Topic: China is thinking about unbanning bitcoin mining after price rise - page 5. (Read 839 times)
October 26, 2021, 10:34:51 AM
I'm not sure if they will do such a thing anytime soon, they are still trying to ban crypto in new different fields, and in my idea changing the reactions is possible for China and other countries, also this was maybe even a part of the plan to firstly ban bitcoin and then get into in it in the right place, But considering what we know about economic communism that's not really possible to see China making such decision anytime soon.
October 26, 2021, 10:27:49 AM
I doubt it has to do with China's return to bitcoin support. It is best to stop bringing bitcoins to slaughterhouses in China. They shot themselves in the foot in the battle for the top spot in the world trying to crash bitcoin. Except the reasons behind them need to be explained. But bitcoin doesn't need any support from them from now on, bitcoin is freedom
October 26, 2021, 10:08:53 AM
What do bitcointalk’s community and users think and speculate about this latest news development? Would anyone consider that the Chinese government might be recognizing that they have made a mistake and might be ready to unban mining for bitcoin and other cryptocoins?
Someday we will hear china will unban bitcoin & crypto currencies. That's the reason we should not take much notice if any country ban crypto. If they do it, they will soon realize their mistakes.
Only the people of china who deal with crypto are sufferings from this ban. Think of people investing in mining farms and later they know that they can't operate them because it now illegal in the country.
October 26, 2021, 10:05:59 AM
The ban of crypto in China really didn't made much of a negative impact for a period of time since mining farms from other countries managed to produce more and Bitcoin easily recovered in a month and unbanning it (if OP's source is legitimate) won't really make much of an impact anymore, we really don't need China's help as it looks sustainable even without them.
With the number of farms disappearing almost completely in China, even if they have thoughts to reverse and switch again, the farmers also no longer have the courage to entangle and prolong with the government, China wants to remove the decision is easy but it is not easy for farmers to move their entire factory, every day is to lose a lot of money, moving facilities back is too scary and risky. However, it is also impossible to think that their lifting of the ban cannot create ripples, this crypto house is also no ordinary person and lacks influence, rebuilding reputation is also very fast 
October 26, 2021, 09:39:46 AM
I am buying cheap bank stocks.
Both crypto and traditional finance now.
Both crypto and traditional finance now.
October 26, 2021, 09:35:49 AM
I will rule out the validity of this news, because basically China is just a toxic country for the crypto community.
It's a collective request for advice and feedback. So, news speculation ahead: The Chinese government will set up a bitcoin mining farm with artificial solar energy to rival Elsalvador with its volcano resourced energy?
Is there anyone who wants to spam this form by filling in the feedback text with "We don't care"?
It's a collective request for advice and feedback. So, news speculation ahead: The Chinese government will set up a bitcoin mining farm with artificial solar energy to rival Elsalvador with its volcano resourced energy?
Is there anyone who wants to spam this form by filling in the feedback text with "We don't care"?
October 26, 2021, 09:26:48 AM
They should not have done that in the first place. China being the highest ranked mining hub, could have been different world when the prices hit the ATH last week. Just imagine if they still had those miners in the country then they would have earned handsome money. In the process considering the Chinese tracking system they would have easily traced the unattended taxes and gotten paid for the same. They would have flourished in all different ways I would say. There is no point in the current decision making process. Once you loose the faith from the regulatory bodies then you are literally left out with negativity.
October 26, 2021, 09:22:27 AM
This does not look like China, but the moment has been missed, many miners have migrated to neighboring countries or even sold equipment.To put it mildly, trust has already been lost, and I think miners will think several times before deploying mining farms in China.
October 26, 2021, 08:34:50 AM
This China re-thinks its crypto strategy is bullshit posted by market manipulators. Nothing, absolutely nothing, indicates that China becomes more friendly to crypto. And that is good. Crypto and China just don't fit.
