Topic: China plans closing Bitcoin mining. - page 16. (Read 3520 times)
There is nothing that China can do that will affect bitcoin. That’s what makes bitcoin great. Not even the world’s most populous nation can influence it.
I read some article about it before that china is blocking all the relation of their country on bitcoin, But suddenly theres a new news about it after a months that they will accept it again if im not mistaken, I think if they will going to do that again there will be a huge impact again on bitcoin price like it will fall again like what happened before.
This is just a rumor, China does not really close their mining and to date, China is still the country with the largest bitcoin mining location.
But if one day it will indeed be done, I think it will be good news. Because if they stop mining, the amount of bitcoin will be limited and the amount of bitcoin in the market will not be equal to the amount of demand, which means that bitcoin value will become more expensive and this is much better than pumping.
But if one day it will indeed be done, I think it will be good news. Because if they stop mining, the amount of bitcoin will be limited and the amount of bitcoin in the market will not be equal to the amount of demand, which means that bitcoin value will become more expensive and this is much better than pumping.
This information needs to be confirmed, as it can be disinformation that will cause panic among investors. But I think even if you stop mining in one place, appear in another.
On the off chance that China shut all mining in their nation at that point there will be an immense decrease of bitcoin mineworkers and I figure it will enormously influence the exchange speed and expenses in addition to and gigantic measure of bitcoin diggers as well as bitcoin clients. I can just envision that the cost of bitcoin will significantly diminish again and will be difficult to recoup. Well despite everything I trust that something to that effect won't occur.
I think the impact is limited because the major mining companies
Moves to other countries accept btc
Its atmosphere is cold
I think the effect is limited
Moves to other countries accept btc
Its atmosphere is cold
I think the effect is limited
China has no good purpose for bitcoin, they are greedy and want to dominate the bitcoin market, but their greedy makes the bitcoin market out of control.
but, we assume that Chinese mining has a major influence on bitcoin stability, to this day they still control the bitcoin market, when they close the mines, the bitcoin will drops. and we feel today.
but, we assume that Chinese mining has a major influence on bitcoin stability, to this day they still control the bitcoin market, when they close the mines, the bitcoin will drops. and we feel today.
Naah not really, they are doing the same instead
And if ever this is the case then a bad news for everybody
As we all know china ever since has been one of the coutries that supports bitcoin but because of hoax (fake news) the government seems became less interested in bitcoin and other currencies
I believe that china government does not really plan to close bitcoin mining (all of it) but rather close mining sites that are illegal
You see bitcoin mining can be taxed now
And if ever this is the case then a bad news for everybody
As we all know china ever since has been one of the coutries that supports bitcoin but because of hoax (fake news) the government seems became less interested in bitcoin and other currencies
I believe that china government does not really plan to close bitcoin mining (all of it) but rather close mining sites that are illegal
You see bitcoin mining can be taxed now
This is very good news for the development of electronic money in the future. I like china very much, this country always innovates and absorbs and applies technology to life. China don't plans closing Bitcoin mining.
You know, China authorities have already cracked down on thousands of criminal cases associated with alternative cryptocurrencies, including Onecoin and Ticcoin. These cryptocurrencies were viewed as Ponzi schemes used to raise illicit funds. Later, officials shut down cryptocurrency exchanges and banned fundraising through initial coin offerings (ICOs).
I think the Chinese ban does not have too much influence on the crypto market. Because most of us operate anonymously, transactions are still made and secret. Besides, I think the price of Bitcoin will soon rise again when the market is increasingly scarce and hard to find them.
I don't think so. The biggest bitcoin mining powers are located in China and if they all collude they may become a serious threat for the whole market.
I think the Chinese ban does not have too much influence on the crypto market. Because most of us operate anonymously, transactions are still made and secret. Besides, I think the price of Bitcoin will soon rise again when the market is increasingly scarce and hard to find them.
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.
I think it will affect on the system strongly because there are many big miners in china.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.
The price might drop so much.
The energy issue is a problem......The government and even some bitcoin enthusiasts have argued that bitcoin mining must switch to renewable energy...so in my opinion, the entire mining process should be altered so that it does not rely on enormous amounts of energy instead of banning the mines
If China bans bitcoin mining,then that would cause a drop in supply of bitcoins as we already know that China holds the majority of mining farms in the world.It may increase the price of bitcoin and it would be better to buy more bitcoins after checking the authenticity of the news.
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.
China in my opinion is a developed and developing country if they prohibit mining certainly has a strong reason when it happens 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.
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 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.
Friends, China is the most important manufacturer of graphics cards and asics. It can release so many mining farms and negotiate the installation of its computers in the cold regions of Russia, or other cold regions (county) where bitcoin is legalized. It's not a problem for them. Believe me.....
even if they ban it, new producers will emerge. That is the beauty of the free markets, if there is an economic incentive, people wlll simply find a way to replace them, that's just natural.
China is planning to limit electricity to Bitcoin miners, and government bodies have expressed concern about energy usage. Bitcoin mining is estimated to use up to 4 gigawatts of electricity, equivalent to three nuclear reactors' production levels. So, I think it is the mainly reason to ban mining bitcoin.
China plans to close its bitcoin-producing mine, because it makes electricity consumption more wasteful and includes risky investments. This is in line with the assessment of the authorities that digital currency (cryptocurrency) is not a strategic industry.
A number of institutions are asking the provincial government to "actively guide" companies in each region out of the bitcoin industry.
As known, miners create new bitcoins by breaking complex code to get validation of new bitcoin transactions. While not really using complicated computational processes, digital currency mining relies on large computing power making it more like a factory industry than traditional high-tech businesses.
Many of bitcoin miners operate in remote areas without registering their business. Some miners also ignore local regulations that prohibit consumers from buying electricity directly from manufacturers compared to grid operators.
A number of institutions are asking the provincial government to "actively guide" companies in each region out of the bitcoin industry.
As known, miners create new bitcoins by breaking complex code to get validation of new bitcoin transactions. While not really using complicated computational processes, digital currency mining relies on large computing power making it more like a factory industry than traditional high-tech businesses.
Many of bitcoin miners operate in remote areas without registering their business. Some miners also ignore local regulations that prohibit consumers from buying electricity directly from manufacturers compared to grid operators.
What implication if chinese trully close every bitcoin mining operation on that country, the price will go to the moon or the bitcoin price will going down to the bottom??
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