{"id":291807,"date":"2021-07-06T14:06:33","date_gmt":"2021-07-06T11:06:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/china-proves-bitcoin-is-an-unstoppable-machine-bitcoin-center-founder\/"},"modified":"2021-07-06T14:06:33","modified_gmt":"2021-07-06T11:06:33","slug":"china-proves-bitcoin-is-an-unstoppable-machine-bitcoin-center-founder","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/china-proves-bitcoin-is-an-unstoppable-machine-bitcoin-center-founder\/","title":{"rendered":"# China proves Bitcoin is an unstoppable machine: Bitcoin Center founder"},"content":{"rendered":"<p>&#8220;<strong># China proves Bitcoin is an unstoppable machine: Bitcoin Center founder  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvZjYzMjUxNmItMzFiNy00NjViLTg1ZGUtMTUyNzJhMjZlNzQ3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>China\u2019s crackdown on Bitcoin (BTC) mining continues to face determined responses across the crypto ecosystem. One of the first BTC exchange operators and co-founder of Zap Protocol, Nick Spanos, said that the crackdown only proves Bitcoin is an unstoppable machine \u201cif the world\u2019s second-biggest economy can\u2019t crush, devalue and manipulate Bitcoin.\u201d<\/p>\n<p>Noting that the crackdown is increasing scarcity due to there being fewer miners relative to the transaction volume, Spanos underscored the increase in miners\u2019 profits while the mining difficulty continues to decrease. He explained:<\/p>\n<blockquote><p>\u201cBitcoin\u2019s algorithm adjusts roughly every two weeks to allow one block of transactions to be mined every 10 minutes. So, it\u2019s become both easier and more profitable to mine Bitcoin. That\u2019s a recipe for enticing more miners back in.\u201d<\/p><\/blockquote>\n<p>Spanos said miners moving out of China will seek to find a place with im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te neighbors, such as Kazakhstan, Iran and Russia. \u201cOthers in the region would also be well-served to seize this opportunity,\u201d he added. Recently, one of the major mining groups operating in China announced its plans to move out of the country and\u00a0distribute its mining operations among the United Arab Emirates, Canada, the United States, Kazakhstan and Iceland.<\/p>\n<p>Spanos noted that Bitcoin\u2019s price has always gone up once regulatory setbacks are \u201cdigested by the community.\u201d\u00a0<\/p>\n<p>Last week, Galaxy Digital CEO Mike Novogratz saw \u201ca big net positive\u201d for Bitcoin in China\u2019s crackdown attempt. He said that the market crash from an all-time high followed by high volatility was a successful test for the crypto ecosystem as a whole. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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One of the first BTC exchange operators and co-founder of Zap Protocol, Nick Spanos, said that the crackdown only proves Bitcoin is an unstoppable machine \u201cif the world\u2019s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":291808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvZjYzMjUxNmItMzFiNy00NjViLTg1ZGUtMTUyNzJhMjZlNzQ3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,102647,75042,4973,70934],"class_list":["post-291807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-crackdown","tag-mining","tag-china","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/291807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=291807"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/291807\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/291808"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=291807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=291807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=291807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}