Topic: No, China is not planning on unbanning bitcoin mining (Read 389 times)
What China wants is their domestic financial stability. Their government controls everything. Finance is that their government will not allow any non-state financial products to affect their financial markets. They must absolutely control power and finance. They have a sense of security.
...there are still lots of other countries particulary in Asia who supports bitcoin like Russia.
Russia supports Bitcoin? I really don't know why some people have the idea that Russia is a friendly country towards Bitcoin, especially if we know how friendly they are to fundamental human freedoms, such as the Internet.
The process, underway since 2019, represents the start of perhaps the world’s most ambitious digital censorship effort outside of China. Under President Vladimir V Putin, who once called the internet a “CIA project” and views the web as a threat to his power, the Russian government is attempting to bring the country’s internet to heel.
I don't know if anything has changed in terms of blocking this forum in Russia, but I would really like people to start understanding some things, Russia is not that far from China when it comes to cryptocurrency - let no one be surprised if they start copying the Chinese in their decisions.
if indeed the cancellation of bitcoin carried out by the Chinese state will have a very good impact on bitcoin itself considering that currently bitcoin desperately needs recognition from countries in the world, especially considering some time ago that the Chinese government strictly prohibited the circulation of bitcoin in the country. them, but with the cancellation we really hope that bitcoin will continue to circulate in the country, hopefully this will really happen in the country so that one day the people in that country can also adopt bitcoin widely
Last week we had a topic :
China is thinking about unbanning bitcoin mining after price rise
Do we need them? No! Can bitcoin survive without China? Of course, it does it right now and it's doing great!
What we definitely need to do is actually read more than the title when posting something around here!
Indeed, ofcourse bitcoin can survive without the support of the 2nd biggest economy in this planet namely China, there are still lots of other countries particulary in Asia who supports bitcoin like Russia. China's banning of bitcoin or other related transactions isn't going to have a negative effects in bitcoin because it is not entirely dependent in China or any country, it is decentralized that's why China has to drop its hope to control bitcoin or other cryptos. So let's accept the fact that they will reconsider their steps because it is already a closed case. China is thinking about unbanning bitcoin mining after price rise
Do we need them? No! Can bitcoin survive without China? Of course, it does it right now and it's doing great!
What we definitely need to do is actually read more than the title when posting something around here!
China is the current strongest economy in the world, China can do whatever they want, even China has closed bitcoin mining, which makes their own people feel disappointed with the policies taken by their own government, but what can they do in control, we can only follow the direction of the Chinese government..
China recently announced the construction of 150 new Nuclear Power Plants. It's pretty clear that they're going to face a big energy problem in the next decade. Not just them, it seems that the world will face the growing demand for electricity.
150 reactors, not powerplants. France has 19 stations with 56 reactors, there is a significant difference in those numbers.
And they are not just building nuclear reactors they are also building new coal-powered ones, they know that only with solar and wind you risk blackouts for days and be at the mercy of nature, for a country that needs the manufacturing sector to run smoothly the option is not with windmills, coal and nuclear are cheaper and far more reliable than any renewables. Not even hydropower can rival those , a few months of drought and the turbines will be at a standstill.
On the other side China is always manipulating the market with these news and try to create FUD and make profits out of it
Yeah right, do you have any proof of "China" whatever China means in this context making profits after spreading "FUD" ?
I agree with you, we as Bitcoin lovers should read the title and content first and understand it before posting here.
Back to China which banned Bitcoin mining, we don't need China to be the biggest Bitcoin mining country but it's not welcome there, we can survive without China because now the US is the biggest Bitcoin mining country and their government welcomes Bitcoin.
Back to China which banned Bitcoin mining, we don't need China to be the biggest Bitcoin mining country but it's not welcome there, we can survive without China because now the US is the biggest Bitcoin mining country and their government welcomes Bitcoin.
I once saw a video when a city in China was shrouded in thick smoke from industry, maybe they really have a bad environment, and they decided to close mining once and for all, we don't understand it, but they probably know better.The hashrate is gradually recovering and miners will find another outlet in a more loyal country to mining.
China recently announced the construction of 150 new Nuclear Power Plants. It's pretty clear that they're going to face a big energy problem in the next decade. Not just them, it seems that the world will face the growing demand for electricity.
Cars will be powered by electricity. So it cannot be expensive or scarce. It is essential that everyone involved with Bitcoin starts to study ways to transform what is currently considered a villain into a transformer and financier of new energy matrices.
https://www.bloomberg.com/news/features/2021-11-02/china-climate-goals-hinge-on-440-billion-nuclear-power-plan-to-rival-u-s
Cars will be powered by electricity. So it cannot be expensive or scarce. It is essential that everyone involved with Bitcoin starts to study ways to transform what is currently considered a villain into a transformer and financier of new energy matrices.
https://www.bloomberg.com/news/features/2021-11-02/china-climate-goals-hinge-on-440-billion-nuclear-power-plan-to-rival-u-s
They wants to play with miners again and that's for sure because ever since before to be honest the only news that poping up from them is BANNING and mostly criticism which not good, indeed they're always the main reason why crypto experience a massive correction..and you know when they kick out mining within the country, we see that the market is very fine even though sometimes there are bad news but it didn't getting worse unlike before.. So what's now if they want to take it back? I hope you're correct @Op so that there's no big problem on the crypto space again, i mean let them enjoy what digital currency china have now. 
The cryptomining ban was not about playing with miners or stopping cryptomining. It is about a country’s fight for carbon neutrality and doing everything that they can to win the fight. If you were a policy maker in a country that is going through an energy shortage, which uses of electricity would you consider first as not an essential to save the country’s manufacturing sector?
