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>"I don't like bitcoin...hashing power for the bitcoin network would essentially leave China and be split between the remaining connected exchanges" Exchanges
by nonbel 10y ago
>"I don't like bitcoin...hashing power for the bitcoin network would essentially leave China and be split between the remaining connected exchanges"
Exchanges aren't necessarily the miners. Your first phrase suggests you may not know much about bitcoin, but maybe you have info I am missing. Are all the big exchanges also miners now?
- dmoy 10y agoMajority of mining power is in China. If the govt is really cracking down enough to take their exchanges offline, an ancillary effect could be that Chinese miners would get skittish and stop. (Or not, they could well just keep operating in the hopes that the government won't go after them). Hard to say.
- brilliantcode 10y agoWon't guys like this https://www.youtube.com/watch?v=K8kua5B5K3I https://www.youtube.com/watch?v=K8kua5B5K3I get affected? If all they can do is mine but not cash out, what happens to the network transaction speed and the overall difficulty?
- h1d 10y agoHow is cashing out got anything to do with processing speed?