China Bitcoin mining ending are awesome news

Moneybadger don't give a fuck.

These are fantastic news for Bitcoin:

  • Bitcoin mining gets more descentralized.

  • Bitcoin mining gets more clean (renewable energy sources).

  • Bitcoin miners in other countries become more profitable.

  • Bitcoin miners all around the world get cheap mining rigs from China.

  • Mining difficulty automatically adjusts as per protocol, neutralizing the effects of less (or more) mining rigs coming on/off line.

  • This kills the FUD about: “China controls Bitcoin!” (China will have no miners, no exchanges, no nothing to ‘control’)

  • This kills the FUD about: “Bitcoin uses dirty energy!” (Bitcoin mining uses mainly clean energy but in China part of the mining was being done with coal).

  • This kills the recurrent FUD: “China bans Bitcoin!” (there’s nothing left to ‘ban’ for them in the future).

submitted by /u/simplelifestyle
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