Urgent news: China is shutting down cryptomining

[a6ledn218]

Electricity isnt the big problem,the greedy people who is taking advantage the crypto for their wealth,there will a lot of powerful people in the chinese if the china dont regulate cryptocurrency,chinese are too racist to each other

Maybe you misunderstood, there is no racial discrimination, but for the use of electricity mining, there is no good supervision and management, you need to define its social attributes

[Bezobraznike]

Oh this wont be pretty for Bitcoin and Ethereum. Chinese miners and mining pools make up for a big portion of the network. Regulation have now begun.

https://mobile.twitter.com/cnLedger/status/949468263800479744


RIP Bitcoin

The effect seems different from what you expected. The price pumped in the last 24 hours. It seems that the crypto community is already tired of hearing FUD news coming from China. It has no effect anymore.

Anyway, if ever its true there is ample enough miners coming from other countries to cover what will be lost.

    Do you still have trust in Chinese? They are spinning the news for years, and in all that
time they did not do anything except making more money from their manipulations.
   I doubt that this can have some big effects on Bitcoin, when will people understand that
Bitcoin does not depend only from Chinese, Bitcoin is bigger than any country and their laws.
   Like with all news coming from China regarding Bitcoin this one will be forgotten too, just
wait couple weeks or month and they will just continue with what they did. Do not trust
Chinese government.

[ZaoXhou]

Oh this wont be pretty for Bitcoin and Ethereum. Chinese miners and mining pools make up for a big portion of the network. Regulation have now begun.

https://mobile.twitter.com/cnLedger/status/949468263800479744


RIP Bitcoin

The effect seems different from what you expected. The price pumped in the last 24 hours. It seems that the crypto community is already tired of hearing FUD news coming from China. It has no effect anymore.

Anyway, if ever its true there is ample enough miners coming from other countries to cover what will be lost.

I think it can still  have some effect, but all this fud is just not as powerful as it used to be. Bitcoin has grown too much.

[lolchina]

Not this again,same old story every 3 months china is baning btc we all gonna die sell all sell all sell all This is nothing new and its not about shutting down the mining its more to regulate it as many chiniese miners dont pay for electricity while having masive farms,nothing big will happen as those farms will move to other part of the countrie or in other country competly like russia or iceland

[max6575]

China is not shutting down cryptocurrency mining completely, just the errant mining companies.

https://www.cryptoinfomag.com/2018/01/04/china-btc-mining-shakedown/

Didnt you read the news? It is also about miners not paying tax. China wants a big piece of the cake and the numbers of miners not paying tax are probably HUGE

they might be huge in numbers of the miners, but for me the parts of potential miners with good revenue as possessing better resource only less with the relative to total population of miners in prc.
from 1.3 billion of the people, i guess the number of miners with the less potential competence may reach until 1 billion and they have less resource on possession to leaves less taxable revenue from their daily lives with bitcoin.

[nioctiB#1]

Oh this wont be pretty for Bitcoin and Ethereum. Chinese miners and mining pools make up for a big portion of the network. Regulation have now begun.

https://mobile.twitter.com/cnLedger/status/949468263800479744


RIP Bitcoin

Why you people think that bitcoin will be dead if china shutdown all mining farms in their country? you think it the wrong way. even if china will really do it then let them. mining difficulty will drop a lot but that is not a bad thing instead it will benefit those people who want to mine bitcoin but can only do it small time and also think that china is not the only country that can mine bitcoin. they cant even shut it all. miners can just spread their hardwares in different houses and continue to mine bitcoin without government being noticed.