BTC To 9K$, China Banned miners | Bitcointalksearch.org

Pamadar

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Quote from: bitcoindusts on April 22, 2019, 11:52:29 AM

Quote from: Jating on April 10, 2019, 11:07:42 AM

Did they really ban bitcoin mining?

It only says it's considering a bitcoin mining ban, so it's not yet final so I guess everyone should stop speculating as this point until we really heard fro the Chinese government about their stance on it.

On the bright side, it might cut the monopoly of Bitmain and other countries might be willing to keep bitcoin mining on their back-yard.

Yea, theres no confirmation to this yet. I’ve read an article about it and it says that this plan is probably just a front for a more advance plans. They are probably thinking or planning a more advance technology or devices to replace what they used to have. They’ve only mention about bitcoin mining and not banning bitcoin entirely so I think it will not hurt the value that much.

China's motives for this still unclear as they don't have any final statement regarding to this banned of mining farmed if so, there's some significance that the value might fell for awhile but for sure it will jumped high again, since mining owners are ready if things happen and transfer their farmed overseas.

Wayan_Pedjeng

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Quote from: Ucy on April 19, 2019, 03:59:14 PM

I don't understand how this will improve the price of Bitcoin? Thought the effects of this kind of ban is usually negative for the prices? A Miner is banned from mining....he sells some coins to relocate his miners or sell his coins to start another business.

Here the thinking is different. A lot of the users think that if the Chinese mining farms are taken out, then it will create a bottleneck in the fresh coin supply and if the demand remains constant, it can result in the exchange rates getting spiked.

However, I don't think that the impact will be that simple. The Chinese ban is like a double edged sword. It has the potential to create bearish conditions as well. If the hashrate goes down, then mining may become profitable for non-Chinese miners. And what will happen if they decide to sell their mined coins below the market rates?

bitcoindusts

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Quote from: Jating on April 10, 2019, 11:07:42 AM

Did they really ban bitcoin mining?

It only says it's considering a bitcoin mining ban, so it's not yet final so I guess everyone should stop speculating as this point until we really heard fro the Chinese government about their stance on it.

On the bright side, it might cut the monopoly of Bitmain and other countries might be willing to keep bitcoin mining on their back-yard.

Yea, theres no confirmation to this yet. I’ve read an article about it and it says that this plan is probably just a front for a more advance plans. They are probably thinking or planning a more advance technology or devices to replace what they used to have. They’ve only mention about bitcoin mining and not banning bitcoin entirely so I think it will not hurt the value that much.

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If I remember it right, that is not the market works. Grin

Slots will be there and transactions might get slower. It is a good opportunity though for other miners to come in.
But I doubt they will just let it get out of their hands.

A lot of money is at stake here and it will be a big loss to that company to just let it go. If this is real and they will be banned, they might have a back up plan already to make it up.

posi

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Quote from: Thirdspace on April 21, 2019, 04:56:45 PM

Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

shouldn't it be the opposite, chinese will panic sell and price drop?
as I remember, it happened before when the was news of china govt banning bitcoin
my thinking is:
- china bans miners, then less miners... mining diff becomes lower, less mining cost... price 'might' drop
- chinese panic sells, afraid there won't be hodler/buyers locally (in china)... price will drop

I also believed the price of bitcoin will drop if the Chinese government decide to ban miners and like you said it happened before when the Chinese government banned bitcoin in the year 2016 or 2017 but the market later surge in price than before which also leads to some Chinese blaming their government.
Meanwhile, what people like Mati of etoro predicted on twitter is that the market will increase in price instead of dump.

Thirdspace

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

shouldn't it be the opposite, chinese will panic sell and price drop?
as I remember, it happened before when the was news of china govt banning bitcoin
my thinking is:
- china bans miners, then less miners... mining diff becomes lower, less mining cost... price 'might' drop
- chinese panic sells, afraid there won't be hodler/buyers locally (in china)... price will drop

hulla

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Quote from: coinplus on April 21, 2019, 12:20:54 PM

Chinese governments actions always affect bitcoin and they have been against crypto since day one, it was time we moved out of that country and moved to a one that is more friendly for crypto. I hope all these miners actually get away from that toxic country and can move into one that is supportive.

Simply put if you have miners in china than it will be basically in Chinese control, even in Chinese banks and all that money helps china while they hate miners for what they provide, they are toxic in our community. However, if all these miners move to a new country that supports bitcoin world than they all will be much more powerful while china will lose all the power in their hands. That is why I think this will be a great thing for bitcoin in general.

The Chinese government actions definitely affect Bitcoin market but it always later make the market surge in the end this was what a lot of top crypto analysiser predicted on Twitter and I think what you said about moving the miners to a crypto friendly country will be better because the Chinese government are fond of abusing power which why the Huawei company ignore their involvement.

coinplus

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Chinese governments actions always affect bitcoin and they have been against crypto since day one, it was time we moved out of that country and moved to a one that is more friendly for crypto. I hope all these miners actually get away from that toxic country and can move into one that is supportive.

Simply put if you have miners in china than it will be basically in Chinese control, even in Chinese banks and all that money helps china while they hate miners for what they provide, they are toxic in our community. However, if all these miners move to a new country that supports bitcoin world than they all will be much more powerful while china will lose all the power in their hands. That is why I think this will be a great thing for bitcoin in general.

