Necessary evil: why the ban of mining in China will be beneficial for everybody

“Mine Bitcoin is no longer profitable” is a phrase used by opponents of the cryptocurrency since 2013. However, while things have miners doing well. At least growth Hasrat BTC did not prevent even the longest bearish trend in the history of the industry. China will not become a serious obstacle — at least, so says Andreas Antonopoulos.

Mine spite of everything

Cryptomnesia recalled that BTC mining is almost always based on perspective. Even now, the miners prefer to keep to himself most of the coins to dump them at higher prices in the future.

Of course, some miners will take a chance. They will be mine, even in the negative, expecting the price hike in the future. Such tactics can work for small cryptoform.

The constant development of hardware for cryptocurrency mining pushes businessmen on continuous competition. In such circumstances, the luckiest players will always be mine plus his.

How do you know that the average miner makes a profit? It still produces the crypt. If this industry has brought only losses, no one would not engage in mining.

The rumors about the prohibition of mining Bitcoins in China can play the world on hand. The country hosted approximately 70 percent of all capacity of the network of BTC. “Hunting miners” will force many businessmen to seek new regions with accessible electricity. In such a situation will inevitably fall, Hasrat, which will affect the difficulty of mining Bitcoin.

Read also: In China they want to ban mining Bitcoin and other cryptocurrencies. What’s going on?

Source: Bitcoinist

Miners the rest of the world will be able to benefit, as the cost of mining 1 BTC greatly reduced. Besides, the Chinese will sell their equipment at competitive prices, to compensate for interim losses.

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