Topic: China plans closing Bitcoin mining. - page 11. (Read 3520 times)
You created your post on the 8th of January. As you can see nothing happened and I think we won't see any changes in the nearest future
Every government are doing what you want about Bitcoin. But my personal mind about it, people must do what they want, why somebody know better about what's wishes of the people. If somebody want to mine bitcoin he can do it.
can we really trust Chinese government not to change their mind?
Chinese govt might or might not change their mind but if they do then the prices will be as stable as they are now but if they don’t there will be a sudden disturbance in the market and the supply to demand ratio might be affected and the prices can either rocket high or they may plunge back to 2k dollar mark, No one really knows what is to come so it will be better to keep fingers crossed and pray for the rise. 
What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?
Those holding btc just brace yourself fasten your seat bet for possible vortex of price.
If china closes their rigs of bitcoin mining then I suppose the prices will rocket up again to 15k ish dollars cause the supply will become lesser then demand and hence the prices will sky rocket again. This could overshoot the price to the moon or plunge the price below the ground?
Those holding btc just brace yourself fasten your seat bet for possible vortex of price.
Well you never know it can fall too, for bitcoin investors its really the time to brace themselves for a vortex of price changes but at the end I guess it will be all sunny with high profits for all due to the price rise I am expecting to happen if the rigs are closed.
I think the impact of this bitcoin mining ban in China will also puncture the transaction time, causing increased fees to be paid to transfer bitcoin. This could negatively affect the value, as it would make cryptocurrency less practical as an alternative to the normal currency.
Bitcoin currency could never really replace the normal currency even in its peak time, due to such a volatile rate of bitcoin, users around the world see it more as an investment rather than an asset or currency and hence it failed to achieve the tag of digital currency rather it is now just a digital investment where investors are attracted daily to make huge profits. 
What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?
Those holding btc just brace yourself fasten your seat bet for possible vortex of price.
This has little impact on Bitcoin as large Bitcoin mining companies are now shipping to colder, low-cost countries. And most of these countries accept Bitcoins and Crypto. Do not worry too much because the ban does not affect the market and the market continues to trend up.This could overshoot the price to the moon or plunge the price below the ground?
Those holding btc just brace yourself fasten your seat bet for possible vortex of price.
I think, that it won't has involve on the price of bitcoin, because it's not a news for miners)
Mining of bitcoins - because of "consumption of a huge amount of electricity and heated speculation with virtual currencies". This may include, in particular, the direct restriction of the supply of electricity to miners. In China, almost 80% of the world's mining capacities are located, and their closure can seriously affect the market of bitcoins.
true there could be a lot of currency also that are may affect if this may ever be happen , well we cant blame them they re having own decision and opinion for why is it can be happen and why they have to.
Recently, a lot of negative news is coming from China, maybe they are doing manipulation in the market in this way ..
This news appears not the first time. This has already happened before. I think this is another manipulation of the market. I do not think that's possible. In China, most of the equipment for mining is being made. They do not benefit from this and the Chinese authorities will not take this step. I think that you can not worry about this.
This isn't the first time we've heard FUD news coming from China. It's like they're deliberately spreading fear to stock up on cheap crypto.
Absolutely right this is not first FUD news. There are many news against bitcoin and cryptocurrency. But it affect just sometimes on the market. Bitcoin still going on his way. So, do not disapponted if you hear any bad news as like this.
Mining of bitcoins - because of "consumption of a huge amount of electricity and heated speculation with virtual currencies". This may include, in particular, the direct restriction of the supply of electricity to miners. In China, almost 80% of the world's mining capacities are located, and their closure can seriously affect the market of bitcoins.
Not much will change, miners have already packed up shop and moved to USA / Canada, to areas where electricity is cheap. It will hurt their top line but that's about it.
If china bans BTC mining operations two things will happen for sure.
There will be a shortage and price will go up
After closing mining farms, value will increase but so will the transaction Times, and bottleneck effect will be much worse than it is now. So we will get a coin that has terrible transaction times, but also with more value. I wonder what will happen in long term after this. Some say Russia is planning to take Chinas place as major mining country, even though they have Siberia (great place for mining Very cold and very cheap electricity) That's unlikely, because In past couple decades Russia has not made any significant technological advancement in any field.
There will be a shortage and price will go up
After closing mining farms, value will increase but so will the transaction Times, and bottleneck effect will be much worse than it is now. So we will get a coin that has terrible transaction times, but also with more value. I wonder what will happen in long term after this. Some say Russia is planning to take Chinas place as major mining country, even though they have Siberia (great place for mining Very cold and very cheap electricity) That's unlikely, because In past couple decades Russia has not made any significant technological advancement in any field.
Well this is a very bad news for bitcoin because china is a major influencer on bitcoin. If china decide to close all bitcoin mining within their country it will drastically reduce transaction mining and whole bitcoin network will get congested as china is holding large percentage of bitcoin mining industry. But I don't think this will happen because there are lot of people who knows the value of bitcoin.
I have heard about the Chinese issue that will close this mining access. But I'm not sure if everyone in China will obey this rule. I can be sure that many hidden people are secretly still doing bitcoin mining. Bitcoin mining offers fantastic benefits for those who can do it with a smart and correct strategy. This certainly makes everyone even crypto currency players from China do not want to miss this opportunity. I am sure if the willingness of people still strong to survive in crypto currency then the policy or regulation is not 100% meaningful.
can we really trust Chinese government not to change their mind?
No and never as they're stands changing from one to anotherConsistency is far from them to reality so i think theyre just making some noise again as they are not getting any attention this days.what i wantyou to do OP is stop patronizing China and make your assignments here,dont bother asking about them since they dont wanted to be part of us
About 80% of miners based in the country are very interested in China's ban on bitcoin mining.
This is being done with measures such as tightening electricity prices, land use rights, environmental taxes, and more.
Although, China has a huge advantage in digging Ethereum, Bitcoin Cash, Zcash and many other types of coins due to the labor and electricity prices are quite cheap. However, this will soon end when the Chinese government is aiming to close the market.
This is being done with measures such as tightening electricity prices, land use rights, environmental taxes, and more.
Although, China has a huge advantage in digging Ethereum, Bitcoin Cash, Zcash and many other types of coins due to the labor and electricity prices are quite cheap. However, this will soon end when the Chinese government is aiming to close the market.
Although China's mining business accounts for more than 70% of the world's mining industry, these mines use idle electricity, which is helpful to China's foreign exchange earnings.
I don't think that this is a very practical option. If China bans the mining, then the mining farms will be shifted to some other country, such as Mongolia or Russia. In the end, the government will lose out on tax revenue.
Jump to: