Most people are well aware of how the majority of Bitcoin mining takes place in China. Not only is this a centralization problem, it also means China is still dictating the Bitcoin landscape to a certain extent. Last week, news broke that the Chinese government was cracking down on Bitcoin mining. It seems a portion of that information was vastly overstated, even though mining business operators were asked to exit the industry in an orderly fashion.
Article: https://themerkle.com/china-introduces-new-rules-for-bitcoin-mining-operations/
Thanks for sharing. I think that these barriers may slow down the crypto frenzy a bit, but they will not stop the global crypto trend like some people believe.
Mining of cryptos will just move to places with cheap electricity. And many of the new altcoins are not minable anyways, so governments cannot stop their existence.
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