What Happens If China Bans Bitcoin Mining?

[nhoj25]

It is said that the largest source of mining efforts is based out of China.  Will it affect the Bitcoin market as a whole when this mining sites taken down?

[MadZ]

I doubt it would have much of an effect. Mining difficulty scales relative to the network hashrate, so if a large percentage of the network was lost, the difficulty would simply decrease until it became profitable to mine elsewhere, even taking into account the higher cost of electricity in the rest of the world. Assuming mining is actually banned, mining companies in China would still be able to sell their hardware to non-Chinese companies as well.

[pooya87]

first of all China can not ban bitcoin mining because of how corrupt their whole country is. all these mining farms are feeding lots of people including government officials! additionally most of what you see from hashrate that is called "China" is not Chinese mining farms but Chinese mining pools. and pools have their servers in different places, even outside of China making it impossible to shut down.

and if some day they did shut it down with some miracle, if the mining distribution is like today still, it will affect the bitcoin market. we may see a drop but it is not a long term effect by any means. just like them banning exchanges for some time!

[rphk]

bitcoin is not specific country , if china bans bitcoin also there will not be big impact , but it price may go down little down ,but still there is growth as other countries are still trading bitcoin in every aspect to buy goods etc. the usage of bitcoin is spread across world ,so there s still growth we can see about bitcoin. And  it has gained its value further as lot of countries getting familiar with bitcoin.

[winderx]

we have to look into how much china's mining contributes to the pool before we can say how much it will impact

[lelahkenabanned]

It is said that the largest source of mining efforts is based out of China.  Will it affect the Bitcoin market as a whole when this mining sites taken down?

then bitcoin can no longer be produced and bitcoin circulation is very rare, this will trigger the price of bitcoin that will soar because everyone wants to have as much bitcoin as they can buy.

[cryptopolus]

Overall I think nothing will happen, because:

1.: If the ban comes suddenly there can be some difficulties for a couple of days, (until they decrease the difficulty level for mining), and than things go back to "normal"
2.: If the ban comes slowly, than most of those mining farms in China might move to a nearby country.  Even if not, there is much more time to adjust the mining difficulty slowly, so again nothing really happens.