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Author Topic: [2020-02-08] Police Shuts Down Bitcoin Mine Over Coronavirus  (Read 224 times)
stompix
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February 12, 2020, 05:33:18 PM
 #21

Where are those who are telling everyone that the corona virus will be good for bitcoin? Any world crisis creating event will never be good for anything. Those people creating those types of storyboards only want a pump.

It is good for bitcoin.
Shutting down Chinese farms means more decentrlization
So, it is good for bitcoin /s

Saint-loup, article you posted is from 7.2.2020, just one day after one posted in OP, and only new thing what I learned from this other article is that "the local authorities of Sichuan province" closed some mining farms back in December due to the dry season and lack of electricity. Maybe this is case even now, and allegedly shuts down of that mining farm in fact it only has indirect connections with virus (described in my previous post).

Probably not related
According to people on weibo the mine is in Zhundong, Xinjiang and that region is full of cheap coal mines and power plants, almost the same as bitmain's Oros region.
I will blame probably authorities paranoia in this case.

ps.
One really good comment from weibo:

Quote
Can you guarantee that the BTC that is dug out will not carry viruses?

LE:
This is translated with google, but its another post from him

Quote
We have a lot of mines in Sichuan, Yunnan, Xinjiang, and Inner Mongolia, so we know that the situation in the front line is very bad. Traffic and materials in various places were cut off, people could not be moved (Xinjiang's most exaggerated, and those who took it away for 20 days before isolation) could not resume work.

Our mine is okay. We left half of our staff on duty a year ago. Now that we do n’t have enough staff, it ’s just that the online rate of the mining machine is poor. The main impact is that some mines that stopped construction and blacked out, and thousands of mining machines could not be transferred.


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Theb
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February 12, 2020, 06:38:03 PM
 #22

I wouldn't really count on less restrictive actions for a while, because when you loosen the actions taken, people will automatically start to continue living their life the normal way, thus increasing the odds of new infections. China as paranoid as they are, will definitely not let that happen so they will continue their current approach as it seems to be effective.

Looking at the current hashrate, it's fairly stable so there doesn't seem to be much of an actual impact at all. As the price continues to go up, more gear will be put to work, so whatever gear ends up getting turned off, the effect will be nullified by the gear being turned on.

What we just know is what the Chinese media is feeding us but judging what the media's confessions and whistle blower testimonies we are seeing around the internet the current situation in China is far worse than we think that's why we are seeing these kinds of moves done by the authorities like closing business operations and locking down regions/provinces. We don't know the current situation or how worst the disease is happening in China that's why we are seeing this mining farm shutdown as some kind of excessive action done on their part but what they might be doing is just right based on what they know. We are still really clueless here but I do think they are doing extra added steps just to avoid the spread of this outbreak.

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bbc.reporter (OP)
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February 13, 2020, 12:57:55 AM
 #23

Where are those who are telling everyone that the corona virus will be good for bitcoin? Any world crisis creating event will never be good for anything. Those people creating those types of storyboards only want a pump.

It is good for bitcoin.
Shutting down Chinese farms means more decentrlization
So, it is good for bitcoin /s


Agreed, that would be good. However, the question and the criticism was targeted to those people who do not think and pump the idea that a crisis would be always good for bitcoin's price because bitcoin can fix this.

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