China plans closing Bitcoin mining.

[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).