Topic: China Declares War on Bitcoin (?) - page 2. (Read 717 times)
Other countries that hate Bitcoin will follow China's ban on mining if it is successful. This makes a good reasoning for research and tests on low energy forms of mining like Proof of Space and Time and Proof of Capacity. The wasteful use of electricity must stop.
I didn’t manage to found information but I hardly believe that hydroelectric plant pollute the environment more than coal plants and that this action will help somehow to prevent climate changes. Chinese had better plant all those forests they cut down. The part of Siberia is already totally bald.
China being the main hub of Bitcoin mining has always been problematic to the Communist Party because they want to centerlized everything in their country but Bitcoin doesn't allow them to do so.Thats why they always find many of their excuses to ban Bitcoin but they are also earning a huge source of revenue from them.The electricity consumption is high in Bitcoin mining but it's much low compared to the dam built by the Chinese government that has slow down the rotation of the earth.They are using high amount of electricity for their some useless projects which don't bothers them.Moreover they want to implement their CDBC Digital Yuan to all the people which under btc usage is not possible and they fear of loosing control.But it won't have much impact on btc prices in future because people will find some other modern ways to encourage btc usage.There is no weapon stronger than decentralised of power that can dethrone the monarchs.
China don't want to people to use the cheap power availability to mine bitcoins and it seems they are talking about particular region so its not really against bitcoin but they want the miners to pay more fee for them or they don't want those miners to earn money for themselves alone. Environmental polution is simply a pure political strategy to avoid any blame on them so we can't take those reasons as serious.
If the Chinese government intends to take measures to reduce the energy consumption of bitcoin miners, then this should hardly be considered a fight against bitcoin. I do not think that this is a big problem for them, there are suitable places in the world for mining bitcoins. The construction of private power plants using solar panels and wind energy is growing all over the world. With these renewable energy technologies, there shouldn't be an energy problem for mining bitcoins. If production decreases in China, it will increase elsewhere, where conditions are suitable for this. 
China don't want to people to use the cheap power availability to mine bitcoins and it seems they are talking about particular region so its not really against bitcoin but they want the miners to pay more fee for them or they don't want those miners to earn money for themselves alone. Environmental polution is simply a pure political strategy to avoid any blame on them so we can't take those reasons as serious.
https://www.youtube.com/watch?v=4hZU7qska34
....
China claims it must "crackdown" on bitcoin to save the environment and the planet.
Given that a high percentage of cryptocurrency (pow) mining is powered through hydroelectric and green energy. The cost of which helps fund the expansion and development of cleaner non fossil fuel based plants around the world.
Perhaps we can propose an alternative if china is serious about fighting climate change and being Greta Thunberg's proud poster boy.
China is known for having 14 out of the top 30 most polluted cities on the planet due to its heavy reliance on coal. In some places the air pollution is so bad, it is claimed simply living and breathing the air is like smoking two packs of cigarettes a day.
I am curious to know what peoples thoughts on these topics are.
Could the environment better be protected by china replacing its 700 planned coal power plants with cleaner options.
China is emerging as a hub for solar panel and windmill manufacturing. It is well suited to leverage EV vehicles due to the abundance of rare earth minerals within china's own borders. Its policy of pursuing coal energy in the face of cleaner and more affordable power options remains an enigma to me. Fossil fuel based power is heavily criticized and attacked by the media in the west. While in the east it is embraced with bold plans in motion to extend the scale of coal based operations. How can this discrepansy be explained. What are the motives and reasons behind it.
Quote
China Uncensored
1.56M subscribers
China declares war on Bitcoin. Inner Mongolia, where a huge amount of bitcoin mining occurs, will be banning it. But the Bitcoin news is part of a broader attempt by the Chinese Communist Party to create a national digital currency that the Party controls.
1.56M subscribers
China declares war on Bitcoin. Inner Mongolia, where a huge amount of bitcoin mining occurs, will be banning it. But the Bitcoin news is part of a broader attempt by the Chinese Communist Party to create a national digital currency that the Party controls.
....
China claims it must "crackdown" on bitcoin to save the environment and the planet.
