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Title: AGAIN: China says it wants to eliminate bitcoin mining Post by: AGD on April 09, 2019, 06:33:14 AM So China is playing the environment card now. Didn't they think about changing to renewables? Sure they didn't.
Possible that Bitcoin is a problem for the Yuan? Just asking ... ::) https://www.reuters.com/article/us-china-cryptocurrency/china-says-it-wants-to-eliminate-bitcoin-mining-idUSKCN1RL0C4 Quote SHANGHAI (Reuters) - China’s state planner wants to ban bitcoin mining, according to a draft list of industrial activities the agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector. A small toy figure is seen on representations of the Bitcoin virtual currency in this illustration picture, December 26, 2017. REUTERS/Dado Ruvic/Illustration China is the world’s largest market for computer hardware designed to mine bitcoin and other cryptocurrencies, even though such activities previously fell under a regulatory grey area. The National Development and Reform Commission (NDRC) said on Monday it was seeking public opinions on a revised list of industries it wants to encourage, restrict or eliminate. The list was first published in 2011. The draft for a revised list added cryptocurrency mining, including that of bitcoin, to over 450 activities the NDRC said should be phased out as they did not adhere to relevant laws and regulations, were unsafe, wasted resources or polluted the environment. It did not stipulate a target date or plan for how to eliminate bitcoin mining, meaning that such activities should be phased out immediately, the document said. The public has until May 7 to comment on the draft. State-owned newspaper Securities Times said on Tuesday that the draft list “distinctly reflects the attitude of the country’s industrial policy” towards the cryptocurrency industry. Last week, the price of bitcoin soared nearly 20 percent in its best day since the height of the 2017 bubble, and breaking $5,000 for the first time since mid-November, though analysts and traders admitted that they were puzzled by the surge. On Tuesday, bitcoin was trading at $5,190. The cryptocurrency sector has been under heavy scrutiny in China since 2017, when regulators started to ban initial coin offerings and shut local cryptocurrency trading exchanges. China also began to limit cryptocurrency mining, forcing many firms - among them some of the world’s largest - to find bases elsewhere. Chinese companies are also among the biggest manufacturers of bitcoin mining gear, and last year three filed for initial public offerings in Hong Kong, looking to raise billions of dollars. However, the two largest, Bitmain Technologies, the world’s largest manufacturer of bitcoin mining gear, and Canaan Inc, have since let their applications lapse. People familiar with the deals said that Hong Kong regulators had many questions about the companies’ business models and prospects. According to Canaan’s IPO prospectus filed last year, sales of blockchain hardware primarily for crypto currency mining in China were worth 8.7 billion yuan ($1.30 billion) in 2017, 45 percent of global sales by value. The prospectus forecasts that sales in China would rise to 35.6 billion yuan by 2020. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: noobcakescc on April 09, 2019, 06:58:28 AM Sure, Bitcoin/Crypto is a threat to all government regulated fiat currencies (yuan included), but it's still a very long way from actually threatening their model.
Won't be surprised if China actually pulls the plug on the miners though, since it doesn't bring about any economic benefits for China themselves at all. And they're always striving to control capital outflow and Bitcoin is arguably one of the tools that hampers their efforts. If environment is an issue, I am of the opinion that they probably have bigger problems that they can tackle and it can bring about better benefits for much less effort (factories?) Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Odessit_ya on April 09, 2019, 06:58:37 AM All governments in the world treat negatively cryptocurrencies and Bitcoin as alpha-currency, they are afraid of financial capital leaving the country's budget in the shade.
My opinion is that China is simply taking another step towards Bitcoin legalization, there can be no complete denial ... Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: alisafidel58 on April 09, 2019, 07:17:36 AM I think they are threatened with bitcoin and decided to fight a hole to ban it. There are far more worts industrial factory in China that produce emissions. Bitcoin mining factory doesn't produce emissions but only needs power supply just like any other factory in China.
This is the 2nd time (If my memory serves me right) that they are planning to ban bitcoin miners in China. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: pinoycash on April 09, 2019, 07:25:07 AM Whenever Bitcoin price starting to rally china always release a news statement that they will ban anything about bitcoin or cryptocurrency.
During the 2017 bull how many bans and restriction they announce and it didn't stop the bull from raging the market. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: mk4 on April 09, 2019, 07:29:03 AM "polluted the environment" suuure China. That's definitely the reason.. They sure do care about the environment a lot.
https://i.imgur.com/gaxQbyA.png https://www.forbes.com/sites/hannahleung/2018/04/21/five-asian-countries-dump-more-plastic-than-anyone-else-combined-how-you-can-help/#298cc9521234 Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: figmentofmyass on April 09, 2019, 07:42:09 AM well it's just a draft.....and it looks like the commission is seeking public comment on the list. things like this can change in the blink of an eye in china. the market didn't seem to react negatively to the rumors, which gives some hope that this isn't a serious threat.
weren't there threats about banning mining a couple years back? i'm guessing larger miners have been planning for this contingency for quite a long time now. bitmain and others have been setting up overseas facilities for years. fortunately, the chinese government is less and less relevant as bitcoin achieves increasing global adoption and i doubt they want to hamper the miner production export industry either. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: KennyR on April 09, 2019, 07:47:48 AM Bitcoin is much depended on the mining process which is the backbone for the cryptocurrency network. Already China has revealed similar statements in the past describing its stand on the bitcoin related activities. Now once again some news has come stating China's argument on ban of mining mentioning pollution and the electricity consumption. As of now some form of renewable energy source is the one that can help us with long term mining.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: jakelyson on April 09, 2019, 07:51:41 AM There will always be concern on bitcoin mining because it consumes a lot of power. But China banning them is old news. They have tried this before but I do not think they will ever succeed. And if they do, there are lots of countries with cheaper cost of mining.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Bitinity on April 09, 2019, 07:55:45 AM It is still a plan but of course it may affect bitcoin in general like what happened some years ago when there was a fake news of bitcoin bans that made the bitcoin price dropped.
Hope this news wont give a significant effect of the current market condition as we have just started to boost up after long time of stable price. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Beerwizzard on April 09, 2019, 08:36:02 AM Mining does not have any significant effect on nature as greens always want us to think. Mass production of some plastic shit is dumping more waste than producing electricity for mining. Also, nuclear energy is very cheap and nuclear energy will still be used for at least 50 years or even more. So BTC mining does not cause any significant amount of pollution and at the same time no one is lacking electricity because of it.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: poptok1 on April 09, 2019, 08:54:17 AM Mining does not have any significant effect on nature as greens always want us to think. Mass production of some plastic shit is dumping more waste than producing electricity for mining. Also, nuclear energy is very cheap and nuclear energy will still be used for at least 50 years or even more. So BTC mining does not cause any significant amount of pollution and at the same time no one is lacking electricity because of it. I also think the same way, one more thing I could add is the argument of wasted potential.Imagine that all mining rigs are magically turned off tomorrow. Does the amount of energy produced by the power plants is also reduced adequately? Answer is no. They would still produce at the same level. Nothing would be changed accept maybe the frequency that was reduced from 50hz to 49.8 a year ago. Nuclear power plants are designed with specific power output in mind, they simply can't work correctly when there is no enough consumption. As we are unable to store power, everything of the excess that was produced and unused is truly wasted. So in fact bitcoin mining helps to preserve electricity market and utilize this, what would be otherwise pointless trash. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Haunebu on April 09, 2019, 09:52:00 AM Honestly, why do people care so much about what China feels about the cryptocurrency market? They clearly do not like Bitcoin and the crypto market which is why I do not find this news surprising to say the least.
Values will fluctuate, but the cryptocurrency market is here to stay no matter what any country feels about it. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: creeps on April 09, 2019, 10:39:34 AM Honestly, why do people care so much about what China feels about the cryptocurrency market? They clearly do not like Bitcoin and the crypto market which is why I do not find this news surprising to say the least. China is just another country who hates cryptos not much but I think if its USA, the story will be more different, the price will not just fluctuate but it will collapse I guess. Well, I believe every country right now is important for the adoption, but I know there are some countries will do like this, to eliminate cryptocurrency I just hope that they will not succeed on that and the time will come for them to adopt it. Cryptocurrency is good enough to make people more effective and efficient on using this technology. Values will fluctuate, but the cryptocurrency market is here to stay no matter what any country feels about it. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Ailmand on April 09, 2019, 10:42:01 AM We've been hearing this kind of news from China for a long time. If they wanted to ban it they could've done it a long time ago. They always want to make a scene in crypto sphere by making some such news and after a month or two they will resume with crypto. People are getting sick and tired hearing such news from China, so sick that they start ignoring it.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: dothebeats on April 09, 2019, 10:46:53 AM Playing the environment card from one of the world's largest contributors of carbon emissions, I don't think the word "environmentalists" and "China" go together. Perhaps there are more underlying reasons as to why they want to ban bitcoin mining all in all. If ever this happened, Mongolia is just near China, and Japan, too. There's also Russia which has a somewhat lighter reception and policies regarding bitcoin mining. I guess it's also about time for the miners to disperse off of China and relocate somewhere else.
This is not about China being 'green' all of a sudden. This is surely about something else. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: squatter on April 09, 2019, 10:49:03 AM Honestly, why do people care so much about what China feels about the cryptocurrency market? They clearly do not like Bitcoin and the crypto market which is why I do not find this news surprising to say the least. China is home to the largest mining gear manufacturers, mining pools and purportedly hash rate. Adverse actions from the Chinese government could have significant and sudden effects on the mining sector, which could cause panic in the market. I don't think this would be the end of the world, but I think it would shake up the market quite a bit. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: betty11 on April 09, 2019, 10:53:38 AM This is a pure act of witch hunting by the Chinese government. Bitcoin actually pose no threat to their environment as long as the miners are paying their electricity bills and not stealing power. The truth is that the government is scared because they have no control over the bitcoin and they had expected it will would die before now, yet it keeps rising. Why can't the Chinese government just allow the people to be and decide their freedom themselves? Miners can move to Hong-Kong and nearby countries should this happen, which I believe is not going to happen.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Elkmar on April 09, 2019, 10:54:02 AM They do it every few months, that's not even affecting the price anymore.
Easy to understand why China Policy is not compatible with cryptocurrencies, they should just say it. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: leea-1334 on April 09, 2019, 11:02:57 AM I never agree that China or India, or even any other developing country needs to care SO much about the environment and sacrifice their industrial outputs and productivity,,, remember it is easy for developed nations to say they take care of the planet, but it was them who killed all their wildlife and burned down all their forests and polluted all their rivers,,, then also came to Asia and Africa to take resources.
But at the same time,,, China pretending to care about the environment is too silly! Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Dreamchaser21 on April 09, 2019, 11:16:59 AM They do it every few months, that's not even affecting the price anymore. Yeah, many news like this before and yet the price are not dumping much. China is just one country, we know that we have a lot of investors in different country especially in Europe and of course the USA. They will not succeed to fully eliminate mining on their place because there people knows the opportunity in this market, for sure they will make a new rules in favor to cryptocurrency later on. Easy to understand why China Policy is not compatible with cryptocurrencies, they should just say it. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: jakezyrus on April 09, 2019, 11:26:39 AM They do it every few months, that's not even affecting the price anymore. Yeah, many news like this before and yet the price are not dumping much. China is just one country, we know that we have a lot of investors in different country especially in Europe and of course the USA. They will not succeed to fully eliminate mining on their place because there people knows the opportunity in this market, for sure they will make a new rules in favor to cryptocurrency later on. Easy to understand why China Policy is not compatible with cryptocurrencies, they should just say it. the price did drop a bit before after a a news where china bans ico's but the price did recover after a few weeks . i bet the same thing also happens after this news , only if the rumored news was confirmed to be real and not just a hoax . the good effect is that mining diffculty could also be lessen which is good if ever other miners will quit on mining a coin especially if its in bitcoin . Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: BitHodler on April 09, 2019, 11:41:10 AM But at the same time,,, China pretending to care about the environment is too silly! It is silly, but they know playing Bitcoin's environmental danger card helps them winning some votes because this is something that also plays an important role politically outside China.The good thing however is that more and more people start to ignore everything around Bitcoin and its energy consumption, because they are educated enough to poke through this political circus show. People also know that China's industry is one of the main environmental disasters in the world, so all China does is make itself look like a hypocrite that is only out to block that what it doesn't like. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: darklus123 on April 09, 2019, 12:18:10 PM This can be a great opportunity for small time miners. If the chinese government will continue to shutdown and ban crypto then we are starting to go back with the decentralized mining.
Don't be fooled tho by the chinese FUD, it already happened during 2017 where people is doing panick selling. If this is going to happen again then this price bubble might continue despite the fact that we are going on pump recently so please don't Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: stompix on April 09, 2019, 12:18:32 PM All governments in the world treat negatively cryptocurrencies Really? All of them? well it's just a draft.....and it looks like the commission is seeking public comment on the list. things like this can change in the blink of an eye in china. Public opinion in China, choose option A or B: A) I agree with the goverment b) I agree with the goverment I never agree that China or India, or even any other developing country needs to care SO much about the environment and sacrifice their industrial outputs and productivity,,, remember it is easy for developed nations to say they take care of the planet, but it was them who killed all their wildlife and burned down all their forests and polluted all their rivers,,, then also came to Asia and Africa to take resources. The thing is that developing nations have done this also. Killing wildlife? The moa was exterminated by the Maori in 1300. Who brought the giant panda on the brink of extinction? From my point of view keep industrializing in China and India, turn your counties into a garbage pile of uninhabitable land. One your reach a developed country rank you will realize that nobody wants to live there. Bitcoin actually pose no threat to their environment as long as the miners are paying their electricity bills and not stealing power. Realy, so if I dump car oil in a river is ok, cause I paid for it? Miners can move to Hong-Kong and nearby countries should this happen, which I believe is not going to happen. Hong Kong has no renewables, all the energy is gas and coal and is just as expensive as the US. Now back to China does.. China will do... Who still gives a damn what China does? Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: sopanbmp on April 09, 2019, 12:23:07 PM typical Capitalsm nation, fear with people's power . unfortunately who's live in there
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: pushups44 on April 09, 2019, 12:24:21 PM We shouldn't be shocked of this type of noise within the Chinese government, given that bitcoin is very energy-intensive and at some point the cash-strapped or debt-laden country has to figure out how to best allocate its resources. What I'd like to see globally is greater use by miners of renewable energy.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: traderethereum on April 09, 2019, 01:40:20 PM It doesn't matter if China says they want to eliminate bitcoin mining because bitcoin is not only on China. There are many other people from another country that was still mining bitcoin. That will reduce a big hashrate from China, and I think that is the opportunity for other people to increase their hashrate too and of course the rewards from bitcoin mining. And if China finally shut down the bitcoin mining in that country, then their people will lose the opportunity to gain the benefits from bitcoin and other people will take those benefits.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: PlasmaBit on April 09, 2019, 01:57:54 PM If they're really ban mining, would BTC go up because of supply shortage or go down, because of "regulation" and then go up again when all panicked-citizen sell to people who understand its value?
