65% of Global Bitcoin Hashrate Concentrated in China

[FanatMonet]

In general, this state of affairs is not very good, because in theory, this could lead to an attack of 51 on Bitcoin. But on the other hand, the pools themselves will never agree to such actions, because they get huge profits from mining. The main thing is that the PRC government itself does not intervene.

[Kemarit]

65% of Global Bitcoin Hashrate Concentrated in China. Half of the country’s hash rate is produced in just one place, the autonomous Xinjiang region, which makes up 35.76% of the global total. Can bitcoin be banned there and, if so, will it effect the crypto market?

Do you think that those 65% doesn't have a plan B? Of course they have and I'm sure they have some sort of fail over, or a business continuity plan in place in case their government shutdown bitcoin mining for good. It might take them time to set up everything outside of China and continue, but I'm sure there are more that are willing to take-over from them. Short term there will be a negative effect, but long term we are going to survived this kind of scenario.

[TheGreatPython]

65% of Global Bitcoin Hashrate Concentrated in China. Half of the country’s hash rate is produced in just one place, the autonomous Xinjiang region, which makes up 35.76% of the global total. Can bitcoin be banned there and, if so, will it effect the crypto market?

For sure if bitcoin is banned in China and the miners quit it is going to affect the Bitcoin market. But that wouldn't mean the end for the Bitcoin ecosystem, there is just going to be a decline in price and as time goes on the remaining mining farms will be able to upgrade and catch up and things will get back to normal and that's it.

Although I don't really believe that the Chinese government will ban Bitcoin mining. They have tried to do that once but it didn't work and they left the miners to continue with their business. The only thing might be able to do is to ban the people from making use of Bitcoin and maybe miners will be affected in some ways.

[fiulpro]

Hash Rate is really really important when we talk about Bitcoins. We all know that Bitcoins is super secure ignoring the personal errors one can make .
Hash rate does determine how secure Bitcoins is , if it is banned there it will go down by 65% , but it is during the time of Halving and therefore it will go down by 65+15% , since many small miners are getting out .
80% !! Decrease would mean the market will die , but it would take a while for the hash rate to recover . But then again it will eventually all be fine , let's hope this does not happen.