Bitfling
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Activity: 602
Merit: 10
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July 08, 2018, 02:54:36 AM |
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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 |
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loveaspirations1552000@gm
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July 08, 2018, 02:58:15 AM |
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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
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Glorypaasa
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July 08, 2018, 02:58:40 AM |
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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. |
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kirkarsedat
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July 08, 2018, 07:04:50 AM |
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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 .
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Wind_FURY
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July 08, 2018, 07:16:15 AM |
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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.
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greengate01
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July 08, 2018, 07:27:07 AM |
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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. |
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olalaMaty
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July 08, 2018, 07:30:51 AM |
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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
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Abete
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July 08, 2018, 07:38:27 AM |
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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.
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qiman
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July 08, 2018, 07:40:27 AM |
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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.
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darkangelosme
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July 08, 2018, 07:40:58 AM |
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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. |
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De4ted
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July 08, 2018, 07:44:35 AM |
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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 |
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indayburakday012
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July 08, 2018, 07:50:48 AM |
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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.
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Pamadar
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July 08, 2018, 08:15:14 AM |
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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. |
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kukurikapu
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July 08, 2018, 08:23:39 AM |
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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. |
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basyang
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July 08, 2018, 08:25:03 AM |
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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. |
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bitcoinVPSD
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July 08, 2018, 08:26:14 AM |
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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.
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dewildance
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July 08, 2018, 08:41:35 AM |
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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.
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icecream sandwich
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July 08, 2018, 08:59:57 AM |
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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 |
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ACHANCE
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July 08, 2018, 09:04:36 AM |
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government should legalize crypto because of public interest
many people loosing money in stock market in day trading
government why not ban this
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Thecryptocurrency09
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July 08, 2018, 09:15:42 AM |
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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. |
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