In light of the news that the blackout in China cause the overall hash rate dropped 45%, and it was just one Province in China which means the overall hash rate by Chinese mining farm and pool is well over 50%.
I can’t help but feel a bit uneasy with this. I always knew China has a centralized hashing monopoly but didn’t really click with me until the blackout.
Utlimately BTC is China.
And China is the CCP government.
As much as we think crypto is decentralized but ultimately the chinese government controls the very nature of how the blockchain is being secure is a bit frightening.
View Reddit by rrdonoo – View Source