If China Ban , Bitcoin Hashrate Will Drop ? - page 2.

Flame.Exchange

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Quote from: Haunebu on April 14, 2019, 07:44:09 AM

You are worrying too much buddy. If China does go through with the ban, the mining companies like Bitmain etc won't just shut shop, but would relocate to other countries where they can continue their operations smoothly in a legal manner.

I don't know where they will think to relocate too, they have pretty cheap electricity prices..
Reference:

harbin55

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Eventhough China are one of the largest minners here in this world; they can still replace by someone else if the china will banned bitcoin. Therefore the hashrate will drop but in just a short period of time. Once there is a new country who continues the job which left by china it will rise once again; so you should not to worry about.

muslol67

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Quote from: davidaw6812 on April 14, 2019, 07:05:40 AM

Hello Everyone,

I have a quastion , if china ban miner , bitcoin hashrate will drop back to 2013?

Bitcoin difficult so high because for china miner around 70%

Thanks~

There are rumors about China and mining ban for years. But there has been no improvement in this issue. If it happens, there will be problems. But remember, Bitcoin is a decentralized money. In other words, market equilibrium will be achieved.

morrisgonzalez

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It's difficult to say correctly anything about that. There is two thing will happen if China ban this then others companies or other countries find the another way to recover this. And another thing is if China ban this then maybe bitcoin hashrate will drop because China has capture huge market of this so it's maybe happen.

Wendigo

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Quote from: BADecker on April 14, 2019, 06:37:29 PM

If China seriously bans Bitcoin, maybe the Chinese people will seriously ban the Chinese government. Then Bitcoin will go up like crazy. Hodl is a good idea.

Cool

I don't think Chinese commoners have a say in what the Party does over there. I bet normal fork will get their ass thrown in jail faster than the speed of light if they try to as much defy the government.

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Quote from: shesheboy on April 22, 2019, 02:25:04 AM

Quote from: bitzizzix on April 22, 2019, 02:07:37 AM

but if bitcoin mining is prohibited and becomes illegal in my opinion there will still be people who use it even though they have to hide

That is possible but that is risky . if ever they caught , they will be fine and worst they will be jailed for a long time .

for some reason you are just making the assumption that China has banned bitcoin mining and then based on that you make another assumption that there is this law that jails people who break that ban!
there was no ban and there is no such law. and people are continuing to mine in China as before. all of this was a drama started a couple of days ago due to the bitcoin price rise and the fact that some people weren't done accumulating and wanted the price to come back down. they failed.

DBronze98

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Quote from: Haunebu on April 14, 2019, 07:44:09 AM

You are worrying too much buddy. If China does go through with the ban, the mining companies like Bitmain etc won't just shut shop, but would relocate to other countries where they can continue their operations smoothly in a legal manner.

At present, large companies in China had transferred to countries with post-cold conditions along with lower electricity prices when China began drafting the ban. If China issues ban, that will not affect the Hashrate Bitcoin because all the big companies in this country like Bitman have plans to deal with this when this happens.

PlusOne88

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There will always be solutions to these things. Worry doesn't make us good in dealing with bitcoin. It will only spread FUD and will makes us poor in understanding things the way they could probably work. Should they ban bitcoin then there are so many other miners that could do the same work in some other countries. Who knows even cellphones can be used to mine bitcoin in the future without problems.

shesheboy

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Quote from: bitzizzix on April 22, 2019, 02:07:37 AM

if indeed that happens, it will likely affect the bitcoin movement a little because China is a big country and there are many bitcoin users or miners

Only little ? But you said china is a big country and that is fact . that also means that the banning will have a huge impact on the price of bitcoin . i dont know the exact date of the banning but i think the banning did not yet happened because the price of bitcoin is still the same as before . when bitcoin goes down below 5k to 4k usd then that is an indication that the banning had started .

Quote from: bitzizzix on April 22, 2019, 02:07:37 AM

and besides that China has mastered the technology and of course there are many great people there who will still use me.

Mastered the technology of mining ? mining isnt hard at all and everyone can master it as long as you have the right tools and right environment .

Quote from: bitzizzix on April 22, 2019, 02:07:37 AM

but if bitcoin mining is prohibited and becomes illegal in my opinion there will still be people who use it even though they have to hide

That is possible but that is risky . if ever they caught , they will be fine and worst they will be jailed for a long time .

bitzizzix

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if indeed that happens, it will likely affect the bitcoin movement a little, because China is a big country and there are many bitcoin users or miners and besides that China has mastered the technology and of course there are many great people there who will still use me.
but if bitcoin mining is prohibited and becomes illegal in my opinion there will still be people who use it even though they have to hide, because they know that bitcoin is profitable and in any way they will still mine and use it because they also want freedom that can produce.

green547

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Quote from: MonsterV on April 22, 2019, 12:33:13 AM

Quote from: davidaw6812 on April 14, 2019, 07:05:40 AM

Hello Everyone,

I have a quastion , if china ban miner , bitcoin hashrate will drop back to 2013?

