A video discussion, published in the Crypto asset media outlet Real Vision, said that China wants to control Bitcoin’s Mining before launching the E-Yuan. In the discussion, Logica capital’s Chief strategist officer Michael Green emphasized that China may take a bad move against bitcoin.
According to the data, most of the data mining is occurring in regions like China, Russia, and Iran. If china limits Bitcoin’s Mining under $7billion the Bitcoin is no longer a decentralized currency. why china limits Bitcoin’s mining, opinion are divided.
Who Take Advantage after Limiting
The answer is very simple, china. but how china take advantage lets understand
China and U.S. are in a war with trading. The U.S. imposed many restrictions on China and Chinese companies. Like a ban on Huawei, a ban on china’s 5G service, and sift many industries outside China. China wants to teach a lesson to the U.S.After limiting Bitcoin China may control over Mining feature and use Bitcoin against the U.S. dollar.
Second, China Wants its own centralized digital currency E-Yuan. Before launching they want to put Bitcoin under control in the ring of the digital currency’s world the biggest competitor of E-Yuan.
Third, it may possible China uses Bitcoin as a tool against enemies like America to weaken their currency.
Fourth, To make himself a king(dictator) in the digital currency world.
**These are the opinion, that may be true or maybe not. Cryptoraja does not claim any validation of opinion.**
The vast majority of the mining activity is occurring in regions like China, Russia, and Iran, and if we incorporate the participation of mining pools, they control in excess of 90% of the hash rate. This is not a decentralized system,”.
Michael Green, Logica capital’s Chief strategist officer
What happened after the rule may take place. India also takes the same path as China. But the only difference is that India completely bans Bitcoin before launching of E-rupee.
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