Given that a high percentage of cryptocurrency (pow) mining is powered through hydroelectric and green energy. The cost of which helps fund the expansion and development of cleaner non fossil fuel based plants around the world.
Perhaps we can propose an alternative if china is serious about fighting climate change and being Greta Thunberg's proud poster boy.
Quote
Chinese companies to build 700 coal plants in and outside China
Even though they're one on the known countries that has a huge problem regarding on pollution, it's ironic that they want to save the planet by doing such things and what will they achieve if they declare war on bitcoin? It's quite illogical with these kinds of actions that they think they can save the world.
Citing data gleaned from the world’s biggest developers of coal-fired power plants, Urgewald found that of all the new coal generation expected to go online over the next decade, Chinese companies will build nearly half of it. Specifically, that means 700 new coal plants, with most to be built in China, and about a fifth outside the country, according to figures provided by Urgewald and reported by the New York Times:
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Overall, 1,600 coal plants are planned or under construction in 62 countries, said Urgewald, which uses data from the Global Coal Plant Tracker portal. The new plants would expand the world’s coal-fired power capacity by 43 per cent.
The fleet of new coal plants would make it virtually impossible to meet the goals set in the Paris climate accord. Electricity generated from fossil fuels such as coal is the biggest single contributor globally to the rise in carbon emissions, which scientists agree is causing the earth’s temperatures to rise.
https://www.mining.com/chinese-companies-build-700-coal-plants-outside-china/
Even though they're one on the known countries that has a huge problem regarding on pollution, it's ironic that they want to save the planet by doing such things and what will they achieve if they declare war on bitcoin? It's quite illogical with these kinds of actions that they think they can save the world.
Citing data gleaned from the world’s biggest developers of coal-fired power plants, Urgewald found that of all the new coal generation expected to go online over the next decade, Chinese companies will build nearly half of it. Specifically, that means 700 new coal plants, with most to be built in China, and about a fifth outside the country, according to figures provided by Urgewald and reported by the New York Times:
SIGN UP FOR THE ENERGY DIGEST
Overall, 1,600 coal plants are planned or under construction in 62 countries, said Urgewald, which uses data from the Global Coal Plant Tracker portal. The new plants would expand the world’s coal-fired power capacity by 43 per cent.
The fleet of new coal plants would make it virtually impossible to meet the goals set in the Paris climate accord. Electricity generated from fossil fuels such as coal is the biggest single contributor globally to the rise in carbon emissions, which scientists agree is causing the earth’s temperatures to rise.
https://www.mining.com/chinese-companies-build-700-coal-plants-outside-china/
China is known for having 14 out of the top 30 most polluted cities on the planet due to its heavy reliance on coal. In some places the air pollution is so bad, it is claimed simply living and breathing the air is like smoking two packs of cigarettes a day.
I am curious to know what peoples thoughts on these topics are.
Could the environment better be protected by china replacing its 700 planned coal power plants with cleaner options.
China is emerging as a hub for solar panel and windmill manufacturing. It is well suited to leverage EV vehicles due to the abundance of rare earth minerals within china's own borders. Its policy of pursuing coal energy in the face of cleaner and more affordable power options remains an enigma to me. Fossil fuel based power is heavily criticized and attacked by the media in the west. While in the east it is embraced with bold plans in motion to extend the scale of coal based operations. How can this discrepansy be explained. What are the motives and reasons behind it.
The only understandable benefit from the actions of the Chinese government is the fight against environmental pollution, but their actions will be successful if they, along with the ban on bitcoin in their country, stop all production and ban internal combustion engines. That's when the Chinese will get clean air. I suppose you understand my irony. In any case, the future Chinese national cryptocurrency is far from being called a "cryptocurrency", since the main feature of cryptocurrencies is decentralization - the absence of any internal or external administrator. And this means that no government authorities, including banks, tax and judicial structures, can influence the transactions of cryptocurrency users.
https://www.youtube.com/watch?v=4hZU7qska34
....
China claims it must "crackdown" on bitcoin to save the environment and the planet.
Given that a high percentage of cryptocurrency (pow) mining is powered through hydroelectric and green energy. The cost of which helps fund the expansion and development of cleaner non fossil fuel based plants around the world.
