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RE: Bitcoin Bulls - Silver Lining in China Mining Ban
Oh I see. I thought if 70% of mining farms are interrupted (stopped mining due to the ban) it would impact the supply of new Bitcoins in the market (lesser bitcoins being mined everyday). I trust your opinion on the matter. Thank you :)
Bitcoin uses the SHA-256 hashing algorithm with an average transaction confirmation time of 10 minutes. If fewer miners are on the system, the difficulty to calculate the algorithms adjust automatically. As long as one miner is on the system, the network will continue.
That's brilliant!