[2020-02-08] Police Shuts Down Bitcoin Mine Over Coronavirus

bbc.reporter

legendary

Activity: 2926

Merit: 1440

Quote from: stompix on February 12, 2020, 01:33:18 PM

Quote from: bbc.reporter on February 07, 2020, 08:58:22 PM

Where are those who are telling everyone that the corona virus will be good for bitcoin? Any world crisis creating event will never be good for anything. Those people creating those types of storyboards only want a pump.

It is good for bitcoin.
Shutting down Chinese farms means more decentrlization
So, it is good for bitcoin /s

Agreed, that would be good. However, the question and the criticism was targeted to those people who do not think and pump the idea that a crisis would be always good for bitcoin's price because bitcoin can fix this.

Theb

hero member

Activity: 1680

Merit: 655

Quote from: 1Referee on February 12, 2020, 05:19:23 AM

I wouldn't really count on less restrictive actions for a while, because when you loosen the actions taken, people will automatically start to continue living their life the normal way, thus increasing the odds of new infections. China as paranoid as they are, will definitely not let that happen so they will continue their current approach as it seems to be effective.

Looking at the current hashrate, it's fairly stable so there doesn't seem to be much of an actual impact at all. As the price continues to go up, more gear will be put to work, so whatever gear ends up getting turned off, the effect will be nullified by the gear being turned on.

What we just know is what the Chinese media is feeding us but judging what the media's confessions and whistle blower testimonies we are seeing around the internet the current situation in China is far worse than we think that's why we are seeing these kinds of moves done by the authorities like closing business operations and locking down regions/provinces. We don't know the current situation or how worst the disease is happening in China that's why we are seeing this mining farm shutdown as some kind of excessive action done on their part but what they might be doing is just right based on what they know. We are still really clueless here but I do think they are doing extra added steps just to avoid the spread of this outbreak.

stompix

legendary

Activity: 2828

Merit: 6108

Blackjack.fun

Quote from: bbc.reporter on February 07, 2020, 08:58:22 PM

Where are those who are telling everyone that the corona virus will be good for bitcoin? Any world crisis creating event will never be good for anything. Those people creating those types of storyboards only want a pump.

It is good for bitcoin.
Shutting down Chinese farms means more decentrlization
So, it is good for bitcoin /s

Quote from: Lucius on February 11, 2020, 08:09:01 AM

Saint-loup, article you posted is from 7.2.2020, just one day after one posted in OP, and only new thing what I learned from this other article is that "the local authorities of Sichuan province" closed some mining farms back in December due to the dry season and lack of electricity. Maybe this is case even now, and allegedly shuts down of that mining farm in fact it only has indirect connections with virus (described in my previous post).

Probably not related
According to people on weibo the mine is in Zhundong, Xinjiang and that region is full of cheap coal mines and power plants, almost the same as bitmain's Oros region.
I will blame probably authorities paranoia in this case.

ps.
One really good comment from weibo:

Quote

Can you guarantee that the BTC that is dug out will not carry viruses?

LE:
This is translated with google, but its another post from him

Quote

We have a lot of mines in Sichuan, Yunnan, Xinjiang, and Inner Mongolia, so we know that the situation in the front line is very bad. Traffic and materials in various places were cut off, people could not be moved (Xinjiang's most exaggerated, and those who took it away for 20 days before isolation) could not resume work.

Our mine is okay. We left half of our staff on duty a year ago. Now that we do n’t have enough staff, it ’s just that the online rate of the mining machine is poor. The main impact is that some mines that stopped construction and blacked out, and thousands of mining machines could not be transferred.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: bryant.coleman on February 11, 2020, 09:30:57 AM

The number of deaths are on the increase, but the number of new infections have been on the decline for the past few days. So I assume that there will be less restrictive actions from the government, especially in provinces other then Hubei.

I wouldn't really count on less restrictive actions for a while, because when you loosen the actions taken, people will automatically start to continue living their life the normal way, thus increasing the odds of new infections. China as paranoid as they are, will definitely not let that happen so they will continue their current approach as it seems to be effective.

Looking at the current hashrate, it's fairly stable so there doesn't seem to be much of an actual impact at all. As the price continues to go up, more gear will be put to work, so whatever gear ends up getting turned off, the effect will be nullified by the gear being turned on.

bbc.reporter

legendary

Activity: 2926

Merit: 1440

Quote from: davis196 on February 10, 2020, 08:49:01 AM

Quote from: hugeblack on February 09, 2020, 05:54:08 AM

Those sites are trying to profit from any hot headline, especially Bitcoin and Coronavirus.
Assuming the news is correct, how many farms have been closed, one, two, ten? Does it make a difference?
China is going through an emergency and even the farms that were closed because of the virus, but this does not mean that it has been closed forever, it will return to work again. The vacation in China will end today, the closure may last for another week, but the major companies are operating normally with no delay.

In short, the news to attract views.

That's right and I think that we are focused way too much on this "how corona virus will affect bitcoin and mining?" topic.People are dying from the virus and the only thing we care about is the impact of the virus over Bitcoin.This is ridiculous.Bitcoin is doing just fine.There's no need to spread panic and trust some probably fake news.Even if the mines are shutdown,this won't last forever.

It is only news and speculating on what might occur next. What is worse are those people who spins a crisis into good news for bitcoin's price because bitcoin can fix everything.

Saint-loup

legendary

Activity: 2604

Merit: 2353

Quote from: Lucius on February 11, 2020, 08:09:01 AM

Saint-loup, article you posted is from 7.2.2020, just one day after one posted in OP, and only new thing what I learned from this other article is that "the local authorities of Sichuan province" closed some mining farms back in December due to the dry season and lack of electricity. Maybe this is case even now, and allegedly shuts down of that mining farm in fact it only has indirect connections with virus (described in my previous post).

Quote from: bryant.coleman on February 10, 2020, 10:43:23 AM

This means that the mining farms in Sichuan, Gansu.etc will resume their operations pretty soon.

That remains to be seen, I think the virus situation is far from resolved, and that the farms shutdowns actually stems from the fact that electricity needs have increased in addition to the dry season, which means that the production of energy from hydropower plants is significantly reduced.

Ok thank you for the informations, I wasn't aware of that. Well there seems to be some fud currently with the coronavirus even if it's a serious situation.

Harlot

hero member

Activity: 1806

Merit: 671

Quote from: gentlemand on February 08, 2020, 07:36:21 AM

Don't get it.

It's not as if there's hundreds of people coming and going on a daily basis. It's probably a few worker bees locked in a warehouse trying not to go deaf. There's no stock deliveries. It looks like no one goes home at night and there probably aren't very many people there in total anyway.

Even though the article stated that their miner is located in Wuhan I'm guessing it is located around or near the Wuhan and Hubei province so any kind of activities or unnecessary things like this would be shutdown. The lock down they are doing is not only in the Wuhan province itself but any location around it so they are really limiting any kind of activities even schools are shut down to lessen the risk of infection. I know that this is big since from what I know BTC.top is one of the biggest mining pools out there and one hit of at least a few of their miners would decrease the hashrate we have, the longer the duration of their closure and also additional mining farms in China being shutdown would be catastrophic to us.

bryant.coleman

legendary

Activity: 3654

Merit: 1217

Quote from: Lucius on February 11, 2020, 08:09:01 AM

That remains to be seen, I think the virus situation is far from resolved, and that the farms shutdowns actually stems from the fact that electricity needs have increased in addition to the dry season, which means that the production of energy from hydropower plants is significantly reduced.

