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People aren't stopping their mining because the price fell, they are stopping their mining because of regulatory pressure from China. Miners that are still runn
by Taek 5y ago
People aren't stopping their mining because the price fell, they are stopping their mining because of regulatory pressure from China. Miners that are still running today just get to rake in the benefits of China pulling out of the game.
The profits will last until new datacenters are set up outside of China. It's a slow process to do that, hashrate might not return to its peak value for 6+ months.
- whoisjohnkid 5y agocorrect. When I mentioned more folks mining again I meant more folks mining because it’s easier and of course whenever the dislocated Chinese miners get their operations back up again in another location.