Reid

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Not a wise speculation.

Look, if that happens we will have slow transactions. Who will need seeders.
The good side of that is only an open slot for new miners but we will be having high transaction fees.
Demands is not being counted thru that but with buyers.

You should really have thought about the effect first to all bitcoin users, specially those who transact daily or weekly.

That is only if the news is real. But I doubt that will happen.

Rune

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Ban on china miners is only going to hurt BTC not help increase demand your logic does not hold up

Oceat

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Quote from: Ucy on April 19, 2019, 03:59:14 PM

I don't understand how this will improve the price of Bitcoin? Thought the effects of this kind of ban is usually negative for the prices? A Miner is banned from mining....he sells some coins to relocate his miners or sell his coins to start another business.

These speculators are expecting too much may be due to the longest bearish market that's why they think something like this. Chinese crypto mining may be banned from their country but not banned in other countries. So they still have a choice to relocate their miner to another country to start mining again. So, where is the fluctuation of banning there? It doesn't make sense at all.

el kaka22

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This is not something we can calculate right away. Not that bitcoin won't go up but even if it goes up I am pretty sure it won't go up right away so the 9 thousand number is just a made up number that means nothing at all. I feel like the most important part here is that what will the miners do next because that will be the thing that affects bitcoin the most.

If they say screw this and sell their coins and move on with their lives than bitcoin will drop like hell, if they say they want to move to another location and continue than bitcoin won't be affected much at all and if they decide they will keep their coins but do another job instead of bitcoin than bitcoin could go up.

All of this is still uncertain and requires time in order to see how it will play.

Ucy

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I don't understand how this will improve the price of Bitcoin? Thought the effects of this kind of ban is usually negative for the prices? A Miner is banned from mining....he sells some coins to relocate his miners or sell his coins to start another business.

Fortify

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I can see a lot of countries following suit in future. You could say that it is a colossal waste of energy to mine bitcoin (and all the other crypto currencies out there) with very little benefit to humanity. How this will affect the price is impossible to tell, as bitcoin has been so unpredictable through it's entire life, but it would make sense that the price would get nudged up.

senin

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

Well, as far as I know, the Chinese government is still planning to ban Bitcoin mining. However, in China itself, this is probably ready for a long time. Part of the Chinese have long been dispersed around the world in search of good places for mining Bitcoin. Some settled in Canada, others in Belarus. Therefore, such a ban is unlikely to greatly affect the price of Bitcoin. Its mining will simply move to other countries.

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

If you can provide right away some proofs that china has already banned miners now,then i will buy all my 3 month salary for bitcoin

China was thinking of banning miners but still on pending and waiting for the government decision

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Quote from: WinslowIII on April 17, 2019, 07:11:31 PM

Communism and decentralization goes together like ham and moon rocks.

While that is true at the same time it is not like many democratic and capitalist countries are that much better when it comes to individual freedoms, the truth is that we are seeing that freedom and privacy are being attacked from all directions and bitcoin is a response against it and governments are realizing that if the population of the world really makes an effort to protect their privacy and freedom then they will be powerless to stop them and they are very worried about this.

d1ceplayer

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Quote from: Questat on April 17, 2019, 09:40:32 PM

Quote from: jazmuzika217 on April 17, 2019, 06:56:21 PM

We cannot know if bitcoin will rise after the move of china to ban the miners but the good thing is bitcoin still in a $5k level and ready to break the $5600 goingbto $6000, lets wait for another month if the increase will continue or it will going to dump this time.

The price is going at the right path, it's going to reach $6000 soon, just watch it, it has never back down and will certainly break the resistance soon.
We stayed at $5000 long, time to move up as that's the right move in the bull period.

I agree with you that within the next 2 weeks or so, we might reach the value of $6000, one of the reason why we will see this is the ban of miners from china, the recent one is the delisting of BSV coin from exchanges and many other little factors for this month that will make it possible for the price to reach $6000.

I am even seeing it go past $6000 once we get to $5800, at $5800, I believe that some investors will panic buy out of fear of missing out, though it depends at the speed In which Bitcoin uses to rise to that value, if it’s a slow rise, we might not get a panic buy investors, but its sure we get them if the speed of increase is high.

Oilacris

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

No significant proof that demand would increase due to this ban considering that China is a major part when it comes to mining industry which means
it will mainly affect mining area but well it do have advantage yet centralization has been broken down.Well, due to such ban this Chinese miners would
just simply migrate into other countries and continue the operation so i dont think this would give out too much concern.

AhmadM

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

I don't think its a good news and the demands will not be increased necessarily too by this news. If they really ban bitcoin miners in their county it means people who verify the bitcoin transactions will be decreased than before.

WinslowIII

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Since the Chinese miners can't legally sell bitcoins in China, does that mean that most have been simply holding their mined bitcoins since last year? or have they been selling for fiat illegally?

