China plans closing Bitcoin mining.

[honeyira]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

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[bornv8]

can we really trust Chinese government not to change their mind?

[kissme09]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

This has little impact on Bitcoin as large Bitcoin mining companies are now shipping to colder, low-cost countries. And most of these countries accept Bitcoins and Crypto. Do not worry too much because the ban does not affect the market and the market continues to trend up.

[Armstand]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

This has little impact on Bitcoin as large Bitcoin mining companies are now shipping to colder, low-cost countries. And most of these countries accept Bitcoins and Crypto. Do not worry too much because the ban does not affect the market and the market continues to trend up.

I have heard 5 countries banning, but it shows that Bitcoin was not affected at all, maybe since China, SoKor, social media, or other bigger names that are influentially affect bitcoin before were all done that bitcoin is capable on moving still.

[Tisubasha]

I think the impact of this bitcoin mining ban in China will also puncture the transaction time, causing increased fees to be paid to transfer bitcoin. This could negatively affect the value, as it would make cryptocurrency less practical as an alternative to the normal currency.

[ClackKendi]

In China, bitcoin mining consumes a lot of energy and the Chinese government is concerned about the problem. They fear that bitcoin digging will affect their energy.

[poptok1]

Such claim requires a source. Without any source its nothing but a FUD ergo belongs in to speculation board.
Apart from that, events like this are never commenced from day to day. It will rather be a process, even in communism driven country.
Firstly a market panic, big dumps and price plummet but soon after, network will readjust itself and start to recover.
Difficulty would go down, making mining profitable somewhere else, not to mention states that are very pro-crypto, they will attract "crypto-tourism" and mining outsourcing. China is not the whole world, and market cant stand vacuum.   

[Palma_Laura]

I think it impossible because Most of miner in the world is Chinese and it cause unemployment in the economic,Government don't want it

[lauranaura67]

This isn't the first time we've heard FUD news coming from China. It's like they're deliberately spreading fear to stock up on cheap crypto.

[labilaab]

China for all we know that they are really conservative in all aspects so that’s why they are closing the rig mining of Bitcoin since it consumes really a lot of electricity.As China also suffers market-crashed on 2011 as stated here http://www.businessinsider.com/china-power-shortage-and-the-economy-2011-5. So its a big deal really for them to sacrifice their electricity bill just for bitcoin.

[Red-Apple]

What can you say about China of closing their rigs/mining?

i'd say you should get a life instead of spreading FUD

This could overshoot the price to the moon or plunge the price below the ground?

if something like that happens someday it won't happen overnight. first the mining farms will simply relocate so the hashrate will just move its physical location then some small miners who are mining at home will stop and that can lead to a small hashrate drop which won't even be noticed!
the price may have a small drop but it won't even last 2 weeks

[ngerok]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I have a miner and have operated until now. I am not affected by news that affects bitcoin. which I did observe the price movement and keep mining, the current price began to rise on appeal three months ago. I have benefited from mining this month.

[Dmitry.Vastov]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

This is the very bad and the shocking news for all the bitcoiners because if countries like China wo is considered to be such a huge country bans bitcoin and moreover after legalisation it,then how would other countries will think to legalise it in their nation, an awareness needs to be created at international level so that people will develop their interests in bitcoin and other crypto currency too.

[Moiyah]

This isn't the first time we've heard FUD news coming from China. It's like they're deliberately spreading fear to stock up on cheap crypto.

A natural response to this news is just to still have a grip on our coins. We can see that such fud may affect the price, nevertheless if this is officially true then China had a big reason why they have to banned the mining companies. ICOs and other related cryptocurrency are surely affected by this decisions made by China.

[Caelanpelley]

can we really trust Chinese government not to change their mind?

I do not really believe in China. Because they can change their minds at any time. In the past, China has vowed to ban ICO investment activities, blocking all Bitcoin and ICO ads aimed at minimizing fraudulent activities. Now, China plans to start exploiting bitcoin.

[novsali]

I do not think that this decision will be implemented. They should better increase the taxes for mining related activities which will increase their revenue.

[samoilov]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

If they close minig completely, those people will migrate to another place. So it will be bad for China in my opinion in long term and they should reconsider this.

[chillitabit]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

it is very hard to believe what you hear especially when it comes to country like china, that is saying one thing and another day they say something completely else. They're surely getting involved in blockchain business, which is really good I guess

[campbell.box]

There are many places in China where people have very little power resources, which makes the utilization of power resources inadequate!

China should re-allow the operation of BTC minerals, which will promote economic development!

[Itha_]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Given the restrictive plan that may end with a ban on operations for bitcoin mining in the coming months, miners are beginning to prepare to shift their baiting operations to a number of overseas areas that legalize or do not strongly condemn the bitcoin trade and mining. Russia is the target country most targeted by bitcoin miners from China given the cheap price of electricity. hopefully what this china does is not too negative effect on bitcoin price, length of transaction time and margin.

[Veterock]

I don't think that this will greatly affect the price, because all the major miners have already moved to Hongkong and South Korea

[Crypdon]

I don't think it would have much of an impact as the big players will simply move their operations abroad to countries with a lower cost of energy and loose regulations. Some are even considering renewable fuel as a form of energy (like soycoin), only issue is that China will lose out from the bitcoin boom

[vendy86]

I think everyone already knows this issue since January.and I think since China government ban ico then following by ban crypto exchange and crypto itself.no more news from China can bring offense to market.

[rumexx]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

We all should wait to see what will happened if China actually wants to shut down mining rigs for bitcoin. There are a lot that has been happening with Bitcoin price and China actions recently. The good news about all these China's action is that Bitcoin will always come back.

[Evangeline2]

BTC is not allowed in China, but mining is not forbidden by the famous words, many people rely on mining for a living, and I don't think it will have much impact on the market.

[cr1tbayman]

Mining cannot be closed. They might starting prohibiting it on a legislative level but practically miners will always exist.

[jpespa]

If China closed all mining in their country then there will be a huge reduction of bitcoin miners and I think it will greatly affect the transaction speed and fees plus and not only huge amount of bitcoin miners but also bitcoin users. I can only imagine that the price of bitcoin will dramatically decrease again and will be hard to recover. Well I still hope that something like that won't happen.

[Duogembrot]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

if china is really trying and trying to shut down mining companies it seems like bitcoin will be more expensive because of the reduced worker who can produce bitcoin and china may also try to shut down the mining companies as the results obtained are not so much in line with their efforts.

[Veterock]

The Chinese government has been talking about this ban for almost a year. I'm thinking that worrying about a sharp price jump is not worth it

[YED]

The Chinese government will end bitcoin mining operations in the coming months, a move that could have a massive impact on the price of the world’s biggest digital currency...China has been a central player in the development of bitcoin in recent years, but Beijing has spent the last six months cracking down on the cryptocurrency industry shutting down local exchanges and banning initial coin offerings

[sate_padang]

If china decides to close the mine I think it's better and can increase the bitcoin price, but we do not know what will really happen and we should have a reserve fund to be alert when the price goes down.

[Sudarmoon]

I think that's very influential with bitcoin prices, and it can go up and down, but it should not be a problem for us if we have a reserve fund to trade or in investing.

[cpoer2011]

Really? are they plan it again to closing bitcoin mining since last year plan? We will see the news once again about their plans to close bitcoin mining and what will impact for the bitcoin price and altcoins.

[BLAST2MARS]

I think we should stop giving attention to China fud and all thos ban stuff because it's very clear that they are going to stay no matter what. I still see some stores that offer mining rigs in CHina and a lot of ICOs with chinese people.

[lqkfamily]

I am mining in China.      and I am fine.

[juiceannabel]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Are you sure about that? i know China is one of the biggest crypto farmer.
If china really want to close their mining farm, i guess other farmers will get more bitcoins.

[Pursuer]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Are you sure about that? i know China is one of the biggest crypto farmer.
If china really want to close their mining farm, i guess other farmers will get more bitcoins.

your answer is in the date of this topic!
it was started 5 months ago and OP was just another butthurt newbie who lost money and was trying to spread FUD about bitcoin. as you can see the miners are growing even more in China!

[tungmeoden]

why china always bring bad news for crypto market,seem they want crypto market dead,they always find the way stop crypto at your country

[freesia_pnp888]

it's not the final decision yet i bet  they will keep messing around for sure lol

that's what i wanted to say, too hahaha they and south korea!

[Nolivelasco13]

can we really trust Chinese government not to change their mind?

[aryaadikariyansyahsuwarto]

eventually one by one the country will do that, it could be the beginning of the extinction of bitcoin, because maybe other countries will follow in the footsteps of china. but it's still news, not sure .. we'll see the future ..

[TrufieldICO]

Why is there always negative news being spread on this platform. If you believe in cryptos and Blockchain technology as a whole, then stop spreading these negative rumors. It is not healthy for anyone holding cryptos as an investment

[tungmeoden]

why always china? they always want the crypro market dead,i am beginning hate china,they can't control crypto market,they ban,it is not fair

[Ankhesenamun]

I would not worry too much about China is not the first and not the last who forbade and will prohibit the production of bitcoins. Strong weakening of bitcoin will not give it, be calm.

[fiulpro]

75% of the total Bitcoins mining facility capability is with none other than CHINA
Thus you can think what would happen if they made a decision like this ..
It will plunge to the ground but also we know one thing for sure and that is :- it will recover..
Nothing is permanent .. Bitcoins have recovered from a fatal blow from China only in the past and it will remain to do so in the future because.. at the end of the day China is just one country .. we still have many supporting elements.

[mineko]

I also do not know for now, and hopefully China does not close the rig or miners, and this can hurt all miners.

[freesia_pnp888]

wait! don't be so upset, they will change their minds hundred times before making final decision lol. China is always like that, along with Korea!

[blockman]

Everything that is happening in China is questionable.

Someone tells this and that but we don't have anything to prove that his claims or news are legit. You don't believe in someone without any valid of authenticity.

[HudiBaba@06]

It seems after closing all the mining operations in China, Bitcoin market could take a rise in terms of its value apart from all the other rumours that Bitcoin value could take a great fall by June. But cryptocurrencies statistics show a clear rise in market value.
banning miners hopefully shows some signs of legalizing Bitcoin in most of the countries. let's see where it goes. China does see a future in Cryptocurrency.

[rajuahmed330]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I found a news "Although China has become the world’s largest Bitcoin trading market,the country has strictly banned digital currencies on banks because 70% of the central banking authority is owned by the Chinese government". This news published in innov8tiv.
But general people can use bitcoin for trading.

[Malya_alkendy]

I've seen a video on YouTube, that in China there is a person who built a very large Bitcoin miner, If the State of China really closes the Bitcoin mining in that country, I'm sure this person will be very disappointed. And maybe He'll auction the Mining Machine to the people who need it, of course at a lower price. Hopefully this Chinese policy, will be able to make Bitcoin prices increase.

[rye18]

I've seen a video on YouTube, that in China there is a person who built a very large Bitcoin miner, If the State of China really closes the Bitcoin mining in that country, I'm sure this person will be very disappointed. And maybe He'll auction the Mining Machine to the people who need it, of course at a lower price. Hopefully this Chinese policy, will be able to make Bitcoin prices increase.

Although im in favor of closing bitcoin mining due to its very expensive mining rig but still im not sure if the reports are true because no one can proved that its a valid and its a pure speculation.

[Howard1102]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I never believed the news came from China. It seems that China is trying to make a lot of rumors so bitcoin and crypto prices are down. Maybe they do so to buy cheaper bitcoin and altcoin

[PayneCharity]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I never believed the news came from China. It seems that China is trying to make a lot of rumors so bitcoin and crypto prices are down. Maybe they do so to buy cheaper bitcoin and altcoin

right. Almost all the rumors from China will never drown with the truth. As in late 2017, China banned bitcoins and blocked all exchanges in China and made the bitcoin prices drop dramatically. but some time after China has banned the bitcoin

[marinakofoleva]

I do not think that China will seriously take and stop mining Bitcoin.  As you can imagine, 60% of all mining companies will stop working. What's the excitement? or another option, all mining farms will move to Hong Kong or even another country where everything is allowed legally.

[12tribes]

I doubt that China could ever do this. All this is just a pump mechanism to raise the price up. The bitcoin block is still available and then they return to mining and the price crashes. Its a ploy to cause the bitcoin price to be bullish.

[1Referee]

Bitcoins have recovered from a fatal blow from China only in the past and it will remain to do so in the future because..

What fatal blow from China are you talking about? There is none. Also, do you even know the definition of fatal?