Perhaps we can propose an alternative if china is serious about fighting climate change and being Greta Thunberg's proud poster boy.
China is known for having 14 out of the top 30 most polluted cities on the planet due to its heavy reliance on coal. In some places the air pollution is so bad, it is claimed simply living and breathing the air is like smoking two packs of cigarettes a day.
I am curious to know what peoples thoughts on these topics are.
Could the environment better be protected by china replacing its 700 planned coal power plants with cleaner options.
China is emerging as a hub for solar panel and windmill manufacturing. It is well suited to leverage EV vehicles due to the abundance of rare earth minerals within china's own borders. Its policy of pursuing coal energy in the face of cleaner and more affordable power options remains an enigma to me. Fossil fuel based power is heavily criticized and attacked by the media in the west. While in the east it is embraced with bold plans in motion to extend the scale of coal based operations. How can this discrepansy be explained. What are the motives and reasons behind it.
Quote
China Uncensored
1.56M subscribers
China declares war on Bitcoin. Inner Mongolia, where a huge amount of bitcoin mining occurs, will be banning it. But the Bitcoin news is part of a broader attempt by the Chinese Communist Party to create a national digital currency that the Party controls.
1.56M subscribers
China declares war on Bitcoin. Inner Mongolia, where a huge amount of bitcoin mining occurs, will be banning it. But the Bitcoin news is part of a broader attempt by the Chinese Communist Party to create a national digital currency that the Party controls.
....
China claims it must "crackdown" on bitcoin to save the environment and the planet.
Given that a high percentage of cryptocurrency (pow) mining is powered through hydroelectric and green energy. The cost of which helps fund the expansion and development of cleaner non fossil fuel based plants around the world.
Perhaps we can propose an alternative if china is serious about fighting climate change and being Greta Thunberg's proud poster boy.
Quote
Chinese companies to build 700 coal plants in and outside China
Citing data gleaned from the world’s biggest developers of coal-fired power plants, Urgewald found that of all the new coal generation expected to go online over the next decade, Chinese companies will build nearly half of it. Specifically, that means 700 new coal plants, with most to be built in China, and about a fifth outside the country, according to figures provided by Urgewald and reported by the New York Times:
SIGN UP FOR THE ENERGY DIGEST
Overall, 1,600 coal plants are planned or under construction in 62 countries, said Urgewald, which uses data from the Global Coal Plant Tracker portal. The new plants would expand the world’s coal-fired power capacity by 43 per cent.
The fleet of new coal plants would make it virtually impossible to meet the goals set in the Paris climate accord. Electricity generated from fossil fuels such as coal is the biggest single contributor globally to the rise in carbon emissions, which scientists agree is causing the earth’s temperatures to rise.
https://www.mining.com/chinese-companies-build-700-coal-plants-outside-china/
Citing data gleaned from the world’s biggest developers of coal-fired power plants, Urgewald found that of all the new coal generation expected to go online over the next decade, Chinese companies will build nearly half of it. Specifically, that means 700 new coal plants, with most to be built in China, and about a fifth outside the country, according to figures provided by Urgewald and reported by the New York Times:
SIGN UP FOR THE ENERGY DIGEST
Overall, 1,600 coal plants are planned or under construction in 62 countries, said Urgewald, which uses data from the Global Coal Plant Tracker portal. The new plants would expand the world’s coal-fired power capacity by 43 per cent.
The fleet of new coal plants would make it virtually impossible to meet the goals set in the Paris climate accord. Electricity generated from fossil fuels such as coal is the biggest single contributor globally to the rise in carbon emissions, which scientists agree is causing the earth’s temperatures to rise.
https://www.mining.com/chinese-companies-build-700-coal-plants-outside-china/
China is known for having 14 out of the top 30 most polluted cities on the planet due to its heavy reliance on coal. In some places the air pollution is so bad, it is claimed simply living and breathing the air is like smoking two packs of cigarettes a day.
I am curious to know what peoples thoughts on these topics are.
Could the environment better be protected by china replacing its 700 planned coal power plants with cleaner options.