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

Till now we don't have any news reports of mining farms raided by the cops or the electricity supply disconnected. So the impact may not be that serious. But the price movement for the past 4-5 days indicate that this factor may be contributing to the ongoing bull rally. And get ready for a major spike, in case a few of the mining farms are forced to shut down.

omonuyak

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Quote from: samlaode on April 18, 2019, 05:10:33 AM

Quote from: jazmuzika217 on April 17, 2019, 06:56:21 PM

We cannot know if bitcoin will rise after the move of china to ban the miners but the good thing is bitcoin still in a $5k level and ready to break the $5600 goingbto $6000, lets wait for another month if the increase will continue or it will going to dump this time.

You are right, we need to see the exact results, predict the cause only for reference. I think Chinese policies no longer have a strong influence on the market.

The Chinese politic that do affects bitcoin in 2016 and early 2017 has really lose it significant now but if Chinese government shut down minining activities there is no way this is not going to affect bitcoin in a long run because supply will decrease and the laws of demands will take it cause.

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Quote from: Questat on April 17, 2019, 09:40:32 PM

Quote from: jazmuzika217 on April 17, 2019, 06:56:21 PM

We cannot know if bitcoin will rise after the move of china to ban the miners but the good thing is bitcoin still in a $5k level and ready to break the $5600 goingbto $6000, lets wait for another month if the increase will continue or it will going to dump this time.

The price is going at the right path, it's going to reach $6000 soon, just watch it, it has never back down and will certainly break the resistance soon.
We stayed at $5000 long, time to move up as that's the right move in the bull period.

If we are going to look at how it affects the market after the news has been released, no negative impact has been seen. On the contrary, the market is really doing good as the price is now breaking another big barrier at $5200 and yeah it could be heading to $5500-$6000 and we could be back where we used to be before the actual massive sell off because of the Bitcoin Cash vs Bitcoin SV hash war. So I guess there is no negative effect so far and we have to thank the market for not really taking this news seriously.

samlaode

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Quote from: jazmuzika217 on April 17, 2019, 06:56:21 PM

We cannot know if bitcoin will rise after the move of china to ban the miners but the good thing is bitcoin still in a $5k level and ready to break the $5600 goingbto $6000, lets wait for another month if the increase will continue or it will going to dump this time.

You are right, we need to see the exact results, predict the cause only for reference. I think Chinese policies no longer have a strong influence on the market.

miningguru

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Quote from: 2chase on April 15, 2019, 03:40:52 AM

It seems to me that now it is necessary to pay as little attention as possible to what the media is writing, as well as any online publications, because most likely this may not be completely reliable information. You just need to take into account the fact that the trend has changed and now we are all waiting for slow growth.

Yes, you are right we need to carefully watch the media news because many people are completely positive about China's ban. But it is not yet confirmed message from the Chinese government until we get full clarity information we shouldn't conclude it.

futile-resistance

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

I believe you it is either you are new to the crypto space or you are still yet to study how crypto works, because I don't see any reason why you will this a good news, the bitcoin blockchain was designed to release a specific amount of reward every 10 minutes and the available of so many miners just make it difficult for lesser miners to benefit since they have more processing speed than lesser miners, after all they are the one who protecting the network and no miners mean easy hack on the Bitcoin network.

Questat

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Quote from: jazmuzika217 on April 17, 2019, 06:56:21 PM

We cannot know if bitcoin will rise after the move of china to ban the miners but the good thing is bitcoin still in a $5k level and ready to break the $5600 goingbto $6000, lets wait for another month if the increase will continue or it will going to dump this time.

The price is going at the right path, it's going to reach $6000 soon, just watch it, it has never back down and will certainly break the resistance soon.
We stayed at $5000 long, time to move up as that's the right move in the bull period.

WinslowIII

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Communism and decentralization goes together like ham and moon rocks.

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We cannot know if bitcoin will rise after the move of china to ban the miners but the good thing is bitcoin still in a $5k level and ready to break the $5600 goingbto $6000, lets wait for another month if the increase will continue or it will going to dump this time.

WinslowIII

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Quote from: jakelyson on April 17, 2019, 05:21:32 PM

Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

How will this increase demand? If this pushes through, it will lower hash rate, which will make mining much much more profitable to the remaining miners. It can actually lower price of bitcoin if no other country picks up the slack.

The less China the better.

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

How will this increase demand? If this pushes through, it will lower hash rate, which will make mining much much more profitable to the remaining miners. It can actually lower price of bitcoin if no other country picks up the slack.

maxreish

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It doesn't actually totally btc miners banned. It was just a proposal but no yet implemented. But whether the China and their government decided to banned btc mining, if it is for the country's sake then it's fine. It will gonna affect btc's price for sure since the demand will go higher then the price will also go up.

Alpinat

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

They are just considering it to be ban. It is not sure. The demand will increase for sure if that really happen and as you were saying price will go up. It is not sure but it still good to be true.

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Quote from: Indamuck on April 10, 2019, 11:23:29 AM

Quote from: Jating on April 10, 2019, 11:07:42 AM

Did they really ban bitcoin mining?

It only says it's considering a bitcoin mining ban, so it's not yet final so I guess everyone should stop speculating as this point until we really heard fro the Chinese government about their stance on it.

On the bright side, it might cut the monopoly of Bitmain and other countries might be willing to keep bitcoin mining on their back-yard.

There is no way China will actually ban bitcoin mining. They get tax revenue from businesses and mining has been thriving in their country. Its just sabotaging their own economy only to let other countries gobble up the mining industry.

There is no doubt that they will lose revenue when they ban bitcoin mining, but you must not forget that the Chinese government is way more interested in having control of their population than in whatever revenue that they may lose, bitcoin mining undermines the control they have over their population because it allows them to have an alternative currency that they can use to move money outside of China and that is something that they do not like one bit.

2chase

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It seems to me that now it is necessary to pay as little attention as possible to what the media is writing, as well as any online publications, because most likely this may not be completely reliable information. You just need to take into account the fact that the trend has changed and now we are all waiting for slow growth.

mrdeposit

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You are looking at the positive, but the majority will not. If the decision is made, the price decrease will be possible.

Quote from: Jating on April 10, 2019, 11:07:42 AM

Did they really ban bitcoin mining?

I do not think the final decision was announced.

Oceat

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Where do you get your data that Bitcoin will grow to $9k? Even if they ban their miners or not we can't still say that Bitcoin will grow. Luckily Bitcoin passed the $5k resistance since it is hard to attain in the past few months but look at this we have seen some improvement of the market.

futile-resistance

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Quote from: Pursuer on April 13, 2019, 02:42:18 AM

it is China and news coming from China on shitty news sites so I wouldn't be surprised that there has never been anything remotely close to an actual "ban" but something that the news sites exaggerated like they have been doing in the past 10 years just to get traffic with their click baits.

as for bitcoin price it won't change based on this news specially not upwards. if anything it should have dropped because of the panic. you can associate the recent small drop with it but that was too small and it is already over so it is not worth talking about that either!!!

You seems to be right, most of the sites promoting these news may just be doing so to gain attention or traffic to their site, because I was wondering how crypto mining has now become major challenge to the government of china, of all the challenges they have at hand that poses threat to them more than mining, I bet it was not true, if they wanted to do so, they would have even started by banning some exchanges too like HUOBI, this blockchain system is really beyond governments control and I don’t think they have seen any threat it has pose to their economy yet for them to go that hard on it.

carlisle1

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

Really?so when would this be?lol

China was thinking about banning but not decided yet so this is a future speculative post,but for me?yeah i eant this to happen soon,as i am dying to see the spike of bitcoin to uptrend

hotimbineh

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this news is not final still the plan of the Chinese government but whether with the ban the price will rise or even will decrease. but what is clear is that this can change if the miners use environmentally friendly energy to produce electricity but if not then the mining ban may be possible

Lawrenzoo

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

It is not certain they have done so. i think it is just a plan that may not happen, we have so many alternatives that the miners can continue to use for mining that is beyound their control, so it may not really reduce the supply limit.

Pursuer

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it is China and news coming from China on shitty news sites so I wouldn't be surprised that there has never been anything remotely close to an actual "ban" but something that the news sites exaggerated like they have been doing in the past 10 years just to get traffic with their click baits.

as for bitcoin price it won't change based on this news specially not upwards. if anything it should have dropped because of the panic. you can associate the recent small drop with it but that was too small and it is already over so it is not worth talking about that either!!!

Siren

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

The statement is clear that china is Considering to banned miningbut that was not decided so there is only a possibilities and not reality

Though in some point that would have a good effect in bitcoin price and market will sure move but still we need to wait until things happens
So it is too early to count the checks from the eggs that is not broken yet

Herbert2020

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lol. it is funny how people connect things together sometimes when it comes to price speculations around here. it doesn't matter if they are completely irrelevant either Cheesy

Quote from: Chikito on April 12, 2019, 08:05:04 PM

Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

bad news for china miner and bad news for us, demand will not be increase. when they go to under ground miner or go to outside country

most of the businesses have already exited Chinese government jurisdiction a very long time ago. that includes exchanges, ASIC manufacturer, mining farms,... so the only badness of this news is its FUD which has also been rather ineffective if you look at the price charts and how price is currently above $5100!

ethereumhunter

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I don't think that China banned miners because bitcoin is potential to give a huge profit not just for the miners but also for the government if they do mining too with their super-duper hardware. When something gives benefit, then I don't think that it could stop right away because people will search another way to continue still to take the benefit. So do with mining, when they can mining and get a big reward from crypto, then they try to move their hardware or their company in a safe place to continue mining.

FIFA worldcup

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

I do not believe in such news now neither bitcoin community take it seriously. We have seen such statements of ban crypto / mining in china which resulted in price pump and dump, but now everyone is aware that china just spread the Fud and there is no significant movement in prices by such news.

Questat

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Quote from: Chikito on April 12, 2019, 08:05:04 PM

Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

bad news for china miner and bad news for us, demand will not be increase. when they go to under ground miner or go to outside country

We never care about china anymore, we know they are anti crypto and operating within their country is a bad idea.
People who like to continue the business of mining, they can find another place to operate with a cheap electricity, I'm sure these guys already anticipated this.

