China plans closing Bitcoin mining.

[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