The Chinese market is thriving perhaps less hard than before due to the legal restrictions, but they are still in the market, don't forget that. China's +1.3 billion population means that if even 1% (which equals to 13 million) of them is still involved in Bitcoin, they are still a very large market. I am even pretty confident that there are more than 1% of them still involved in Bitcoin.

Also, China will be back. Ditching everything related to crypto isn't something they want to be doing, but they are pretty much forced to do so due to the explosive growth.

[Miztro]

I don't think China will, there is no reason for them to. They make massive amounts of money just mining, and the profits are still feasible.

[K.Tumpa]

Bitcoin mining site very easily income bitcoin.It's china closing very easily.I isn't think china bitcoin stop mining.Bitcoin mining very easily because Mining account created from bitcoin collect more bitcoin.China mining site some time then bitcoin ming ban from country.

[Gathel]

China plans to close its bitcoin-producing mine by making electricity consumption more wasteful and includes risky investments. This is in line with the assessment of the authorities that digital currency (cryptocurrency) is not a strategic industry.

A number of institutions are asking the provincial government to "actively guide" companies in each region out of the bitcoin industry.

The move is to encourage digital currency miners to follow the closing of the bourse and ban the initial offer of coins (ICO).

[Khalp1]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

China, currently the second-biggest economy in the world, proposed a ban on Bitcoin mining companies. I think there is a huge impact of miners.If miners were left jobless, even temporarily, market performance might be impacted. There’s also the possibility of Bitcoin dropping to its lowest price point if the miners are unable to resume operations within a few months.

[mriansa]

it seems like it will make bitcoin very rare and harder to get which means bitcoin can be very expensive because bitcoin will get harder to get, hopefully it's genuine news and no fake news.

[letzdodiz]

Given the prohibitive arrangement that may end with a restriction on tasks for bitcoin mining in the coming months, mineworkers are starting to get ready to move their bedeviling activities to various abroad zones that authorize or don't emphatically denounce the bitcoin exchange and mining. Russia is the objective nation most focused by bitcoin excavators from China given the shoddy cost of power. ideally what this china does isn't excessively negative impact on bitcoin value, length of exchange time and edge.

[thetruth123123]

i think the price will stand on it possition, china shops of minigs are and will always very cheaper than other brands

[HaXX0R1337]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

How does closing of bitcoin mining in China boost the price of bitcoin, i am not sure whether these things are facts rather than China hunting down illegal mining farms and i have not heard any legit farms being given any ultimatum about their operations.

[yudi31]

The Chinese government will forcibly shut down bitcoin miner operators in the coming months, Bloomberg reported last week. This Chinese intention will certainly have a fatal impact on the value of the world's largest digital currency today.

China has been one of the most important players in bitcoin development in recent years, but Beijing has spent the last six months raided the Crypto (cryptocurrency) money market - closing the local exchanges and banning coins.

[K.Tumpa]

China plans closing bitcoin mining because those government aren't believe able mining site.Bitcoin mining earning bitcoin from easy.China government Easy income not accepted.So I there for china plans closing bitcoin.

[kaya11]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

To small time miners it is a good news for them and including me. Less miners low difficulty and more shares to get. Maybe we should just focus on development of crypto in other coutnries and not just China, they are not the star in this show.

[Lexi44]

Yes, but so far bitcoin has participated in the improvement of China economy. In 1 day, china can mine to 25 BTC, but why now mining activity is closed, I do not understand what it means.

[Wahyud11]

China plans to close its bitcoin-producing mine by making electricity consumption more wasteful and includes risky investments. This is in line with the assessment of the authorities that digital currency (cryptocurrency) is not a strategic industry.

A number of institutions are asking the provincial government to "actively guide" companies in each region out of the bitcoin industry.

The move is to encourage digital currency miners to follow the closing of the bourse and ban the initial offer of coins (ICO).

[bitcoin31]

This is bad news to us after banning bitcoin to their country, they want to close mining now. I don't know how they do that. But I hooe the country of china will accept again bitcoin and not banning and closing mining. Because bitcoin is goold opportunity to earn money and they can help to their economy I think to grow more.

[shadowdio]

I watched youtube about the bitcoin mining that was last year, there are many Chinese who like to mine bitcoins some of them rent a building to mine bitcoins, but now government want to close bitcoin mining? this is bad for Chinese miners. 

[Masha Me1]

Yes, I am familiar with such information that at the disposal of the media there was a document in which the Chinese government instructs the regional authorities to gradually eliminate the production of crypto-currency in the country.

[alaskata]

China will take over everything, they are doing their purpose slowly

[Ethelbert Moore]

Yes, I know that China’s government is planning to shut down Bitcoin miners in its latest crackdown on the cryptocurrency. The Leading Group of Internet Financial Risks Remediation has requested that local governments make an “orderly exit” from the industry.

[Roy11]

The Chinese government will forcibly shut down bitcoin miner operators in the coming months, Bloomberg reported last week. This Chinese intention will certainly have a fatal impact on the value of the world's largest digital currency today.

China has been one of the most important players in bitcoin development in recent years, but Beijing has spent the last six months raided the Crypto (cryptocurrency) money market - closing the local exchanges and banning coins.

Based on the scattered documents, it appears that the Chinese government is planning to "end the life" of bitcoin mining operations slowly over the next few months.

[dutchkay]

Well i don,t see it affecting prices again. China have tried severally to control bitcoin but the fate of cryptocurrency can't rest on a single country. Miners have already spread their tentacles far and wide many countries so china banning will go unnoticed. many people have started setting up mining rigs in their own  countries and all these stuffs counts. Remember this is decentralization and can't be stuffed in one country/

[Enoch Lewis]

In my view, China produces the most Bitcoin in the world using Bitcoin mining, which involves an energy-intensive process of solving complex math problems to add transactions to the Blockchain, a public ledger. But the crackdown is about more than the high levels of energy required to mine Bitcoin.

[ejswift]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

is the chinese government are trusthworthy? Should we really trust i think no because we know that governments of china is very selfish

[MrAntonius]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Friends, China is the most important manufacturer of graphics cards and asics. It can release so many mining farms and negotiate the installation of its computers in the cold regions of Russia, or other cold regions (county) where bitcoin is legalized. It's not a problem for them. Believe me.....

[rickn]

China is a country where freedom is not a guaranteed issue. Therefore, all government actions contrary to bitcoin and other crypto are normal for a centralizing country and do not admit decentralization

[budi691]

China I look very inconsistent, first they refuse bitcoin and keep some time later they open the option to open with cryptocurrency. now they are trying to close the bitcoin mining. they are like making an issue for the world to pay attention to the country with the 2 billion people.

[maman567]

Any body know what’s going on with China government faced about cryptocurrency and bitcoin ? before bitcoin have been famous virtual money China is the only one country was support bitcoin and have bee popular virtual money in the world, but when bitcoin have on the top China was banned bitcoin transaction in their country, include all ico and now was banned bitcoin mining. China have more bitcoin mining companies and they have work on big companies.

[Wayan_Pedjeng]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

It will be good news for the miners from other countries such as Russia. The difficulty level will go down and the other miners will see an increase in their daily revenues. That said, I can't predict what effect it can have on the exchange rates.

[pinoyden]

It will be good news for the miners from other countries such as Russia. The difficulty level will go down and the other miners will see an increase in their daily revenues. That said, I can't predict what effect it can have on the exchange rates.

i dont think that this is a good news because as what i always understand if a country has closed btc mining , exchange , etc or any other service related to bitcoin,

the price of bitcoin will also become affected because the demand will be lessen.Im pretty sure that these events can somehow inflict a damage to the current value of btc but only if the news was real and legit. If not , then there is only a small chance that it can cause panic attacks.

[Jihuny23]

Yes, every country has a different policy. Perhaps, China considers that the decision to close bitcoin mining is good for their country. I do not know what the reason China is closing this bitcoin mining. China may feel a loss if this mining continues to exist. If China really closes the bitcoin mining then the market price will decrease as most of the crypto currency players are Chinese. China also affects the crypto currency market especially for the Asian region. Hopefully, China reconsider its decision.

[Kieran Thomas]

It is telling that it was China's central bank that met on the issue of Bitcoin mining, underscoring the fact that the issue is not only, or even primarily, an energy issue. It’s about clamping down on perceived risks of the cryptocurrency, which regulators have associated with malicious acts like fraud and money laundering.

[ipinkang]

What implication if chinese trully close every bitcoin mining operation on that country, the price will go to the moon or the bitcoin price will going down to the bottom??

[Jonbak]

China plans to close its bitcoin-producing mine, because it makes electricity consumption more wasteful and includes risky investments. This is in line with the assessment of the authorities that digital currency (cryptocurrency) is not a strategic industry.
A number of institutions are asking the provincial government to "actively guide" companies in each region out of the bitcoin industry.
As known, miners create new bitcoins by breaking complex code to get validation of new bitcoin transactions. While not really using complicated computational processes, digital currency mining relies on large computing power making it more like a factory industry than traditional high-tech businesses.
Many of bitcoin miners operate in remote areas without registering their business. Some miners also ignore local regulations that prohibit consumers from buying electricity directly from manufacturers compared to grid operators.

[haracutama]

China is planning to limit electricity to Bitcoin miners, and government bodies have expressed concern about energy usage. Bitcoin mining is estimated to use up to 4 gigawatts of electricity, equivalent to three nuclear reactors' production levels. So, I think it is the mainly reason to ban mining bitcoin.

[chillitabit]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Friends, China is the most important manufacturer of graphics cards and asics. It can release so many mining farms and negotiate the installation of its computers in the cold regions of Russia, or other cold regions (county) where bitcoin is legalized. It's not a problem for them. Believe me.....

even if they ban it, new producers will emerge. That is the beauty of the free markets, if there is an economic incentive, people wlll simply find a way to replace them, that's just natural.

[toast]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

China in my opinion is a developed and developing country if they prohibit mining certainly has a strong reason when it happens

[ladydark]

If China bans bitcoin mining,then that would cause a drop in supply of bitcoins as we already know that China holds the majority of mining farms in the world.It may increase the price of bitcoin and it would be better to buy more bitcoins after checking the authenticity of the news.

[Chicryptomama]

The energy issue is a problem......The government and even some bitcoin enthusiasts have argued that bitcoin mining must switch to renewable energy...so in my opinion, the entire mining process should be altered so that it does not rely on enormous amounts of energy instead of banning the mines

[tungaqhd]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I think it will affect on the system strongly because there are many big miners in china.
The price might drop so much.

[Wilfrer]

I think the Chinese ban does not have too much influence on the crypto market. Because most of us operate anonymously, transactions are still made and secret. Besides, I think the price of Bitcoin will soon rise again when the market is increasingly scarce and hard to find them.

[Cult]

I think the Chinese ban does not have too much influence on the crypto market. Because most of us operate anonymously, transactions are still made and secret. Besides, I think the price of Bitcoin will soon rise again when the market is increasingly scarce and hard to find them.

I don't think so. The biggest bitcoin mining powers are located in China and if they all collude they may become a serious threat for the whole market.

[Dominic_King]

You know, China authorities have already cracked down on thousands of criminal cases associated with alternative cryptocurrencies, including Onecoin and Ticcoin. These cryptocurrencies were viewed as Ponzi schemes used to raise illicit funds. Later, officials shut down cryptocurrency exchanges and banned fundraising through initial coin offerings (ICOs).

[Philomena86]

This is very good news for the development of electronic money in the future. I like china very much, this country always innovates and absorbs and applies technology to life. China don't plans closing Bitcoin mining.

[wilburwilbur]

Naah not really, they are doing the same instead
And if ever this is the case then a bad news for everybody
As we all know china ever since has been one of the coutries that supports bitcoin but because of hoax (fake news) the government seems became less interested in bitcoin and other currencies
I believe that china government does not really plan to close bitcoin mining (all of it) but rather close mining sites that are illegal
You see bitcoin mining can be taxed now

[Baimovic]

China has no good purpose for bitcoin, they are greedy and want to dominate the bitcoin market, but their greedy makes the bitcoin market out of control.

but, we assume that Chinese mining has a major influence on bitcoin stability, to this day they still control the bitcoin market, when they close the mines, the bitcoin will drops. and we feel today.

[abojamal]

I think the impact is limited because the major mining companies
Moves to other countries accept btc
Its atmosphere is cold
I think the effect is limited

[Raiden0729]

On the off chance that China shut all mining in their nation at that point there will be an immense decrease of bitcoin mineworkers and I figure it will enormously influence the exchange speed and expenses in addition to and gigantic measure of bitcoin diggers as well as bitcoin clients. I can just envision that the cost of bitcoin will significantly diminish again and will be difficult to recoup. Well despite everything I trust that something to that effect won't occur.

[rindayle]

This information needs to be confirmed, as it can be disinformation that will cause panic among investors. But I think even if you stop mining in one place, appear in another.

[ajuelnah akun]

This is just a rumor, China does not really close their mining and to date, China is still the country with the largest bitcoin mining location.
But if one day it will indeed be done, I think it will be good news. Because if they stop mining, the amount of bitcoin will be limited and the amount of bitcoin in the market will not be equal to the amount of demand, which means that bitcoin value will become more expensive and this is much better than pumping.

[Jolozxc]

I read some article about it before that china is blocking all the relation of their country on bitcoin, But suddenly theres a new news about it after a months that they will accept it again if im not mistaken, I think if they will going to do that again there will be a huge impact again on bitcoin price like it will fall again like what happened before.

[elygil2022]

There is nothing that China can do that will affect bitcoin. That’s what makes bitcoin great. Not even the world’s most populous nation can influence it.

[btcprospecter]

As long as there is money to be made and taxed by a government nothing is going to happen. If China did completely cut off mining somewhere else would take its place.

[cruzinghard]

This is an old news/old thread and this never happened nor do I think it will ever happen. China enjoys having power over Bitcoin, why would they get rid of it? Electrician bills are getting paid anyway.

[Snakerist]

Even if China bans Bitcoin mining it will not mean that these hashing power will disappear. But such news can cause big fluctuations in the price.

[maianh09]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

If mines are closed, Bitcoin prices will go up quickly. Unfortunately, operators are not closing, and they are moving to countries that accept mining Bitcoin and have a cold climate with low electricity prices. Mining mines never stopped.

[bitfocus]

The best decision from China - Bitcoin will stay a little free from Chinese control.

[mfyilmaz]

The best decision from China - Bitcoin will stay a little free from Chinese control.

and then? as long as it is not decentralized it can be controlled by anybody... the bitcoin network today is almost 2 million bitmain s9 big... so if you have enough money and enough power to buy and use 2 million s9 (which every country hast) you can easily take controll of the bitcoin network... its not that hard ectually...

[lzby2000]

I think this kind of judgment is wrong. China does not plan to shut down the bitcoin mining industry, and there is a lot of idle power in China to dig bitcoins, which are in remote areas, and local governments are welcome to the miners.

[gabagandalf]

The best decision from China - Bitcoin will stay a little free from Chinese control.

and then? as long as it is not decentralized it can be controlled by anybody... the bitcoin network today is almost 2 million bitmain s9 big... so if you have enough money and enough power to buy and use 2 million s9 (which every country hast) you can easily take controll of the bitcoin network... its not that hard ectually...

i have not seen it from this point of view. good contribution. i have to think about it first.

[sagittarius1]

Such claim requires a source. With no source its only a FUD therefore has a place in with hypothesis board.

Aside from that, occasions like this are never initiated from everyday. It will rather be a procedure, even in socialism driven nation.

Right off the bat a market freeze, huge dumps and value plunge however before long, system will rearrange itself and begin to recoup.

Trouble would go down, making mining productive elsewhere, also expresses that are genius crypto, they will draw in "crypto-tourism" and mining outsourcing. China isn't the entire world, and market cannot stand vacuum.

[mistanama]

Can I get the source where you read it? Because of these news stories, many new comers are afraid to invest in bitcoin. And there is also panic selling because of such news that has no solid source.

So before we make the thread there is a source of information

[ScrolLlock]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Are you serious?
Do you have clear information about it?
give me a link about the news.

[isabuhay]

These infos help me alot guys

[Btcnaivie]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

If china bans BTC mining operations two things will happen for sure. 1. There will be a shortage and price will go up 2. After closing mining farms, value will increase but so will the transaction Times, and bottleneck effect will be much worse than it is now. So we will get a coin that has terrible transaction times, but also with more value. I wonder what will happen in long term after this.

[belka6619]

In the bitcoin market, it is normal to link the growth of the value of the currency with possible prohibitions on its use in China. In fact, measures to prevent the outflow of capital from the country and as a result of the decline in the exchange rate of the young have already been taken and they are not associated with restrictions in monetary transactions with the use of bitcoin.

[Ems30]

 well,, if Chinese miners plan to  shut down their miners, we would see a huge drop in hashing rate. Since the difficulty doesn’t change right away, that means that it would take a lot longer to mine a block. On top of that, the security of the blockchain decreases accordingly, as it is now easier to run a 51% attack (though this is unlikely to happen in practice). After about a month of having slow transaction confirmation, when the difficulty gets adjusted,and  things should go back to normal.

[allthingsluxury]

China needs to control their people, they need to control their money. They hate Bitcoin and always will.

[BloodKnight]

China has not closed Bitcoin mining yet.But I heard that China has flooded a lot of bitcoin mines due to floods in the last few days. They have suffered heavy losses. Due to the shortage of miners, we may have to increase our transfer fees recently.

[indayburakday012]

Well it is not a lose against china individuals because chinese government are already giving some rules and regulation on their counry. Anyway maybe they plan to close bitoin mining due to low transaction fee and that could take advantage lower mine fees for htem. I do not know why it so low so everyone could do invest in cryptocrruncey.

[summerbloom]

 Its pretty hard to imagine Bitcoin without China being involved in it these days, because the involvement is so significant that they play a major role even in the decision making process of Bitcoin and forming its future technology and direction,due to China has always been a major player in Bitcoin.

[znakistu]

Yes this is true. a specific reason is not indicated, on which the work of the miners ceases, an order that has already been executed is simply issued. the closure of mining in China can seriously affect the market of bitcoins, since it is there that 80% of the world's mining capacities are concentrated.

[whoisyourking]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Please give us more information a bout the news please provide us a link where did you get this information. China is one who banned bitcoin worldwide, but i read a topic here that china ate developing their own blockchain so they dont want any other coin to their country they are developing their own coins.

[Elachious12]

Base on information I got from a reliable source China does not have any plans of closing down Bitcoin, it was just a FUD, I see no reason why they should do that

[jackjones53]

Yes this is true. in Beijing believe that miners consume too much electricity and create financial risks. However, such a tough measure can carry a serious threat to mining, as 80% of all capacities in the world are concentrated in China.

[HatakeKakashi]

China already banned bitcoin and It's not suprising if they stop or closing also the bitcoin mining to their country. But I don't know the reason why the bitcoin is not accepted to their country. I think the people who behind this is the government because they did not get taxes so they need to ban bitcoin even they have people who earn money.

[glongsword]

Mining in China consumes too much electricity, so it was decided to stop it, but not to liquidate it completely, but simply to remove it from the territory. At the moment, Chinese miners are in search of locations with cheap electricity and a cool climate, in which the equipment will not overheat. As the most advantageous from this point of view, the Financial Times names Canada, Iceland, Eastern Europe and Russia.

[aryaadikariyansyahsuwarto]

confused with the country, they legalize bitcoin, but prohibit bitcoin mining ..

[yuni52]

I think, bitcoin will keep growing even though many countries forbid, maybe this is unpleasant news should a country like china support the success of btc because of course this will help a lot of the economy, hopefully it's just bad news that will drop the bitcoin

[Cynthia Andradee]

According to documents leaked by local governments, China intends to enforce a ban on Bitcoin mining, forcing the mines to stop operating.
It is unclear whether this is a ban on Bitcoin mining or simply the closure of the largest mining farms. But after banning operations in the crypto and ICO markets, China appears to be moving toward a full cut off of Bitcoin-related activities.

[jpespa]

I don't think china will close it actually because this is profit. Maybe this is just fake news. If it is real then it will really hit bitcoin hard because large population on bitcoin community wi be gone.

[cryptossan]

can we really trust Chinese government not to change their mind?

They pretty well can do it themselves, the Chinese are not very consistent in their decisions. However even discussions of the topic can contribute to Bitcoin price volatility

[IamKnowledge]

China closing their bitcoin mining does not seem very good news. However, whether they close it not will have very little impact on the pricing and develpoment of bitcoins at a whole. This because several other individual and countries other than these chinese are all invoved in the bitcoin mining business.

[genlocy]

I don’t think so that it will happen. But if this happen then those who are holding bitcoin will be profitable, as I think. But I pray for not to happen this.

[SistaFista]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

If cryptocurrency price falling too far in the market, then not only china but most of the miners will close their mining activities because they won't get any profit from mining. The mining earnings will not cover the equipment and electricity cost. But what you said really true about china, then bitcoin difficulty may falling down drastically. Recently there was a flood in china and their mining rigs were damaged, bitcoin difficulty decreased very much.

[Bitfling]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

If cryptocurrency price falling too far in the market, then not only china but most of the miners will close their mining activities because they won't get any profit from mining. The mining earnings will not cover the equipment and electricity cost. But what you said really true about china, then bitcoin difficulty may falling down drastically. Recently there was a flood in china and their mining rigs were damaged, bitcoin difficulty decreased very much.

Indeed, miner should calculating their cost with bitcoin price. If bitcoin price drop too cheap, no one miner interesting on bitcoin not only china. I dont believe china will ban bitcoin mining because china is one biggest market in cryptocurrency

[loveaspirations1552000@gm]

China had a lot of similar plans and changed it in the last minute. It is difficult to understand what the Chinese are thinking. It made me lose my confidence in their decisions

[Glorypaasa]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

this is another fud dont be scared guys we will see a big dump but buy more after a big disaster and dont panic to sell or you will regret if you sell it just follow the flow because china is the one of t he powerful couintry that can control or manipulate the value of all cryptocurrency so all we need is to have a faith.

[kirkarsedat]

eventually one by one the country will do that, it could be the beginning of the extinction of bitcoin, because maybe other countries will follow in the footsteps of china. but it's still news, not sure .. we'll see the future .

[Wind_FURY]

What would China plan to do with their excess electricity now? I believe many of you do not understand that once electrcity is generated, it should be used or it will be WASTED because it cannot be stored. Then any electricity generated that is used by the miners really saved it from being WASTED.

The people who say that "Bitcoin mining is a waste of electricity" are wrong and misinformed.

[greengate01]

can we really trust Chinese government not to change their mind?

This is really a bad news for all Chinese people if China will closed mining.Mining helps many people in China for them to earn money.China government should review this.

[olalaMaty]

This agency has warned the floors may be closed if serious violations of the regulations that are related information in 2017 countries have given Bitcoin does not belong to a country it is the currency that the world can own

[Abete]

I think what chinese do like is the issue that will raise the price on the market, and every individual and market player will be interested in their mining again. but all that they could have done.

[qiman]

Weill if they close the doors to Bitcoin mining then other countries with cheaper electricity costs will take over. I guess already the Chinese made plenty of money mining in the early stages and do not find it any longer very profitable to mine Bitcoin anymore so they want to pass this job onto others who might want to do this in the near future. Good luck to them if that is what they want. I am sure they will find new ways now to skin the digital currency cat and mainly they will promote their own blockchains like NEO and VEN and just dump Bitcoin which is a shame really as it is the grandfather of all cryptos.

[darkangelosme]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Bitcoin is not relying on china only, so if china will gonna do that it will be there Lost on crypto aspect, there are so many countries that can mine Bitcoin securely and legally.

[De4ted]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

 Most of miner in the world is Chinese and it cause unemployment in the economic, i think chinese government wouldn't want that

[indayburakday012]

Well it is just speculation and no article has been posted then this could be one of the FUD's. I do consider FUDster's post if there are no articles to support the claim. Common market price fall down has already done and no way market price could fall again. We should consider to get a market price increase in the next few weeks or months.

[Pamadar]

What would China plan to do with their excess electricity now? I believe many of you do not understand that once electrcity is generated, it should be used or it will be WASTED because it cannot be stored. Then any electricity generated that is used by the miners really saved it from being WASTED.

The people who say that "Bitcoin mining is a waste of electricity" are wrong and misinformed.

They just don't spend time to read and gather those information, for sure china have other things in mind in terms of crypto they wouldn't bother to do things that will benefits them, knowing how they played with the market are really needed to take it seriously, as china really understand how to make
more money out from their investment, just like what you have said, they will maximized the potentials since it is a spare electricity they would do things that can generate more extra funding.

[kukurikapu]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Though the country of China is one of the largest, i think this news has a little effect on on the whole world of cryptocurrency. But mining is one of its biggest source of economic income so i think they will not really do that.

