Bitcoin maintainer Marco Falke reveals it could benefit the bitcoin if the Chinese government would follow through with plans to curb bitcoin miners’power supply. Chinese mining is considered providing more than half the global bitcoin network power, called hash rate. “A centralized hash rate endangers the security of the whole bitcoin network,” Mr Falke told German business magazine WirtschaftsWoche in an exclusive interview. “As soon as miners are migrating from China to several other countries with cheap electricity bitcoin will become truly decentralized again.”
For the 26-year-old German, who graduated from TUM University Munich in 2017, the vast amount of energy needed to keep bitcoin running ensures user security against attacks. “I think it is important to support one leading global cryptocurrency only, instead of wasting the globally available hash rate on hundreds of different cryptocurrencies. Bitcoin’s hash rate is still second to none in terms of miners supporting it, which makes it the most secure cryptocurrency available.”
Mr Falke is one of three bitcoin maintainers currently coordinating the global open source software development. A role that was first administered by bitcoin founder Satoshi Nakamoto. He said: “Neither a trading ban in South Korea nor the elimination of Chinese mining facilities will negatively affect the bitcoin in the long term. Politicians won’t endanger the success of bitcoin. Its supporters are not buying in for a short-term gain. They believe in the endurance of the project and consider it an alternative to our current financial system.”
You may read the complete interview in english here:
