What if China bans bitcoin mining?

What if China bans bitcoin mining?

The National Development and Reform Commission of China (NDRC) wants to ban bitcoin mining. The corresponding document appeared on the website of the organization. How will it possibly influence bitcoin?



Well, let"s figure out what possible outcome this decision might give to bitcoin network - this will reduce the hashpower of the network, blocks will be harder to be confirmed, it will take longer to calculate one block.



This situation might look as a disaster, considering the fact that by some calculations, up to 60% of the hashpower of the entire network is currently located in China. According to the logic of an average human-being, we imagine a huge factory with some production lines that are constantly printing bitcoins as the ...
Read more about "What if China bans bitcoin mining?" on coinatory.com

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