so whether or not the recent panic turns out to result in some action, i for one think china killing off the bitcoin exchanges at some point is a total certainty.
they think nothing of directly intervening in their stock and property markets and bitcoin is nothing but a tiny thorn in their side that might grow into a tree some day. it's of no benefit to the government.
in that scenario what do you think happens to bitcoin? mining aside, china contributes nothing to development, there's no actual bitcoin economy there and the exchanges are all probably bucket shops. at the same time of course the exchanges lead the west by a long way, though i'd guess many people on there are westerners anyway.
does it fatally hole the bitcoin market for a long period of time? is western volume reinvigorated when the traders migrate back? does chinese mining fade away and change into hardware sales and not much else? would many or any chinese people rig up some type of black market?
would the chinese government attempt to moderate it recognising that they'd be left behind if it was squashed or would they not care?
what do you think?
well acc to me
-pools will move to india
-as it will move to india it will legalised all over the world
-bitcoins would be used as currency
kudoos
The pool will move where the cost of electricity will be the cheaper possible in my opinion. On any markets, where you can make a profit they will have people who will continue the operations of mining and make some profits from it.
The world will continue even if the Chinese government will ban it in my opinion.
