Bitcoin Forum

China intends to abandon mining cryptocurrency by 2021.How do You think this news will affect the entire industry and what alternative countries can replace this niche?What is the cost of 1 kilowatt of electricity in your country?
https://uk.reuters.com/article/us-china-cryptocurrency/china-wants-to-ban-bitcoin-mining-traders-say-move-not-a-surprise-idUKKCN1RL0C4 (https://uk.reuters.com/article/us-china-cryptocurrency/china-wants-to-ban-bitcoin-mining-traders-say-move-not-a-surprise-idUKKCN1RL0C4)

Hey
Well to be honest I tend to think of mining as a job , where people usually earn and help the Bitcoin grow.
If China will ban the mining that is if  people from China aren't taking up this job then this job will simply be redistributed between the people of other countries where mining is not banned.
People will continue to mine to be honest there won't be any kind of problem , there are countries who are pretty favourable for mining , and who knows maybe in year or ten ,the mining will entirely change , how its done and how much electricity it consumes because let's just be real , it's a pretty non environment friendly process and that's a negative point.
I just hope it gets improved.

Before creating a thread, please do some search first to know whether there is/are other same topic or not.

AGAIN: China says it wants to eliminate bitcoin mining (https://bitcointalk.org/index.php?topic=5129707.0)

Look at this thread, it is discussing exactly the same as what you have just shared. So better to lock this thread and use the older thread to avoid repetitive posts.

Alas, the issues raised are different in the branches. So let's discuss what I suggested.

What the heck are you talking about? You are literally referring to the same article that AGD shared in his thread where you both are talking about the same topic.

Same issues being discussed here which is why your statement does not make any sense. Locking this thread is the best option.

I searched for the article in the Press subsection. I didn't find it, so... I posted it again there too. Different newspaper, same news.

Although mine is in the right place, I'll close it and redirect to the older topic.

Instead of debating the issue, You start to flood.How do You think this news will affect the entire industry and what alternative countries can replace this niche?What is the cost of 1 kilowatt of electricity in your country?
The same questions?

This will not affect the industry on a large scale IMO if only the actual mining aspect is banned while the production of newer ASIC chips isn't. For once, the cluster of mining power on China will be dispersed into other countries and the network will finally have a chance to decentralize the network. Russia, Iceland, and perhaps the US itself can pretty much harbor large-scale industrial mining. China is only being chosen as the hotspot given the ample climate conditions and cheap hydropower. Iceland has it, the US has it and Russia has it as well.


From where I live, our per kW/h rating is @ $0.25, which is pretty darn expensive as compared to other countries knowing that this country's entire power (or at least on the urbanized areas) supply is monopolized, and that sucks because the government hasn't done anything to abolish this one-company system for decades.



Pardon me but AGD's topic is mainly about China playing as the environmentalist dudes and this here is talking about how China's move can affect the industry.

I don't think that this has an effect over the whole transaction network of bitcoin. There are still a lot of miners outside China and Chinese miners are not that a lot compared to other countries.

Looking back a couple of years China also ban bitcoin mining as well as some part of Asia but it didn't have any effect on the transaction of bitcoin.

I wonder if they will really abandon mining, knowing China, they always go for opportunities where they can earn money. Mining is profitable especially if they are the one manufacturing miners and if the electricity cost is cheap. We are not certain if they are really going to do it since they have announced it a lot recently that they will ban crypto and mining and yet, they are still here.

It seems to me that China will in no way give up mining. Since they stood at the origins of cryptocurrency and it all essentially began with. I do not think that they will give up their own money.

it's a good thing. Bitcoin mining is not environment friendly at all. Who cares about miners from China? BTC exists before them, right? :)

They have all the capabilities doing that, but doesn't mean that it will create a huge impact, bitcoin miners are already around the world, major miners from china will just migrate same thing happened with Bitmain where they've moved their operations to Switzerland early 2018.

Answering about electricity cost, from where am I, it's not advisable to do mining as as you need to pay $.20 per kWh.

