Could the Chinese Govt take over the mining of BTC? - page 4.

bocyaj

sr. member

Activity: 1313

Merit: 302

Quote from: jamesashmore1964 on June 14, 2018, 05:13:18 AM

This news is slowly coming out but over half the Bitcoin miners are Chinese entities!
What would happen if the Chinese Govt took the mining over from the entities: It is a scary possibility and i was made aware of it on a you tube channel that has 200,000 subscribers!

I don't think it will happen.Previously Chinese government announced bitcoin and crypto currency trading is illegal one.But they don't take any necessary step to eliminate the crypto currency.They asked the people of china to inverse in gold and silver.If they had a plan to get mining,they will done this before.

avikz

legendary

Activity: 3080

Merit: 1500

It is very much possible for a communist government like China. They are infamous for violating human rights. For reference, you can check out the current situation of Uyghurs Muslims in Xinjiang. Every possible human rights are being violated for them by the Chinese Government and they are being denied even the basic requirements of life. So it is very much possible for Chinese government to forcefully take over the mining operations under their own control. Probably this is unimaginable in first world countries, but very much possible in China. If this happens, it would not give us a positive impact on the market.

jamesashmore1964

jr. member

Activity: 336

Merit: 3

This news is slowly coming out but over half the Bitcoin miners are Chinese entities!
What would happen if the Chinese Govt took the mining over from the entities: It is a scary possibility and i was made aware of it on a you tube channel that has 200,000 subscribers!

Topic: Could the Chinese Govt take over the mining of BTC? - page 4. (Read 477 times)