as it does not make sense to hear a ban caused by excessive energy use.
maybe this is more than just a business game that may benefit some parties only,
Topic: Why Beijing forbid digging Bitcoin? (Read 142 times)
china will do nothing with bitcoin.do not worry guys.its just FUD.bitcoin is king
you mean mining?
In China, cheap electricity. Many farms Mining are difficult to control. What can not be taken under the control of the state is usually prohibited from time to time
Electricity needed in mining is a bigger issue and need to be addressed, but this is not the reason for this crackdown on crypto in China.
One of the reason that can be considered is, Chinese government is very strict about it's control over it's citizen and their rights and crypto is not a fit in this scenario.
Decentralised nature of cryptocurrency is also one of the reason, as government has no control over it.
One of the reason that can be considered is, Chinese government is very strict about it's control over it's citizen and their rights and crypto is not a fit in this scenario.
Decentralised nature of cryptocurrency is also one of the reason, as government has no control over it.
Agreed.
It seems they are not banning for today. But in the very near future, they will ban the mining and their reason will be the energy consumption that is used in mining is too high. That way the government will retake the control over citizens money.
Electricity needed in mining is a bigger issue and need to be addressed, but this is not the reason for this crackdown on crypto in China.
One of the reason that can be considered is, Chinese government is very strict about it's control over it's citizen and their rights and crypto is not a fit in this scenario.
Decentralised nature of cryptocurrency is also one of the reason, as government has no control over it.
One of the reason that can be considered is, Chinese government is very strict about it's control over it's citizen and their rights and crypto is not a fit in this scenario.
Decentralised nature of cryptocurrency is also one of the reason, as government has no control over it.
Mining bitcoin requires excessive amount of energy which also adds value to the coin because if it will cost high to mine nobody will sell it for cheaper price.
Some countries might ban crypto mining but there are still many countries where electricity is cheap and mining is not banned. Many other industries are also using excessive amount of energy but they are not banned because they are paying high tax to government.
They have not banned bitcoin trading/mining because of their concerns over energy consumption, they just want to suck more tax from those operation.
Some countries might ban crypto mining but there are still many countries where electricity is cheap and mining is not banned. Many other industries are also using excessive amount of energy but they are not banned because they are paying high tax to government.
They have not banned bitcoin trading/mining because of their concerns over energy consumption, they just want to suck more tax from those operation.
The Chinese government is conservative, they shouldn't ban on currency trading, the currency is now global, if only China is a country banned, then not, China will be far behind other countries in this respect
china ban exchange and try to make end of mining they try to make bitcoin weak.
they will start them own tokens after that.
believe me, all countries will start printing them crypto currency with less than 4 years and they will ban bitcoin.
coutries have bad time and they want to start earning from it.
they will start them own tokens after that.
believe me, all countries will start printing them crypto currency with less than 4 years and they will ban bitcoin.
coutries have bad time and they want to start earning from it.
I don't know where you got the message, I asked my Chinese friend, he is now a day to dig the currency, he said he had not received any news about forbidden mining, so don't worry about it
The energy used by Bitcoin machines last year was higher than the electricity consumed by nearly 160 countries. As a result, China has banned the exploitation of Bitcoin because of concerns over excessive energy consumption and the financial risks that digital money brings.
Jump to: