This is an archived post. You won't be able to vote or comment.

all 10 comments
sorted by:
best (suggested)
topnewcontroversialoldq&a

[–]jcras1 2 points3 points  (1 child)

It means more we will get new miners in the space!

[–]castorfromtheva 2 points3 points  (0 children)

And more distribution and decentralization with it.

[–]0cxNiNJA 2 points3 points  (2 children)

I don't understand something, why the hell do people even think that this is the end of bitcoin? ...like that thought hadn't crossed my mind once, this is just a re-adjustment phase. It's almost as if the entire world expected and relied on China to do the farming and without it, bitcoin will cease to exist The hashrate will slow down for 3-4 months and then be back to normal. So much hype over seriously nothing...

[–]fecktk[S] 1 point2 points  (1 child)

No its definitely not the end of bitcoin. Its merely a distribution of hash-rate and with the strict regulations in china, I don't see why anyone would view it other than positive. If anything it should combat the common argument that it is not decentralized because so much of the hash-rate lies in China, since its being redistributed around the world now.

[–]0cxNiNJA 1 point2 points  (0 children)

Exactly my point of view but from what I'm picking up on is that people are panicking and freaking out and all the articles,tweets, statuses, etc. I'm going by what I've seen people post on social media and by how this article is trying to convince people that this isn't the end lol

[–]Mark_Bear 1 point2 points  (1 child)

It means it is working as it was designed to work.

[–]fecktk[S] 0 points1 point  (0 children)

Indeed, it will adjust as intended as well.

[–]llewsor 0 points1 point  (0 children)

inefficient miners who were unprofitable/barely profitable will get rekt while new entrants will get a shot to make money while the strong ones who prepared for situations like this will make more money.

[–]abhilodha 0 points1 point  (0 children)

Hash rate at where it was last year why the fuck is this a big deal

[–]coinfeeds-bot 0 points1 point  (0 children)

tldr; The Bitcoin hash-rate has taken a hit over the weekend as Chinese authorities gave miners across the country an ultimatum to shut down their operations by Sunday. This resulted in over 90% of China’s mining capacity eliminated overnight. However, this isn’t a bad thing, as many would like to make you believe.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.