If we try to look at generally,China do really have that big contribution when it comes to mining and theres no question in that but talking on stopping then i wont completely believe in that they will do that.
They are earning profits and its impossible for it to be abandoned.Knowing china do make some decisions and proclaiming things but later on they will take it back.So dont take it seriously.

I wouldn't this thing to be a problem anymore, since the year 2017 Chinese cryptocurrency miners (https://news.bitcoin.com/chinese-bitcoin-miners-explore-relocating-abroad-amid-fears-of-crackdown/) have considered moving out of the country to mine overseas due to high electrical cost as compared to to other countries. This has been the talks for the past few years now and if they banned mining entirely this would be the likely solution for Chinese miners to do because some already have been mining overseas now just because of the expenses alone. Here is another news (https://news.bitcoin.com/chinese-bitcoin-miners-explore-relocating-abroad-amid-fears-of-crackdown/) talking about Iran as one of the potential countries to be attractive to miners due to cheap electricity, a country banning their own mining industry won't be really a problem for miners as they couldn't kill mining entirely that easily.

Just go through the forum you'll find threads that resemble the same. Don't just indicate it, even when you find such please inform the Op and further add what you think of the issue. Even when posts seems repetitive, that were upon various perspective when it comes from different users. China being a major contributor to the cryptocurrency network suddenly taking such a stand on mining in one way affect the cryptocurrency network. But soon some other country takes the market which won't let the market fall off.

The government really wants to shut down the entire cryptocurrency community in China but nothing is new about that, In my opinion, if this settles and entire China would be ban from mining bitcoin I really think that there will be other countries that support Cryptocurrency and bitcoin to just continue mining, And we are in the stretch of mining the last block I guess there is no need for China to continue and let others take over, Well there are other Chinese people that accumulate their earnings in mining that will surely move to other countries to continue mining I really think that will be possible.

Hey look, china banning bitcoin again? It happened so many times now, no one cares anymore, Bitcoin is a global currency, decentralized and should not depend on 1 country even if it's china. The price barely even reacted to this piece of news anyways, I think people are starting to realize these news don't affect Bitcoin at all, they have been happening for years now and Bitcoin is still here.

It's also very easy to figure out a different location for your mining operation. China hasn't exactly been super cheap with its energy lately due to the drought over there, so what do large farms actually lose here? I'm sure that the small margin they miss out on is easily compensated by settling in a country with a stable government that doesn't jump left and right because it doesn't know how to handle crypto.

Miners have already done a lot to move their operations elsewhere. China has been quite hostile towards crypto in general for over a year now, so it's nothing new. On top of that, the pools that you see consist of smaller miners all over the world, and they won't be affected by any of these Chinese measures (would this proposal be accepted).

POS = value creation, which is something governments all over the world will also dig into when it becomes a thing. Don't start celebrating already.

Honestly, I don't know which countries can replace China in this matter. Because China is best suited for this. Perhaps, if somewhere in the deserts a large number of solar batteries are supplied, it will be possible to get electricity cheaply. Therefore, in my opinion, the countries of the Middle East will be able to take on this work.

Apparently, the production of new chips will also be buried.Because based on the legislation of China, this is an adjacent industry with cryptocurrencies.It is difficult to imagine where mining farms will put their worn-out equipment and what will be the fate of the BITMAIN plant.I still do not understand why China decided to take such a step...After all, in general, they also made very good profits.

2021 is still far, there is enough time for various companies to relocate from China to a more Crypto friendly countries. It seems each time the bitcoin tries to moon or get bullish, the Chinese government creates a FUD to distorting the market. This is not going to continue forever. Every government will eventually use the bitcoin with time.

It terms of cryptocurrency deployment, we can't even rely with them to support this. They'll have this banned before and it suddenly drop the price but its not just a long effect to crypto space, there is a way to find better than of China. We are already in huge numbers which means that we are strong enough and could stand for any crisis that will happen again.

If you are right it means that China is willing to give up an entire sector which is very important for a country which want to be superior in high technology. Do you think that is a reasonable move for China? There is not even a reasonable motive for China to do that. I think, authorities in China want to control fully mining sector and gain extra money from miner via taxing or other ways. 