[basyang]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Is it true? I did not heard any news about it. Or its just a fake news?. Well, I do not think if the price is really below the ground if this thing happened. But I know China is already accepting bitcoin and just like Japan they are using it. And do not think China will banned bitcoin because I know they are really know how to use it in many purposes.

[bitcoinVPSD]

This can increase the value of bitcoin. We know that the current to exploit bitcoin takes a lot of energy. If China builds more bitcoin plants, they will push the value of bitcoin up so they get back what they have invested in bitcoin plants.

[dewildance]

This will be the beginning of the biggest troubles in the coming period. I hope that not only a country like China will do this kind of practice.

[icecream sandwich]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

No offense but china has been negative to bitcoins in the first place since I knee bitcoins they are always a china and bitcoins topic in this thing. It seems like they do not give a lot of priorities into cryptocurrency at all they do not care if that will crash or not because their country are independent enough to be stable even without the help of the bitcoins but I cant blame them they are just doing what is the best in their country

[ACHANCE]

government should legalize  crypto  because of public interest
many people loosing money in stock market in day trading
government why not ban this

[Thecryptocurrency09]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

We are all aware about the huge factor of China in thr name of bitcoin. I can almost say that tere have a very great role in thr influence of bitcoin. And as time pass by, it is always been a talk that China is a country bitcoin can lean for and now saying such thing may be a lost in both partiea therefore prevent from this possible scenario may rise.

[kiemponxs]

I think everyone already knows this issue since January.and I think since China government ban ico then following by ban crypto exchange and crypto itself.no more news from China can bring offense to market.

yes I agree with you, despite the many bad news from china I am sure now will not have any effect on the crypto market, although now the market is low but it's not because of bad news from china.

[Getcoinsite]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Shit Chinese government,why not just let them do what they wanna do and lets stop making news about them.because they only making this market shake everytime new update coming from this country in which we dont care because since the time they banned bitcoin we still survive so why care about they're concerns

[DaryaDancova]

I think that the Chinese government will change its decision many times and eventually everyone will come to some compromise. Major miners simply will not give up this type of activity.

[biskitop]

this will worry some people. because if china announces it will shut down minco bitcoin and they explain also the reason they closed it, it is not impossible other countries will also be affected.

[angelinedelatorre]

If china closed the bitcoin mining in their country I think it cannot affect us because there is still other country that support the crypto world. I don't want to hear news about china they always make bitcoin down.

[bluemoon84]

Yes , I think the impact of this bitcoin mining ban in China will also puncture the transaction time, causing increased fees to be paid to transfer bitcoin. This could negatively affect the value.Because they can change their minds at any time. In the past, China has vowed to ban ICO investment activities, blocking all Bitcoin and ICO ads aimed at minimizing fraudulent activities. Now, China plans to start exploiting bitcoin.

[Falmera]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

It will affect cryptocurrency. This causes a decrease in the value of crypto coins. This news really affects all of us  investors, ou r feelings towards crypto currency.

[redhorsebeer1980]

can we really trust Chinese government not to change their mind?

China should not closed the mining in their country because there are many people who rely and needd the mining in their daily needs.I hope this will not happening to China.Bitcoin mining brings a big help to a country.

[Donotfoolme]

Do not worry guys ban does not affect the market,  the market will continue trend. Just keep on touch sometimes i dont care about others news of what will happen or what is happening right now,  i just focus how and monitor about the price of the coin.

[airdnasxela]

Where does this news come from? I mean it is hard to trust some of the statements here in the forum specially those who don't have their sources. Well,  it it is true,  it will make I think a notieceable effect to all the cryptocurrency users but I think it will not be a major problem. There are two things why I have said that.  First is that even though they close bitcoin mining, there are many ways here in bitcoin for us to use it. Another thing is that even they banned, they wouldn't have tracked more if you are in a far place from the city.

[King_Linda]

I would not worry too much about China being the first and not the last to ban and will ban the production of bitcoin. The strong weakening of bitcoin will not give it, be calm.

[bryant.coleman]

This is not very practical. China is home to a number of firms, which produce the hardware needed for Bitcoin mining. And a large part of the profit for these firms come from mining coins using the rigs which are waiting to be shipped to the customers.

[bitcoinman93]

it feels like china is harming bitcoin over and over again. But it's not the problem at all as it's up to all people to give the options to bitcoin users in china. Bitcoin is pen source software, chinese can use use it

[thenxinhang89]

I would like to ask: this decision of the Chinese government has a great impact on the bitmain, the world's largest Bitcoin exploited factory in China?

[Sam San]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

China has used blockchain technology and uses it. Chinese pools have not disappeared, but they are preparing to just go to the next level.

[maxti]

The relationship between China and the cryptocurrency is in general a separate topic. At one time he i studied a huge amount of materials to predict the future of the crypt in China

[Wind_FURY]

What would China plan to do with their excess electricity now? I believe many of you do not understand that once electrcity is generated, it should be used or it will be WASTED because it cannot be stored. Then any electricity generated that is used by the miners really saved it from being WASTED.

The people who say that "Bitcoin mining is a waste of electricity" are wrong and misinformed.

They just don't spend time to read and gather those information, for sure china have other things in mind in terms of crypto they wouldn't bother to do things that will benefits them, knowing how they played with the market are really needed to take it seriously,

I believe the Chinese government and the PBOC are carefully putting the needed regulatory infrastructure in place before they open up fully to cryptocurrencies. It took their country hundreds of years to open their economy to the world, so it might take them longer than expected to open their economy to Bitcoin again.

as china really understand how to make more money out from their investment, just like what you have said, they will maximized the potentials since it is a spare electricity they would do things that can generate more extra funding.

But they are pushing miners out of their country. They want to clear their country from Bitcoin and altcoins until they are certain they won't disrupt their financial system.

[avoxosuccesful]

If cryptocurrency price falling too far in the market, then not only china but most of the miners will close their mining activities because they won't get any profit from mining. The mining earnings will not cover the equipment and electricity cost. But what you said really true about china, then bitcoin difficulty may falling down drastically. Recently there was a flood in china and their mining rigs were damaged, bitcoin difficulty decreased very much. with china closing the bitcoin miners i dnt knw hw transaction is going to be easy this days anymore.

[anam17]

This is not good  news to us after banning btc  to their country,  I hooe the country of china will accept again btc  and not banning and closing mining. Because btc  is goold opportunity to earn money and they can help to their economy I think to grow more.

[Alex_Kidd]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

In my opinion it would only be a good thing. I'm really tired of reading every week some news, usually bad, regarding Chinese government and the bitcoin, we can perfectly live and keep going without them. They don't want bitcoin? Ok, just ban it and that's it.

[nagobinga]

why should chinese really not like the existence of bitcoin or disturb the currency there or the government there does not approve it and I hope to establish a good relationship there with this bitcoin.

[Soots]

why should chinese really not like the existence of bitcoin or disturb the currency there or the government there does not approve it and I hope to establish a good relationship there with this bitcoin.

This really created a controversy over the current situation of bitcoin, which I think some strategies of their residents whom holding larger amounts of bitcoin. If their country leaders forcibly implement closure bitcoin mining operation, that would be a great opportunity for other countries to initiate their additional mining farms. This won't be a threat for us, but certainly a threat to Chinese mining operators.

[Cotton Candy]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

In the event that digital currency cost falling too far in the market, at that point china as well as a large portion of the excavators will close their mining exercises since they won't get any benefit from mining. The mining income won't cover the hardware and power cost. However, what you said extremely valid in regards to china, at that point bitcoin trouble may tumbling down definitely.

[romero121]

China should not come up with such a plan, because it'll affect the entire cryptocurrency network. China is one among the country where mining is found in large scale. From my understanding closing of mining could lead to increase in bitcoin demand causing price pumping as well it could cause things in the opposite manner. China being digitally grown has come up supporting digital growth. Possibly mining won't be closed in China.

[kimdungtruyen]

Events like this never start from day to day. Difficulties will go down. China is not the whole world. So a great deal of it really let them to sacrifice their electricity bills just for bitcoin.

[Otsu]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

If this will happen, surely it can affect to the price of bitcoins and probably it can increased the demand in the market. But it can also make the price to decreased because there are some people or holders will be afraid on this and possibly decide to sell their earnings.

[Wayan_Pedjeng]

I don't think that this is a very practical option. If China bans the mining, then the mining farms will be shifted to some other country, such as Mongolia or Russia. In the end, the government will lose out on tax revenue.

[tutorroma]

Although China's mining business accounts for more than 70% of the world's mining industry, these mines use idle electricity, which is helpful to China's foreign exchange earnings.

[Anna Whitee]

About 80% of miners based in the country are very interested in China's ban on bitcoin mining.
This is being done with measures such as tightening electricity prices, land use rights, environmental taxes, and more.
Although, China has a huge advantage in digging Ethereum, Bitcoin Cash, Zcash and many other types of coins due to the labor and electricity prices are quite cheap. However, this will soon end when the Chinese government is aiming to close the market.

[carlisle1]

can we really trust Chinese government not to change their mind?

No and never as they're stands changing from one to another

Consistency is far from them to reality so i think theyre just making some noise again as they are not getting any attention this days.what i wantyou to do OP is stop patronizing China and make your assignments here,dont bother asking about them since they dont wanted to be part of us

[Zaibraid]

I have heard about the Chinese issue that will close this mining access. But I'm not sure if everyone in China will obey this rule. I can be sure that many hidden people are secretly still doing bitcoin mining. Bitcoin mining offers fantastic benefits for those who can do it with a smart and correct strategy. This certainly makes everyone even crypto currency players from China do not want to miss this opportunity. I am sure if the willingness of people still strong to survive in crypto currency then the policy or regulation is not 100% meaningful.

[saLve88]

Well this is a very bad news for bitcoin because china is a major influencer on bitcoin. If china decide to close all bitcoin mining within their country it will drastically reduce transaction mining and whole bitcoin network will get congested as china is holding large percentage of bitcoin mining industry. But I don't think this will happen because there are lot of people who knows the value of bitcoin.

[Charles Warren]

If china bans BTC mining operations two things will happen for sure.

There will be a shortage and price will go up

After closing mining farms, value will increase but so will the transaction Times, and bottleneck effect will be much worse than it is now. So we will get a coin that has terrible transaction times, but also with more value. I wonder what will happen in long term after this. Some say Russia is planning to take Chinas place as major mining country, even though they have Siberia (great place for mining Very cold and very cheap electricity) That's unlikely, because In past couple decades Russia has not made any significant technological advancement in any field.

[Peter Bailey]

Not much will change, miners have already packed up shop and moved to USA / Canada, to areas where electricity is cheap. It will hurt their top line but that's about it.

[SventraPapere]

Mining of bitcoins - because of "consumption of a huge amount of electricity and heated speculation with virtual currencies". This may include, in particular, the direct restriction of the supply of electricity to miners. In China, almost 80% of the world's mining capacities are located, and their closure can seriously affect the market of bitcoins.

[rajuahmed763]

 

This isn't the first time we've heard FUD news coming from China. It's like they're deliberately spreading fear to stock up on cheap crypto.

Absolutely right this is not first FUD news. There are many news against bitcoin and cryptocurrency. But it affect just sometimes on the market. Bitcoin still going on his way. So, do not disapponted if you hear any bad news as like this.

[vaniy-stepanovich]

This news appears not the first time. This has already happened before. I think this is another manipulation of the market. I do not think that's possible. In China, most of the equipment for mining is being made. They do not benefit from this and the Chinese authorities will not take this step. I think that you can not worry about this.

[saycryptohello]

Recently, a lot of negative news is coming from China, maybe they are doing manipulation in the market in this way ..

[jigsaw97]

Mining of bitcoins - because of "consumption of a huge amount of electricity and heated speculation with virtual currencies". This may include, in particular, the direct restriction of the supply of electricity to miners. In China, almost 80% of the world's mining capacities are located, and their closure can seriously affect the market of bitcoins.

true there could be a lot of currency also that are may affect if this may ever be happen , well we cant blame them they re having own decision and opinion for why is it can be happen and why they have to.

[Veterock]

I think, that it won't has involve on the price of bitcoin, because it's not a news for miners)

[robotrobert]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

This has little impact on Bitcoin as large Bitcoin mining companies are now shipping to colder, low-cost countries. And most of these countries accept Bitcoins and Crypto. Do not worry too much because the ban does not affect the market and the market continues to trend up.

I have heard 5 countries banning, but it shows that Bitcoin was not affected at all, maybe since China, SoKor, social media, or other bigger names that are influentially affect bitcoin before were all done that bitcoin is capable on moving still.

