Topic: AGAIN: China says it wants to eliminate bitcoin mining - page 3. (Read 11285 times)
Most of the governments are afraid of bitcoin and other cryptocurrencies as they think they might overtake the financial situation of the country and they will loose to this decentralized virtual currency over which they will have no control.They are not making any regulations or ban regarding other production industries which are creating more pollution and having effect on environment but they are trying to ban the crypto industry which will make them economically strong.They need to think this.
This sure as hell isn't an ecological concern. China never cared about these things, and is well-known for being one of the most serious polluters in the world. I am pretty sure that the main pollution is not due to crypto mining. I bet China just can't bear the idea of something that cannot be controlled and traced to specific people.
As a well-known human rights abuser, this country is knowing too much about its citizens and wants it to stay this way.
As a well-known human rights abuser, this country is knowing too much about its citizens and wants it to stay this way.
Environment my ass. Their smog reaches as far as Korea. It's all about money. They stopped taking in garbage because it's no longer profitable for them. You can bet they would've kept at it if there's money to be made.
Same with this one. They used to talk a lot about money laundering before. The argument about environment is weak since China is trying to posture itself as an innovator in green tech. Bitcoin mining on requirees electricity, shouldn't it be able to continue operation and just use those green energy sources? They just feel threatened of having an alternative currency, and therefore economy. It's still an authoritarian regime after all.
Same with this one. They used to talk a lot about money laundering before. The argument about environment is weak since China is trying to posture itself as an innovator in green tech. Bitcoin mining on requirees electricity, shouldn't it be able to continue operation and just use those green energy sources? They just feel threatened of having an alternative currency, and therefore economy. It's still an authoritarian regime after all.
Oh, China, spreading FUD right when the bullish sentiment is surrounding the market...like clockwork 
They still think they hold the same level of influence over the market lol
They did the same thing in 2017 when the btc price began its upward movement, they started a crackdown on crypto exchanges, the ICO ban...And how did the market react? Price skyrockets a few weeks later.
They still think they hold the same level of influence over the market lol They did the same thing in 2017 when the btc price began its upward movement, they started a crackdown on crypto exchanges, the ICO ban...And how did the market react? Price skyrockets a few weeks later.
All governments in the world treat negatively cryptocurrencies and Bitcoin
You sure about that? Off the top of my head, Switzerland, Japan, South Korea, US, Australia, Singapore, are some crypto friendly countries, so not all govt have a negative view on cryptos. 
They just contradict themselves again. Why don't they just say "we are shutting bitcoin mining in our country because we hate it", a simply statement like that would be easy to understand. But playing the environment card? They are amongst the the top three greenhouse gas emitters in the planet for God's sake. They should look for their problems and prioritizes it and not blame bitcoin mining.
China plans to close the bitcoin-producing mine because it makes electricity consumption more wasteful and includes risky investments. This is in line with the judgment of the authorities that digital currency (cryptocurrency) is not a strategic industry. China itself is not a suitable place to build a digital currency mine.
Such statements were also made by China in the past I think if I am right they have banned cryptocurrencies there. Banning BTC mining will not have much affect on crypto market due to its decentralize nature. Not only China but many other developing countries see BTC a threat to their own currency this may be the reason behind such statements. In real scenario BTC is being accepted by mahy big names and many countries like Japan, blockchain technology is being implemented by many big banks so the day is not far behind when China will accept BTC existence.
If they're really ban mining, would BTC go up because of supply shortage or go down, because of "regulation" and then go up again when all panicked-citizen sell to people who understand its value?
It doesn't matter if China says they want to eliminate bitcoin mining because bitcoin is not only on China. There are many other people from another country that was still mining bitcoin. That will reduce a big hashrate from China, and I think that is the opportunity for other people to increase their hashrate too and of course the rewards from bitcoin mining. And if China finally shut down the bitcoin mining in that country, then their people will lose the opportunity to gain the benefits from bitcoin and other people will take those benefits.
We shouldn't be shocked of this type of noise within the Chinese government, given that bitcoin is very energy-intensive and at some point the cash-strapped or debt-laden country has to figure out how to best allocate its resources. What I'd like to see globally is greater use by miners of renewable energy.
typical Capitalsm nation, fear with people's power . unfortunately who's live in there
All governments in the world treat negatively cryptocurrencies
Really? All of them?
well it's just a draft.....and it looks like the commission is seeking public comment on the list. things like this can change in the blink of an eye in china.
Public opinion in China, choose option A or B:
A) I agree with the goverment
b) I agree with the goverment
I never agree that China or India, or even any other developing country needs to care SO much about the environment and sacrifice their industrial outputs and productivity,,, remember it is easy for developed nations to say they take care of the planet, but it was them who killed all their wildlife and burned down all their forests and polluted all their rivers,,, then also came to Asia and Africa to take resources.
