The “China ban bitcoin” narrative build up again
https://ift.tt/3smoUi7
[https://www.cnbc.com/2021/12/18/chinas-underground-bitcoin-miners-.html](https://www.cnbc.com/2021/12/18/chinas-underground-bitcoin-miners-.html)
**Keypoints from the link (NOT my opinion, NOT what I think, and probably NOT true):**
* **China cracked down on its domestic crypto mining industry in May, but many miners have figured out ways to continue operations and evade detection.**
* **Experts estimate that as much as 20% of the worldwide bitcoin network remains in China.**
* **As hydropower dams dry up in the provinces of Sichuan and Yunnan, miners are newly contemplating taking their operations overseas.**
**It seems to me (now it IS my opinion) that they are just trying to build the idea again that China is relevant to bitcoin (it isn’t, and the hashrate recovery is the proof) so that it can “ban” it for the 98765789th time. Some weeks/months from now we will see China “crackdown” headlines and it’s “China bans bitcoin” all over again. Be prepared.**
Cryptocurrency
