China Bans Bitcoin Mining? Rumors Fly as Notices Appear In Press
Chinese Bitcoin mining farms are reportedly receiving immediate cease and desist notices from authorities.
Evidence surfacing on Twitter added to an article from local news outlet Caixing today, which stated electricity supplier in Szechuan province had said Bitcoin mining was now “illegal.”
“Immediately stop supply power to bitcoin mining businesses upon receiving this notice,” a translated notice proclaiming the ban uploaded by 8btc and translated on Twitter states.
http://bitcoinist.com/china-bans-bitcoin-mining-rumors/
Chinese Bitcoin mining farms are reportedly receiving immediate cease and desist notices from authorities.
Evidence surfacing on Twitter added to an article from local news outlet Caixing today, which stated electricity supplier in Szechuan province had said Bitcoin mining was now “illegal.”
“Immediately stop supply power to bitcoin mining businesses upon receiving this notice,” a translated notice proclaiming the ban uploaded by 8btc and translated on Twitter states.
http://bitcoinist.com/china-bans-bitcoin-mining-rumors/
If this news should have any element of truth in it confirmed by one of the already known bitcoin mining company, then there is serious trouble knocking but if it be true, the community would have caught the fever and price take a drastic impact by retrogressing rapidly. Mining is the whole purpose of bitcoin because without it, there is no bitcoin to start with then the ones already mined, will not be confirmed as at when due. This will mean the end is near for bitcoin because a lot of people will start to other alternatives.
The effect, I see it much more than it happen when they ban on exchange filtered the air waves but this will make the previous impact a childish dream compared to what's coming.