The reason is people reaching on conclusions before making any research or detailed analysis about what they are going to post and China is one of them like whenever there is news about btc and China there are bundle of threads piled up in this section and most of them would contain misleading information and you will find someone pointing out the correct information in the thread if they have done research about the topic but still there will be similar threads being made on daily basis.On the other side China is always manipulating the market with these news and try to create FUD and make profits out of it but we need to be wise enough to make comparison between reality and these fake topics.China is no more big concern.
I agree with you in this case not only talking about China but any other government in the world would not change the mind so much fast about anything specially about when they strongly banned many times bitcoin I was thinking the same way if you want to know more about what China is doing you better read about economic communism that's what China is doing in many other different fields, even if they change their mind to unban bitcoin I don't think if they do that any time soon.
As for the collapsing economy where? Unless it's from dailymail there is no collapsing anywhere,
Well I don't read dailymail. There are a couple of factories and suppliers that shut down. There are multiple industries that have warned that they cannot remain open for much longer specially if gas prices go any higher. The food prices are soaring, and a lot more. These are all signs of collapsing (not collapsed) economy.Quote
and the energy crisis is not limited to the UK alone, China is rationalizing power and it had nothing to do with Brexit, food prices have gone through the roof from India to Nigeria and it wasn't caused by the troubles in the UK. Besides the UK imports only 11% of its oil needs, one of the lowest percentages in the EU, they are better prepared for an energy crisis than the rest of Europe.
True, I never said the problems are only in UK.As for food price elsewhere it is because of inflation that happens everywhere specially with COVID and the stupid money printing policies that all governments seem to have. But in UK all of it is being intensified by this recent energy crisis.
They wants to play with miners again and that's for sure because ever since before to be honest the only news that poping up from them is BANNING and mostly criticism which not good, indeed they're always the main reason why crypto experience a massive correction..and you know when they kick out mining within the country, we see that the market is very fine even though sometimes there are bad news but it didn't getting worse unlike before.. So what's now if they want to take it back? I hope you're correct @Op so that there's no big problem on the crypto space again, i mean let them enjoy what digital currency china have now.
Actually, it does happen around here, in like half of Europe, the northwestern part mostly.
Does it really? Isn't UK in N.W. Europe? Didn't they screw their country with the Brexit crap? Isn't the economy collapsing?I haven't heard anyone apologizing yet. Maybe in winter as the energy crisis worsened and food prices went to the moon they are going to apologize.
The one that has triggered the referendum is gone, as I mentioned, the moment the result was in he handed his resignation, have you heard anything about Cameron in the last 5 years? As for the screw-up, what was there left to do, the people have voted for Brexit, that's what they want if they wouldn't have gone with it everyone would have accused them of not listening to the poeple and being dictators.
What's to apologize? The poeple voted, that's it!
As for the collapsing economy where? Unless it's from dailymail there is no collapsing anywhere, and the energy crisis is not limited to the UK alone, China is rationalizing power and it had nothing to do with Brexit, food prices have gone through the roof from India to Nigeria and it wasn't caused by the troubles in the UK. Besides the UK imports only 11% of its oil needs, one of the lowest percentages in the EU, they are better prepared for an energy crisis than the rest of Europe.
Actually, it does happen around here, in like half of Europe, the northwestern part mostly.
Does it really? Isn't UK in N.W. Europe? Didn't they screw their country with the Brexit crap? Isn't the economy collapsing?I haven't heard anyone apologizing yet. Maybe in winter as the energy crisis worsened and food prices went to the moon they are going to apologize.
@BlackHatCoiner. Beijing considers mining for bitcoin and altcoins a waste of electricity. The policy makers will never unban this. Also, the energy shortages caused by the Chinese goverment’s fight for carbon neutrality might extend for years. They will very much prioritize their energy usage for their manufacturing sector.
Yeah! Now haters can stop bringing the “China owns Bitcoin” as an argument.
Here's a question: Can't they continue mining with renewable sources of energy? They do face some issues with the minimization of coal, but can't some continue having their income this way? I mean, why banning it if it doesn't damage you with any way? You can also benefit yourself this way by taxing the ones who do. Kill two birds with one stone.
Here's a question: Can't they continue mining with renewable sources of energy? They do face some issues with the minimization of coal, but can't some continue having their income this way? I mean, why banning it if it doesn't damage you with any way? You can also benefit yourself this way by taxing the ones who do. Kill two birds with one stone.
The obsession with China is something that will not disappear so soon, because a lot of people still think that China is in some way necessary for Bitcoin to succeed - of course because it is the most populous country in the world and because they are already (or will become) the first world economy. What they all completely ignore is their political system, and only those who have not experienced the evil of communism still have some hope that China will accept Bitcoin in one way or another.
The best thing that happened was that Bitcoin was banned in that country, because China has actually been one massive weight around Bitcoin all this time - we can finally move forward without listening to what comes next from that country.
The best thing that happened was that Bitcoin was banned in that country, because China has actually been one massive weight around Bitcoin all this time - we can finally move forward without listening to what comes next from that country.
I like to underline your sentence, I totally agree with the title of China politics in running the world financial and economic system. We saw how China easily toyed with the economic cycle by launching news, then had time to destroy the price of Bitcoin. After a while, then another statement appeared about withdrawing the Bitcoin mining block on the pretext that it would support it again.
We are indirectly following China political game. Even the world is also carried away by its political playing. That way China is confident, already feels that the world economy depends on its statements.
Yes, we have understand that China is already a closed chapter though it does not mean that there is zero cryptocurrency trading within China as there are those who are able to evade the government using new stealth technologies. BTC mining is something that is hard to hide and it is because of the unusual spike power consumption involved. Bitcoin is not part of China's overall vision and plan for its economy and we should leave it at that. Now, Bitcoin can survive much better without China, just like big and successful companies namely Google, Facebook and many others.
Jump to: