Well it was a short read but I kind agree. There is no point in rejecting BTC if China has accumulated a ton of it. However I don't know if they will be Pro-BTC or not since they want to promote the digital Yuan and banned miners.
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I think BTC is moving away from China.
It just seems they are fighting it a lot. I think the mining is moving out of there.
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I think China will maintain mining dominance (even if secretly) because bitcoin has global strategic value now.
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The problem is that energy costs are going up, making it a lot less profitable for the miners.
They are relocating to areas such as Norway where renewable energy makes their operations a lot less expensive.
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Come and mine it in Venezuela buddy, you don't pay for electricity here hahaha (sad and true).
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I read that they were having trouble with their electrical transformers being sabotaged?
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That is what the government says, the electricity problem in the country is the government's own fault. The electric service belongs to the government and they have done nothing to make it work properly.
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That is no surprise. Most problems can be tied to government or politicians.
Of course, they all deny it.
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Exactly, they always deny it.
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