What Will Miners Do In Case Russia Bans Cryptocurrencies?


VIP Contributor
Mining is considered as one of the biggest reasons why the cryptocurrency network exist. Mining enables successful transfer of cryptocurrency and a proper circulation of cryptocurrency in the network. Recently, we have seen the cryptocurrency mining getting crashed due to the fact that The Russia's central bank has suggested the government to ban cryptocurrencies in the state. Indeed, this is a really concerning decisions for the miners in the country. In the past, many countries have banned cryptocurrency mining and the miners had no choice but to move away from the country.

We should note that Russia is a country which is a home to world's third huge mining farms. In case Russia bans mining activities, cryptocurrency network could be affected and the market will crash in a saddening way. Investors have already lost more than 1.4 trillion dollars right now. It is not a difficult choice for Russia to ban cryptocurrency if they believe that cryptocurrency is indeed harming their economy, but I really do not see how can cryptocurrency "harm" the economical progress of a country. So, do you think that Russia will actually ban cryptocurrency altogether? What will miners do in case Russia bans cryptocurrency? Please share your thoughts.