Most of the energy in China is generated from the thermal power-plants, and in case the hydroelectric plants are operating below capacity then that should be made up by the other sources. The government is claiming that the spread of the virus is slowing down significantly. The number of deaths are on the increase, but the number of new infections have been on the decline for the past few days. So I assume that there will be less restrictive actions from the government, especially in provinces other then Hubei.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Saint-loup, article you posted is from 7.2.2020, just one day after one posted in OP, and only new thing what I learned from this other article is that "the local authorities of Sichuan province" closed some mining farms back in December due to the dry season and lack of electricity. Maybe this is case even now, and allegedly shuts down of that mining farm in fact it only has indirect connections with virus (described in my previous post).

Quote from: bryant.coleman on February 10, 2020, 10:43:23 AM

This means that the mining farms in Sichuan, Gansu.etc will resume their operations pretty soon.

That remains to be seen, I think the virus situation is far from resolved, and that the farms shutdowns actually stems from the fact that electricity needs have increased in addition to the dry season, which means that the production of energy from hydropower plants is significantly reduced.

bryant.coleman

legendary

Activity: 3654

Merit: 1217

A lot of people were complaining about the dominance of the Chinese in Bitcoin mining sector. Perhaps they will be satisfied with the drop in hash rate now. But all of us need to remember that this is just a temporary drop. The stats regarding Coronavirus from the last few days indicate that the Chinese authorities have managed to contain the epidemic. Now it is mostly limited to the province of Hubei in Central China. This means that the mining farms in Sichuan, Gansu.etc will resume their operations pretty soon.

Saint-loup

legendary

Activity: 2604

Merit: 2353

In this article Jiang Zhuoer says his mining farm has been shutdown certainly just because all the factories of the area have been closed with no exceptions.

“Maybe all the other factories have been shut down, and we are no exception,” Jiang added.
https://www.financemagnates.com/cryptocurrency/news/china-shuts-bitcoin-mining-farms-following-coronavirus-epidemic/

gentlemand

legendary

Activity: 2590

Merit: 3008

Welt Am Draht

Quote from: davis196 on February 10, 2020, 08:49:01 AM

That's right and I think that we are focused way too much on this "how corona virus will affect bitcoin and mining?" topic.People are dying from the virus and the only thing we care about is the impact of the virus over Bitcoin.This is ridiculous.Bitcoin is doing just fine.There's no need to spread panic and trust some probably fake news.Even if the mines are shutdown,this won't last forever.

It taps into the OG bitcoiner fondness for wishing doom and conspiracy mindedness. It's a really, really unattractive look. I can imagine thousands of fingers rushing to thousands of shafts and yanking furiously with every bit of misinterpreted or plain fictional 'news' that hits their feeds.

It definitely will affect conventional economies so it's worth pondering whether that'll do anything to crypto. Beyond that it makes me want to put a lot of people on ignore.

davis196

hero member

Activity: 2968

Merit: 913

Quote from: hugeblack on February 09, 2020, 05:54:08 AM

Those sites are trying to profit from any hot headline, especially Bitcoin and Coronavirus.
Assuming the news is correct, how many farms have been closed, one, two, ten? Does it make a difference?
China is going through an emergency and even the farms that were closed because of the virus, but this does not mean that it has been closed forever, it will return to work again. The vacation in China will end today, the closure may last for another week, but the major companies are operating normally with no delay.

In short, the news to attract views.

That's right and I think that we are focused way too much on this "how corona virus will affect bitcoin and mining?" topic.People are dying from the virus and the only thing we care about is the impact of the virus over Bitcoin.This is ridiculous.Bitcoin is doing just fine.There's no need to spread panic and trust some probably fake news.Even if the mines are shutdown,this won't last forever.

hugeblack

legendary

Activity: 2506

Merit: 3645

Buy/Sell crypto at BestChange

Those sites are trying to profit from any hot headline, especially Bitcoin and Coronavirus.
Assuming the news is correct, how many farms have been closed, one, two, ten? Does it make a difference?
China is going through an emergency and even the farms that were closed because of the virus, but this does not mean that it has been closed forever, it will return to work again. The vacation in China will end today, the closure may last for another week, but the major companies are operating normally with no delay.