China is emerging as a hub for solar panel and windmill manufacturing. It is well suited to leverage EV vehicles due to the abundance of rare earth minerals within china's own borders. Its policy of pursuing coal energy in the face of cleaner and more affordable power options remains an enigma to me. Fossil fuel based power is heavily criticized and attacked by the media in the west. While in the east it is embraced with bold plans in motion to extend the scale of coal based operations. How can this discrepansy be explained. What are the motives and reasons behind it.
I can't believe this thing
Motherland of btc trying to ban it. How crazy those going.
Is China ever going to move on on the issue of BITCOIN?
Year in year out its china making the wrong news about crypto, I remember back then when such news surfaced price would usually go down but today that's not the case which is a win for crypto.
These guys need not to overlook the fact that Bitcoin is a livelihood for many and they should encourage Chinese crypto users to do more not forgetting the reduction of the carbon footprint bitcoin has by its miners thanks to green ways of producing electricity.
Year in year out its china making the wrong news about crypto, I remember back then when such news surfaced price would usually go down but today that's not the case which is a win for crypto.
These guys need not to overlook the fact that Bitcoin is a livelihood for many and they should encourage Chinese crypto users to do more not forgetting the reduction of the carbon footprint bitcoin has by its miners thanks to green ways of producing electricity.
as always they want to control the people,
In Bitcoin we trust 👍
In Bitcoin we trust 👍
China claims it must "crackdown" on bitcoin to save the environment and the planet.
A strange argument for a nation that continues to build coal-fired power plants on a large scale.
It's no secret that China has been trying to restrict and ban Bitcoin for years, but with moderate success so far. There were times with Bitcoin when such news would have caused a price slide, but luckily those days are over.
From what I heard and this is just my opinion, ok. I think the reason China is becoming hostile in Bitcoin is because it also has plans to make its own digital currency. I think that's just it, and it is only justifying environmental concerns that is why it is attacking Bitcoin. Also, many Chinese miners are into Bitcoin and they are situated in areas where there are minimal coal plants so I really cannot believe what the government is saying. Anyway, Bitcoin will not be affected by this news.
This is hardly a war on bitcoin. The Chinese government may take action to reduce the energy consumption of bitcoin mining farms. This will have little or no effect on bitcoin mining in the world.
Rumors about the Chinese government's struggle with cryptocurrency are so common that they become almost regular. However, we do not see a real fight by the Chinese government with cryptocurrency. Most likely, a policy of crowding out the cryptocurrency is being pursued, including by issuing its own digitized yuan.
Actually it's impossible that because of this there will be no effect to the bitcoin because I am seeing that it would be have a large effect due to that this China is one of the biggest mining country of bitcoin and other cryptocurrency so if they will reduce the energy consumption of the bitcoin miners then probably the amount of bitcoin that will be mined will also decrease. And this will go along vice versa. I dont think that the reason behind of this reducing energy consumption are having a environmental problem, I am pretty sure that there is a big reason why they are doing this. Rumors about the Chinese government's struggle with cryptocurrency are so common that they become almost regular. However, we do not see a real fight by the Chinese government with cryptocurrency. Most likely, a policy of crowding out the cryptocurrency is being pursued, including by issuing its own digitized yuan.
The 'Hash-War' still ongoing
Energy is needed to keep things save - but if not really used (but for ponzi or defi crap) things get messy
this also is such a result of: PoS is better (but it isnt)
https://cointelegraph.com/news/eth2-transition-accelerates-amid-rumblings-of-a-miner-rebellion
Energy is needed to keep things save - but if not really used (but for ponzi or defi crap) things get messy
this also is such a result of: PoS is better (but it isnt)
https://cointelegraph.com/news/eth2-transition-accelerates-amid-rumblings-of-a-miner-rebellion
This is hardly a war on bitcoin. The Chinese government may take action to reduce the energy consumption of bitcoin mining farms. This will have little or no effect on bitcoin mining in the world.
Rumors about the Chinese government's struggle with cryptocurrency are so common that they become almost regular. However, we do not see a real fight by the Chinese government with cryptocurrency. Most likely, a policy of crowding out the cryptocurrency is being pursued, including by issuing its own digitized yuan.
