then once again the government allowed mining. So, one way or the other the process will continue without any big impact to the network.
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It was Iran. Plus the U.S. and Kazakhstan.