Well no one knows what is to come, its July now and the price is rising it has just touched 6.8k dollar mark and increasing more day by day, well whatever be it if its increasing its profit for every investors and not only bitcoin other alt coins can also increase due to this and yeah no one knows where it will end up to so let’s wait till it keeps on rising and keep our fingers crossed for more profit.

[marsmyname]

I think the impact of this bitcoin mining ban in China will also puncture the transaction time, causing increased fees to be paid to transfer bitcoin. This could negatively affect the value, as it would make cryptocurrency less practical as an alternative to the normal currency.

Bitcoin currency could never really replace the normal currency even in its peak time, due to such a volatile rate of bitcoin, users around the world see it more as an investment rather than an asset or currency and hence it failed to achieve the tag of digital currency rather it is now just a digital investment where investors are attracted daily to make huge profits.

[prtty2gal2]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

If china closes their rigs of bitcoin mining then I suppose the prices will rocket up again to 15k ish dollars cause the supply will become lesser then demand and hence the prices will sky rocket again.

Well you never know it can fall too, for bitcoin investors its really the time to brace themselves for a vortex of price changes but at the end I guess it will be all sunny with high profits for all due to the price rise I am expecting to happen if the rigs are closed.

[TheGreatPython]

can we really trust Chinese government not to change their mind?

Chinese govt might or might not change their mind but if they do then the prices will be as stable as they are now but if they don’t there will be a sudden disturbance in the market and the supply to demand ratio might be affected and the prices can either rocket high or they may plunge back to 2k dollar mark, No one really knows what is to come so it will be better to keep fingers crossed and pray for the rise.

[thirdkiller]

Every government are doing what you want about Bitcoin. But my personal mind about it, people must do what they want, why somebody know better about what's wishes of the people. If somebody want to mine bitcoin he can do it.

[Sema1984]

You created your post on the 8th of January. As you can see nothing happened and I think we won't see any changes in the nearest future

[solenn heussaff]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I think China should not close bitcoin mining because that is one way to earn a free bitcoin and many people is mining bitcoin so if they close mining many people will lose money and they find other cryptocurrency that has mining.

[hessanseen]

If the Chinese government shuts down the mining business, the miners will immediately enter other countries and have good electricity supply in North America and South America, and I hear that it costs only 570 dollars to collect a bitcoin at the Sara.

[amirmass]

China does not have to be that strict. They support Blockchain technology. They can support the crypto in the same way. They can do it with the necessary legal regulations.

[Snaic]

China in general has developed a two-year program to completely ban decentralized crypto currency in its territory. In this regard, it turns out, they will try to isolate themselves from the rest of the world. It is unlikely that they, of course, will succeed, but they plan to close all the sites that somehow will be connected with the crypto currency. Apparently, they, as always, are trying to find their own way of using crypto currency in their national interests. Well, let them try. However, they risk falling behind the world's progress in the field of crypto-currency.

[Undermood]

China is already a country with a stance against crypto. It's pointless that you still have more crypto stuff. It will not be done there anymore in mining. Chinese attitude is clear.

[Xorobar]

I don't think China will close bitcoin mining. The equipment belongs to large players who work for the future. But if China closes mining, a wave of panic will start.

[liseff3]

What can you say about China of closing their rigs/mining?

Nothing strange to their rules, since November 9, 2017 and then they often issued a statement beyond expectations.

This could overshoot the price to the moon or plunge the price below the ground?

Not for both, but will make the market move slowly to grow even tends to stagnate. As we know China previously is including a country with a very large number of miners, then any policy made by his government, the impact will certainly be felt by all users of cryptocurrency especially bitcoin.

[frankiemalton]

Some of China’s mining operations are already looking to relocate overseas, but the process will take time and will inevitably lead to lower margin since electricity prices outside China are much higher.

[Nevsky]

I do not believe in that. China is very cunning. How can China refuse the mining of Bitcoin if they took the top position in extracting the main currency. Moreover, China is one of the main countries that have a significant impact on the entire crypto industry. Therefore, less believe the people who talk about it. China is the main engine of the crypto currency. Just like the US, South Korea.

[furry04]

if China makes such a move than the mining companies would move their mining sections which are worth maybe millions of dollars to some other crypto friendly country and that country would make money from them.

[PeRo]

Those are fake news, China is nit closing anything, why would they? And jf they wanted to, they couldn't really forbid mining for everyone, some people would still mine. If that ever happened it would surely leave a negative effect on the market, the price would probably drop, fortunately it isn't going to happen.

[Caxton10]

In China, bitcoin mining consumes a lot of energy and the Chinese government is concerned about the problem. They fear that bitcoin digging will affect their energy.

Well they fear right. Energy is an important thing in the development of a country's economy and if mining bitcoin affects that then they ought to make that decision to stop mining.

[bidadari22_]

In my opinion,it is hard to believe some of the statements here in the forum especially those who do not have their source. Well, that's true, it will make me think that effect is important for all users of cryptocurrency but I think it will not be a big problem.There are two reasons why I say that.First is that even though they close bitcoin mining,there are many ways here in bitcoin for us to use it. Another thing is that even they are banned,

[DrGuns4Hands]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

China had already closed their market to cryptos and btc and what should we expect coming from them; that they will open for us!
 
China for the past years banned bitcoin because it is this technology that will end up the traditional businesses within their country. There are many Chinese investors who wanted to enter the world of cryptocurrency and the first gen – bitcoin, most of them invested in BTC. The Chinese government never wants to disrupt their businesses with such Ponzi scheme they believed.

[thirdkiller]

China is a country where freedom is not a guaranteed issue. Therefore, all government actions contrary to bitcoin and other crypto are normal for a centralizing country and do not admit decentralization

I agree with you because Tina has special laws for the people living there. If the government decide to close the mining of Bitcoin people except this. They still believe in their government.

[Vanes_brz]

That's the news of course.. They have the most farms are.. let's hope that the price will fly up not otherwise)

[jojohamasa]

Most mining companies are fleeing from warm to cold countries
Mining companies are growing and becoming large
I think prices will not change much
do not worry

[angelramirez24]

Is there any official news about this? i think these are just rumors and nothing more.

[GeorgiyBilyk]

Very many interesting opinions on this matter! but my opinion is that the Chinese only make themselves worse! a few years ago, China was the first in the development of the crypto world! And now, due to incomprehensible laws, big players, big miners, large projects - are starting to leave for other countries, where doors are open for them! The number of bitcoins will not decrease because of this, and the price will not be affected by these changes! But China will lose its leading role in the development of the crypto market!

[oanhtrang1523584@gmail.co]

China is a country with the most policies with Bitcoin. It is difficult to understand what they are thinking. They are prohibited from purchasing ICO in some projects

[macdevil007]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

It was been planned and announced few more months ago but still there is a large pool in china when it comes to crypto mining. and some are putting it or operate on a very rural or undisclosed location.. Well it should have a negative infact on most of blockchain not only in Bitcoin if that totally happen. because almost 30 to 50% of pools came from china.

[crowdfarmx]

This does not mean mining activity will reduced. Mining can operate in other part of the world, it doesn't necessarily be in China. The one that will hamper the growth is actually trading ban or OTC ban

[Igromania]

I think this is fake news and China will not close anything. China is a developing country and they understand that if you ban the mining of bitcoin, it will not benefit anyone.

[Marlo Stanfield]

Very many interesting opinions on this matter! but my opinion is that the Chinese only make themselves worse! a few years ago, China was the first in the development of the crypto world! And now, due to incomprehensible laws, big players, big miners, large projects - are starting to leave for other countries, where doors are open for them! The number of bitcoins will not decrease because of this, and the price will not be affected by these changes! But China will lose its leading role in the development of the crypto market!

I mean it's good for them, and I'm sure lots of Chinese business people and such have made themselves rich from this. But the rest of the world is the one that got stuck with Chinese monopolies on producing mining ASICs and a semi-monopoly on mining itself. I don't think that was very good for decentralization at all.

[aleksej.rozhkov]

I do not understand China's policy at all! why do they constantly introduce some kind of prohibitions? !!! They must understand that the biktoin and the whole system is the future! Crypto currency has given life to so many projects! And I also gave a very powerful jolt of world information technology!

[dhanushilakshani]

I think the effect of this bitcoin mining boycott in China will likewise cut the exchange time, making expanded charges be paid to exchange bitcoin. This could adversely influence the esteem, as it would make digital currency less down to earth as an other option to the typical cash.

[Derizo]

Economicaly China is among top of the world. They plans to close bitcoin as it is not well secure, and internationally do not have much value. International trade is mainly in euro and dollars. All the prices of oil and other products are in flat currency.

[hohuan101]

In China, bitcoin mining consumes a lot of energy and the Chinese government is concerned about the problem. They fear that bitcoin digging will affect their energy.

Well they fear right. Energy is an important thing in the development of a country's economy and if mining bitcoin affects that then they ought to make that decision to stop mining.

Yes, it can be detrimental to many people. But national energy is also a very interesting thing, they choose so completely accurate. Mining is very energy consuming ...

[jmvzlfyg]

This is not true news that many of my friends in China are mining in the western part of the country and some are planning to invest more.

[Ortintin1]

Bt why are they clamping down on bitcoin

[gordeevaverona]

This is a very wrong decision! All Chinese prohibitions will not lead to anything good ..... China itself must understand that a new era has come, and a new digital revolution has come! Now a lot of countries are opening their doors to the entire crypto market! A very large number of miners began to move to other countries, where a more pleasant environment for the formation and extraction! China begins to lose its position in the development of the crypto industry! Now those countries that refuse to support and develop the technology of Blochkchain will remain behind the 21st century! Such countries will have to catch up with the entire Information New World Economy for a very long time! Already today, China no longer occupies a leading position in the crypt world! Sharp prohibitions can only harm those who enter these prohibitions! Already many countries have open doors for the crypto market, and all the miners have rushed there! Such a move can not very much affect the entire crypto system! In China, a lot of interesting projects with interesting products, they will have to move to other places! For example, today India has appointed a meeting and a meeting on September 11! At this meeting they will discuss the removal of restrictions in the creep market! This is the right step, India understands all the consequences of debt bans! Especially India is one of many countries where there are a lot of good projects! India does not want to lose such projects from its economy!

[Wayan_Pedjeng]

The Chinese officials will live to regret this decision and I have very strong suspicion that the Russians will be overjoyed at this news. If this is actually going to happen, then the majority of the hash-power will move to Russia.

[cetald]

There were many such statements from different governments. In fact, it has always been not about a ban, but about regulation. This news is always misinterpreted.

[bapetdik]

It seems nowadays chinese try hard to turn off bitcoin. In the sense that bitcoin does not want to continue to exist in china. So they closed the bitcoin mining there. It looks like bitcoin is now too strong and hard to resist. That's just my opinion. Because I see the trip that is on bitcoin.

[MrRiuss]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

i think this is a good news from bad news. the good news is that the competition to mine bitcoin become bigger 

[copperton]

We can't trust on chines government because they are business minded peoples and they never do this kind of thing. china always show their two color for the world, if this happen then this situation not create much problems for bitcoin and its transactions but i am sure china will not do because they also like blockchain technology and planing to launch their own cryptocurrency so how they can close mining because they need miners for their cryptocurrency

[bitcoinposts]

no country anywhere in the world can stop mining even though mining illegal in some countries still they mine bitcoin and other crypto currencies

[irinna]

 I guess already the Chinese made plenty of money mining in the early stages and do not find it any longer very profitable to mine Bitcoin anymore so they want to pass this job onto others who might want to do this in the near future. Good luck to them if that is what they want. I am sure they will find new ways now to skin the digital currency cat and mainly they will promote their own blockchains like NEO and VEN and just dump Bitcoin which is a shame really as it is the grandfather of all cryptos.

[GreenProfit]

Bitcoin is created to survive so dont worry bitcoin price will go down for a little and later after short time it go up again and everything is back to normal,dont worry they are other companies in world which are mining bitcoin more and more often so bitcoin will not die 

[SoloMoney]

In China, there are the largest crypto currency farms in the world, so even if the state is against the crypto currency, no one will simply stop dealing with crypto currency. At the price of most tokens, this of course can say, but in the long run, everything should be fine.

[yugyug]

In my humble opinion i think Chinese government are planning to shutdown bitcoin mining operation in their location is mainly because of the environmental concern as we all know that bitcoin mining consumes a lot of electrical power and that's why on their latest ranking Bitcoin was out on the top 15 cryptocuency list, reference source from ccn.com https://www.ccn.com/eos-leads-chinas-blockchain-rankings-again-bitcoin-still-out-of-top-15/  as they prioritize on energy efficient blockchain like EOS.

