Topic: China refuses mining? - page 4. (Read 13153 times)
one of the biggest bitcoin miners is in China, thus assuming electricity resources in China are very large and expensive and if China stops it, it will also affect the price and development of bitcoin, but considering many cryptocurrency projects at this time to make alternative energy namely environmentally friendly sources of energy / green energy to overcome the electricity problem maybe if this is applied China will cancel its intention to leave the cryptocurrency currency in 2021
This can affect at start bitcoin in some way but i think if new people will start mining and rewards of mining will be shared to other old miners from another countries then all can go normal as before, but if the price will be over 50,000$ or close to it i don't think China will ban mining.
I think that China plays a big role in mining and indeed in cryptocurrency. Because I think that if China refuses all the same, it will very badly affect the market.
I Think We should not worry about to be refused mining by china. whenever there are more intresting project runnig by crypto . so does not matter their i think so.
China intends to abandon mining cryptocurrency by 2021.How do You think this news will affect the entire industry and what alternative countries can replace this niche?What is the cost of 1 kilowatt of electricity in your country?
https://uk.reuters.com/article/us-china-cryptocurrency/china-wants-to-ban-bitcoin-mining-traders-say-move-not-a-surprise-idUKKCN1RL0C4
China has enacted prohibitions and raised electricity prices in this country high to limit Bitcoin mining in this country. As much of the information reported from web blogs shows that Bitman, China's giant has moved its mining site to another country with a colder climate and has lower electricity prices. I believe this is not too important Bitcoin mining. https://uk.reuters.com/article/us-china-cryptocurrency/china-wants-to-ban-bitcoin-mining-traders-say-move-not-a-surprise-idUKKCN1RL0C4
they just want to ban it in future, but that could be absolutely temporary decision.
True. Also the miners will have a pretty long amount of time to move their mining equipment to another part and avoid problems or issues there. At least the big ones.
I don't think that it will be the biggest issue because of that reason and also because other miners will see an opportunity there and the rate will still be somewhat alike in the growth over time. I could be wrong, time will tell.
This is unlikely to happen, mining brings ina lot of revenue for China, why would they shut down a profit generating business only to lose it to another country. Makes no sense and this is just more fud spread by bad news sources.
It wont have any affect on mining... the big mining farms already moved to other countries. If hashrate drops, the difficulty change. So i don't see any bad affect at all. There are many mining friendly countries on the globe, so dont worry about china.
Regarding your last question: Private mining in my country isn't worth it. We are paying in average 0,32 € per kWh.
A more alternative place aside from China but i think it can still affect the market if they fully implement this ban. In European countries a lot of miners are quiet suffering from a big cost of mining, I hope they will see a more affordable electricity because in my place, it's also not a good to do mining aside from a higher cost there's always a power outage that can interrupt your mining activities. Regarding your last question: Private mining in my country isn't worth it. We are paying in average 0,32 € per kWh.
I don't think that this has an effect over the whole transaction network of bitcoin
For now, but we can't say this in the future. We need a more friendly country to do mining without any hassle.
I think it does not affect much to the development of Cryptocurrency industry. In fact, bitcoin is still alive despite the baned from China. In the near future, China will also break the bitcoin embargo, they will recognize its importance. The benefits that blockchain and Bitcoin bring are undeniable.
I don't think that this has an effect over the whole transaction network of bitcoin
China intends to abandon mining cryptocurrency by 2021.How do You think this news will affect the entire industry and what alternative countries can replace this niche?What is the cost of 1 kilowatt of electricity in your country?
https://uk.reuters.com/article/us-china-cryptocurrency/china-wants-to-ban-bitcoin-mining-traders-say-move-not-a-surprise-idUKKCN1RL0C4
China has indeed carried out a mining system that is so large, in that country the mining industry has become a common thing and even large companies spend one warehouse full of mining tools. In energy treatment, in China the electricity needs are so large, there are so many mining tools that are used and that is what causes the spread of Bitcoin so very large in China and is very different compared to other countries.https://uk.reuters.com/article/us-china-cryptocurrency/china-wants-to-ban-bitcoin-mining-traders-say-move-not-a-surprise-idUKKCN1RL0C4
In my opinion there needs to be a regulation that regulates the circulation and use of mining equipment in China, it is far wiser than having to ban mining activities completely.
I read this news sometime ago on Twitter and I was shocked because China is one of the leading countries in Cryptocurrencies and for that matter when BTC mining is stopped in China I think it will affect the overall market cap of BTC and also people will start to loose interest in cryptocurrencies.
