The Impact of Capital Controls on Bitcoin Mining

China for the longest time was the biggest center for Bitcoin mining. But in 2017, Beijing came out and said you know, we're tired of people sending their R&B to a cryptocurrency exchange buying Bitcoin and pulling it off because you're circumventing our capital controls. And so they said, okay, you can't use the top four cryptocurrencies to do this anymore. That was like Bitcoin, Litecoin,. I can't even remember what the other ones are. You know, nobody really uses them. It just squeaked out on that list. So when you look at the price action on Ethereum, within two days of this currency control restriction being in place for Bitcoin, Litecoins, and