RE: Market Took a Huge Dip But We Shouldn't be Selling in Panic : Get Relax and Hold
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I heard that less miners means less difficulty, so if China shuts them down, the mining will be easier for the remaining miners, and the total supply limit will still stay at 21 million, so that would not make BTC more rare.
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It seems a little counterintuitive at first but I think you're right. Less miners racing to compete lowers the difficulty. The panic shows how weak some of the hands are at these prices.