I agree with your point of view. In my opinion, no matter which area the miners are, they are like gypsies. The gypsies are looking for water, and the miners are looking for cheap power. The panic created by China and Musk, China is relatively straightforward, saying that it is forbidden and forbidden, Musk is too fickle, and Musk makes people even more annoying. Musk is not like the richest man with a sense of responsibility, but more like a clown on stage.

It suffices to say that we now have less worries that whenever something big happens to China, man-made or natural, we won't be bothered anymore. A wider or more global distribution of mining is definitely much better. We can say a lot of things but if 65%-75% of Bitcoin's mining power is focused only in four provinces within a single country, it raises questions and probably anxieties. So miners leaving China towards different parts of the world is a welcome development.

Bitcoin was never centralized or Chinese to want to become decentralized and de-Chinese now!
China also never had as much hashrate as some people claimed, the mining pools do not own hashrate and the miners connect to them from all around the world.
As for the price drop which OP focuses on, it wasn't because of China or their ban of mining. Instead it was simply market manipulation because price had gone up a lot without a major crash for the market makers to make profit.

The concept of one country controlling the BTCitcoin hash rate is bullshit, anyone could invest million or billions and start their own mining farm and there was no restrictions about that and we saw Chinese investors investing millions and now people are portraying that the Chinese government was behind all these huge mining farms .

If you knew the meaning of decentralization you will not say the network is more decentralized now without China when you have one country less to distribute the network .

I think our worries about Chinese FUD are now over. It was horrible watching the price dump so hard & fast when the mining ban was confirmed but the first green shoots of recovery are now showing. I think you’re right OP, we shouldn’t be negatively affected by them any more. They've played their hand & they now have no part in the bitcoin financial revolution. I think they will regret it long term.

Why is Bitcoin going to be sinicized? Bitcoin itself is decentralized. I think if it is said that miners and mining pools are "de-sinicized", I can still accept it. Bitcoin is free, and he is still what he is. Unfortunately, some people guide maliciously and mislead people seriously by creating various messages.


Why is Bitcoin going to be sinicized? Bitcoin itself is decentralized. I think if it is said that miners and mining pools are "de-sinicized", I can still accept it. Bitcoin is free, and he is still what he is. Unfortunately, some people guide maliciously and mislead people seriously by creating various messages. Join China's total ban on all Bitcoin activities, and Bitcoin will continue to develop. I won’t look at the face of China. Maybe one day many countries will enter the Bitcoin field. At this moment, Bitcoin will say SORRY to China. For example, even if Tokyo bids for the Olympics, I still don’t like the opening ceremony of the Tokyo Olympics. , Qun Demon Flurry, I am not more interested.

I wouldn't celebrate the fact that more than a billion people won't have an opportunity to easily buy and sell Bitcoin and use it as a currency. Of course the exodus of miners from China is the only logical thing, but it shouldn't be viewed as some grand goal that we always wanted to achieve. Ideally, Bitcoin would be legal and not overly regulated everywhere and people would be free to mine so they can get the cheapest electricity possible. If more large countries will ban Bitcoin (which right now is not likely), that could introduce centralization, as miners will have less options for choosing their location.