China plans closing Bitcoin mining.

[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.....