I am not sure about mining cost in my country compare to China . As I am getting quite decent amount of electricity bill every month . There is no profit recently even I am doin mining by thinking future . But whatever China do for market manipulation . Think about last big bull run happened once China announce crypto exchange ban . After market crash happened soon in couple of month big bull run happened . So don’t worry keep hold or increase your crypto assets .

It seems to me that Kino will never give up mining. This is the most progressive country. All technologies originate from there. China will not stand apart from their money. Especially if he started everything in essence.

https://www.gizmodo.com.au/2019/04/china-considers-ban-on-cryptocurrency-mining-because-its-a-stupid-waste-of-energy/

If someone stop mining, some new people replace that, it is simple as it.

I don't think it will stop blockchain or make mining very lucretive. Just miners will change, outcome will be the same.

That FUD did not affect bitcoin's price but still China is a great country it can manipulate price of bitcoin easily. I saw that news and realizes that China is an opportunist. They have belief in bitcoin that's why they are doing what they can so that they can take advantage of it.

bitcoin mining is actually very distributed and has been so for years. your about a couple years out of date if you still think 'china owns mining'

thats the old racist rhetoric of the fox news crowd style of propaganda trying to flame up drama of how mining is some how communist

gotta find it funny though
china has more diversity than america, 3x the population. yet people still talk of "china" as if its a single person

China advances in technology and if they are planning to ban bitcoin mining, it is probably that it is no longer too profitable for the miners and of course they've probably thought of something better alternative than what they have in the present. I bet China is planning something big to replace what the masses presently have. This may greatly affect the value of bitcoin and in my country electricity is not a joke so even if there will be people who would want to engage in mining it will not be worth it.

“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.”

Well if they do intend on achieving such mindsets than yeah why not? Maybe it would be the next bitcoin crypto with some never seen technologies. Who knows.
On the other hand they could still revoke this sort of weird approach and ask for more taxes in which they would profit as well thus not necessary revoking crypto industries from China.

I may only think that China would like to compete with the other powerful countries and wanting not to be connected with them. As they know that they can't probably control the market as they want for, that's maybe the reason why China will step out from crypto engagement even before.

The bitcoin mine consumes a lot of electricity and also encourages virtual currency speculation. China plans to close bitcoin-producing mines by making electricity consumption more wasteful and including risky investments. This is not the first time China has acted against crypto mining. In 2017 Chinese regulators also closed bitcoin exchange companies and banned initial coin offerings (ICO).

I don't find it's surprising, China like to make a controversial news but in the end will still do the things, if China stop mining then other countries will take the place so don't worry, as long as it can make money people will find ways to make it happen, and its good to not depend on China so much because the government is very strict and like to make a very tight regulation

I will answer your questions in bold. The industry will first react negatively, because a significant drop in the hash rate, might compromise the security in Bitcoin. Most people think the majority of mining are done in China, so they will fear the worst.

The reality is that loads of people have huge mining operations in many other countries and this will provide for enough hash rate to secure the network. Also, a massive drop in the hash rate will cause a drop in the difficulty and this will enable miners that left the mining scene, to start their old mining operations again, which will increase the hash rate again.  ;)

Maybe they will replace bitcoin mining to mining something else in the future.
We don't know if bitcoin still on the top of cryptocurrency or no in 2021, maybe something new will born in near future.

Really not surprising, but the timing though? Your guess is as good as mine.

When bitcoin is making a rally and has posted a lot of gains in the past months and seeing the massive gain last week, why would China suddenly release an open statement about mining bitcoin?

Of course the price could be hit negatively, if they decided to shut it down. But in the long run bitcoin will still thrive somewhere else and the price could still go and touch another all time high.

I think they want to stop mining cryptocurrency and if they want to mine the other coins, I think it's not worth mining the other coins since bitcoin has the higher price depends on the other coins. So I think if they want to shut down the mining process, they can do that in anytime and I guess that there is no problem with the other country because they could continue to mining bitcoin and other coins.

they just want to ban it in future, but that could be absolutely temporary decision.

It wont have any affect on mining... the big mining farms already moved to other countries. If hashrate drops, the difficulty change. So i don't see any bad affect at all. There are many mining friendly countries on the globe, so dont worry about china.

Regarding your last question: Private mining in my country isn't worth it. We are paying in average 0,32 € per kWh.

China is one of the countries with the highest number of bitcoin mining and at that if China abandoned mining it will have great negative influence on the bitcoin mining. The only possible solution is for miner's in China to relocate and look for other favorable location to continue operations.

I believe this gives another opportunity to other countries, this is an opportunity that they left behind, and some group or institution will be interested to do this. The mining industry will improve as it is needed for the crypto to stay and accommodate it's adoption.
In technical aspects I can't give my opinion, but in general, this is what I think.

China declining bitcoin mining i think will not really affect that much on the bitcoin industry,maybe a little difference from what bitcoin now but not that much since there is still alot of miners out there,also chinese businessmens are money minded they can easily transfer mining gears to other country and start again

All these are FUDS that are being spread so that bitcoin holders can sell their bitcoins at this cheap price. How many times have we not heard that China has placed a ban on cryptocurrencies yet they are still mining cryptocurrencies. I am sure this news is just to put some false information out there so that most people can sell cheap whiles bull run may just be few months away.

Before we know ending of this year we would just hear another release by China saying that they are no longer going to ban it just like what Facebook did. Now Facebook is planning to launch their own cryptocurrency. I am sure China would also make such news soon  ;D

I was surprised by China, because it was always a trending topic for crypto. I think China will gradually change its policies in the crypto industry and bitcoin mining. of course this will be a consideration of China in this industry, because now China really does not have a big influence after banning bitcoin and crypto

If you happen to know mining difficulty, a sudden shutting down of a huge hash will definitely affect the entire industry, though it will be temporary but still, it create a huge buzz, possibly a FUD and it will definitely affect confirmation and the same issue like unverified tx for a long time will happen again. 
The involvement of China in cryptocurreny in a negative way seems very timely, are they intend to push down the price of BTC?  Now that it is in recovery?  Someone say, Bitcoin rising, with china releasing negative news that involves BTC = official Bitcoin Bull rally which make sense.

This news is confused someone telling news is not really right.
But if it right,I think its can't any effect of crypto market.Because we can see example China mostly people don't use Facebook but its don't effect on Facebook.So its will be same its don't effect this bitcoin.

I read this news sometime ago on Twitter and I was shocked because China is one of the leading countries in Cryptocurrencies and for that matter when BTC mining is stopped in China I think it will affect the overall market cap of BTC and also people will start to loose interest in cryptocurrencies.

China has indeed carried out a mining system that is so large, in that country the mining industry has become a common thing and even large companies spend one warehouse full of mining tools. In energy treatment, in China the electricity needs are so large, there are so many mining tools that are used and that is what causes the spread of Bitcoin so very large in China and is very different compared to other countries.

In my opinion there needs to be a regulation that regulates the circulation and use of mining equipment in China, it is far wiser than having to ban mining activities completely.

I don't think that this has an effect over the whole transaction network of bitcoin

I think it does not affect much to the development of Cryptocurrency industry. In fact, bitcoin is still alive despite the baned from China. In the near future, China will also break the bitcoin embargo, they will recognize its importance. The benefits that blockchain and Bitcoin bring are undeniable.

A more alternative place aside from China but i think it can still affect the market if they fully implement this ban. In European countries a lot of miners are quiet suffering from a big cost of mining, I hope they will see a more affordable electricity because in my place, it's also not a good to do mining aside from a higher cost there's always a power outage that can interrupt your mining activities.

For now, but we can't say this in the future. We need a more friendly country to do mining without any hassle.

This is unlikely to happen, mining brings ina lot of revenue for China, why would they shut down a profit generating business only to lose it to another country.  Makes no sense and this is just more fud spread by bad news sources.

True. Also the miners will have a pretty long amount of time to move their mining equipment to another part and avoid problems or issues there. At least the big ones.

I don't think that it will be the biggest issue because of that reason and also because other miners will see an opportunity there and the rate will still be somewhat alike in the growth over time. I could be wrong, time will tell.

China has enacted prohibitions and raised electricity prices in this country high to limit Bitcoin mining in this country. As much of the information reported from web blogs shows that Bitman, China's giant has moved its mining site to another country with a colder climate and has lower electricity prices. I believe this is not too important Bitcoin mining.

I Think We should not worry about  to be refused mining by china. whenever there are more intresting project runnig by crypto . so does not matter their i think so.

I think that China plays a big role in mining and indeed in cryptocurrency. Because I think that if China refuses all the same, it will very badly affect the market.

This can affect at start bitcoin in some way but i think if new people will start mining and rewards of mining will be shared to other old miners from another countries then all can go normal as before, but if the price will be over 50,000$ or close to it i don't think China will ban mining.

one of the biggest bitcoin miners is in China, thus assuming electricity resources in China are very large and expensive and if China stops it, it will also affect the price and development of bitcoin, but considering many cryptocurrency projects at this time to make alternative energy namely environmentally friendly sources of energy / green energy to overcome the electricity problem maybe if this is applied China will cancel its intention to leave the cryptocurrency currency in 2021

is it real? as i know china is the biggest country that do bitcoin mining, if bitcoin mining on china stopped i think it will makes many different, the big different i think bitcoin volume will drop and it will makes bitcoin price is moving again

I think that it will greatly affect the price in the market, but I am sure and believe that China will not do anything like that which leaves the cryptocurrency currency.

China can't refuse bitcoin mining in a sudden way and there will be only one loser if authorities take a decision like that . ıt is China. At first, it may cause a volatility on price but market will be balanced soon and everything goes like used to be before for bitcoiners.

China decision will have a major influence on the development of crypto, especially on mining, and then on the value and volatility of BTC on the market.

there are some major impacts if China  mining hashrate decreases.
1. the activity of transaction validation after the node and the connected bitcoin network will be small.
2. Miners who keep the blockchain going down.
3. it will be difficult to create a new block.
electricity cost in my country is very expensive, so, my country is not a good place for cooperation.

I'm read so many articles, searching many website i can't find anything that china refuses mining. Mining is the profitable way to earn money then why china refuses mining? We never want to lose any opportunities to earn money or gain profit. I don't think that china refuses mining when it's way to earn money.

I just don't understand why people will spread speculations with no tangible evidence and reasons to back their claims. The speculation of China putting an end to crypto mining started in 2018 and no results were seen in this claim.  Bitcoin mining is not the source of pollution in China, so people should stop speculating this to the fact that China wants to save its environment.

Actually, there are many Chinese miners who went bankrupt in 2018, but the issue was raised again now. so in 2021 I was sure I would not have much influence on cryptocurrency because the Chinese miners had sold their assets last year.
Many of them also moved to neighboring countries which legalized crypto

A terrible picture, but I do not think that this fog on the background arose as a result of mining.In my country, 90% of the goods are made in China.Instead of mining, it would be possible to slightly reduce really harmful production.

 ???

I saw this in the article:


from where did you get this: " China intends to abandon mining cryptocurrency by 2021 "


it is very difficult to say how this news can affect the industry and about the alternative countries, I do not know if there is any country that has the same conditions as China offers, this is because in other countries electricity is a little expensive and environmental laws are more severe. But there is always an alternative to any problem


the cost of electricity of my country is very expensive, if to live normally is already suffocating with the current cost of electricity, imagine if someone wanted to do mining in my country? this person would certainly go to bankruptcy in less than two weeks.

Will you stop this bullshit issues about this damn Chinese government putting Fud on our community?cant you see that this kind of topic are only bringing trouble to the cryptonians?i am sick and tired reading something about China towards our cryptospace when what they only want is to bring us down

I think that the information about the ban on mining in China is nothing more than a manipulation of the mass consciousness to cause panic and collapse the market. Now they will make this information throw, and then after a while will publish a denial.

is that real? as i know that china is the biggest coutnry that do bitcoin mining in the world, and i think that they woulnd't stop by small reason, becuase as i know there are many many mining station with big resources on china. by stopping it, i think bitcoin price and transaction will affected by this issues

If will have short term effect definitely. But once other entities started to mine outside of China then we can recover from all of this 'ban mining' coming from them.

Again, monopoly can be broken, new personalities will emerge and bitcoin will continue to flourish in the future. And then we are all good again in the next 2-5 years.

Well that is a good news anyway, I do not like chinese people hoarding bitcoins for they are really good at it and this will let bitcoin down in an instance if they will sell it after they can gain on the market price volatility of bitcoin.

Tge chinese people are really good in handling money and they are very professional in getting profit so if I were with a group with chinese people then definitely I will be the last user to earn with them.

I think China has completely banned the involvement of crypto and bitcoin mining.
but if I see what you are linking to, I have to re-read a lot of every news item on china for bitcoin and crypto.
I think China is not a big problem and problem for bitcoin or mining

The news is good and bad both as china was having the biggest mining facility and now that it is going to get closed, it should affect but what way no one knows it.

In my country as crypto currency is ban so their is no chance of mining. Electricity charge is 0.06 usd per kb

It already happened since this ban is not new anymore. There are problems in mining Bitcoin in their country the reason they banned it in their country but that doesn't mean they will not be able to use Bitcoin in transacting to other countries. They will still be able to use Bitcoin but not inside their country because we all know it is banned there.

Seems they won't be really doing it, they just want to "tax" some more money from it. But if they "do" it, its wealth that is simply moving elsewhere, such as Mongolia or Siberia. In short, their loss.

Pollution? Ridiculous. Bitcoin has little or nothing to do with pollution. China's weather is a bad combination of desert sand-dust and more traditional industries, especially given their massive use of coal, which is a reason they built that three gorge dam in the first place...

Besides bitcoin is self regulating itself in that regard, unlike what the PoS fanboys want to make people believe, mining will become unprofitable AT ANY PRICE if you don't produce your own "free" energy from renewables, so this will cure itself by simple market forces. Yes bitcoin price is climbing, but mining costs will rise faster than the bitcoin price, provoking a slow but steady reduction in mining (which is what you see every-time miners complain and quit, a design working as intended).

The last miners will be those with renewable energy, mark my words. The current generation of grid only mining will shrink and disappear, its only a matter of time. You may debate how long this will take, same as debating bitcoin price going up, but not the trend in the long term. We know it because of the code, which cannot be changed unless the vast majority agrees.

Every year China recreate Fud in order to restrict cryptocurrency allied business nt to expand last year they banned ico and now mining but in China still peer to peer crypto transactions is legal and happening

If China really refuse mining i think it will be good for Bitcoin in long term..  They can't manipulate after that move the price

I doubt people are going to buy into this FUD you speak of. This isnt the first time and it wont be the last. They want to change the hands that hold the crypto and so they do it. If people who are into this trading end up selling their coins then its their loss or gain, nobody is supposed to comment on that.

Whether this will allow mining ecosystem to be more feasible for non-China miners is a second question because people are more interested to make sure that their money is safe. While that is commendable still the community behind bitcoin is strong and that is what should reassure them against the 51% attack panic that is being created.

I agree.  It seems to me that after this bitcoin will grow in value.  But China has a great influence on it so it can turn around and the other is not a very pleasant side for us.  For example a crash for bitcoin.

That's what we are gonna witness after this banning happened, the migrations of those companies from China to other potential places will bring more new players inside this market, the impact can be negative for some time but afterwards for sure it will get attentions and investors will slowly moving forward.

There are many big bitcoin mining companies in China but the government are going to stop them because they think that it's waste of power. Bitcoin mining helps transaction to be confirmed, so there might be problems with the transaction speed, might be lower.

I agree.  Mining is very expensive now.  Because a lot of electricity is being spent.  Therefore, the choice of China is clear, this is a very smart decision.  But China stood at the origins of the creation of cryptocurrency.

That is what usually happen after the adjustment, the market will have a little bit of drawback but after a while, it will smoothly go up again. Adjustments that will be done by the miners, investors and even regular users will be worth it for long term purposes because based on the history of bitcoin, even bad things happen, it will still go up in the long run that will give a lot of profits to the patient users.

Well for me China has a prediction about bitcoin and bitcoin mining so they are going to do their best to get rid of it. I also think that maybe the electricity especially the taxes should pay by the miner. It will be hard for the miners in China but soon they will move on I guess.

i dont agree with you , because since china banning bitcoin , prices has not rise at all but the opposite
Compared to prices at 2017 to prices of today
China affects prices because Population ratio is high

I am sure the crypto market will not be affected by things that will happen in 2021. if in 2021 China stops mining, the price of the crypto currency will decrease but only temporarily, after that the price of the crypto currency will rise again in the near future because the country other countries will trade and invest a very large amount of crypto currencies.

enough wıth that, chına refuses mınıng korea bans crypto, japan sell btc , bla bla bla, reaaly enough wıth that, so funny and so borıng and people sell wıth these stupıd news,

they can refuse mınıng that doesnt mean btc wıll end, chıne ban mınıng they go japan, japan bans mınıng they go russıa, russıa bans they go mars, they can not stop thıs

I agree, since Mining is very costly because it uses lot amount of electricity to operate mining machines and the process of transactions is not much benefits let to the investors and crypto lovers hence China is planning to stop mining process widely. This step can provide some good opportunity to other countries as well if market grows rapidly in profitable way.

It is not surprising for China to ban bitcoin mining since they are very scrupulous when it comes to money involving activities. They would even limit the amount of dollars a certain person can bring out of the country and so they would ban bitcoin mining since they dont want people to have secret money that is unknown by the state. So some Chinese bitcoin miners have already went out of China and transferred location to set up mining farms. But even though the government of China bans bitcoin mining, people in China will still mine bitcoin since they prove it to be profitable with cheap electricity and cheap hardwares.

It seems to me that as soon as China refuses mining, this will greatly affect the Bitcoin course.  Because China controls it more.  Because I think that this will be not good for us.

Whether it is FUD or whether its coordinated pump and dump infusing propaganda is not known. We can all expect it to be the former because we know that if one miner stops then the other miners will be getting a bigger proportion or rewards for the upcoming blocks and they will continue to mine. The panic only arises from the network security issue that people think of in other words a 51% attack becomes more easier when miner support is weakened.

LOL I like your stance buddy. Give no shit to the shitcoiners promoting such FUD news and stay put on your feet about bitcoin. ;D

It says that they planning to end it on 2021 so I believe by now they are already planning and preparing for something better to replace what they have right now in mining. They’re probably planning for a more advance devices in replacement to what they are using right now.

Maybe, it seems that they still hyping this issue and with what the statement above you, there's possibilities that they will not give it up since they are beneficiaries of this industry, China knows how things works and how they can take the advantages among nations who also wanted to play from this industry.

China won't be letting this to happen cause they know already that there is a huge money in here. There previous statement regarding banning crypto have ended already and they are now with crypto again.
Yes,  they could benefit a lots and everyone who are in crypto does. And so there is no reason why they'll keep banning crypto at all.

Who cares? We know that a lot of Chinese migrated their operations on other countries where mining is legal. And if that is true then it could be that before 2021, China has already made up their minds that they  need to be in this industry because btc possibly before that is   successfully adapted in many countries.

I've been hearing about this since a month ago. Well, their loss. If anything, decentalization of mining would mean the price would no longer be affected by the FUDsters in the CCP. Bitcoin could also become more environmentally-friendly if countries with clean energy like Norway takes the helm.

seriously? China still has an influence on the crypto industry especially for bitcoin?
I think the main problem we face is not that. because in my view China has no longer had a major influence to destroy bitcoin as it did in mid 2017.

Yes, but for some reason friendly countries have not yet deployed a Bitcoin mining farm in their country.The transition from one country to another will be very long and costly.With such a cost for electricity in your country, mining is out of the question)!

The concept that bitcoin is adversely affecting the environment is an over-exaggerated one which makes people think its bad and without knowing the actual metrics they start commenting on the same. The amount of pollution coming from printing dollar bills is way higher than what is done by bitcoin mining. That and the fact that miners in other countries are waiting for bigger miners to stop so that they can start mining well with profit is what will keep the network safe and secured even if China wants to turn rogue.

These news are just pieces of FUD made to stimulate the weak hands to sell their coins. Not something worth discussion.

