Topic: BTC to 50K, China banned miners - page 2. (Read 11408 times)
I'm not sure if China banned miners up to 70% and hopes that bitcoin will reach $ 50k in a fast time, bitcoin is currently hoping on sales and purchases so I think this might be one of the things that can't be predicted whether it can run well or not.
Bitcoin price going up to $50,000 in just a short span of time is a dream. This might take time, it's too hilarious too think that the price of bitcoin will grow that much just because China shut down 90% miners. This will also cause a huge problem with regards to scalability and the price of transaction fee since there will only be lesser miners.
this might not make sense even though china crypto users are big in the world but by only closing 90% of miners I don't think anything will change or until bitcoin reaches $ 50k that's too much, and we think bitcoin won't go up that fast only with closure problems miner in china 
China banning miners is already irrelevant to the Bitcoin ecosystem. Before it was vital, but now because of numerous new mining farms cropping up across the globe, their ban is less effective. In fact, there will be a new mining hardware race where Chinese miners are just a small faction.
News from china banning bitcoins, china banning miners etc will have no effect now on bitcoin price. These were old days in 2015- 2017 where such news had a big impact on bitcoin prices.
In a way, it can affect the Bitcoin price. I think the demand for this cryptocurrency will start growing. Hopefully, we will really see BTC which is offered for 50 thousand, and not much time will pass before it happens.
35 days ago I started a thread and I told you btc will go 9k$ bcz china banned miners, but some of you dont believed me, Today BTC is 8100$ in some exchange, Here is that thread:
https://bitcointalksearch.org/topic/m.50545198
Now I have a good news , BTC to 50k$ bcz china banned miner, my friend in China confirmed 90% of miner in china are shutdown. BTC can easy go to 50K$ and more.
Less miners = More Demand = increasing price, as simple as that.
Nice idea but it may clog the network of bitcoin. Imagine the population of China and 90% of the miners will shutdown. It may devastate the network since miners are the key factor to send a certain transaction immediately. Well if that happens, I will stand and buy some rigs and mining stuffs so that I can mine in my country. Less miners, less competition and more income. https://bitcointalksearch.org/topic/m.50545198
Now I have a good news , BTC to 50k$ bcz china banned miner, my friend in China confirmed 90% of miner in china are shutdown. BTC can easy go to 50K$ and more.
Less miners = More Demand = increasing price, as simple as that.
China was once the largest bitcoin miners in the world even though generally their government doesn't recognise it.
This thread is funny to me, did any of you guys even look at bitcoin's hash rate? Oh and all the Chinese pools that are still mining right now you mean, those are the ones your friend said is down? Funny how people just say stuff and no one really looks. 
https://miningpoolstats.stream/bitcoin
Quote
my friend in China confirmed 90% of miner in china are shutdown
I just posted proof what OP posted is bullshit, refute it. https://miningpoolstats.stream/bitcoin 
35 days ago I started a thread and I told you btc will go 9k$ bcz china banned miners, but some of you dont believed me, Today BTC is 8100$ in some exchange, Here is that thread:
https://bitcointalksearch.org/topic/m.50545198
Now I have a good news , BTC to 50k$ bcz china banned miner, my friend in China confirmed 90% of miner in china are shutdown. BTC can easy go to 50K$ and more.
Less miners = More Demand = increasing price, as simple as that.
What if we use 100% of our brain? lolhttps://bitcointalksearch.org/topic/m.50545198
Now I have a good news , BTC to 50k$ bcz china banned miner, my friend in China confirmed 90% of miner in china are shutdown. BTC can easy go to 50K$ and more.
Less miners = More Demand = increasing price, as simple as that.
Have you heard anything about mining difficulty? Many miners = higher difficulty, less miners - low difficulty. If I could mine 1btc among 100 miners and now half of them are gone, situation has changed better for me and I can mine 2 btc instead of one. Also less difficulty opens path for others to join mining so this is just a task of time, difficulty will rise asap.
Also 90% of miners from chine can move their miners into areas where mining is legit and there are a lot of places, for those who had 1-2 antminer it doesn't worth but if I have 300 antminer, then I'll move of course and won't sell them. Consider this too while thinking around this task.
China banning miners is already irrelevant to the Bitcoin ecosystem. Before it was vital, but now because of numerous new mining farms cropping up across the globe, their ban is less effective. In fact, there will be a new mining hardware race where Chinese miners are just a small faction.
News from china banning bitcoins, china banning miners etc will have no effect now on bitcoin price. These were old days in 2015- 2017 where such news had a big impact on bitcoin prices.
35 days ago I started a thread and I told you btc will go 9k$ bcz china banned miners, but some of you dont believed me, Today BTC is 8100$ in some exchange, Here is that thread:
https://bitcointalksearch.org/topic/m.50545198
Now I have a good news , BTC to 50k$ bcz china banned miner, my friend in China confirmed 90% of miner in china are shutdown. BTC can easy go to 50K$ and more.
Less miners = More Demand = increasing price, as simple as that.
I have tried to follow this news when I come across your first post and I could not find reliable information and sources of information of this banning information! However, your prediction is on it way to come to pass as bitcoin is currently gathering great momentum for the next seriously bullish push which may make it to be heading towards $15000. If the information your friend is giving us are genuine then the supply will be limited which will give us more good prices in the future. https://bitcointalksearch.org/topic/m.50545198
Now I have a good news , BTC to 50k$ bcz china banned miner, my friend in China confirmed 90% of miner in china are shutdown. BTC can easy go to 50K$ and more.
Less miners = More Demand = increasing price, as simple as that.
China banning miners is already irrelevant to the Bitcoin ecosystem. Before it was vital, but now because of numerous new mining farms cropping up across the globe, their ban is less effective. In fact, there will be a new mining hardware race where Chinese miners are just a small faction.
Precisely, this banning issue don't have any big impact anymore from this industry, there's already lots of competitions and those bigminers are also aware that they can easily migrate if this will affects their businesses.
Maybe they want to mine by themselves without any citizen doing the same thing as them, and they want to collect the bitcoin for their own purposes.
But the banning itself will not give an impact to the bitcoin mining, and I hope that will attract the price to moves to the highest price.
China banning miners is already irrelevant to the Bitcoin ecosystem. Before it was vital, but now because of numerous new mining farms cropping up across the globe, their ban is less effective. In fact, there will be a new mining hardware race where Chinese miners are just a small faction.
Yeah it will definitely affect the price since i bet that they were quite a few but at the end nothing bad for the survival of it. Even if forbidden worldwide it would have the same effects than the alcohol prohibition in the United States back then.
So only one country, even if it's one with so much people like China is somewhat irrelevant. Have to make sure it continues that way. But at the end, Bitcoin's mining is not infinite at all.
35 days ago I started a thread and I told you btc will go 9k$ bcz china banned miners, but some of you dont believed me, Today BTC is 8100$ in some exchange, Here is that thread:
https://bitcointalksearch.org/topic/m.50545198
Now I have a good news , BTC to 50k$ bcz china banned miner, my friend in China confirmed 90% of miner in china are shutdown. BTC can easy go to 50K$ and more.
Less miners = More Demand = increasing price, as simple as that.
https://bitcointalksearch.org/topic/m.50545198
Now I have a good news , BTC to 50k$ bcz china banned miner, my friend in China confirmed 90% of miner in china are shutdown. BTC can easy go to 50K$ and more.
Less miners = More Demand = increasing price, as simple as that.
Correct
China banning miners is already irrelevant to the Bitcoin ecosystem. Before it was vital, but now because of numerous new mining farms cropping up across the globe, their ban is less effective. In fact, there will be a new mining hardware race where Chinese miners are just a small faction.
Precisely, this banning issue don't have any big impact anymore from this industry, there's already lots of competitions and those bigminers are also aware that they can easily migrate if this will affects their businesses.
China banning miners is already irrelevant to the Bitcoin ecosystem. Before it was vital, but now because of numerous new mining farms cropping up across the globe, their ban is less effective. In fact, there will be a new mining hardware race where Chinese miners are just a small faction.
Bitcoin mining will consume a lot of electricity in China. If this ban is actually implemented, it will push the price of Bitcoin to rise, not decrease. The loss of cheap electricity prices in China will actually increase mining costs which have a good impact on prices. It will also turn off the FUD (fear, uncertainty, doubt).
Less miners = more demand ?
Since when ?
Mining facilities are subject to availability of specific products and softwares it's not someone can do sitting at home , I know there are softwares like that but they provide no not profit.
Miners are like the bank that pores out Bitcoins outside for the public to buy , it unlocks it.
Therefore they are essentially not related to price in my view, they supply Bitcoin to general public , they are like people who are given a job by Bitcoins.
They get 12.5 BTC to complete one block approx idk what's the price right now.
Since when ?
Mining facilities are subject to availability of specific products and softwares it's not someone can do sitting at home , I know there are softwares like that but they provide no not profit.
Miners are like the bank that pores out Bitcoins outside for the public to buy , it unlocks it.
Therefore they are essentially not related to price in my view, they supply Bitcoin to general public , they are like people who are given a job by Bitcoins.
They get 12.5 BTC to complete one block approx idk what's the price right now.
bitcoin is a cryptocurrency which has very high volatility, but I'm not sure if the price will reach $ 50k.
the price is still stuck at $ 7k and to reach the price of $ 50k it's still very far away.
the price is still stuck at $ 7k and to reach the price of $ 50k it's still very far away.
Not really. There are other miners in the world bro. So the China thing doesn't shut down the BTC framework/ network. Yes, there are many miners in China but even at that, I believe some will find a way to bypass all the banning stuff. BTC is not looking close to $50k this year so be rest assured.
I do not think that the prohibition of mining Bitcoin in China will significantly affect the price of Bitcoin in the direction of its increase. What will change from this? Bitcoin is mined all over the world. Even if the number of miners decreases, the same number of bitcoins will be mined for a certain amount of time. Just the chances of other miners in bitcoin mining will increase. In addition, talks about such a ban have been going on for too long and the miners of China have long been ready for such a step of the government. Some of them have long left the country.
In my opinion the bitcoin price will not be 50k$ this year, only next year i think can happen before or after bitcoin block halving, but indeed China miners ban not make the price going down and this is good. But now all China miners stopped mining bitcoin?
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