China plans closing Bitcoin mining.

[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.

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[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