Latest report from various watchdog suggest China has started Crackdown of Bitcoin Miners again.
Bitcoin Image illustration , via pixabay
So,Bitcoin transaction fee will increase again, as there will be less power(miners)to validate a transaction.
With increasing fee bitcoin is no more alternative currency but just an virtual asset.
Miners shifted to china because of Cheap Electricity and Big hardware market for early access of different hardwares. It seems now they will have to look for alternative to mine bitcoin.
Mining is not Profitable Anymore
Back in 2012 solving a block would give 50BTC to miners which became half in 2014 and is expected to be just 6.25BTc in 2020. With increasing hardware price it is no more profitable to be a miner.
Is this really confirmed?
I think it's about control not banning. In a near future, government will heave a strong interest in having miners in their country, to keep proper balance of power. If a country is mainly mining a powerful currency such as Bitcoin (if it ever become a super currency), no one want a country to be able to manipulate it and the global economy.
I saw this on the internet about China started Crackdown on Miners and thinking will it really slow down bitcoin future or an opportunity for the bitcoin to drop for more new investors to buy into bitcoin at a cheaper cost.
There will be no future of bitcoin if there are no miners to validate transaction
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