Chikito

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

bad news for china miner and bad news for us, demand will not be increase. when they go to under ground miner or go to outside country

olumyd

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Quote from: fabiorem on April 11, 2019, 01:31:41 PM

Quote from: Vishnu.Reang on April 11, 2019, 12:00:41 PM

Quote from: franky1 on April 10, 2019, 04:41:46 PM

bitcoin mining has not been a CHINA thing for a couple years now.

will people stop living in propoganda past

You sure about that? China remains the leader in Bitcoin mining, as per the latest available data. Earlier this year, Jordan Tuwiner estimated that China contributes to 81% of the mining hash power. Just check the below image, and you'll see that the largest mining pools are all from China:

These are chinese companies, but this dont means the mining operations are in China. Some of them have moved their headquarters too. I read somewhere that only 32% of hashing power is in China, right now.

Still I'd say 32% is a huge share, to lose that much will have ramifications, though it opens up the opportunity for existing companies to increase their quota, and if that doesn't happen, it just might affect the industry, and price as well.

creeps

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Quote from: Pab on April 12, 2019, 10:42:31 AM

Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

fake news.It is proposal only from 2013.Every three years proposal is updated.Next China ban will be 2022.
But bitcoin will rise to 9 k and much higher it is matter of time only

Looking at the internet right now and I don’t see any news from China on banning the miners, and I believe this is not a good news after all. The demand will increase and it can start to pump the price but we need more miners for a faster transactions. We don’t need bad news just to pump the price, because bitcoin will always go up and its about time to slowly reach a higher price $9k and more.

Adriano2010

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Indeed is bad, because ASIC miners are created on China, but i don't think is banned now and maybe if the price go up they will not ban bitcoin, but we need a higher price, so better wait and see what will happen.

shoreno

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Quote from: barbara44 on April 12, 2019, 01:48:51 PM

I don’t see it as good news in the main time, if they ban miners, they are indirectly banning BTC then,

they dont say that they ban btc .they only say that they ban miners . btc users are still welcome to use btc on thier country i guess .

Quote from: barbara44 on April 12, 2019, 01:48:51 PM

which is not too good for us, miners can always come from region and what is exactly the population of miners in China for us to start jubilating their ban

reduced numbers of miners is not bad beause this give some space to the mining industry . this loosen the difficulty in mining which is good . this gives other a chance to join and earn more in mining .

Quote from: barbara44 on April 12, 2019, 01:48:51 PM

Anyway, we still cannot fully speculate that the Ban will have any effect on BTC, let us see how it goes this period and see if truly, their ban has any influence in the current market supply.

if the news was true . the ban do have some minor effects but some said that the news was only a hoax . it might be a scare to others for them to panic .

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

But I don’t see it as good news in the main time, if they ban miners, they are indirectly banning BTC then, which is not too good for us, miners can always come from region and what is exactly the population of miners in China for us to start jubilating their ban, China is a big country with rich people, we need them to fully adopt cryptocurrency so that we can have more populations that will invest in it or make use of it as a utility token.

Anyway, we still cannot fully speculate that the Ban will have any effect on BTC, let us see how it goes this period and see if truly, their ban has any influence in the current market supply.

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Quote from: Danslip on April 12, 2019, 12:04:08 PM

Quote from: Pab on April 12, 2019, 10:42:31 AM

Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

fake news.It is proposal only from 2013.Every three years proposal is updated.Next China ban will be 2022.
But bitcoin will rise to 9 k and much higher it is matter of time only

Yeah, it was old news and there are other things that should be considered as good news in my opinion. Next ban will lead more pressure on the markets and the result will be low prices on crypto markets.

Closure of a business would certainly decrease the value of the product they were selling off. I feel the news would bring bad impact to the market decreasing BTC price and obviously altcoin will fall into the same. But on the other hand, when the demand increases, yes the price is going to be growing up in midst of all bad news. Lets see how the impact revolves around.

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Quote from: Pab on April 12, 2019, 10:42:31 AM

Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

fake news.It is proposal only from 2013.Every three years proposal is updated.Next China ban will be 2022.
But bitcoin will rise to 9 k and much higher it is matter of time only

Yeah, it was old news and there are other things that should be considered as good news in my opinion. Next ban will lead more pressure on the markets and the result will be low prices on crypto markets.

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Quote from: Indamuck on April 10, 2019, 11:23:29 AM

Quote from: Jating on April 10, 2019, 11:07:42 AM

Did they really ban bitcoin mining?

It only says it's considering a bitcoin mining ban, so it's not yet final so I guess everyone should stop speculating as this point until we really heard fro the Chinese government about their stance on it.

On the bright side, it might cut the monopoly of Bitmain and other countries might be willing to keep bitcoin mining on their back-yard.

There is no way China will actually ban bitcoin mining. They get tax revenue from businesses and mining has been thriving in their country. Its just sabotaging their own economy only to let other countries gobble up the mining industry.

Could be, but there maybe a deeper roots though. It's their hatred on bitcoin that's why they wanted to end everything.

I guess they are other means for their government to raise revenues, and maybe bitcoin mining is just a small dot and I don't think that they are going to sabotage their economy by banning bitcoin mining.

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

fake news.It is proposal only from 2013.Every three years proposal is updated.Next China ban will be 2022.
But bitcoin will rise to 9 k and much higher it is matter of time only

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Quote from: Vishnu.Reang on April 12, 2019, 09:57:27 AM

Quote from: BlueStackz on April 12, 2019, 09:23:15 AM

but why would china want to do so?

