The Chinese mining bitcoins are not allowed to use Bitcoins as a form of payment in their own country. So, what do these miners do?
The Chinese mining bitcoins are not allowed to use Bitcoins as a form of payment in their own country. So, what do these miners do?
Firstly , china hasnt banned mining or has it banned btc exchanges . All of this is a rumour.
But if china DID BAN mining and the exchanges , the bigger miners would simply shift to more favourable countries and environments but the smaller ones would simply die .
The only thing china has banned are ICO , which basically raise funds for a new crypto currency venture . Miners will simply continue mining until china actually bans btc