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Bostonian
Is this bearish for Bitcoin because it reduces the legitimacy of the currency or bullish because it reduces the supply?
CountSessine
With that much computing power taken out of the network, how does this affect the network’s ability to even make a quorum?
nicbou
Wouldn't it reduce its credibility as a currency or value store if it slowly gets regulated out of relevance?
everybodyknows
Can it really be that China is now moving ahead of the US both in financial regulation, and in environmental responsibility?

> The government will “crack down on bitcoin mining and trading behavior and resolutely prevent the transfer of individual risks to the society”

> In upstate New York, a private equity firm bought and revamped an abandoned power plant just to mine bitcoin.

randomhodler84
It is nothing to do with the environment, and everything to do with ensuring and retaining control of their money through their central bank digital currency.