Good day reddit,
After I was studying about bitcoin & the expertise behind its growth. I believed the nation which has essentially the most highly effective processors, gears to mine bitcoin will mine extra bitcoins in comparison with different international locations.
That led me into pondering that if that is so then many international locations will simply be the “bitcoin consumers” if costs maintain growing.
To make clear my ideas: For eg. USA has higher tech than India. The miners of the USA can mine bitcoins sooner than India’s. And Bitcoins have fastened provide so worth will increase as demand will increase. Now somebody from India needs to purchase bitcoin then he/she is going to get it from one other nation’s miners. Right here USA. And as an instance in some unspecified time in the future all of the USA’s bitcoin flows to India and the USA stops accepting bitcoin as a foreign money. That will likely be an enormous loss for Indians. Right here I’ve simply taken two international locations. However I’m speaking basically about sluggish mining international locations vs quick mining international locations.
Then I believed, “title of this publish”.
My ideas may be dumb. If I’m incorrect wherever assist me, right me.