Join the Trader University email list:
https://www.trader.university/email-list
In this video, I discuss the recent China Bitcoin mining ban, which this time appears to be the real deal. The mining crackdown has recently spread to the Sichuan province, and the goal now appears to drive all Bitcoin miners out of the country.
As Chinese Bitcoin miners unplug, the hash rate of the network has been falling, which will lead to a downward adjustment in the difficulty adjustment on June 29. In this way, the network ensures that one new block will continue to be produced every 10 minutes on average.
Bitcoin mining leaving China invalidates one major talking point against Bitcoin, namely that Bitcoin is somehow controlled by China.
Bitcoin miners do not control the network, no matter what country they are physically located in. Bitcoin full nodes control the network. They continue to be extremely decentralized and to enforce the consensus rules. Bitcoin miners work to serve the full nodes, and need to abide by the rules.
At this point, it is impossible for anything or anyone to kill Bitcoin, though central bankers and other groups that want to exert their control over you will continue to hate Bitcoin.
Not investment advice! Consult a financial advisor.
China’s cryptocurrency-mining crackdown spreads to Sichuan:
https://www.reuters.com/technology/chinas-cryptocurrency-mining-crackdown-spreads-sichuan-2021-06-19/
Mining pool stats:
https://miningpoolstats.stream/bitcoin
Bitcoin network total hash rate:
https://www.blockchain.com/charts/hash-rate
Bitcoin difficulty adjustment:
https://bitcoin.clarkmoody.com/dashboard/
Bitcoin miners moving to US:
https://www.washingtonpost.com/world/asia_pacific/bitcoin-mining-china-crypto-america/2021/06/17/0a39c3a8-c903-11eb-8708-64991f2acf28_story.html
Shutting down Sichuan shuts down a lot of renewable mining:
https://twitter.com/caprioleio/status/1406305605141282823
Check out my online trading courses:
https://www.trader.university/join
Use this secret coupon code to get a discount: YT99
Check out my Amazon best-seller, “A Beginner’s Guide to the Stock Market”:
https://www.amazon.com/Beginners-Guide-Stock-Market-Everything-ebook/dp/B07S31TBF5
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#China
#BitcoinMining
Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.
Related Post:
- GOSSEN RRQ LEMON Benar2 Ga Ada Obat | 3 Menit 8 Kill,4 Menit 10 Kill,10 Menit 19 Kill | Ranked Match
- DID JP MORGAN CHASE JUST KILL THE BITCOIN DREAM!?!?!
- Is The Bitcoin Crash Over? Did Coinbase Just Kill XRP? Live Trading and Analysis!
- NO KILL CHALLENGE – TOP 1 = 0 KILL – FORTNITE BATTLE ROYALE – Néo The One
- CARDANO MONOPOLY! PASS GO, COLLECT 200 ADA, KILL ETHEREUM! SAVE WORLD & KILL ALIEN ROBOT
- Did CHINA Just Pull Off A Massive PUMP & DUMP?
- DID THIS BITCOIN REJECTION KILL THE BULLS – Cryptocurrency/BTC Trading Analysis
- ☠️ Did Cryptocurrency Exchanges Kill the Bitcoin Marketcap in 2018? ₿ January 3rd Proof of Keys ?
- XRP moves up in Rank in China, China Set to Dominate Crypto / Blockchain, China Miner files IPO
- DOGECOIN BILLIONAIRES JUST MADE THIS INSANE MOVE! (ELON MUSK JUST DID THIS FOR DOGECOIN!)