Bitcoin difficult so high because for china miner around 70%

Thanks~

China has actually banned bitcoin miners since 2018, so the effect will not be large now that is only the issue raised again this year to make FUD.
You also don't need to worry that the mining company will be closed because China has banned mining, because many Chinese people have chosen to leave the country to get freedom in mining bitcoin.

Thats not true, they are just doing backroom deals with their buddies and a lot of bribe money is being thrown around. The mining industry in China is full of corruption and they are doing everything they can do squash the competition.

BlackPanda

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China is a country that is so big, with a very large population that makes China has a very big impact on the development of digital currencies.
Whatever happens in China will make a real change in the development of cryptocurrencies.
The number of users will determine how the development of Bitcoin changes.
So I hope that nothing bad happens to China, let alone a ban on the use of Bitcoin.

MonsterV

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Quote from: davidaw6812 on April 14, 2019, 07:05:40 AM

Hello Everyone,

I have a quastion , if china ban miner , bitcoin hashrate will drop back to 2013?

Bitcoin difficult so high because for china miner around 70%

Thanks~

China has actually banned bitcoin miners since 2018, so the effect will not be large now that is only the issue raised again this year to make FUD.
You also don't need to worry that the mining company will be closed because China has banned mining, because many Chinese people have chosen to leave the country to get freedom in mining bitcoin.

jakezyrus

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Afaik hashrates only depend on your device and depends on the setting of your mining platform but if china bans bitcoin , bitcoin mining will be more easy because we know that china is a huge country which means more miners are expected to leave . this also allows other mining brand to be discovered . this was a win win situation for both miners and mining hardware owners ( store owner )

n0ne

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As China holds the majority of the miners, ban from them will surely cause a drastic drop in the hash rate. If such scenario prevails for a short there will be increased number of transactions getting stuck on the network for certain time period until some other country take the things left behind. From my view mining equipments price will fall off which can be used by large scale investors, also this can be kind of such market manipulation to down the price of mining equipments.

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Quote from: seoincorporation on April 14, 2019, 07:48:18 PM

I'm not sure, because if China bans mining that doesn't mean they will not do it anymore. It only means the activity will be illegal but for sure some farms will continue running on a hidden schema. And yes, the hash rate will drop if that happens until China sends those miners to another country.

Though probably possible, I really doubt big farms would do it though, unless they're going use natural energy, rather than energy from the electricity companies; because I assume it would be pretty difficult to stay hidden from electricity companies due to the huge amounts of energy needed to run the bigger farms. I'm leaning more on them moving to other nearby countries.

muratsink

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I remember, in 2017, China already has a firm decision for the crypto world, even China also banned ICO. The government also wants to stop crypto trading in China, block access to every website, close mobile applications that provide cryptocurrency trading services in China.

but, on the other side, China's enthusiasm for BTC is very high, China has the potential to threaten security, stability, internet infrastructure, and the volatility of crypto trades.

China is considered as a country that has an important role for the life of Bitcoin, because China dominates mining and China also dominates ASIC vendors, China also controls mining hashrate, so it will affect the bitcoin protocol.

all hashrate the Bitcoin network, 80% comes from 6 large mining pools, and 5 mining pools sourced from china mining.

I think, regulation or rule of government is a solution to limit every movement of miners. so the stability of Bitcoin will be balanced.

pooya87

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Quote from: franky1 on April 14, 2019, 06:41:48 PM

anyone who in 2019 continues to scream "china own/control mining" are the inept squad that love to sound like the fox news crowd of racists that dont get true factual information regularly

you are overthinking it.
this is the old FUD method that people have been using ever since 2013 and probably even before but i could only trace it back that much ever since they banned banks from investing in bitcoin people have been using the term "China banned bitcoin" to cause price drops so they could buy cheaper coins. the context changes every now and then and sometimes some other countries like India replace it but it is always the same bullshit Cheesy

seoincorporation

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I'm not sure, because if China bans mining that doesn't mean they will not do it anymore. It only means the activity will be illegal but for sure some farms will continue running on a hidden schema. And yes, the hash rate will drop if that happens until China sends those miners to another country.

lyks15

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Nothing to worry dude. Bitcoin is not only circulating in one country. And if China did not want a mining activity like bitmain do. It can relocate it in the other country. And don't also worry because there is a huge bitcoin users around the world not only in China. So the bitcoin must go on. Just give your full trust.

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