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: pundit on April 09, 2019, 02:06:12 PM Such statements were also made by China in the past I think if I am right they have banned cryptocurrencies there. Banning BTC mining will not have much affect on crypto market due to its decentralize nature. Not only China but many other developing countries see BTC a threat to their own currency this may be the reason behind such statements. In real scenario BTC is being accepted by mahy big names and many countries like Japan, blockchain technology is being implemented by many big banks so the day is not far behind when China will accept BTC existence.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: aylabadia05 on April 09, 2019, 02:15:08 PM China plans to close the bitcoin-producing mine because it makes electricity consumption more wasteful and includes risky investments. This is in line with the judgment of the authorities that digital currency (cryptocurrency) is not a strategic industry. China itself is not a suitable place to build a digital currency mine.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Baofeng on April 09, 2019, 02:24:28 PM They just contradict themselves again. Why don't they just say "we are shutting bitcoin mining in our country because we hate it", a simply statement like that would be easy to understand. But playing the environment card? They are amongst the the top three greenhouse gas emitters in the planet for God's sake. They should look for their problems and prioritizes it and not blame bitcoin mining.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: tomahawk9 on April 09, 2019, 03:19:09 PM Oh, China, spreading FUD right when the bullish sentiment is surrounding the market...like clockwork ::) They still think they hold the same level of influence over the market lol
They did the same thing in 2017 when the btc price began its upward movement, they started a crackdown on crypto exchanges, the ICO ban...And how did the market react? Price skyrockets a few weeks later. All governments in the world treat negatively cryptocurrencies and Bitcoin You sure about that? Off the top of my head, Switzerland, Japan, South Korea, US, Australia, Singapore, are some crypto friendly countries, so not all govt have a negative view on cryptos.Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Mometaskers on April 09, 2019, 03:24:26 PM Environment my ass. Their smog reaches as far as Korea. It's all about money. They stopped taking in garbage because it's no longer profitable for them. You can bet they would've kept at it if there's money to be made.
Same with this one. They used to talk a lot about money laundering before. The argument about environment is weak since China is trying to posture itself as an innovator in green tech. Bitcoin mining on requirees electricity, shouldn't it be able to continue operation and just use those green energy sources? They just feel threatened of having an alternative currency, and therefore economy. It's still an authoritarian regime after all. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: kryptqnick on April 09, 2019, 03:49:17 PM This sure as hell isn't an ecological concern. China never cared about these things, and is well-known for being one of the most serious polluters in the world. I am pretty sure that the main pollution is not due to crypto mining. I bet China just can't bear the idea of something that cannot be controlled and traced to specific people.