You can call me crazy, but I strongly believe that China has some ulterior motive regarding to this. Earlier also, statements from the Chinese government agencies have caused the crypto market to crash on multiple occasions. I would say that they are intentionally doing this, in order to crash the prices. They are not going to ban mining. It is just to crash the market.

Oh well, we have seen Chinese government motives from behind so you are not alone with your assessment. I mean when Bitcoin is making significant gains last week, they suddenly release a statement, saying that they are going to ban mining, blah, blah. They really wanted to bring the price down because they are afraid that Chinese millionaires or billionaires will just put their money on Bitcoin and will be far from the reach of their government.

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Quote from: mikeywith on April 12, 2019, 09:59:50 AM

Quote from: franky1 on April 10, 2019, 04:41:46 PM

bitcoin mining has not been a CHINA thing for a couple years now.

will people stop living in propoganda past

The majority of mining operations are in china, it is safe to say that well over 60% of mining gears are located in china, i do not know what is it you smoking that makes you think the way you do.

As for OP , if that is to happen the effect on price will either be nothing or negative, it terms of security any major drop in hashrare is bad, plus i am willing to bet the horse that china won't ban shit related to mining.

That's what I heard too, many miners are in Situan Mountains. But why will this be a good news when there would be less miners will confirm transaction if this happens?

In the other hand if China will really ban BTC mining then I guess mining will soon be a big business for people, they can join the pool or just have it for themselves.

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Quote from: franky1 on April 10, 2019, 04:41:46 PM

bitcoin mining has not been a CHINA thing for a couple years now.

will people stop living in propoganda past

The majority of mining operations are in china, it is safe to say that well over 60% of mining gears are located in china, i do not know what is it you smoking that makes you think the way you do.

As for OP , if that is to happen the effect on price will either be nothing or negative, it terms of security any major drop in hashrare is bad, plus i am willing to bet the horse that china won't ban shit related to mining.

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Quote from: BlueStackz on April 12, 2019, 09:23:15 AM

but why would china want to do so?

You can call me crazy, but I strongly believe that China has some ulterior motive regarding to this. Earlier also, statements from the Chinese government agencies have caused the crypto market to crash on multiple occasions. I would say that they are intentionally doing this, in order to crash the prices. They are not going to ban mining. It is just to crash the market.

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Quote from: Vishnu.Reang on April 11, 2019, 12:00:41 PM

Quote from: franky1 on April 10, 2019, 04:41:46 PM

bitcoin mining has not been a CHINA thing for a couple years now.

will people stop living in propoganda past

You sure about that? China remains the leader in Bitcoin mining, as per the latest available data. Earlier this year, Jordan Tuwiner estimated that China contributes to 81% of the mining hash power. Just check the below image, and you'll see that the largest mining pools are all from China:

[im g width=600]https://www.buybitcoinworldwide.com/wp-content/uploads/2017/02/pools1.png[/img]

Wow, I never really knew about this and if you data is accurate, then their ban will have a major effect on the market supply, demand will really become high leading to an increase in the cost of BTC, but since it is still a rumor as many people claim, the effect might not be now until future, we will be able to notice its significant effect on the price of the coin they mine the most which I believe should be bitcoin.

It’s a good news for present holdlers but won’t be too good for those who are yet to invest, has the coin may become too expensive for them to hold 1 of it. Giving chance to more purchase of altcoins, so altcoins holders too may feel the effect too in the long run, but why would china want to do so?

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Quote from: Jating on April 10, 2019, 11:07:42 AM

Did they really ban bitcoin mining?

It only says it's considering a bitcoin mining ban, so it's not yet final so I guess everyone should stop speculating as this point until we really heard fro the Chinese government about their stance on it.

On the bright side, it might cut the monopoly of Bitmain and other countries might be willing to keep bitcoin mining on their back-yard.

Yep, they consider banning bitcoin mining in 2021 I think?

Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

How can demand increase when there is a FUD that is around? Isn't it that when there is a bad news, the coin will go down?

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Quote from: franky1 on April 10, 2019, 04:41:46 PM

bitcoin mining has not been a CHINA thing for a couple years now.

will people stop living in propoganda past

This +1
As far as I remember companies (including bitmain, viabtc and others) where moving their miners from china to another countries. Also that's not a huge problem, small miners can't affect it but huge companies or even any person can easily move mining equipment into another country, you know there are a lot of services which offer you to host your miners + they have low electricity prices (this for small ones). If you want, see how great offer does Bitfury gets outside of china (they mine in europe).

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Quote from: Vishnu.Reang on April 11, 2019, 12:00:41 PM

Quote from: franky1 on April 10, 2019, 04:41:46 PM

bitcoin mining has not been a CHINA thing for a couple years now.

will people stop living in propoganda past

You sure about that? China remains the leader in Bitcoin mining, as per the latest available data. Earlier this year, Jordan Tuwiner estimated that China contributes to 81% of the mining hash power. Just check the below image, and you'll see that the largest mining pools are all from China:

These are chinese companies, but this dont means the mining operations are in China. Some of them have moved their headquarters too. I read somewhere that only 32% of hashing power is in China, right now.

Slow death

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Quote from: Wilhelm on April 10, 2019, 05:45:26 PM

I’ve been here long enough to have seen at least 6 China bans.
Usually they are hollow threats based on wrong interpretations.