[Nick Abimanyu]

Not surprisingly 'with this one country, the prerogative of its government is often contrary to the general rules of other countries, China always does not want other currencies or any products coming from other countries to progress, both in the real world and the virtual world including cryptomarket, for example China will never buy/use products from other countries, no matter how China should be able to sell its products to other countries, that's the way of their trade politics so this country can become the king of the world market as it's today. I think the principle of their government more stubborn wants his own victory.

[thepers0n]

I think Chinese government shouldn't ban it  because around 80% of bitcoins (BTC) being mined and traded in China, the Chinese government will have a major influence over the market.

[millgates]

Why many bad news come out when bitcoin price begin to rise? Omg. Actually minning bitcoin will give more wealth to Chinese people. No negative thing in bitcoin mining, bitcoin minner doesn't take wealth inside country to outside country even its add more wealth inside country.

[audrey.audrey11]

we can not trust China, they may change their opinion at any time. Just listen

[jmvzlfyg]

Perhaps it's just some tightening up, and there's no need to worry too much that China's mining business has been stable.

[jmvzlfyg]

Perhaps it's just some tightening up, and there's no need to worry too much that China's mining business has been stable.

[mattbellme]

China will do what they will do, bitcoin will still be here whether China allows it or not

Mining companies will just move if they ban mining

[VK.point]

even I do not understand why china closes bitcoin mining. hopefully not followed by other countries. and not really happening.
 

[ExtremeFacials.com]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

China should not make such a plan, as it will affect the whole network of crypt-exchange system. China is one of the countries where extraction is found on a large scale. In my understanding, the closure of property extraction can lead to an increase in demand for bitcoins, which will lead to higher prices, and can cause things in reverse order.

[Raggie]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I don't think it will really happening. If china close their mining activity, bitcoin price will be dump because they will become easy to mine due the dropping difficulty. This is because there are many miners from china mining bitcoin currently. Do you have any sources supporting this news ?

[Verde_Mantis]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Why don't they just do it and then get out of bitcoin forever? I'm so so tired of reading about China and bitcoin here, China and bitcoin there... They don't want them? Ok, no problem, there are other 200 countries in the world, we can live anyway.

[Almirante3]

China accounts for more than two-thirds of the world's processing power devoted to Bitcoin mining. It is also home to some of the world's leading developers of mining hardware, which usually also operate large mining pools.

[Leyss]

From China, there are very peculiar news. Recently announced the existence of a two-year program to completely ban decentralized crypto currency. Then stopping the production of bitcoins may well correspond to such a decision.
At the same time, China now has the largest number of patents for the introduction of blockchein technology. What does it say? In China, the advanced technology blockchein is very actively introduced, as for the crypto currency, there they are looking for their own solutions to this issue, but they are not going to recognize their own crypto currency. They will not refuse at all from crypto currency, but only try to create all their own. They try to avoid all other countries in the issue of crypto currency. Well, let's see what they can do.

[kucritt]

we all know that china has the biggest bitcoin mining, if they close that bitcoin mining the price of bitcoin will stable because there are only people that mining with big rig like china, so the market demand and the stock is not overloaded it just my opinion about it

[Almirante3]

Some of China's largest Bitcoin miners are already moving their operations overseas, with the US and Canada among the most popular options. But even so, the big miners have doubts about the effectiveness of state repression: on the one hand, local governments have strong incentives to keep large mining companies in their localities, given the huge tax and electricity rates pay.

[angchosenone]

This has little effect on Bitcoin as vast Bitcoin mining organizations are currently delivering to colder, ease nations. Also, the greater part of these nations acknowledge Bitcoins and Crypto. Try not to stress excessively on the grounds that the boycott does not influence the market and the market keeps on slanting up.

[taeewo]

They have largest mining farm in the world and hope this wont have negative effects on the price of bitcoin.

[DenSamui]

A lot of different similar plans were in China and as a result, almost all these plans were eventually changed. It is difficult to understand what the Chinese have in mind.

[rickyNmorty]

I think it impossible because Most of miner in the world is Chinese and it cause unemployment in the economic,Government don't want it

As far as I know there is a criteria for having the number or the percentage of those who are unemployed to those who can nlt work at the same time to those peopl who did not want to work. But going back to the topic, this might really not affect bitcoin big time, because as we all know the conflict between bitcoin and China happens a long time ago therefore, bitcoin already did adjustment on what China can bring. Therefore there is nothing to be afraid of, it is not bitcoin's loss but China's.

[mbenga]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

China has no good purpose for bitcoin, they want to dominate on the bitcoin market, but their greedy makes the bitcoin market out of control. But, we assume that Chinese mining has a major influence on bitcoin stability.

[stayeduptolate]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

We all are aware with this fact that the ups and downs are very common in every kind of investment and we all know that bitcoin has been in very much of controversy about its legalisation and in the mean time , the conditions improve and many countries legalised bitcoin but still there are many more countries who are in completely against of bitcoin and now the China who is thinking of banning bitcoin mining in their nation, for them all we need to do is to create awareness as much as possible regarding bitcoin.

[hometester]

I believe that such closure of mining companies are temporary. it's such a big business, which is abandoned only by force

[stephen_fortune]

I think China's just making threats again to keep their people quiet. If they do ban it, the people will find another way regardless.

There's always another place looking to bring in the miners, whether it's up north or somewhere cheap. I think that they'd also want to look for somewhere with a fast connection speed. Doesn't google have data farms out in Iceland? That might explain why google drive is so slow sometimes, the data has to cross the ocean and back!

But with coin mining becoming less profitable, it might be hard to find a suitable solution. Unless the lightening network has a better alternative...

[BorisVirla]

This will never happen.  The Chinese know the reason for investments, they know what to put.

[jayveerastrullo]

China knows that bitcoin is dying right now. China plans closing bitcoin mining because they were done with mining. Many Chinese became rich because of it and now they do not want others to benefit from bitcoin so they planning to close it now.

[Malam90]

From the beginning of 2018, we are hearing many false news about Bitcoin. Most of the news are related to Chaina. Chaina is a big fator in Crypto-currency market. Recently mining is not profitable for its cost exceeding current price.

[samsul1234]

I just found out about this news in china, hopefully BTC is strong de future

[fianaindriati]

From the beginning of 2018, we are hearing many false news about Bitcoin. Most of the news are related to Chaina. Chaina is a big fator in Crypto-currency market. Recently mining is not profitable for its cost exceeding current price.

the bad news is always coming from china country. because until now china always hang bitcoin, that is sometimes agree and sometimes disagree. with news like this, resulting in the mining market being destroyed

[bananaohnana]

For me I think the impact of this bitcoin mining ban in China will also puncture the transaction time, causing increased fees to be paid to transfer bitcoin. This could negatively affect the value, as it would make cryptocurrency less practical as an alternative to the normal currency.

[sergiom]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

The price of oil grows up as the reason for that. Because there are many people who try and use mining, as a method to earn. So if China really closed that window price will be better and more people will add to mining.

[BestRate]

This is impossible. Crypto mining still very profitable, so no one interested in any kind of prohibitions.

[muratdur]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I do not think that this news is real. But if it is that decision will be not good for real people. China should better increase some taxes for mining and allow people mine in the future. It will better for everyone.

[MNDan]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I don't think that this news I will be true in the future. Generally, China is very great country with its own view about cryptocurrency. Even if they will close my name people will find a way to do it. Because people are smart and want to earn for themselves.

[stephen_fortune]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I don't think that this news I will be true in the future. Generally, China is very great country with its own view about cryptocurrency. Even if they will close my name people will find a way to do it. Because people are smart and want to earn for themselves.

Yeah you know what'll probably happen is the government will establish a crypto division of their cyber police who actively hunt and tax the piss out of all the miners in China. Then they will start creating firewalls of their own to hide behind and we'll be having crypto firewall wars. Fuck third world war, the future is virtual.

But yeah, Chinese people are usually pretty smart at outsmarting their government and finding ways to make money. They're also really good at getting money out of that country. So it'll happen, on way or another.

[Gurueconom]

If the Chinese government completely prohibits the production of crypto currency, then people will simply transfer their miners to other countries and nothing terrible will happen, so you should not worry. At a price, this will not be reflected much.

[axemelada]

China has a very strict law. And counterfeiters are likely to take advantage of this opportunity in full. Since the number of the population is huge. It will be difficult to track the exact routes of the fake coins. China itself is a huge market, the loss of this partner in the Bitcoin market will lead to not very pleasant consequences.

[zander09]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I don't think that this news I will be true in the future. Generally, China is very great country with its own view about cryptocurrency. Even if they will close my name people will find a way to do it. Because people are smart and want to earn for themselves.

Many people on China is business man and I think all they want is to get profit. In that way they can want bitcoin because they can see how to earn huge profit on bitcoin so I didn't see any reason for them to close mining.

[21BTC100ETH]

We have heard this several times from different countries. I don't think it will stand for long.

[aleksej.rozhkov]

I do not understand China? !! why do they put the stick in their wheels ? !!! why ban what now in all countries begin to legalize! those laws that were adopted, because of them already a lot of companies and miners left for other countries!

[tek_zoom]

I do not think China plans closing Bitcoin Mining. This may be the bitcoin rumors of Chinese speculators. Bitcoin is still a good choice for Chinese politicians. I think they will protect their rights and not let this happen.

[muneeb.zain]

This really an alarming situation for the bitcoin holders.Bitcoin can be affected by this.This can cause in the sudden jump to the peak in the price of the bitcoin  or it will be buried so it's hard to predict what would be the reaction of the bitcoin.

[xzxcoin]

just the fake News. we can't believe that. Maybe They are buy a lot at bottom price for BTC.

[NowLovebed]

I heard that China has flooded a lot of bitcoin mines due to floods in the last few days. They have suffered heavy losses. Due to the shortage of miners, we may have to increase our transfer fees recently.

[killerfrost]

China is moving toward closing its virtual bitcoin industry in the country due to concerns about its excess power and financial risks. This accurately reflects Beijing's assessment that virtual currency will not be a strategic sector.

[112_blockchain]

In my opinion, this is a rather stupid decision, which in consequence will undoubtedly entail the collapse of the market and a kind of rollback.

[nehemiah31]

Yes, because the government bodies have concern about energy usage. Bitcoin mining is estimated to use up to 4 gigawatts of electricity, that is equal to 3 nuclear reactors’ production levels.

[flowers5]

In the end if China bans Bitcoin I don't think anyone will care let alone Bitcoin.  It will keep moving forward with the rest of the world while the Chinese people fall victim to unjust government.  There are over a billion of you.  I wonder what it will take to spark a bout of freedom over there. 

[dimbaba]

It will be difficult to track the exact routes of the fake coins.They have suffered heavy losses.It will keep moving forward with the rest of the world while the Chinese people fall victim to unjust government.

[saumang2m]

I do not think China will close Bitcoin. Because China also has the address that if China will close Bitcoin. Then they will suffer from it.

[imToken]

There is one of the world's largest bitcoin mines in China. Its name is BITMAIN. I believe many people have heard of it, and we can see that it is alive now.So I think China does not really intend to close the Bitcoin mine，and it is very likely that China will re-recognize Bitcoin in the future.

[tiktak89]

Of course this will affect bitcoin, but without serious consequences. Still, there are many people in the world who are happy to mine bitcoins.

[drukoz2]

I hope that the Chinese government will reconsider its decision and will not interfere with the production of bitcoin in the territory of its country. Why hinder the development of technology?

[Saldom12]

Why is China doing such a bad thing, it makes me dislike China. Mining is one way to get bitcoin and if it is closed it will affect bitcoin.

[momoore1989]

This may be the bitcoin rumors of Chinese speculators. Bitcoin is still a good choice for Chinese politicians. I think they will protect their rights and not let this happen.

[Urbinklin]

Yeah, that's not good news. But I think it will not have a big impact on bitcoin, Yes, it will slow down the process of its production, but after a time it is compensated by production in other countries.

[Ahsan Aly]

China directly belongs to Japan form their business purpose. And Satoshi Nakamoto is from Japan. We know he's an anonymous person.
And this is quite a difficult step for China government. Their restriction on BTC mining will huge loss publically and they can't bear it. I think could be a false news.

[Sandijoee]

I am confused as to why China wants to do such a thing? Mining is one way of working to get bitcoin. If China manages to close bitcoin mining it will affect bitcoin status.

