:https://twitter.com/TheRealXinxi/status/930400102358794245
- TheRealXinxi
If the letter is real, it's from a Chinese province declaring bitcoin mining illegal.
Short term, this is of course bearish for BTC. Without Chinese miners, Bitcoin would likely be a distant second in hashpower to BCH (at least during the easier phase of the difficulty adjustments) until operations came online elsewhere.
In the medium term, though, it's also bearish for BCH. Although bitcoin.com is outside of China, both coins will lose vast amounts of hash - just because BCH loses less doesn't mean it's unaffected.
In all likelihood, unless this later expands to cover all of China, it's much ado about very little. However, if it does, the big winner will likely be ETH, closely followed by other ASIC-resistant coins along with anything that isn't proof of work.