This news is confused someone telling news is not really right.
But if it right,I think its can't any effect of crypto market.Because we can see example China mostly people don't use Facebook but its don't effect on Facebook.So its will be same its don't effect this bitcoin.
But if it right,I think its can't any effect of crypto market.Because we can see example China mostly people don't use Facebook but its don't effect on Facebook.So its will be same its don't effect this bitcoin.
I don't think that this has an effect over the whole transaction network of bitcoin. There are still a lot of miners outside China and Chinese miners are not that a lot compared to other countries.
Looking back a couple of years China also ban bitcoin mining as well as some part of Asia but it didn't have any effect on the transaction of bitcoin.
Looking back a couple of years China also ban bitcoin mining as well as some part of Asia but it didn't have any effect on the transaction of bitcoin.
If you happen to know mining difficulty, a sudden shutting down of a huge hash will definitely affect the entire industry, though it will be temporary but still, it create a huge buzz, possibly a FUD and it will definitely affect confirmation and the same issue like unverified tx for a long time will happen again.
The involvement of China in cryptocurreny in a negative way seems very timely, are they intend to push down the price of BTC? Now that it is in recovery? Someone say, Bitcoin rising, with china releasing negative news that involves BTC = official Bitcoin Bull rally which make sense.
China intends to abandon mining cryptocurrency by 2021.How do You think this news will affect the entire industry and what alternative countries can replace this niche?What is the cost of 1 kilowatt of electricity in your country?
https://uk.reuters.com/article/us-china-cryptocurrency/china-wants-to-ban-bitcoin-mining-traders-say-move-not-a-surprise-idUKKCN1RL0C4
https://uk.reuters.com/article/us-china-cryptocurrency/china-wants-to-ban-bitcoin-mining-traders-say-move-not-a-surprise-idUKKCN1RL0C4
I was surprised by China, because it was always a trending topic for crypto. I think China will gradually change its policies in the crypto industry and bitcoin mining. of course this will be a consideration of China in this industry, because now China really does not have a big influence after banning bitcoin and crypto
All these are FUDS that are being spread so that bitcoin holders can sell their bitcoins at this cheap price. How many times have we not heard that China has placed a ban on cryptocurrencies yet they are still mining cryptocurrencies. I am sure this news is just to put some false information out there so that most people can sell cheap whiles bull run may just be few months away.
Before we know ending of this year we would just hear another release by China saying that they are no longer going to ban it just like what Facebook did. Now Facebook is planning to launch their own cryptocurrency. I am sure China would also make such news soon
Before we know ending of this year we would just hear another release by China saying that they are no longer going to ban it just like what Facebook did. Now Facebook is planning to launch their own cryptocurrency. I am sure China would also make such news soon
China declining bitcoin mining i think will not really affect that much on the bitcoin industry,maybe a little difference from what bitcoin now but not that much since there is still alot of miners out there,also chinese businessmens are money minded they can easily transfer mining gears to other country and start again
China intends to abandon mining cryptocurrency by 2021.How do You think this news will affect the entire industry and what alternative countries can replace this niche?What is the cost of 1 kilowatt of electricity in your country?
https://uk.reuters.com/article/us-china-cryptocurrency/china-wants-to-ban-bitcoin-mining-traders-say-move-not-a-surprise-idUKKCN1RL0C4
I believe this gives another opportunity to other countries, this is an opportunity that they left behind, and some group or institution will be interested to do this. The mining industry will improve as it is needed for the crypto to stay and accommodate it's adoption. https://uk.reuters.com/article/us-china-cryptocurrency/china-wants-to-ban-bitcoin-mining-traders-say-move-not-a-surprise-idUKKCN1RL0C4
In technical aspects I can't give my opinion, but in general, this is what I think.
China is one of the countries with the highest number of bitcoin mining and at that if China abandoned mining it will have great negative influence on the bitcoin mining. The only possible solution is for miner's in China to relocate and look for other favorable location to continue operations.
It wont have any affect on mining... the big mining farms already moved to other countries. If hashrate drops, the difficulty change. So i don't see any bad affect at all. There are many mining friendly countries on the globe, so dont worry about china.
Regarding your last question: Private mining in my country isn't worth it. We are paying in average 0,32 € per kWh.
Regarding your last question: Private mining in my country isn't worth it. We are paying in average 0,32 € per kWh.
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