As a well-known human rights abuser, this country is knowing too much about its citizens and wants it to stay this way. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: worle1bm on April 09, 2019, 04:20:44 PM Most of the governments are afraid of bitcoin and other cryptocurrencies as they think they might overtake the financial situation of the country and they will loose to this decentralized virtual currency over which they will have no control.They are not making any regulations or ban regarding other production industries which are creating more pollution and having effect on environment but they are trying to ban the crypto industry which will make them economically strong.They need to think this.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Oceat on April 09, 2019, 04:55:12 PM Whenever Bitcoin price starting to rally china always release a news statement that they will ban anything about bitcoin or cryptocurrency. And again a quick FUD response whenever Bitcoin market starting to grow. Whatever their plan it doesn't seem that the public didn't take the bait, i guess they were used to it ever since from their FUD last year that make Bitcoin suffer more up until this year.During the 2017 bull how many bans and restriction they announce and it didn't stop the bull from raging the market. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Sithara007 on April 09, 2019, 05:43:01 PM Trust me, China is not going to shut down anything that brings in the Forex. Right now the Chinese farms dominate the mining sector (in part due to cheap rig prices and free electricity). The government is going to ignore it, as long as the BTC-CNY exchange remains in low amounts. Apart from the revenues, this sector also employs a good number of people in China.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Adriano2010 on April 09, 2019, 06:16:58 PM Maybe they will close mining, but if the price will be over 50,000$ for 1BTC or more at that time, will they still close the mining? We can't do anything even if they close at that time, more bitcoin to another miners then.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Pab on April 09, 2019, 06:25:21 PM China is banning bitcoin from 2011.I have been reading explanation from person who is familiar with China law.That so much advertised by media China ban is in fact proposal only
First proposal was in 2013 next it was updated in 2016 and next update is now 2019 It looks like it is advertised without explanation to make people worry Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: pixie85 on April 09, 2019, 10:00:23 PM I never agree that China or India, or even any other developing country needs to care SO much about the environment and sacrifice their industrial outputs and productivity,,, remember it is easy for developed nations to say they take care of the planet, but it was them who killed all their wildlife and burned down all their forests and polluted all their rivers,,, then also came to Asia and Africa to take resources. But at the same time,,, China pretending to care about the environment is too silly! China and India fighting for clean air. That's something new. They are among the three biggest pollutants in the world. https://www.ucsusa.org/sites/default/files/images/2017/11/gw-graphic-pie-chart-co2-emissions-by-country-2015.png China should first stop polluting air and water and install some filtration systems or they will destroy this planet. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: lyks15 on April 10, 2019, 12:06:22 AM Maybe bitcoin is already affecting the flow and the value of China's fiat money so they are threaten that even their business industry will be affecred. All we know that China owns the biggest minning system and they also lead in other business such as product and industrial manufacturing so I did not wonder why they are threten that people will have or to own their lot bitcoin.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: MakeMoneyBtc on April 10, 2019, 12:45:02 AM I am pretty sure I've seen the same rumors a few months ago but seems like nothing happened since them. Losing China from mining would definitely be a bad thing for bitcoin and cryptocurrencies since it's the country with the most population in the world meaning that a certain percentage of them are also mining. For now nothing is official and this are just rumors, so let's wait and see what's going to happen because anyway we can't do much against it
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: pooya87 on April 10, 2019, 03:02:15 AM this sounds to me more like FUD coming from a group of people who are so scared about bitcoin price rising again after a year of drops and because the new ATH is being predicted to be around $100k this time, they feel threatened their "empire" is going to be brought down to dust by bitcoin's adoption so they are starting to do things like this and spread nonsense.
bitcoin mining in China has turned into a strong thing that is feeding the electric companies, and lots of other sectors. so if they shut it down they are not just shutting down mining they would be shutting down dozens of other businesses and put thousands of people out of work. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: muratsink on April 10, 2019, 04:29:17 AM China always makes new sensations to influence the BTC market. if BTC mining in China is removed, then it will make the BTC chart become stagnant or fall dramatically again. I do not understand how their concept is cryptic. the point of my assumption is that China wants to control the crypto market. but they can't.
if public enthusiasm for crypto is very large. then the government must provide a quick and positive response. or the government can make crypto backed by yuan or natural resources. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Ciscopro2000 on April 10, 2019, 04:31:10 AM The Chinese communist government is trying to control the people’s money. They control what their people can view on the internet, so they ent to control this too. Typical communist stuff.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Yaunfitda on April 10, 2019, 04:59:48 AM China always makes new sensations to influence the BTC market. if BTC mining in China is removed, then it will make the BTC chart become stagnant or fall dramatically again. I do not understand how their concept is cryptic. the point of my assumption is that China wants to control the crypto market. but they can't. If could affect the price obviously, but I would say not in the long run. Many countries will take the lead and its more willing to do so. Bitmain, as far as I can remember have been venturing outside though, so let's see how it will transpire in the future. if public enthusiasm for crypto is very large. then the government must provide a quick and positive response. or the government can make crypto backed by yuan or natural resources. The Chinese government doesn't care about the sentiments of its people. They want to control everything and bitcoin will not be the one to destroy their ideology. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: bitcoinisbest on April 10, 2019, 05:08:40 AM The Chinese communist government is trying to control the people’s money. They control what their people can view on the internet, so they ent to control this too. Typical communist stuff. If China decides to ban it , this could have some trouble in the market and as a result it can fall a bit in prices as things will turn to negative sentiment and those panic sellers are lot in a market who will sell quickly. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Kakmakr on April 10, 2019, 05:50:09 AM You know what, a lot of people have been complaining about China being in control of Bitcoin mining and mining being centralized and fud like that, so we should see the positive side of this, if this should happen. Let's say China did accomplish to ban Bitcoin mining, then the monopoly that they supposedly had, would be broken. ::)
The Chinese miners are also very creative and most of them will shift their operations to other countries, when and if the Chinese government starts to ban Bitcoin mining. <A lot of them have already moved to Bitcoin friendly countries> ;) Let's see the opportunity in an announcement like this. ;) Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: stompix on April 10, 2019, 09:25:21 AM China and India fighting for clean air. That's something new. They are among the three biggest pollutants in the world. https://www.ucsusa.org/sites/default/files/images/2017/11/gw-graphic-pie-chart-co2-emissions-by-country-2015.png China should first stop polluting air and water and install some filtration systems or they will destroy this planet. Quote "There are three kinds of lies: lies, damned lies, and statistics." That's one side of the story. If we consider pollution by country. BUT, and there is a big but, if we take the other stats, from the same page you took the graph, it paints a different story. 2015 per capita carbon dioxide emissions from fuel combustion (metric tons) https://i.imgur.com/7LZ0Vw4.png India may pollute 1/3 of the US but the average Indian only does 10% compared to an American or Canadian. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Noa_Amable on April 10, 2019, 09:31:16 AM All governments in the world treat negatively cryptocurrencies and Bitcoin as alpha-currency, they are afraid of financial capital leaving the country's budget in the shade. My opinion is that China is simply taking another step towards Bitcoin legalization, there can be no complete denial ... it is just temporary decision, they will change their mind. anyway China is really closed country, so it is not a surpise Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: aad140386 on April 10, 2019, 10:16:09 AM It is difficult to say exactly what the Chinese regulator is guided by. Perhaps the Chinese government has long-term plans for the global spread of the yuan in international payments and they see a threat in Bitcoin. But if bitcoin is mined mainly by Chinese miners, then this theory is also not entirely clear, since China will still have a significant part of bitcoins thanks to its miners. Perhaps the Chinese leadership is still afraid that the shadow economy will increase and the state will receive less tax revenue.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Johnzky on April 10, 2019, 10:35:58 AM If we are really concern about the community and the market prices then we will stop spreading this kind of post when it has nothing to help the cryptoworld
China is always there whenever the market starts to grow,so why helping the story grow when we can just forget this kind of issues,and for the second time they release this topic but yet nothing happen Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: crwth on April 10, 2019, 10:41:43 AM Maybe this is one of the reasons Bitcoin had a congestion and a lot of unconfirmed transactions formed. I just thought of it. Anyway, I know that there are a lot of mining farms there and I have seen videos regarding having one of the largest farms there. If China limits it, meaning they want to have control over it completely. Maybe there's a motive, and we are still unsure of it. No possible leaks yet I presume, just banning of the farms. I hope it gets resolved.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: samcrypto on April 10, 2019, 10:43:19 AM I am pretty sure I've seen the same rumors a few months ago but seems like nothing happened since them. Losing China from mining would definitely be a bad thing for bitcoin and cryptocurrencies since it's the country with the most population in the world meaning that a certain percentage of them are also mining. For now nothing is official and this are just rumors, so let's wait and see what's going to happen because anyway we can't do much against it Largest population in the world but not the largest mining place for cryptocurrency. So far the market are getting bettet and this rumors will remain rumors not unless the market will dump because of this. I know China is not that supportive at all because they want to control their people so its normal to hear news like this. Cryptocurrency will stay even if other countries hates it, they can’t stop this.Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: minersday on April 10, 2019, 11:13:44 AM It will be a difficult thing to do in trying to eliminate bitcoin mining. People have invested thousands of dollars in building mining farms in China and some of these people are yet to gain profits from their investment. This is one of the speculations about Bitcoin haters of the entire bitcoin ecosystem create just to put fear in the hearts of investors and crypto enthusiasts in the crypto space. Threats about China wanting to ban cryptocurrency started way back in the later part of 2017 and up to now cryptocurrency is not ban in China. It will not be easy to ban bitcoin mining and I pray this doesn't happen...
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Micerker on April 10, 2019, 11:16:34 AM This is the result of changes in investment trends of investors in their country. Practical investments are no longer of interest and no longer attract investors, the government will take measures by issuing bans on Cryptocurrency.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: pawanjain on April 10, 2019, 03:29:48 PM Nobody would ever believe this shit! There are ways to save the environment and stopping bitcoin mining is not one of them.
China should find a better reason than this. China had been trying hard to stop their people from investing in cryptocurrencies right from the beginning. It is clear that China has problems with crypto but instead of banning it why don't it regulate it. It could benefit not only them but also the rest of the world. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: eternalgloom on April 10, 2019, 03:44:43 PM I never agree that China or India, or even any other developing country needs to care SO much about the environment and sacrifice their industrial outputs and productivity,,, remember it is easy for developed nations to say they take care of the planet, but it was them who killed all their wildlife and burned down all their forests and polluted all their rivers,,, then also came to Asia and Africa to take resources. But at the same time,,, China pretending to care about the environment is too silly! China and India fighting for clean air. That's something new. They are among the three biggest pollutants in the world. --snip-- China should first stop polluting air and water and install some filtration systems or they will destroy this planet. It's not about clean air, they're only banning Bitcoin mining because Bitcoin (and other cryptocurrencies) are a threat to their own currency. In the end, this could be good for US and European miners, who do not have to compete against China's miners, who have access to cheap electricity & mining hardware. I wonder if the Chinese miners will move their operations abroad... Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: maman567 on April 10, 2019, 04:26:57 PM China have banned bitcoin as transaction payment and never give allowed for bitcoin become legal transaction although as investment, after China banned bitcoin price of bitcoin is drop and lower.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: senin on April 10, 2019, 04:28:02 PM All governments in the world treat negatively cryptocurrencies and Bitcoin as alpha-currency, they are afraid of financial capital leaving the country's budget in the shade. Back in 2017, the Chinese government stated that it considers a decentralized cryptocurrency a threat to its economy. In the future, it will periodically take measures to restrict the circulation of cryptocurrency, and it seems that it has already been banned from mining it several times. Many Chinese have already found other countries for mining, in particular, the province of Quebec in Canada, where the cold climate is suitable for this and Belarus, where preferential legal conditions are created, and in other places. So, in my opinion, these are not the first threats, and the Chinese have long been ready for this.My opinion is that China is simply taking another step towards Bitcoin legalization, there can be no complete denial ... Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: proTECH77 on April 10, 2019, 04:47:17 PM Whenever Bitcoin price starting to rally china always release a news statement that they will ban anything about bitcoin or cryptocurrency. During the 2017 bull how many bans and restriction they announce and it didn't stop the bull from raging the market. That's the point, the China have been playing their games around the world of cryptocurrency and in particular Bitcoin because, they are in charge of the mining equipment of Bitcoin and other cryptocurrency. They have done it before and never worked, not even now that the market has started to recover that it will work. Since the news feeds in the market still growing. China politics will not work on Bitcoin and cryptocurrency in general. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: hyunee on April 10, 2019, 04:50:12 PM I've heard of this news but I don't know how that thing did not affect bitcoin price? Usually when China wants to create a FUD just like last 2017 to ban cryptocurrency on their country, it affected the price and made the price of bitcoin go down. Do you know why did this happen?
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: mkcjeewantha on April 10, 2019, 04:54:02 PM :) :) my opinion is they are scared of BTC because they can't control this currency like the way they control everything so they want to get away from this. but China is not the only country in this world so there is nothing to worry BTC will be mining where ever, whenever need! so I'm not worried about it! BTC has recovered well so let's enjoy it! I wish all my crypto loving friends all the very best! 8) 8)
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: vit05 on April 10, 2019, 07:27:46 PM I do not believe that today the impact of this news can affect as much as it could have affected in the past. In 2017, rumors were that they would banish it altogether. Strangely at that time the price only increased, of course, motivated by several other factors.
By 2017, China had a crucial role in all aspects involving Bitcoins. It was the largest producer of mining hardware. They were where the biggest miners were concentrated. It had large exchanges that were responsible for a considerable slice of world volume. We had some drops at that time, and then we had significant highs. Today the entire mining structure can be easily transported. The equipment can get a little more expensive if produced in another country, but it is unlikely that they will ban the production of it. The price impact, if any, will be minimal. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: bitcoin-shark on April 10, 2019, 07:57:35 PM i believe that all governments try to prevent the spread of something that is not under their control and does not bring benefits (taxes) to the state, but it will not be so easy to block the miners, i believe many of them come from China and mining is their main entry... Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Ucy on April 10, 2019, 08:18:58 PM This would not be happening If people were mining on Pc or small devices. Proof of Stake is not an option though. It just doesn't feel right.
This should serve as warning to those whose blockchains are trillion of terabyte in size. If they keep growing at this rate the blockchains will eventually lose their censorship resistance which should be an important feature of a real Blockchain. Blockchain shouldn't be approaching this size unless we're certain that storage devices will keep increasing in capacity, becoming cheaper and smaller. Large scale mining should be avoided by all means. Capitalism doesn't work so well on this kind of thing. Would be great if wealthy miners can create & provide services via permissionless online mining hubs for millions of globally distributed miners and charge the miners certain amount of their profits. Much safer than having too many miners concentrated on a place. And Ofcourse the wealthy miner should not be able to censor transactions using the hubs Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: DreamStage on April 10, 2019, 09:15:06 PM “I believe China simply wants to ‘reboot’ the crypto industry into one that they have oversight on, the same approach they took with the Internet.”