All this news to cheer us up.  Nothing like that will happen.  China started it and it has most of the cryptocurrency.  He will definitely not refuse her.

I think the Chinese government can really ban Bitcoin mining. In September 2017 they already threatened miners by blocking network connections on their border firewall. Therefore, I assume that this government will strengthen the pressure on the crypto-currency industry in the future.

The volume of the mining hardware sales is really huge (more than 2 billion dollars) so the Chinese government probably wants this market to stop growing. As an option, such a way they try to force Chinese miners to sell their hardware to other miners living in foreign countries.

In any case, in April 2020 the Bitcoin mining reward will be halved so miners will not be able to earn a lot of BTC coins.

I am wondering if more and more mining centers will switch to the use of alternative energy, will it allow to reduce the cost of bitcoin? After all, while mining is very expensive

Maybe it will. Now many projects decide to combine green energy and mining. Recently saw such a project in Kazakhstan, and this is all brought to the state level

funny,I see  more and more nice projects from there. I also found a nice one. taklimakan is a social network for crypto enthusiasts. It looks like Kazakhstan is going to become the next capital of technology.

Well, there is China with one of the largest economies wants to ban mining, it’s natural that centers will open more in Central Asia, where at least the level of development may be less, but the cost of production is cheaper

Well, there is China with one of the largest economies wants to ban mining, it’s natural that centers will open more in Central Asia, where at least the level of development may be less, but the cost of production is cheaper

Yes, indeed, many people forget that in 2020 the cost of production will be reduced by 2 times and it is logical that such a number of mining equipment will simply become unnecessary.Perhaps the Chinese authorities have foreseen this circumstance.

Well I think this is not true news because it is fake, china is showing great interest in crypto currency, we can see china is developing more and more in crypto currency, we should try to leave this all and spread only wise and good news in market, invest when you see progressive increment is being done with crypto currency.

One is not always news only wise and good.News is news regardless of whether it is good or bad.Everyone agrees that China is interested in cryptocurrency, but mining is an integral part of cryptocurrency in which China occupies the 1st place.And the rejection of mining really takes place.Therefore, to deny the fact that China can really abandon mining is not worth it.

This might be a unpopular opinion but i would prefer it if mining farms died out all together and mining went back to what it was pre 2016. In those days mining was a lot more decentralised with a lot more individuals buying miners and contributing to network hashrate. If network difficulty is to grow to where it is now it should be through a decentralised effort not because of some mining farm infestation.

What happened after they banned exchanges Binance moved to Malta still it is one of the biggest exchange in the world . Its making lots of progress even still more . If mining reduces in china coins value increase in other place . Because if there is a less mining there will be less supply .

I very much doubt that the Chinese will refuse bitcoin mining. Now China is practically a monopolist in the market. And bitcoin Is the future. I think the Chinese government understands that perfectly well.

I also think that it is almost impossible.  Since it was China that gave us the opportunity to use the cryptocurrency as it is now.  China has a very cheap labor force. He will definitely come up with something to pay less for electricity.

 ::) Well if China refuses mining and keep banning bitcoin or cryptocurrency, surely there is effect into crypto world, but I believe there is still country who will welcome and accept it and can help spread positive feedback for those who really want to know more about bitcoin, for those who invest on it, and for those who use it as part of their country's economic growth.

I read some article about China's plan to ban crypto mining and some of the reasons they would do is because of the electricity consumption of mining farms is too huge and they also said that Bitcoin or other forms of crypto can be used in crimes such as a medium for the illegal drug trade but I think banning it entirely will be impossible and if they wanted to ban crypto they banned it a long time ago. There could be a possibility that they are only planning a much effective regulation about Crypto Currency and planning to make higher taxes on it. But if China really ban crypto mining, I think those miners will migrate to a different country to continue its operations. 8)

There are so many rumors about China lately, and if I am not mistaken it once promised to stop mining before however nothing happened.

Indeed, many times they have announced to refuse mining but still mining keep on going the country, Many of these information are calculated attempt to distract Bitcoiners from following Bitcoin. If for example China refuse Mining, there are other countries that will embrace it, simple.