Chances Chinese Government Will Ban Crypto Coin Mining?

[GlobalProtection]

What do you think are the chances that the Chinese government will ban crypto coin mining within the next six months?

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[pikatju]

Very low. They are opening up to ICO's on NEO and I dont think they are going to ban. If they ban most likely it will be temporary

[GlobalProtection]

They just banned things related to cryptos recently, how can they be opening up NEO to ICOs now when they so recently banned so much related to crypto coins? It does not make sense.

Thanks.

[shibob]

I dont think it's possible. And I dont even find out why they should do that?

[Sanguintan]

They just banned things related to cryptos recently, how can they be opening up NEO to ICOs now when they so recently banned so much related to crypto coins? It does not make sense.

Thanks.

I think the Chinese can trade NEO in foreign exchanges.

[Radientgurkin]

What do you think are the chances that the Chinese government will ban crypto coin mining within the next six months?

Its anyone's guess. But I did read a few days ago (can't remember exact where) that a number of the larger Chinese miners were already preparing to move their operations to countries nearby, like Russia or Vietnam. 

This is odd, cause I also read Vietnam was cracking down on Bitcoin. 

[mikbal]

Unlikely. Crypto mining is export. Export is good for the yuan.

[Radientgurkin]

Unlikely. Crypto mining is export. Export is good for the yuan.

Although agree that a large mining capacity with free electricity is great for GDP, this is not why Chinese officials would/do fear Bitcoin.

Bitcoin represents an easy (easier) way to move capital OUT of China in the event of further capital controls. Same with all countries. The fear is not controlling currencies in your country.

[Direwolve735]

I'm sure that China does not benefit from the ban on crypto coin mining. But the uncertain position with respect to mining is rather difficult for the development of this business in the country. China needs to remain a major player in the crypto currency industry and the ban on mining will not ensure this.

[leowonderful]

Bitmain's likely also got connections to the government with their massive mining power and wealth. With so much hardware in China right now I find it difficult to believe mining will be banned in the near future in China. A ban (even temporary) would be pretty devastating to crypto in general as the net hashrate on BTC would drop resulting in slower blocks, price dumps, etc.

[ethereumhunter]

What do you think are the chances that the Chinese government will ban crypto coin mining within the next six months?

the chinese government can do whatever they want of crypto coin mining but I am not sure that they will do this. although they really ban the mining crypto coin, the mining company will search another way to still continue the mining. we can see bitmain as the large company bitcoin mining and they still run their business and I am sure that they will negotiate with the government so they can continue the business.

[zoird]

It is unreal. Most likely they will focus on national cryptocurrencies. The Chinese government sees great prospects in this direction.

[Radientgurkin]

Bitmain's likely also got connections to the government with their massive mining power and wealth. With so much hardware in China right now I find it difficult to believe mining will be banned in the near future in China. A ban (even temporary) would be pretty devastating to crypto in general as the net hashrate on BTC would drop resulting in slower blocks, price dumps, etc.

This is a more important factor I hope people are aware of. Thanks for bringing it up.

The bigger mining pools are getting so powerful they do have the ability to get together and manipulate hashrate power making one of the coins f.eg. BTC suddenly backed up /constipated and together with some FUD (perhaps about Bitcoin banning) the price could easily flash crash. Knowing this, it gives them the opportunity to buy on the dip before they return the hashing power to normal together with higher prices.

As mentioned above, connections in the government doesn't hurt in this scenario.

[Branko]

99.32%

[mettalmag]

60/60 it will happen, like in the ICO case couple month ago
they are affecting price with decisions like that
but it will be temporary.

It will affect all crypto market prices and in fact it will be good for us until they will decide to undo their decision

[dagarair]

I'll sum it up easy:

Zero Chance

[minerlai]

not a chance on that!