This would be a good thing if it would be better then Blockchain i would go with it. “Bitcoin mining wastes a lot of electricity,” Well in fact China is getting his polution levels lower each day now which is a good thing. Maybe that's some reason why they want to ban mining to prevent some "additional polution". Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: MakeMoneyBtc on April 10, 2019, 09:18:10 PM i believe that all governments try to prevent the spread of something that is not under their control and does not bring benefits (taxes) to the state, but it will not be so easy to block the miners, i believe many of them come from China and mining is their main entry... Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: pixie85 on April 10, 2019, 09:25:33 PM That's one side of the story. If we consider pollution by country. BUT, and there is a big but, if we take the other stats, from the same page you took the graph, it paints a different story. 2015 per capita carbon dioxide emissions from fuel combustion (metric tons) https://i.imgur.com/7LZ0Vw4.png India may pollute 1/3 of the US but the average Indian only does 10% compared to an American or Canadian. It doesn't matter how many Indians or Chinese people live in the area. What matters is the number of pollutants like factories power plants and refineries. If you build a very big factory in a very small country you will top that per capita statistic like Saudi Arabia is. My goal wasn't to compare countries but to show that one of the biggest pollutants in the world has no right to say they care about the environment and therefore fight bitcoin mining. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: Widya0986 on April 11, 2019, 03:44:55 AM All governments in the world treat negative cryptocurrency and Bitcoin as digital currencies, they are afraid of financial capital that makes the state budget under shade. Seeing this situation is what makes the bitcoin situation increasingly threatened and makes the value of bitcoin fall rapidly because China is one of the biggest Bitcoin exchanges in Asia. Just wait for it to continue, if it is closed it means there is a possibility that bitcoin and altcoin will fall rapidly.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: michellee on April 11, 2019, 04:09:31 AM “I believe China simply wants to ‘reboot’ the crypto industry into one that they have oversight on, the same approach they took with the Internet.” This would be a good thing if it would be better then Blockchain i would go with it. “Bitcoin mining wastes a lot of electricity,” Well in fact China is getting his polution levels lower each day now which is a good thing. Maybe that's some reason why they want to ban mining to prevent some "additional polution". They want to ban mining, but they still allow some company or individuals to mining bitcoin. I guess that they are not serious with that because they see the potential to mining bitcoin and the other coins. They will do this again and again in the future, and even they stop or ban the mining process, I think it will give a good impact for the other because one big competitor is reduced and it gives a chance for the other to do mining and try to be the next bigger mining company. Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: coin-investor on April 11, 2019, 04:48:46 AM Can they really do it and can they totally wipe mining in their region, Chinese have proven that there is huge to be made in mining Cryptocurrency, they will find a conducive location, they are very enterprising and even if locating to other countries will be one of their location, but let's see how it goes.
Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: mustangy on April 11, 2019, 04:53:22 AM Ohhh yea they lost all exchanges and billion flies away when they fight with them.
Now miners China is new superpower who is not aware yet. Politics are idiots. thousands of smart financial analyzers and coders gone to japan and korea or malta from china. my guess this is good news and better for bitcoin decentralization. fck Jihan scammer Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: dentolas on April 11, 2019, 08:28:08 AM well, I'm getting used to the constant news about China... they just seem to keep banning and accepting BTC in a cycle...
China is very closed, and crypto is a small community in which a lot of interests move... so .... For me it is hard to think about the motherland of Bitmain leaving BTC mining, and just a few weeks ago, I've read something about the government issuing one more mining license for bitmain to operate on an additional province... And have you seen chinese rivers, cities air quality, etc?... do these guys seem worried about the environment? have you seen that the leading solar power manufacturer is china, and they are rising really fast in renewable energy production capacity? well, better to wait and see ;D Title: Re: AGAIN: China says it wants to eliminate bitcoin mining Post by: shesheboy on April 11, 2019, 08:40:11 AM All governments in the world treat negative cryptocurrency not all meyt . recently i saw a statistic made up by some user which say that there are now 110 countries that allows and legalize the use of cryptos and the rest 10 countries are under review . Seeing this situation is what makes the bitcoin situation increasingly threatened and makes the value of bitcoin fall rapidly because China is one of the biggest Bitcoin exchanges in Asia. there was a news on the past that say china had ban crypto and ico's but the price did not fall too hard . now if the banning will happen , i dont think that the price will fall too much . chinese will always find a way to use thier cryptos even if its risky . They want to ban mining, but they still allow some company or individuals to mining bitcoin. if they allow some to continue mining then that is not a total ban . the ban can only be happening on several region or cities . there is a good chance that the bad is only for temporary purposes . |