I believe that this time the threat must be taken very seriously, according to this article:

China’s State Macroeconomic Planning Agency Mulls Ban on Crypto Mining

Quote from: Sithara007 on April 10, 2019, 12:01:19 PM

But no concrete step has been taken yet

China wants to ban bitcoin mining

Quote from: https://www.reuters.com/article/us-china-cryptocurrency/china-says-it-wants-to-eliminate-bitcoin-mining-idUSKCN1RL0C4

SHANGHAI/HONG KONG (Reuters) - China’s state planner wants to eliminate bitcoin mining in the country, according to a draft list of industrial activities the agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector.

it's a question of a few years for them to ban the miners and as I said, I believe that in 3 years they will ban the miners

OP, in cases like these that you have posted, you should post source links so people can read and get informed as well and it is easier to comment

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Quote from: franky1 on April 10, 2019, 04:41:46 PM

bitcoin mining has not been a CHINA thing for a couple years now.

will people stop living in propoganda past

You sure about that? China remains the leader in Bitcoin mining, as per the latest available data. Earlier this year, Jordan Tuwiner estimated that China contributes to 81% of the mining hash power. Just check the below image, and you'll see that the largest mining pools are all from China:

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Quote from: Ararbermas on April 11, 2019, 04:26:50 AM

how it become a good news for you mate? Did you know its the common reason why btc collapse rapidly last few years because of that issue ?. Actually miners is the only reason why btc always still stading after all the worst situation for your information. So how it become good news if they banned bitcoin miners? Elaborate more please.

He is implying that miners will migrate to other countries, decentralizing mining from China. Bitmain already have operations in other countries.

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

how it become a good news for you mate? Did you know its the common reason why btc collapse rapidly last few years because of that issue ?. Actually miners is the only reason why btc always still stading after all the worst situation for your information. So how it become good news if they banned bitcoin miners? Elaborate more please.

Idrisu

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

The price should actually jump up because the supplies is going to decrease! However it is not going to be immediate pump towards $9,000 but a gradual increases in pricing. I am among the enthusiasts that has been saying bitcoin is going to do well this year.

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Some news about this actually happen every time. China adopt bitcoin usually make price up,China banned bitcoin usually make price down. But i think banned miners is not a good news because mining is not a crime. And banned miners means banned how crypto that usually used and it can considered as bad news actually.

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Link please do you have basis for this? I do not think that banning miners will help bitcoin to grow because who will going to confirm bitcoin transactions if the mining equipment could not satisfy all the transactions? This will cause delay and it is not likely to help bitcoin otherwise if bitcoin transaction will just only accept on those who buy bitcoin and will not process those who would like to sold their bitcoins.

Anyway, I do not like chinese people for they are greedy when it comes to money, power and etc. Look at west Philippine sea even if it belongs to the Philippines since it is under its territory still claims that it belong to them and made an arbitration in that area.

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Quote from: Ailmand on April 10, 2019, 12:15:11 PM

If ever China will ban mining, I am sure that other countries will try to focus on that to grab the opportunity to operate big mining operation in their country. China had been announcing that a lot a few years ago. Let's just wait for further news about it and wait if China really announced this or if they will really do this.

This. Bitcoin mining is profitable at the right price for any country no matter the electricity cost. If China and it's cheap electricity is gone, either price will have to go up or bitcoin will have to die. Now, which of these scenarios is more likely?

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In my opinion, it will not change anything, China Banned miners, they will transfer to other countries where they are welcome.
Being a miner does not choose a place, as long as they can operate profitably, they will find ways to operate in a certain area, and I don't think
that these miners will just give up easy knowing they invested big time in the business and there is a big money in mining.

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

Not so good news as bitcoin is better with wider adoption.It does not really make Mich difference if the chinese miners are banned,they will simply move their hardwares to areas where there are no such restrictions. The dynamics of mining will make the impact insignificant, miners in other parts of the world will simply switch on more of their equipment

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I’ve been here long enough to have seen at least 6 China bans.
Usually they are hollow threats based on wrong interpretations.
BTC price will fluctuate on the FUD and we live to see another day.

So until I see proof and a Chinese dude translate the meaning, formulation and gesture behind this news I will not be convinced of it’s truth.

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Quote from: Jating on April 10, 2019, 11:07:42 AM

Did they really ban bitcoin mining?

It only says it's considering a bitcoin mining ban, so it's not yet final so I guess everyone should stop speculating as this point until we really heard fro the Chinese government about their stance on it.

On the bright side, it might cut the monopoly of Bitmain and other countries might be willing to keep bitcoin mining on their back-yard.

Just speculation, no final announcement regarding the banning. On the other hand, it might be good for other miners located outside China. Let's see what will be the impact to bitcoin.

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Quote from: Jating on April 10, 2019, 11:07:42 AM

Did they really ban bitcoin mining?

No, they have not.

I've looked for all articles that says they actually banned but most of the search results said 'wants'. So it means that this is a rumor like this article.

--> https://www.wired.com/story/china-says-bitcoin-wasteful-wants-ban-mining/

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bitcoin mining has not been a CHINA thing for a couple years now.

will people stop living in propoganda past

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Majority of the mining process takes place in China. This is a big industry contributing a large scale change to the cryptocurrency as mining is the base for every process. With the ban on bitcoin mining there are two possibilities, one is for a large scale growth in the market due to the sudden decrease in the supply. Next one is about the unexpected collapse of the mining segment.