Rumors about the Chinese government's struggle with cryptocurrency are so common that they become almost regular. However, we do not see a real fight by the Chinese government with cryptocurrency. Most likely, a policy of crowding out the cryptocurrency is being pursued, including by issuing its own digitized yuan.
The Chinese government's attitude towards cryptocurrencies, and bitcoin in particular, is ambiguous.
Chinese President Xi Jinping has announced reducing greenhouse gas emissions as one of his priorities. The official goal set by the government is to reach the peak of emissions by 2030, and by 2060 to make the country carbon neutral.
The province, which is located in northern China, failed to meet the criteria for limiting electricity consumption in 2019 set by the government. That is why the local authorities received an official reprimand from Beijing. In response, they drew up a plan that envisages a drastic reduction in electricity consumption.
Part of the strategy is to close some of the major bitcoin farms in the province by April this year, as well as impose a moratorium on the opening of new ones. Other energy-intensive industries, such as steel and coal, are also likely to be affected.
On the one hand, the ruling Communist Party has an interest in developing the blockchain technologies that underlie bitcoin, but on the other hand it is pushing for tighter regulations on digital currency transactions.
In 2017, Beijing banned initial offers of cryptocurrencies as a way to attract funding from private entities.
But on the other hand, the Chinese government is taking a big step toward mass adoption of the digital Yuan.
Therefore, in my opinion, the expression that China has declared war on cryptocurrencies is not the most correct statement.
Chinese President Xi Jinping has announced reducing greenhouse gas emissions as one of his priorities. The official goal set by the government is to reach the peak of emissions by 2030, and by 2060 to make the country carbon neutral.
The province, which is located in northern China, failed to meet the criteria for limiting electricity consumption in 2019 set by the government. That is why the local authorities received an official reprimand from Beijing. In response, they drew up a plan that envisages a drastic reduction in electricity consumption.
Part of the strategy is to close some of the major bitcoin farms in the province by April this year, as well as impose a moratorium on the opening of new ones. Other energy-intensive industries, such as steel and coal, are also likely to be affected.
On the one hand, the ruling Communist Party has an interest in developing the blockchain technologies that underlie bitcoin, but on the other hand it is pushing for tighter regulations on digital currency transactions.
In 2017, Beijing banned initial offers of cryptocurrencies as a way to attract funding from private entities.
But on the other hand, the Chinese government is taking a big step toward mass adoption of the digital Yuan.
Therefore, in my opinion, the expression that China has declared war on cryptocurrencies is not the most correct statement.
Sometimes the news from Asian countries are distorted when they are re-published in the Western world. I remember reading about this probably weeks ago, so it isn't news either.
There is no change from the Chinese government on the stance it has today, maybe if there is change it is for the better. I was expecting mining ban years ago, right now it is not going to happen. Mining along with the production of hardware is an industry for China and it adds to economy growth. It won't damage the economy if it completely bans it, but it will be idiotic.
There is no change from the Chinese government on the stance it has today, maybe if there is change it is for the better. I was expecting mining ban years ago, right now it is not going to happen. Mining along with the production of hardware is an industry for China and it adds to economy growth. It won't damage the economy if it completely bans it, but it will be idiotic.
If it's true (and I'm not convinced it is), then the environment talk is just a smokescreen. The real motivation would obviously be petty national interests. But I'd sooner jump to the conclusion that it's just more clickbait nonsense from desperate cryptomedia outfits trying to stay relevant. They have to latch on to every last rumour simply in order to have something fresh to publish. Failing that, they resort to republishing old stories with a fresh spin (which could well be what's happening again here).
If china do want a crackdown to save the environment how about they do something about the factories there? They are specifically doing it because they did try to : dominate but it failed so at the end of the day they are thinking of eradicating the bitcoins from the market as a whole. Now there are a lot of chinese people involved in bitcoins but last time also they made a move like that the people relocated , which did make it weird for the authorities since these were the tech savvy people and had a lot of strength in the economic section. Then china again removed the ban and they went forward to find new ways, to regulate it, they are infact just trying and controlling the market, trying to make the market crash at this moment so that people can wait and sell..which would mean that they would have an opportunity to buy at such a low price !! It's just their market tactics. What goes on the top and what goes at the bottom of all this.
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