TAKE THIS WITH A GRAIN OF SALT (ANOTHER BITCOIN BAN IN CHINA)
Some of China’s mining operations are already looking to relocate overseas, but the process will take time and will inevitably lead to lower margin, since electricity prices outside China are much higher.
Russia could be in a position to capitalize given it also has cheap electricity prices. Moscow recently launched a plan to capture one third of the bitcoin mining network from China.
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There had already been a huge wave of fear On the cloudmining site EOBOT. People were pulling up yeara of aquiring 5yr ghs contracts due to fear of a china ban. I put an ear to the ground and realized that the fear was unfounded as a few chinese were causing this scare to happen. Probably state sanctioned in order to manipulate and profit from the misinformation. This in my opinion is more of the same. The logic of backing out of blockchain technology would be foolish and bad for the esteem of the chinese nation. It would be like banning automobiles in 1905. My two bits is weather the storm and stay the course... acknowledge the fear but make concientious decisions based off of research
Thanks for your good posts, I followed you!