More China Bitcoin FUD Beyond The Exchanges?
More Bitcoin FUD Beyond Exchanges?
Crypto traders were panicking this week and for good reason, China just put their crypto exchanges out of business. This drove $BTC to drop by over 20% in a few days days. However, there is possibly an even bigger problem lurking, the mining pools.
A large portion of bitcoin hash rate comes out of China via Antpool, ViaBTC, F2Pool and more.
ViaBTC CEO - unfortunate tweet cause now his "network" is on the Chinese Authorities radar. Loose lips sink ships.
If China should succeed in shutting down P2P connections before these operations can get their farms out of China bitcoin is going to experience some serious FUD. I think it will be bigger than the exchange FUD so keep your eyes on China and their actions regarding P2P in the coming weeks and months.
It seems Blockstreem saw the future and prepared for it. Help us Blockstreem satellite, you're our only hope. https://www.coindesk.com/blockstream-using-satellites-beam-bitcoin-earth/
Thanks for reading!
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very beautiful and interesting photos ..
good post ..
thanks for sharing.
Although I'm not a big fan of blockstream and their patents, this sounds like a good idea! Thanks for sharing, upvoted ✌
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I wouldn't be surprised if their satellite was mysteriously take out of service should this heat up.
Yeah I think we are in for a wild ride and many more close to unbelievable stories in the future.
Me personally I'm just not sure on which side blockstream stand. They seem to try to claim bitcoin for themselves with their latest actions
This is quite important to know
I'll keep an eye on China
Thanks for sharing
Regarding the recent plunge of BTC, I believe that the fact that it was excessive is a major factor.
Even if Chinese exchanges are closed, you can use overseas exchanges. Just think of the next one.
Even though the exchange is closed, I think there is no reason for the Chinese government to take the hands from the encryption currency, and I think that I will aggressively promote the government driven market.