October 26, 2021, 08:24:46 AM
If there is one thing that I have learned about China through all these years in this industry, it is that there is no sense in taking their announcements about crypto currencies any seriously. only thing you should do with the things they say is use it to take advantage of the market since a lot of people are also doing so along with the people who still genuinely believe what they say.
October 26, 2021, 08:15:21 AM
What do bitcointalk’s community and users think and speculate about this latest news development? Would anyone consider that the Chinese government might be recognizing that they have made a mistake and might be ready to unban mining for bitcoin and other cryptocoins?
According to CoinTelegraph, China’s National Development and Reform Commission (CNDRM) is now seeking public opinion on the inclusion of crypto mining in its list of “phased-out” industries, after seeing that the ban helped the U.S. to become the world’s dominant crypto mining nation.
It looked like China’s stance regarding crypto mining was finally cemented with the ban imposed in May this year, after it had been going back and forth on the issue since 2019, but now, they are skeptical after most of the Bitcoin hashing power was relocated from China to other states, helping the U.S. become the leading hashrate provider.
Read in full https://digesttime.com/2021/10/24/china-is-thinking-about-unbanning-bitcoin-and-started-a-new-research/
According to CoinTelegraph, China’s National Development and Reform Commission (CNDRM) is now seeking public opinion on the inclusion of crypto mining in its list of “phased-out” industries, after seeing that the ban helped the U.S. to become the world’s dominant crypto mining nation.
It looked like China’s stance regarding crypto mining was finally cemented with the ban imposed in May this year, after it had been going back and forth on the issue since 2019, but now, they are skeptical after most of the Bitcoin hashing power was relocated from China to other states, helping the U.S. become the leading hashrate provider.
Read in full https://digesttime.com/2021/10/24/china-is-thinking-about-unbanning-bitcoin-and-started-a-new-research/
Chinese are business minded so expect that they will do this since knowing how huge the profit they can get with crypto and they need to create hype right now as the market is so bullish so for sure they are earning on the current situation of the market. But be careful on the return since once they settle they will spread again the fuds about banning bitcoin,crypto or anything what they can use. So for that its good not to listen on what China said about in that article.
October 26, 2021, 08:00:18 AM
What do bitcointalk’s community and users think and speculate about this latest news development? Would anyone consider that the Chinese government might be recognizing that they have made a mistake and might be ready to unban mining for bitcoin and other cryptocoins?
Maybe I myself if I can remember about crypto issues, especially Bitcoin in China, have discussed it many times, I often say China is sneaky in trading, they justify all means to achieve the greatest possible profit, the proof is: now they want to show news about not banning miners there, it's a reason that they are already at the peak of profit.How many times do i have to say every news published by china banning bitcoin, it's bullshit, they don't care how many victims, what they do and their actions spread negative news, the important thing is that they make big profits, it's chinese, slicker than America, remember that.
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October 26, 2021, 07:22:51 AM
This is the joke of the century and the Chinese government must be one of the most naive/goofy governments in the world for thinking to unban Bitcoin after banning it before.
I think they believe in the naive understanding of some people that the Chinese controls Bitcoin that's the reason why they are placing a ban on Bitcoin every time they wanted and the good thing is that their ban on Bitcoin mining which they are now planning to unban will make the mining system more decentralized.
I think they believe in the naive understanding of some people that the Chinese controls Bitcoin that's the reason why they are placing a ban on Bitcoin every time they wanted and the good thing is that their ban on Bitcoin mining which they are now planning to unban will make the mining system more decentralized.
October 26, 2021, 07:09:38 AM
ok, why are we so concerned about what China does or doesnt do?
They banned Bitcoin this year as so many have posted above and apart from a
very short term pull back in the markets, order has been restored. The same goes
for this current "News" article, if its true, fine, China is friendly to Bitcoin again,
things will move on as they do and we will wait until they ban it again.
There have been countless "China" themed threads on the forum and all related
moves by China to date have done little to Bitcoins growth.