The thing is that developing nations have done this also.
Killing wildlife? The moa was exterminated by the Maori in 1300. Who brought the giant panda on the brink of extinction?
From my point of view keep industrializing in China and India, turn your counties into a garbage pile of uninhabitable land.
One your reach a developed country rank you will realize that nobody wants to live there.
Bitcoin actually pose no threat to their environment as long as the miners are paying their electricity bills and not stealing power.
Realy, so if I dump car oil in a river is ok, cause I paid for it?
Miners can move to Hong-Kong and nearby countries should this happen, which I believe is not going to happen.
Hong Kong has no renewables, all the energy is gas and coal and is just as expensive as the US.
Now back to China does.. China will do...
Who still gives a damn what China does?
This can be a great opportunity for small time miners. If the chinese government will continue to shutdown and ban crypto then we are starting to go back with the decentralized mining.
Don't be fooled tho by the chinese FUD, it already happened during 2017 where people is doing panick selling. If this is going to happen again then this price bubble might continue despite the fact that we are going on pump recently so please don't
Don't be fooled tho by the chinese FUD, it already happened during 2017 where people is doing panick selling. If this is going to happen again then this price bubble might continue despite the fact that we are going on pump recently so please don't
But at the same time,,, China pretending to care about the environment is too silly!
It is silly, but they know playing Bitcoin's environmental danger card helps them winning some votes because this is something that also plays an important role politically outside China.The good thing however is that more and more people start to ignore everything around Bitcoin and its energy consumption, because they are educated enough to poke through this political circus show.
People also know that China's industry is one of the main environmental disasters in the world, so all China does is make itself look like a hypocrite that is only out to block that what it doesn't like.
They do it every few months, that's not even affecting the price anymore.
Easy to understand why China Policy is not compatible with cryptocurrencies, they should just say it.
Yeah, many news like this before and yet the price are not dumping much. China is just one country, we know that we have a lot of investors in different country especially in Europe and of course the USA. They will not succeed to fully eliminate mining on their place because there people knows the opportunity in this market, for sure they will make a new rules in favor to cryptocurrency later on. Easy to understand why China Policy is not compatible with cryptocurrencies, they should just say it.
the price did drop a bit before after a a news where china bans ico's but the price did recover after a few weeks . i bet the same thing also happens after this news , only if the rumored news was confirmed to be real and not just a hoax . the good effect is that mining diffculty could also be lessen which is good if ever other miners will quit on mining a coin especially if its in bitcoin .
They do it every few months, that's not even affecting the price anymore.
Easy to understand why China Policy is not compatible with cryptocurrencies, they should just say it.
Yeah, many news like this before and yet the price are not dumping much. China is just one country, we know that we have a lot of investors in different country especially in Europe and of course the USA. They will not succeed to fully eliminate mining on their place because there people knows the opportunity in this market, for sure they will make a new rules in favor to cryptocurrency later on. Easy to understand why China Policy is not compatible with cryptocurrencies, they should just say it.
I never agree that China or India, or even any other developing country needs to care SO much about the environment and sacrifice their industrial outputs and productivity,,, remember it is easy for developed nations to say they take care of the planet, but it was them who killed all their wildlife and burned down all their forests and polluted all their rivers,,, then also came to Asia and Africa to take resources.
But at the same time,,, China pretending to care about the environment is too silly!
But at the same time,,, China pretending to care about the environment is too silly!
They do it every few months, that's not even affecting the price anymore.
Easy to understand why China Policy is not compatible with cryptocurrencies, they should just say it.
Easy to understand why China Policy is not compatible with cryptocurrencies, they should just say it.
This is a pure act of witch hunting by the Chinese government. Bitcoin actually pose no threat to their environment as long as the miners are paying their electricity bills and not stealing power. The truth is that the government is scared because they have no control over the bitcoin and they had expected it will would die before now, yet it keeps rising. Why can't the Chinese government just allow the people to be and decide their freedom themselves? Miners can move to Hong-Kong and nearby countries should this happen, which I believe is not going to happen.
Honestly, why do people care so much about what China feels about the cryptocurrency market? They clearly do not like Bitcoin and the crypto market which is why I do not find this news surprising to say the least.
China is home to the largest mining gear manufacturers, mining pools and purportedly hash rate. Adverse actions from the Chinese government could have significant and sudden effects on the mining sector, which could cause panic in the market. I don't think this would be the end of the world, but I think it would shake up the market quite a bit.
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