In short, the news to attract views.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: pixie85 on February 08, 2020, 06:45:05 PM

They even said in the article that there were no new arrivals to the mine. They were locked up living inside the entire time the virus was active.

I think that the authorities simply didn't have a "procedure" for the cases the employees can stay safely in the facility for months. Or didn't believe the claims of the owners.

pixie85

hero member

Activity: 2128

Merit: 524

Quote from: gentlemand on February 08, 2020, 07:36:21 AM

Don't get it.

It's not as if there's hundreds of people coming and going on a daily basis. It's probably a few worker bees locked in a warehouse trying not to go deaf. There's no stock deliveries. It looks like no one goes home at night and there probably aren't very many people there in total anyway.

They even said in the article that there were no new arrivals to the mine. They were locked up living inside the entire time the virus was active.

I'd say the visit by these authorities that wanted to shut it down made them much more vulnerable because the people who came could have brought the virus into the mine and those employees will now have to travel back home which will force them to interact with people in train stations and streets. They were perfectly safe in that mine as long as they had food and water.

dunfida

legendary

Activity: 3080

Merit: 1131

Everything would be connected when an epidemic rises and do talk about quarantine matters.Either a facility do have more or less employees they would be still subject on such closure or stop operation.Im not surprised imho.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: gentlemand on February 08, 2020, 07:36:21 AM

Don't get it.

It's not as if there's hundreds of people coming and going on a daily basis. It's probably a few worker bees locked in a warehouse trying not to go deaf. There's no stock deliveries. It looks like no one goes home at night and there probably aren't very many people there in total anyway.

it's not totally clear, but it may have do to with quarantine policies implemented at the municipal/provincial levels, which may be getting stricter. perhaps the operators of this farm are accused of violating a quarantine. maybe the farm is in a place like guizhou and they are accused of bringing too many employees on site. this is from another coindesk article:

Quote

Two-thirds of the company’s employees did not go home for the Chinese New Year, and have instead been working at the mining sites. However, for those who did go home it will take weeks to return to work, Yang said.

Many cities now require a two-week quarantine for people coming back from other areas before letting them go back to work, he said.

For example, the Xinjiang autonomous region, an area that hosts a significant portion of mining farms due to its cheap electricity, has implemented strict policies to quarantine not only those coming back from the Hubei province, where Wuhan is located, but also any other province or region, Yang said.

“We asked our employees to come back to Xinjiang as early as possible so that they can start the two-week quarantine and go back to work,” Yang said, noting policies may vary among different areas in China.

The company’s mining farm in Guizhou is subject to a stricter policy. “We are allowed to let our employees work on site and can only keep a few people to maintain the operation,” he said.

Sichuan province, which controls over 50 percent of bitcoin’s hashrate, also requires the two-week quarantine, according to Yang.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: gentlemand on February 08, 2020, 07:36:21 AM

Don't get it.

I think the real reason for the closure may be lost in translation, because what can be read in the article really doesn't make sense. If workers are permanently on the farm, what risk do they pose for spreading the virus?

It is possible that the farm has been closed because electricity needs have increased in the region, with existing and new hospitals operating at increased capacity and people stay at home. In such situations, priorities must be determined, and one of them is certainly electricity, which must be distributed where it is most needed. Crypto mining farms at this moment are definitely not a priority.

gentlemand

legendary

Activity: 2590

Merit: 3008

Welt Am Draht

Don't get it.

It's not as if there's hundreds of people coming and going on a daily basis. It's probably a few worker bees locked in a warehouse trying not to go deaf. There's no stock deliveries. It looks like no one goes home at night and there probably aren't very many people there in total anyway.

Topic: [2020-02-08] Police Shuts Down Bitcoin Mine Over Coronavirus (Read 224 times)