Another thing is that even if one country should ban cryptocurrency, and they happen to be the location where majority of the cryptocurrency mining takes place, the cryptocurrency mining farms would still move their farms and relocate to another country where things would be in favour of them and they wouldn’t have to face any problem with the law by mining cryptocurrency. So, the location doesn’t really matter, it doesn’t matter whether a country has majority of the cryptocurrency miners, no one is actually going to control Bitcoin.
We can see even when China decided to ban Bitcoin from their country, a lot of the Bitcoin miners there decided to move to other countries. We started to see increase in the mining share of other countries such as Russia and the US.
We can see even when China decided to ban Bitcoin from their country, a lot of the Bitcoin miners there decided to move to other countries. We started to see increase in the mining share of other countries such as Russia and the US.
That's the beauty of decentralization and censorship-resistance. If Bitcoin was controlled by a single player, it would've died after the "China ban". Only centralized exchanges can be controlled due to their "high concentration" of power. Whales can manipulate the Bitcoin price all they want, but they won't be able to manipulate the network itself. It really doesn't matter how much a Bitcoin is worth in terms of Fiat as long as it works as intended. People can still use Bitcoin regardless of the price per coin. Always remember that 1 Bitcoin is 1 Bitcoin no matter what. As long as it remains decentralized and censorship-resistant, nothing else matters. Just my opinion
