Mining plants in China are shutting down. How will this be reflected on Btc

[Vishnu.Reang]

We must always try to look at any any positive angle we can from any news and this is one of them, China due to being the country that had the most miners always had a huge influence over the market, if those mining operations are closing down then it is unlikely this is going to be forever and instead those mining facilities are just relocating themselves, so this is good for bitcoin as the dominance of China over that aspect of the network finally begins to disappear or at least it is not as strong as it is now.

Is it that easy to relocate the mining operations? China is the preferred destination, because they manufacture nearly all of the mining rigs, and also due to the fact that electricity is very cheap there. If the miners relocate to a country such as Mongolia or Russia (where the electricity costs are relatively low), they need to first pay the import duty on mining equipment. And in these countries, the bureaucracy and red tape are big issues. Therefore getting a permit to set up such operations may take a lot of time.

[jqprez]

We must always try to look at any any positive angle we can from any news and this is one of them, China due to being the country that had the most miners always had a huge influence over the market, if those mining operations are closing down then it is unlikely this is going to be forever and instead those mining facilities are just relocating themselves, so this is good for bitcoin as the dominance of China over that aspect of the network finally begins to disappear or at least it is not as strong as it is now.

Is it that easy to relocate the mining operations? China is the preferred destination, because they manufacture nearly all of the mining rigs, and also due to the fact that electricity is very cheap there. If the miners relocate to a country such as Mongolia or Russia (where the electricity costs are relatively low), they need to first pay the import duty on mining equipment. And in these countries, the bureaucracy and red tape are big issues. Therefore getting a permit to set up such operations may take a lot of time.

there are a lot of places in the world. Eu -Us-africa-asia.
surely, if they reposition themselves, the miners will never go to china again. I'll tell you more: given the lack of reliability of the Chinese people, this will also affect other activities.if the electricity will cost 10 cents instead of 6 it means that btc will rise and will be produced with clean energy (solar, wind, hydroelectric)

[Obito]

~snip

my idea is: low hashrate low value. Cause the btc price go up when the hashrate go up

It doesn't matter because if the mining stops in China, pretty sure that a lot of people from different countries are going to replace them albeit slowly so worrying for the long-term isn't the best thing to do.

[jqprez]

~snip

my idea is: low hashrate low value. Cause the btc price go up when the hashrate go up

It doesn't matter because if the mining stops in China, pretty sure that a lot of people from different countries are going to replace them albeit slowly so worrying for the long-term isn't the best thing to do.

the question is the time. It' s not easy and fast create a farm with low cost energy.

[Reatim]

Due to the big blackout in China, the government has decided to ban mining and I have verified that, indeed, many mining facilities are closing. I have seen that there has been a nice cut of hashpower but, I have also found that some hosting centers have closed. This could be good because fewer miners would have more income.

You have verified the banning but you don't even give a link about this here? yeah that is fair 

due to this decision the Market starts to full down and even make bitcoin fall to below 30k once more.

~snip

my idea is: low hashrate low value. Cause the btc price go up when the hashrate go up

It doesn't matter because if the mining stops in China, pretty sure that a lot of people from different countries are going to replace them albeit slowly so worrying for the long-term isn't the best thing to do.

Actually a state in US are planning to cover this mining losses from china and willing to adopt those miners inside their city .

i just forgot what state was that. if I'm not mistaken that is Texas ?

[South Park]

We must always try to look at any any positive angle we can from any news and this is one of them, China due to being the country that had the most miners always had a huge influence over the market, if those mining operations are closing down then it is unlikely this is going to be forever and instead those mining facilities are just relocating themselves, so this is good for bitcoin as the dominance of China over that aspect of the network finally begins to disappear or at least it is not as strong as it is now.

Is it that easy to relocate the mining operations? China is the preferred destination, because they manufacture nearly all of the mining rigs, and also due to the fact that electricity is very cheap there. If the miners relocate to a country such as Mongolia or Russia (where the electricity costs are relatively low), they need to first pay the import duty on mining equipment. And in these countries, the bureaucracy and red tape are big issues. Therefore getting a permit to set up such operations may take a lot of time.

I think it is fair to assume that relocating a mining operation is not something easy to do as not only you need to relocate the equipment but the people that took care of the mining operation and not everyone will be willing or be able to travel, however if there is a ban or at least less tolerance to that kind of activity in China then you do not really have any other option but to do it despite the costs this will generate as the only other option is to close definitely.