News Cointelegraph: Bitcoin Actually Benefited From China's Decision to Ban Mining

[Admin]

Cointelegraph argues that China's decision to ban cryptocurrency mining worked out pretty well for Bitcoin.

Cointelegraph: Bitcoin Actually Benefited From China's Decision to Ban Mining : Read more

 

[VforV]

Indeed, but the mining difficulty went up from 4P in January up to 9.4P currently and that means despite the price crypto closing now to the all time high, profitability is lower than a a few months ago and getting lower by the month, unless the price of crypto has a much bigger exponential growth than the difficulty does.

But regardless of that if the difficulty bomb does come in December, we are probably gonna see the used GPU market explode then.

 

[watzupken]

The bounce back in difficulty/mining operation is not unexpected at all. Big time mining companies will simply just move their operations elsewhere. The world is not = to China only. Also, I am not sure if Bitcoin benefited after being forced out of China. To me, it is just where they were, just not mined primarily in China.