Topic: China plans closing Bitcoin mining. - page 5. (Read 3520 times)
If this is true, it will be a very huge blow for bitcoin and the cryptocurrency world at large... If that's the plan, I hope they have a change of mind in the time to come.. But what ever happens, bitcoin will eventually find its way...
Of course that is normal in China because they are very smart and reshape bitcoin to China with things that have been planned to include big people.
This cannnever be done especially in China. They are brain stromers and to stop working with the ongoing blockchain technology they cann’t even think of. Money makers will not easily let it go.
china is a verry strict country in the asia so it not surprising if they will ever ban mining and infact china had ban ico's and crypto exchanges before if im not mistaken .
i think this is a good news for most miners because the competition can now decline and as well as the difficulty in mining . this isnt also a big loss and wont affect the cryptos too much because china didnt ban the crypto currencies .
At the very worst all the China farms will move somewhere else. These are multimillion dollar companies with a ton of capital invested into hardware. They are not just going to fold, liquidate and stop mining. There may be a brief period of network bottlenecks as things shift around and re settle. The price might shoot up temporarily. But eventually things will calm and life will go in as normal.
Today I found the news which you are talking about. Actually, China didn't ban Bitcoin but there's another thing which they banned in their country.
China bans ICO's in their country. And this step could be effect individually.
China bans ICO's in their country. And this step could be effect individually.
For me this can increase the value of Btc. We know that the current to exploit Btc takes a lot of energy. If China builds more Btc plants, they will push the value of Btc up so they get back what they have invested in Btc plants.
Its not the first time about China try to close mining ,I think they will soon change there mind soon ,I'd wait till they actually close down bitcoin mining but until then I don't believe
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.
Will if this news are true,i thinks in my own opinion there is a positive and negative impacts into the worlds of cryptocurrency,the positive impacts are maybe theres a big possibility that the foreign rig,or miners would cultivate more growth,because of shutdown of china miners investment but the negative impacts maybe the group of crypto country will be loosing one supporter in digital firm and thats the chinese people.
This cannnever be done especially in China. They are brain stromers and to stop working with the ongoing blockchain technology they cann’t even think of. Money makers will not easily let it go.
Even if China stops mining bitcoin it will mean that people around the world will be interested in it as there will be more reward for the block !
Why is China doing such a bad thing, it makes me dislike China. Mining is one way to get bitcoin and if it is closed it will affect bitcoin.
Exactly, I don't know why China will do that, it will affect so much Bitcoin, as China population is very huge, so we will see clearly the affects when they close but Bitcoin mining. I hope that they consider that and change there decision about that because it always do some bad things that kill Bitcoin slowly. 
Will it really be done in China? I think the biggest miner is currently in China. If that happens it might make bitcoin miners worse. I think this is bad news. Hopefully the Chinese government is not serious about closing it.
It seems to me that this will not happen. China as the center of Asia, is the largest coin miner, and bitcoin is no exception. Why should they close the booty? 
China can never eradicate Bitcoin mining completely looking at how the Bitcoin mining industry like BitMAIN is flourishing in China. Bitcoin will meet a new adoption trend in the whole of Asia which will be spearheaded by China some few years to come.
In China there are very strict laws.Don't know how they ever managed to put as many farms)))Mining complicated with each day,this should lead to higher prices.But in practice we see quite the opposite situation.I don't even know why.In General,the reasons for this are of course a lot without China enough.Belts fastened long ago and just enjoy the show.As always, we hope for the best.
If i'm not wrong china is the country with more miners, that could be a hard hit for the mining networks.
But we know how china work, if they get their miners blocked then they will send the miners to other country and for sure Russia want those making money machines
But we know how china work, if they get their miners blocked then they will send the miners to other country and for sure Russia want those making money machines
I think if this happens this will have an impact on the price of bitcoin even though it won't be how much. Most of the well-known bitcoin mining companies turn to cold countries ... we don't need to worry about this
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 there is a gap, something will fill it, which means that if China closes its mining pools somebody will take their place very quickly.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.
Such a scenario could certainly affect the price of Bitcoin, though I'm not sure whether it will fall or rise.
That's the news of course.. They have the most farms are.. let's hope that the price will fly up not otherwise)
I think In the past, China has vowed to ban ICO investment activities, block all Bitcoin and ICO advertisements aimed at minimizing fraudulent activities. Now, China plans to start exploiting bitcoin.
I don't really believe in China. Because they can change their minds anytime.
As far as I know, China is systematically moving to bitcoin mining with the help of alternative energy sources.If the ban now really come into force then we will see the speed of transactions is very low.Some percentage of dissatisfied may refuse bitcoin.So that's not good news.
Jump to: