China plans closing Bitcoin mining. - page 8.

rickyNmorty

member

Activity: 451

Merit: 15

Investor

Quote from: Palma_Laura on April 24, 2018, 03:29:44 AM

I think it impossible because Most of miner in the world is Chinese and it cause unemployment in the economic,Government don't want it

As far as I know there is a criteria for having the number or the percentage of those who are unemployed to those who can nlt work at the same time to those peopl who did not want to work. But going back to the topic, this might really not affect bitcoin big time, because as we all know the conflict between bitcoin and China happens a long time ago therefore, bitcoin already did adjustment on what China can bring. Therefore there is nothing to be afraid of, it is not bitcoin's loss but China's.

DenSamui

newbie

Activity: 98

Merit: 0

A lot of different similar plans were in China and as a result, almost all these plans were eventually changed. It is difficult to understand what the Chinese have in mind.

taeewo

full member

Activity: 392

Merit: 100

They have largest mining farm in the world and hope this wont have negative effects on the price of bitcoin.

angchosenone

newbie

Activity: 112

Merit: 0

This has little effect on Bitcoin as vast Bitcoin mining organizations are currently delivering to colder, ease nations. Also, the greater part of these nations acknowledge Bitcoins and Crypto. Try not to stress excessively on the grounds that the boycott does not influence the market and the market keeps on slanting up.

Almirante3

newbie

Activity: 29

Merit: 0

Some of China's largest Bitcoin miners are already moving their operations overseas, with the US and Canada among the most popular options. But even so, the big miners have doubts about the effectiveness of state repression: on the one hand, local governments have strong incentives to keep large mining companies in their localities, given the huge tax and electricity rates pay.

kucritt

full member

Activity: 616

Merit: 100

we all know that china has the biggest bitcoin mining, if they close that bitcoin mining the price of bitcoin will stable because there are only people that mining with big rig like china, so the market demand and the stock is not overloaded it just my opinion about it

Leyss

member

Activity: 574

Merit: 12

From China, there are very peculiar news. Recently announced the existence of a two-year program to completely ban decentralized crypto currency. Then stopping the production of bitcoins may well correspond to such a decision.
At the same time, China now has the largest number of patents for the introduction of blockchein technology. What does it say? In China, the advanced technology blockchein is very actively introduced, as for the crypto currency, there they are looking for their own solutions to this issue, but they are not going to recognize their own crypto currency. They will not refuse at all from crypto currency, but only try to create all their own. They try to avoid all other countries in the issue of crypto currency. Well, let's see what they can do.

Almirante3

newbie

Activity: 29

Merit: 0

China accounts for more than two-thirds of the world's processing power devoted to Bitcoin mining. It is also home to some of the world's leading developers of mining hardware, which usually also operate large mining pools.

Verde_Mantis

member

Activity: 336

Merit: 52

Quote from: honeyira on January 09, 2018, 01:25:20 AM

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.

Why don't they just do it and then get out of bitcoin forever? I'm so so tired of reading about China and bitcoin here, China and bitcoin there... They don't want them? Ok, no problem, there are other 200 countries in the world, we can live anyway.

Raggie

member

Activity: 462

Merit: 10

Quote from: honeyira on January 09, 2018, 01:25:20 AM

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 don't think it will really happening. If china close their mining activity, bitcoin price will be dump because they will become easy to mine due the dropping difficulty. This is because there are many miners from china mining bitcoin currently. Do you have any sources supporting this news ?

ExtremeFacials.com

member

Activity: 190

Merit: 10

Quote from: honeyira on January 09, 2018, 01:25:20 AM

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 should not make such a plan, as it will affect the whole network of crypt-exchange system. China is one of the countries where extraction is found on a large scale. In my understanding, the closure of property extraction can lead to an increase in demand for bitcoins, which will lead to higher prices, and can cause things in reverse order.

VK.point

jr. member

Activity: 294

Merit: 1

(https://exip.live/)

even I do not understand why china closes bitcoin mining. hopefully not followed by other countries. and not really happening.
Sad

mattbellme

member

Activity: 135

Merit: 10

China will do what they will do, bitcoin will still be here whether China allows it or not

Mining companies will just move if they ban mining

jmvzlfyg

newbie

Activity: 174

Merit: 0

Perhaps it's just some tightening up, and there's no need to worry too much that China's mining business has been stable.

jmvzlfyg

newbie

Activity: 174

Merit: 0

Perhaps it's just some tightening up, and there's no need to worry too much that China's mining business has been stable.

audrey.audrey11

newbie

Activity: 89

Merit: 0

we can not trust China, they may change their opinion at any time. Just listen

millgates

sr. member

Activity: 714

Merit: 250

Why many bad news come out when bitcoin price begin to rise? Omg. Actually minning bitcoin will give more wealth to Chinese people. No negative thing in bitcoin mining, bitcoin minner doesn't take wealth inside country to outside country even its add more wealth inside country.

thepers0n

newbie

Activity: 224

Merit: 0

I think Chinese government shouldn't ban it because around 80% of bitcoins (BTC) being mined and traded in China, the Chinese government will have a major influence over the market.

Nick Abimanyu

member

Activity: 406

Merit: 19

Not surprisingly 'with this one country, the prerogative of its government is often contrary to the general rules of other countries, China always does not want other currencies or any products coming from other countries to progress, both in the real world and the virtual world including cryptomarket, for example China will never buy/use products from other countries, no matter how China should be able to sell its products to other countries, that's the way of their trade politics so this country can become the king of the world market as it's today. I think the principle of their government more stubborn wants his own victory.

yugyug

sr. member

Activity: 616

Merit: 256

In my humble opinion i think Chinese government are planning to shutdown bitcoin mining operation in their location is mainly because of the environmental concern as we all know that bitcoin mining consumes a lot of electrical power and that's why on their latest ranking Bitcoin was out on the top 15 cryptocuency list, reference source from ccn.com https://www.ccn.com/eos-leads-chinas-blockchain-rankings-again-bitcoin-still-out-of-top-15/ as they prioritize on energy efficient blockchain like EOS.

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