Let's put this simply and summarize what it means...
🇷🇺 Russia announced a six-year ban on $BTC mining in ten key regions, starting from Jan 1. They said this decision was made due to concerns over energy consumption and shortages... affecting both mining pool activities and individual miners.
The ban will extend until March 15, *2031... yes you read this right... 2031. With seasonal restrictions from November 15 to March 15 each year in certain Siberian regions during peak energy usage periods.
{spot}(BTCUSDT)
What's next??
Now, you might think, "Oh crap, Bitcoin's going down!" But here's the twist - the global hash rate might just shrug it off. Miners could be packing their rigs to countries that still got love for crypto, maybe to chill in Kazakhstan or party in Texas.
This could stir up some wild price swings in the short run, like a roller coaster at a crypto carnival. But long-term? Bitcoin's been through WORSE, and unless the world decides to follow Russia's lead, it might just be another day at the blockchain office.
So, keep your eyes peeled for where those miners set up shop next. It's like watching a game of musical chairs, but with supercomputers and a lot more at stake. Will Bitcoin adapt, or will this be the plot twist that changes everything? Stay tuned, because the crypto world loves a good challenge.
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