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Topic: Mining plants in China are shutting down. How will this be reflected on Btc - page 4. (Read 638 times)

mk4
legendary
Activity: 2870
Merit: 3873
Paldo.io 🤖
what i can't understand is: why did they decide to close? The accident is clearly an excuse.Is the news that America is banning btc founded?

Fun fact: It's almost guaranteed that the Chinese Communist Party doesn't like Bitcoin in general. I mean, China is all about having a tight sort of deathgrip-like control, ain't it? And Bitcoin is the polar opposite of what they want.
sr. member
Activity: 952
Merit: 250
We are no more children. I believe anyone in this forum are already old enough to understand that every bad news related to Bitcoin in china is only FUD. A drama, a fake news to dump Bitcoin. Remember China plans to create it's own crypto.

If you are a Chinese, just hold your Bitcoin. You don't have to give your Bitcoin private keys to your government.. Wait until the news back to normal.
full member
Activity: 868
Merit: 150
★Bitvest.io★ Play Plinko or Invest!
Don't get me wrong, this news ain't good, but it ain't super bad either. But yet, I could almost guarantee that news sites would spin this around as something super critical. And once again, it would cause bitcoin to drop a certain amount. It's been like this since forever and I don't think it would change any time soon.
Agree, maybe the market will suffer for some time but it's definitely going to be not a thing to worry about for the long-term because the mining can be moved to other places, it's just that it will take a lot of time to move it somewhere since China has a really big mining contribution.
member
Activity: 813
Merit: 65
Re: Mining plants in China are shutting down. How will this be reflected on Btc

Don't get me wrong, this news ain't good, but it ain't super bad either. But yet, I could almost guarantee that news sites would spin this around as something super critical. And once again, it would cause bitcoin to drop a certain amount. It's been like this since forever and I don't think it would change any time soon.
what i can't understand is: why did they decide to close? The accident is clearly an excuse.Is the news that America is banning btc founded?
mk4
legendary
Activity: 2870
Merit: 3873
Paldo.io 🤖
Re: Mining plants in China are shutting down. How will this be reflected on Btc

Don't get me wrong, this news ain't good, but it ain't super bad either. But yet, I could almost guarantee that news sites would spin this around as something super critical. And once again, it would cause bitcoin to drop a certain amount. It's been like this since forever and I don't think it would change any time soon.
member
Activity: 813
Merit: 65
Due to the big blackout in China, the government has decided to ban mining and I have verified that, indeed, many mining facilities are closing. I have seen that there has been a nice cut of hashpower but, I have also found that some hosting centers have closed. This could be good because fewer miners would have more income.
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