RE: Alt Coins & Digital Assets Protected Bitcoin
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So I was wondering what you think of the recent black outs in China. They have like half the hash rate on the BTC network so it negatively affected the network while they were down. Does this make you have any concerns? I think BTC will do good regardless but I would like it to diversify the hash rates so it won't be hit by this issue again.
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I think that yes ALOT of mining power sits in China because of their underutilized infrastructure and people are making the most of the energy premium but not everyone in the Chinese mining pools are based in China. I think there are mining operations that will jump if China shuts down and it will move up the price since there's more expensive energy being used.
I would like to see more diversified mining for sure, but as long as nodes are coming online all over the place the mining can still be centralised, all miners can do is mine blocks if they try to act out nodes can exclude them from the network
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