They banned Bitcoin this year as so many have posted above and apart from a
very short term pull back in the markets, order has been restored. The same goes
for this current "News" article, if its true, fine, China is friendly to Bitcoin again,
things will move on as they do and we will wait until they ban it again.
There have been countless "China" themed threads on the forum and all related
moves by China to date have done little to Bitcoins growth.
October 26, 2021, 07:06:19 AM
At best, there's a discussion about it. I can see the article mentions they're seeking public opinion. But given how authoritarian China is, I'm not sure what 'public opinion' means. What if they only expect people to say that mining should stay banned and will censor anyone who has a different opinion? What if it's just a democracy stunt, not a real attempt to change anything?
I can see how China might be upset that the US is taking away this market, but I don't trust in public opinions in China.
I can see how China might be upset that the US is taking away this market, but I don't trust in public opinions in China.
October 26, 2021, 07:01:45 AM
I can't think of anything on this. China just banned bitcoin and crypto this year. however, if due to rising prices, China plans to unban bitcoin or crypto, that sounds like an unwise decision. it also does not guarantee whether China will continue to accept bitcoin or not. I think, in the future, it will affect the price of bitcoin again in the future. well, this keeps happening over and over again.
October 26, 2021, 06:49:07 AM
China ban Bitcoin and mining multiple times and they unban those activities many times too.
In the last year, China realized that they have problems with energy supply for the nation that triggered their serious actions against Bitcoin mining. Crisis comes and goes so we can not predict with their crisis will end and when they will unban Bitcoin mining but they will unban it.
In the last year, China realized that they have problems with energy supply for the nation that triggered their serious actions against Bitcoin mining. Crisis comes and goes so we can not predict with their crisis will end and when they will unban Bitcoin mining but they will unban it.
October 26, 2021, 06:31:47 AM
I thought they issued the ban because of their CBDC but some members also pointed out they were really after complete regulation which I also find logical. Personally, I don't care what they do over there anymore. The entire market already moved on and if they plan to catch up, then so be it.
October 26, 2021, 06:03:49 AM
Is this a reliable news article? It seems the news does not have anything solid to say. It is purely speculation. This is like one of the many crypto-related articles that are published on online news sites for the sake of having released a new article.
"...is now seeking public opinion", what the hell China. Are you joking or are you a joke yourself? 
I gotta say they have put 14 year old on the national development body and he is not able to make the mind on how to develop the nation!
This is a serious joke now, that they are asking the same peeps, whether to bring back the crypto or not. I mean who is going to believe on them now?
I gotta say they have put 14 year old on the national development body and he is not able to make the mind on how to develop the nation!
This is a serious joke now, that they are asking the same peeps, whether to bring back the crypto or not. I mean who is going to believe on them now?
I'm glad to see that there are still people who think for themselves and don't blindly believe in what third-rate crypto portals like this are writing, and just for more profit trying to make a sensation out of every little thing. Bitcoin has never been dependent on China or the US, so it's really not clear to me why a good portion of the crypto community is so excited about what China will do about Bitcoin, or what it won't do.
If people still think that China has lost some profit because it has banned crypto trading and mining, it should look at how much Chinese GDP actually is and how much crypto has contributed to that. If we take the simplest example, miners mine about 27 000 BTC a month and earn a certain fee income - @stompix has calculated the exact amount somewhere, but even if China holds 100% of the mining capacity, the amount they would earn is quite trivial overall.
October 26, 2021, 05:36:34 AM
Quote from: https://digesttime.com/2021/10/24/china-is-thinking-about-unbanning-bitcoin-and-started-a-new-research/
According to CoinTelegraph, China’s National Development and Reform Commission (CNDRM) is now seeking public opinion on the inclusion of crypto mining in its list of “phased-out” industries
Only this part of this news which seems to be true (after using google transaction on the source), while the rest is opinion/speculation. I doubt there'll be any drastic action anytime soon.
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