[Ace Amias]

If China has stopped their mining rigs so possibly the price will be go high as we know that more and more people are coming towards bitcoin and invest in bitcoin because bitcoin is totally 56% of cryptocurrency so when the quantity of bitcoin will decrease due to less mining which will result in high the price and price will shot to sky and maybe this time bitcoin reach to 20000$.

[aladlanie04]

i dont know it's truth or rumor  but only i know when thyphoon hit's province of china heavy floods the bitcoin mining setup is heavily damaged and due to floods also all the equipment is damaged .
but if china plans closing bitcoin mining maybe because of regulations or electricity or maybe not ready to accept crypto currency at the moment makes bitcoin more demand  if bitcoin availability is less  the price will surge high  it good advantage for the price up also.

[kolsernik]

As far as I know, China is systematically moving to bitcoin mining with the help of alternative energy sources.If the ban now really come into force then we will see the speed of transactions is very low.Some percentage of dissatisfied may refuse bitcoin.So that's not good news.

[As roma]

That's the news of course.. They have the most farms are.. let's hope that the price will fly up not otherwise)

I think In the past, China has vowed to ban ICO investment activities, block all Bitcoin and ICO advertisements aimed at minimizing fraudulent activities. Now, China plans to start exploiting bitcoin.
I don't really believe in China. Because they can change their minds anytime.

[muddy waters]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

If there is a gap, something will fill it, which means that if China closes its mining pools somebody will take their place very quickly.
Such a scenario could certainly affect the price of Bitcoin, though I'm not sure whether it will fall or rise.

[sino22]

I think if this happens this will have an impact on the price of bitcoin even though it won't be how much. Most of the well-known bitcoin mining companies turn to cold countries ... we don't need to worry about this

[seoincorporation]

If i'm not wrong china is the country with more miners, that could be a hard hit for the mining networks.



But we know how china work, if they get their miners blocked then they will send the miners to other country and for sure Russia want those making money machines 

[SventraPapere]

In China there are very strict laws.Don't know how they ever managed to put as many farms)))Mining complicated with each day,this should lead to higher prices.But in practice we see quite the opposite situation.I don't even know why.In General,the reasons for this are of course a lot without China enough.Belts fastened long ago and just enjoy the show.As always, we hope for the best.

[MoreMoneyHunt]

China can never eradicate Bitcoin mining completely looking at how the Bitcoin mining industry like BitMAIN is flourishing in China. Bitcoin will meet a new adoption trend in the whole of Asia which will be spearheaded by China some few years to come.

[mojo2208]

It seems to me that this will not happen. China as the center of Asia, is the largest coin miner, and bitcoin is no exception. Why should they close the booty?

[patimahsunda]

Will it really be done in China? I think the biggest miner is currently in China. If that happens it might make bitcoin miners worse. I think this is bad news. Hopefully the Chinese government is not serious about closing it.

[seven2smoke1]

Why is China doing such a bad thing, it makes me dislike China. Mining is one way to get bitcoin and if it is closed it will affect bitcoin.

Exactly, I don't know why China will do that, it will affect so much Bitcoin, as China population is very huge, so we will see clearly the affects when they close but Bitcoin mining. I hope that they consider that and change there decision about that because it always do some bad things that kill Bitcoin slowly.

[ivannalog814]

Even if China stops mining bitcoin it will mean that people around the world will be interested in it as there will be more reward for the block !

[tracy2233]

This cannnever be done especially in China. They are brain stromers and to stop working with the ongoing blockchain technology they cann’t even think of. Money makers will not easily let it go.

[cryptoalfs76]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Will if this news are true,i thinks in my own opinion there is a positive and negative impacts into the worlds of cryptocurrency,the positive impacts are maybe theres a big possibility that the foreign rig,or miners would cultivate more growth,because of shutdown of china miners investment but the negative impacts maybe the group of crypto country will be loosing one supporter  in digital firm and thats the chinese people.

[Bitbtc8]

Its not the first time about China try to close mining ,I think they will soon change there mind soon ,I'd wait till they actually close down bitcoin mining but until then I don't believe

[Anam313]

For me this can increase the value of Btc. We know that the current to exploit Btc takes a lot of energy. If China builds more Btc plants, they will push the value of Btc up so they get back what they have invested in Btc plants.

[Ahsan Aly]

Today I found the news which you are talking about. Actually, China didn't ban Bitcoin but there's another thing which they banned in their country.
China bans ICO's in their country. And this step could be effect individually.

[EEEian]

At the very worst all the China farms will move somewhere else. These are multimillion dollar companies with a ton of capital invested into hardware. They are not just going to fold, liquidate and stop mining. There may be a brief period of network bottlenecks as things shift around and re settle. The price might shoot up temporarily. But eventually things will calm and life will go in as normal.

[jakezyrus]

This cannnever be done especially in China. They are brain stromers and to stop working with the ongoing blockchain technology they cann’t even think of. Money makers will not easily let it go.

china is a verry strict country in the asia  so it not surprising if they will ever ban mining and infact china had ban ico's and crypto exchanges before if im not mistaken .  

i think this is a good news for most miners because the competition can now decline and as well as the difficulty in mining .  this isnt also a big loss and wont affect the cryptos too much because china didnt ban the crypto currencies .

[nagobinga]

Of course that is normal in China because they are very smart and reshape bitcoin to China with things that have been planned to include big people.

[Goodnuel]

If this is true, it will be a very huge blow for bitcoin and the cryptocurrency world at large... If that's the plan, I hope they have a change of mind in the time to come.. But what ever happens, bitcoin will eventually find its way...

[KingScorpio]

Of course that is normal in China because they are very smart and reshape bitcoin to China with things that have been planned to include big people.

what do you mean with "big people"

[rapsa2018]

In China, bitcoin mining consumes a lot of energy and the Chinese government is concerned about the problem. They fear that bitcoin digging will affect their energy.

There is also a huge possibility that you said that because of the huge power consumption to make money I think they have banned mining in their country and if this happens in other areas of the country they will continue.

[LigwagGanern]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I read some news about what you said. China did not totally ban bitcoin they ban ICO's and that is bad news too. Banning ICO's will affect people individually. Whatever happens hold your bitcoin and don't sell it when the price get low because it is just like throwing your money in the trashcan and put it again but the price is now the same. Some money were lost.

[ChaChaiTL]

Some sources claim that about 80% of miners based in the country are very concerned about whether the Beijing government is targeting them, just as they did for the crypto trading floors September or may be not.

[jhonxu]

Nobody will close mining or ban bitcoin trust me !

[MTNAX]

I think it's a bad idea, considering that bitcoin can be used for all of us and can benefit people who use it. I hope the Chinese government can change its mind and be able to accept bitcoin in the future, so that the people there can feel the benefits of bitcoin and get profit from bitcoin. I am sure if the Chinese government can accept bitcoin maybe the Chinese economy will be even better.

[Lazada]

In China, bitcoin mining consumes a lot of energy and the Chinese government is concerned about the problem. They fear that bitcoin digging will affect their energy.

There is also a huge possibility that you said that because of the huge power consumption to make money I think they have banned mining in their country and if this happens in other areas of the country they will continue.

Consumption of electrical energy is indeed a major problem, all hardware must run and require very large electrical energy. Naturally, the Chinese state is worried about this because it could be that the energy stock in China will experience a very significant decline phase. Especially energy issues which are currently increasingly difficult to obtain. Mining is indeed the main process for creating crypto, so this cannot be avoided. So therefore there must be a solution that can overcome it. Renewable energy like nuclear could be a good choice. Crypto cannot be stopped because crypto is a financial system in the future that must be fought for.

[Chachen19]

Does China intend to close the bitcoin ban? We will know the answer after China has made a formal decision for this. This is being done with measures such as tightening electricity prices for environmental protection

[alroys]

I remain optimistic about Bitcoin, even though China plans to close the Bitcoin mining RIG. China is indeed a big country and has a big influence on the world, but I'm sure Bitcoin will be able to continue to grow even without Chinese intervention.

[edsnowangel]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

what are the reason of china stopping their  rigs? any reference about this because this topic is completely missing some information

[Ayston]

Even if China closes and forbid their people to do Bitcoin Mining in the country they can send their machinery in other places by shipping and continue to mine, see-- people have their on ways of doing thing in the right way-- hahaha they never know how to surrender as long as there is a way

[xbossJ]

China is beginning to peace me off with this "I too know" stunts! quite annoying! Regardless however, no matter how hard they try; Somethings just can't be stopped! if they want their people to behave they need to make laws that favor them! Not being too harsh on ones efforts to survive! The chinese themselves don't even slow things down! give them a foot, they would want to take a yard! Quite unfortunate how cryptocurrencies are turning out because of these government efforts to control. its also sad how they just can't win they war but trying hard to destroy the market! I believe at a point they will give up. Till then, mining continues whether inside or outside china

[maskeffec]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

If China really tries to close down mining companies, it looks like bitcoin prices will rise because of the reduced number of people who mine Bitcoin or Bitcoin production becomes difficult and China can also try to close mining companies because the results are not so much in line with their efforts.

[Fred3030]

China always threaten to ban bitcoin and crypto. Year in year out their ban threats are always on the news. But Bitcoin always win as their threats has always been defeated by bitcoin.

[tuturutmunding]

hasn't that been the case for a long time? it will have a very bad effect on the price of a bitcoin of a country with a strong economy like China has antagonized and banned the use or mining of bitcoin and what will happen if so many countries ban bitcoin whether bitcoin will become extinct?

[XiXiMios]

This could negatively affect the value.Because they can change their minds at any time. In the past, China has vowed to ban ICO investment activities, blocking all Bitcoin and ICO ads aimed at minimizing fraudulent activities.

[Radio-Active]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Well, if bitcoin price keep going down, maybe it will really happening. But as long as the price of bitcoin not falling too much,
The btc miners in china will keep mining the coin. We can see it by the difficult of bitcoin mining.
There are many btc miners in china, if they stop mining btc, the difficulty of btc mining will drop drastically.

[PINAGPALA]

Is this true where can we know if this is legit where did you get this news if ever its was true. its a good news to the moon

[Heather Santos]

I think the government has changed this decision. Because, some months ago, I saw a chart which showed that China was the forth position. Although the result is not the best, the Chinese is also crowed.

[#dhabitamartha]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I think if China closes the bitcoin market this makes it difficult for bitcoin in China's financial round and it is difficult for us to be a user of other countries to develop global markets and hopefully bitcoin can be opened again anywhere and in any country.

[kamoto]

Yes, I heard about this too ... in fact it can very strongly affect the cost of bitcoin and unfortunately not for the better. And China is really the country in which the law is being implemented ... therefore if the government so decides, then the law will be fulfilled by all citizens. So let's hope it does not happen

[PhuongVo2702]

I think they want to create their own Cryptocurrency so that they don't allow Bitcoin mining to reduce it affect on their CryptoCurrency

[buy_crypt_sell]

Well, China is a separate issue. One of the largest economies in the world, and fast-growing. Everything there is focused on the dollar and the yuan. The country's leadership sees cryptocurrency as an unnecessary competitor to traditional currencies. But everything can change and these changes can both raise the price and lower it. East - a delicate matter...

[xbiv2]

5 miners is enought

[aburris75519]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

It's a saddest news I've ever read, if this thing come true 
I hope China govement will never do this.

[MinerFTW]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I do not know if this has somehow contributed to the negative development of the crypto market this year.
But I think it should not have much influence.

[jepoy1109]

cause they support BCH more and BTC seems droping cause one of this factor,

[Benatiabayer]

The demand for Bitcoin currency in the Chinese market is rising rapidly, which has led to virtual currency rigs flocking to China because of low electricity prices, cheap labor, and many supporting industries. has shut down much electronic money exchange and mining companies, however, bitcoin miners are still present in the country, the Chinese market with efforts to develop the Bitcoin trading platform is gradually opening up. a brighter future, stronger than ever for the e-commerce market

[MTNAX]

In my opinion, it's very unfortunate because it will affect bitcoin in a country very strongly. Maybe the Chinese government can rethink this matter so that the Chinese government will be able to accept bitcoin someday. If bitcoin is completely banned in China, in my opinion it will greatly affect the country's economy as well. So it would be nice to think about this very well again.

[burky156]

I don't follow the rumors, China is one of the strong country in the world but we are just talking about the mining, not the cryptocurrency using. So there would be no risk for me and people around me i guess. But i heard that many company in China is ready for the make their coins for cryptocurrency business.

