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What happens if China prohibits Bitcoin

What happens if China prohibits Bitcoin

2019/11/9

The fight for bitcoin seems to be endless,many uncertainties hang over new technologies.Currently, more than 75% of Bitcoin mining pools are located in China.This naturally makes China a very important country in the entire bitcoin field.

If China prohibits bitcoin mining，there may be multiple situations.

  1. The network will temporarily lose more than 75% of the mining capacity or hash rate in the area.This means,bitcoin will perform fewer transactions，and the speed of creating new bitcoins will drop dramatically.

  2. From the perspective of economics of supply and demand.For Bitcoin, a highly demanding product.If supply falls，there is bound to be a shortage，the price will continue to rise.


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