Kazakh Mining Slide Offers Lesson for US Lawmakers

That a dictator from the latter could single-handedly cause such a contraction in the network doesn’t necessarily undermine the thesis that this more decentralized, diversified geographic spread is more secure. After all, the Kazakh hashrate closure – most likely temporary – was nowhere near as disruptive as China’s more permanent move to shut down 50% of the network. Nonetheless, it brings home certain grounded realities often overlooked by crypto utopianists, who portray Bitcoin ( $0.00 ) as an unstoppable, independent system for human beings to autonomously store and exchange value.