[kevinzxz]

if in my opinion it could have an impact on the price of Bitcoin, because with the closing Bitcoin mining in China it makes them have to buy Bitcoin to get it, so that the Bitcoin price will automatically increase.

[legenduim]

Even if China closes and forbid their people to do Bitcoin Mining in the country they can send their machinery in other places by shipping and continue to mine, see-- people have their on ways of doing thing in the right way-- hahaha they never know how to surrender as long as there is a way

Interesting, how do they plan to control the people, which are mining? I understand that it is possible but the process is so complicated that is will be non-profitable activities.

[Blackwhite69]

if in my opinion it could have an impact on the price of Bitcoin, because with the closing Bitcoin mining in China it makes them have to buy Bitcoin to get it, so that the Bitcoin price will automatically increase.

If it will make Bitcoin will have a good price back then they should accelerate it done but if it will make the price increase accordingly it will have more corruption.

[EmmaVitto@tutanota.com]

I don't follow the rumors, China is one of the strong country in the world but we are just talking about the mining, not the cryptocurrency using. So there would be no risk for me and people around me i guess. But i heard that many company in China is ready for the make their coins for cryptocurrency business.

I agreed with you as you can see Chinese Blockchain Fund Plans to Raise $13 Million for Japanese Yen Stablecoin.
Source

[colork]

Yes, now a lot of countries have undertaken this. I wonder why

[MAJICOIN]

Most of the mining is in China and i like to say that in these days miners can not make more bitcoin so it cost is more than it's profit so may be it is the reason that now mining is stopped and bitcoin mining were mostly using by Chinese people and may it show a break for now but the price is changed over time and it is costly for the young investors and they are not aware of the crypto dealing so they sell in the market which trigger supply and it is the natural phenomenon.

[profitmax]

For me, it is just China and keeps the price of the cryptocurrency. If they have a ban, all the "Bubble" will burst and only the Chinese will have time to take the money.

[Irfansyed]

In fact, this news simply does not matter from the wording, because on the mine rectification and handling last year began, especially after the domestic exchange closed last year, the relevant regulatory agencies also discussed on the mine However, the conclusion is that the reasons for closing down the mines are not sufficient and the mines did not cause any more social problems. The risk points are not clear and no specific arrangements have been made

[Kasliono]

In my view, when a lot of people are stopping to mining the bitcoin, it is mean that the sirculation of the bitcoin wil be low, I mean that the bitcoin will be rare on the market which means that the prices will be going up more and more. So, it is a good news actually.

[Delinquency]

I'm sick and tired of these news. Even if it's true miners are seeking for cheaper countries. It can affect bitcoin price a little bit. But there won't be huge movement in price in my opinion.

[Ninja Sword]

China has more than two-thirds of the global processing power turned to bitcoin infrastructure. Chinese miners have taken advantage of the low cost of energy to expand their operations in recent years. There are also bigger creators of mining hardware.

[Nanagyasi]

It is right to provide the link to such news so we can all read and assess the credibility of the information. Sometimes, the source of such information cannot be ttrusted. However, I don't see any big effect this will have on btc price.

[orarider]

I think it just paused temporarily. The Chinese government can change the decision at any time. China is the largest bitcoin mining site in the world. Bitcoin prices will vary from government decisions.

[eann014]

I don't follow the rumors, China is one of the strong country in the world but we are just talking about the mining, not the cryptocurrency using. So there would be no risk for me and people around me i guess. But i heard that many company in China is ready for the make their coins for cryptocurrency business.

Well, that's good, maybe in some other months bitcoin will recover again its price, for me, $10k is enough for bitcoin price. I am sure that even China banned bitcoin, there are still somebody using bitcoin in that country. If China will make coins for cryptocurrency business this is a good news for us since we all know China has also a good economy and great country in terms of businesses.

[lazygin006]

Well they really need to do that as everyone over in China are pretty much doing it. What I would expect China will do is that they will create their own version of Bitcoin and let people mine it. That way they get more control of how it can grow/shrink.

[Sinone]

I don't think It is a true news. Have you any source for it? China is like the biggest asset country to mine the bitcoin. If they stop then bitcoin will suffer a lot and we will see a long-term bear market for sure. I think China will again legalize bitcoin.

[vnck25]

I think its not profitable anymore to mine Bitcoins! With increasing difficulty in mining and higher labor and electricity cost this makes more harder to get a profit. The downward trend in the Bitcoin price also adversely effect profit earning in Bitcoin mining. So even if China closes Bitcoin mining I think its okay, if the investors still wants to mine they can move elsewhere. Maybe a country like Venezuela where electricity costs are extremely cheap.

[Layers318]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

China hosted the large Bitcoin mining industry in the world. The sudden close down of Bitcoin mining in China has caused the crypto market and the industry a create blow. However, more than 80% of the enthusiast and believers within the China Bitcoin mining have moved from China to other countries like Canada, Germany, South Korea etc to establish more mining sectors and continue the good work from there. Bitcoin and crypto will continue to live forever.

[Patient_Zero]

I do not think that this decision will be implemented. They should better increase the taxes for mining related activities which will increase their revenue.

China will close bitcoin mining, maybe not but move miners from China to countries that are more friendly about mining costs, for example electricity costs are very energy consuming and of course the electricity costs are very high, but if done in other countries of course the electricity burden will in the responsibility of the country concerned, and the producer of electricity bills is not too much like when mining was carried out in China.

[Abal Abal]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

the scarcity of bitcoin is imminent and will fly the price of bitcoin, and this is good enough.
and also many people will get bored with their difficulties in getting bitcoin, and they will leave bitcoin, and this is the worst thing we don't want.

[edsnowangel]

Even if China closes the production of bitcoin, it does not really understand anything, because in other countries there is also a lot of mining of bitcoins.

you're right there are more other country that still operating bitcoin mining rigs and the fall of the china's rig might affect a little but there will be more to rise up in other counttry

[Om.monata]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

China closes mining I think it has a big impact on many countries, and of course on bitcoin itself. it might be the highest or the lowest price, but bitcoin will not be affected and will continue to run only a matter of the price affected.

[adefirman98]

The amount of bitcoin supply is getting smaller, if the bitcoin is fixed or added, yes, the price of bitcoin will rise.

little miner> hash power to process reduced transactions> there is a possibility that bitcoin transactions will run very slowly> people leave bitcoin.

so, actually if the miner decreases, if it decreases a little bit, then it won't be a problem, difficulty can adjust, but if, the majority of miners come out instantly means that a lot of power hash suddenly arrived, when difficulty is currently high, hash power there is, can't balance the power hash before the miner comes out. the worst possibility is, the existing power hash, is unable to process the new block at all, so difficulty adjustments (which are basically calculated based on a number of blocks) will never occur. if there are no new blocks, there are no transactions that can be processed, this means death for bitcoin. But it seems like it doesn't need to worry, if you look at the current price of bitcoin, block rewards are reduced by half even if the miners are still profitable, so they probably pull it out less.

[romantic007]

Actually I've heard of some hotel in China that accepts ETH now. There are also still many companies that support crypto. And people there still buy crypto for fiat, so it's not a big deal now.

[bsatec]

https://twitter.com/cnLedger/status/1044746490235613184
Despite the ban, they were trying to work with at least the altcoins (for example, ETH).

[christofyler]

China for all we know that they are really conservative in all aspects so that’s why they are closing the rig mining of Bitcoin since it consumes really a lot of electricity. Let just watch and see what going to happen.

[terencio]

China as a communist country, the laws must be strictly follow and the government want to limit electricity to Bitcoin miners and they are very concern with the electricity usage and with the issue also Bitcoin transparency that till now its not properly address and  the issue is not resolve.

[felicita]

sorry but chinas government is not really freedom like : D
Miners have to go to Canada or iceland or russia where the temperatures are really cold and good for mining i guess



regards

[Privatoria]

This topic has been around for almost a year, and China plans to ban all mining of bitcoin. Probably everyone should be clear that this is a manipulation. Spreading rumors is profitable for traders with bear tactics.

[70mack]

 

[nikola22]

China as a communist country, the laws must be strictly follow and the government want to limit electricity to Bitcoin miners and they are very concern with the electricity usage and with the issue also Bitcoin transparency that till now its not properly address and  the issue is not resolve.

but bitcoin miners don'd use all the electricity in the country. they buy cheap extra electricity near the power plants.

[endut15]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I think things like this really have an impact on the development of bitcoin. because the development of bitcoin also saw the situation in reality. so whatever happens is certainly very influential on its development.

[Volkan_Tom]

I think this will not happen. China will never do that. China is interested in the development of cryptocurrency and, therefore, it will support miners in their work.

[hastag_80]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Actualy i dont believe this kind of feed news thats china would closed all there rigs or mining in cryptocurrency investment because 70% of there economic progress comes from the crypto mining and they are done become more progressive  because of cryptocurrency help,maybe this  things only a denial strategy in order to no one foreign exchange competitive them in terms of crypto mining, i thinks china would have a great plan to manipulizing have there own  glovall rig in order to get all more percentage in rig or mining investment rather than other foreign miners.

[BlackRacerX]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

I think if China starts incapacitating mining in their country, then we'll probably see a rollercoaster price movement since some might panic sell due to the fact that there will be no more big miners, or the price may skyrocket since no one is pooling bitcoins in the total supply anymore.

[Cryptogames999]

China always make changing their mind all the time, so unable to believe what they talk, however they might lost some incoming money from outsourcing.

[Beatrix77]

Earn a bit of profit from the bitcoin, people still contemplate digging bitcoin despite strict government control regulations. People's Bank of China has stopped operating for the digital money trading floor at Beijing and Shanghai in the middle of September 2017, fearing that unregulated markets may pose significant financial risks. The development of bitcoin, It has boomed strongly but shows a lack of stability. Despite the ban on bitcoin exchange and exploitation, the Beijing government says it is seeking to release its own digital currency.

[gezhid008]

I haven't heard that China is going to shut down bitcoin mining, and I think it's all rumors. If that happens, it will definitely affect the price of bitcoin, and demand will increase. The price of bitcoin will go up.

[xbiv2]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

mining and mining difficulty irrelevant to price

[3x2]

As more and more people getting into crypto , the bitcoin mining is getting difficult day by day. More importantly is that Bitcoin is a direct thread to conventional payment system and can have adverse affect on Country's fiat system. That is why China is against it.

[amonymous]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

Eran more Bitcoin start trading,invest and mining,more people always believe it and getting to good profit for the trading,invest and mining.the Bitcoin popular also increase so never end and stop again.china will never banned I have believe it.

[3x2]

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.

china will never banned I have believe it.

It is not what people believe that happens in China, it is what communist wants.
People of China still praise Democracy but has it been established there?? Mate china is a single country who has been leading in crypto ban debates around the globe.

[Mideafan]

Virtual money peasants rushed to China because of low electricity prices, cheap labor, and many supporting industries. Now, all these advantages are gone, instead, the rules are more stringent. China also offers many proposals to discourage bitcoin digging activities. The tightening of a power management policy will do. The diggers easily ship to other countries. Since virtual currency machines have been in use for over two years and other components are relatively cheap.

[bajingluncat]

I have already heard the news but have not received a clear clarification, do you have any evidence about this? I am afraid that this includes only FUD, China does play an important role in the crypto world even in the real economy, a little negative news I think will affect market participants Even though the impact has not yet been felt, the market is still silent, there has been no significant movement

[hdtqisg]

There are so many governments intended, it will greatly affect the deals related to bitcoin and altcoin! But digital money transactions are peer-to-peer so transactions can not be banned!

[Zrs]

I think most the big miners from china and it is not possible to stop mining in china.I think this kind of fake news make confusion for the beginners and demotivate them.

[warning_btc]

Mining companies not interfere to China government, no reason to close it
If this news have accepted by China goverment, it will be big crash for network hashrate but not for long time.

[FRAGILE07]

its very hard to conclude that the chinese government would do that to bitcoin, because we all know bitcoin is so powerful and we all know that china is one of the powerful country and bitcoin would be a big lost for them if they would close bitcoin in their country. Just my opinion.

[Kittygalore]

In China, bitcoin mining consumes a lot of energy and the Chinese government is concerned about the problem. They fear that bitcoin digging will affect their energy.

If that is the case then the Chinese government must seek for another way to find source of renewable energy. They can see the potential of bitcoin that is why more and more Chinese citizens are using it, therefore it is really effective. In such a way we can say that people in china sees the bitcoin as something that has a huge help to them.

[truongdhnh]

If this information is really true then it will probably affect our market. Because china is a large market and potentially more or less influenced the use exploitation and trade coins.