It shows now chinese gov , or the communism party is going to completely ban bitcoin. they will ban all exchanges and otc trade, and will ban mining btc too.
but china has almost 80% hash power of bitcoin, if china banned miners the difficultity will not drop so fast , then will hard to get new blocks in 14 days. you cannot send btc in these times.
I think chinese gov is already known about bitcoin, they can obtain all miners and use them to attack bitcoin. The "Bitcoin cash " is a bad example, which operated by a single chinese company bitmain, but no one can stop the folk, because they have enough hash power.
We supposed to talk about gov use hashpower to attack bitcoin network, but now, china CAN do it actually. If chinese want to destroy bitcoin, they may do it. Someone may think this cannot happen, and state declear a war to crypto is not possible, but why we have to fear about nuclear weapons in North Korea? These hash power is a nuclear weapon and it is owned by a evil state.
Other countries may happy to see this happen, I think every gov hate btc and crypto too, but they have their constitution about human right, so they can't do this.
bitcoin is in a big danger and may die.
The difficulty drops so there is a target time of 10 minutes, it won't take 14 days to get a block if it is taking forever to get a block. It may take a long time to find the first block after the mines in China go offline, but if it takes long enough it will rapidly adjust downwards so that the blockchain continues a 10-minute time target. There are a lot of mines outside of China too, don't forget that. It's not like there is only the mines in China and then everyone else who is being a hobby miner doing whatever on their computers that have next to no power for them.