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China's 'ban' on crypto mining wouldn't change anything in the cryptomarket landscape IMO. Most mining companies in China would just relocate into other countries and continue hashing. And that does not affect the demand side of the market in any way, considering that the world has since moved on from China's antics on the wee days of 2016. If anything, this will just free up the control the Chinese has over the network--not that the same miners would likely do something stupid to the blockchain anyway.

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

How you are considering this is a good news? China isn't a small country and if they really ban bitcoin mining then it's really negative for crypto-currency. Then how are you expecting price would go up. It might go down instead of price up. Will try to describe briefly about your though ? Ban bitcoin mining could not good news even its happen by others country as well. I am really not considering it as a good news even there is more country would encourage for mining. We really need expand mining community.

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If ever China will ban mining, I am sure that other countries will try to focus on that to grab the opportunity to operate big mining operation in their country. China had been announcing that a lot a few years ago. Let's just wait for further news about it and wait if China really announced this or if they will really do this.

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I don’t think China ban doesn’t effect bitcoin price in 2017 China banned cryptocurrency exchanges and ico’s lots of fud happened people started to sell btc . Then huge bull run happened everyone regretted including me for selling bitcoin because of China fud.

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

Hey ops this is not a good news because the less miners we have the more congested the bitcoin network become, because the will not be less available to harsh the transaction network. What is now the point of having high price with higher transactions fees?

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

You should stop posting BS.

I just checked all the major crypto news sites and none of them has published any news article related to this. There are indications that the Chinese government wants to ban crypto mining. But no concrete step has been taken yet, as they know that it can have a major impact on some of the private entities. And in case they ban mining, then it is going to affect the other cryptos as well, and not just BTC.

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

No, there is still no ban, at least I still can't find any reliable site saying so. The government however has been floating the idea for the past week and we are yet to see if they'll go through with it.

Most commentators seem to believe it'll have positive effect on price since it'll be more expensive to produce. Frankly, I really don't care much. Even if there's a drop, eventually prices will pick back up as new mines outside China become operational. As long as China also don't ban the production of equipment for mines, we're all good.

If one thing, mining being more spread out will make prices less susceptible to government FUD.

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Just because China banned miners it doesn't mean that the demand will increase. Price of bitcoin is not connected to China miners, they only play a small role in addressing the transaction confirmation.

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

This is not a good thing, look at it this way, less miners means less people trying to verify transactions being made in the blockchain, which leads to fees going up and being delayed, Chinese miners have been a huge part of the bitcoin mining since electricity there is cheap which means it profitable than any other place, and with them gone it will really have an effect on the bitcoin overall, in a bad way that is, that being said i don't think that they are actually banning, they did limit or regulate it, but not banned, because cryptocurrency has been well established its roots in their economy and people's business.

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China has made various efforts to hinder the development of the bitcoin cryptocurrency industry since 2017. In my opinion If this ban is really implemented, it will have an impact on the existence of bitcoin itself because China has the largest number of bitcoin mining operations in the world.

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Quote from: Jating on April 10, 2019, 11:07:42 AM

Did they really ban bitcoin mining?

It only says it's considering a bitcoin mining ban, so it's not yet final so I guess everyone should stop speculating as this point until we really heard fro the Chinese government about their stance on it.

On the bright side, it might cut the monopoly of Bitmain and other countries might be willing to keep bitcoin mining on their back-yard.

There is no way China will actually ban bitcoin mining. They get tax revenue from businesses and mining has been thriving in their country. Its just sabotaging their own economy only to let other countries gobble up the mining industry.

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

I thought others will capture the market but in your point of view it is right and maximum we can find the growth that is what expected too.
Keep dig more news about bitcoin and make all success for crypto currency.
How about the confirmation time and transaction processing on bitcoin transactions.

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Well it is good in many ways, for instance if miners there would be banned there then the greater shares would come to small time miners. But this scenario has been familiar, remember they've said about banning totally bitcoin in there? What have been the outcome? Great right? Another is who cares now about what China says about Bitcoin, I don't think BTC solely revolves around them, I mean look at us, we don't need them anyways.

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Did they really ban bitcoin mining?

It only says it's considering a bitcoin mining ban, so it's not yet final so I guess everyone should stop speculating as this point until we really heard fro the Chinese government about their stance on it.

On the bright side, it might cut the monopoly of Bitmain and other countries might be willing to keep bitcoin mining on their back-yard.

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Quote from: alexey14 on April 10, 2019, 10:56:12 AM

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

Although at some point you are very right but the negative side of this will affect the cryptocurrency industry especially the Bitcoin. We are looking forward for another county that will replace China to balance up the mining industry. For Bitcoin to hit $9000 is very visible because of the good start the year brought to cryptocurrency market.

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Hey buddy,

It is bad because of its big industry in China Undecided

-ASIC hashing and bitcoin hashing.

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Good news, China Banned BTC miners,Demand will be increased so Price will go up.

Topic: BTC To 9K$, China Banned miners (Read 868 times)