China plans closing Bitcoin mining.

[MrRiuss]

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 this is a good news from bad news. the good news is that the competition to mine bitcoin become bigger 

[copperton]

We can't trust on chines government because they are business minded peoples and they never do this kind of thing. china always show their two color for the world, if this happen then this situation not create much problems for bitcoin and its transactions but i am sure china will not do because they also like blockchain technology and planing to launch their own cryptocurrency so how they can close mining because they need miners for their cryptocurrency

[bitcoinposts]

no country anywhere in the world can stop mining even though mining illegal in some countries still they mine bitcoin and other crypto currencies

[irinna]

 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.

[GreenProfit]

Bitcoin is created to survive so dont worry bitcoin price will go down for a little and later after short time it go up again and everything is back to normal,dont worry they are other companies in world which are mining bitcoin more and more often so bitcoin will not die 

[SoloMoney]

In China, there are the largest crypto currency farms in the world, so even if the state is against the crypto currency, no one will simply stop dealing with crypto currency. At the price of most tokens, this of course can say, but in the long run, everything should be fine.

[yugyug]

In my humble opinion i think Chinese government are planning to shutdown bitcoin mining operation in their location is mainly because of the environmental concern as we all know that bitcoin mining consumes a lot of electrical power and that's why on their latest ranking Bitcoin was out on the top 15 cryptocuency list, reference source from ccn.com https://www.ccn.com/eos-leads-chinas-blockchain-rankings-again-bitcoin-still-out-of-top-15/  as they prioritize on energy efficient blockchain like EOS.

[Nick Abimanyu]

Not surprisingly 'with this one country, the prerogative of its government is often contrary to the general rules of other countries, China always does not want other currencies or any products coming from other countries to progress, both in the real world and the virtual world including cryptomarket, for example China will never buy/use products from other countries, no matter how China should be able to sell its products to other countries, that's the way of their trade politics so this country can become the king of the world market as it's today. I think the principle of their government more stubborn wants his own victory.

[thepers0n]

I think Chinese government shouldn't ban it  because around 80% of bitcoins (BTC) being mined and traded in China, the Chinese government will have a major influence over the market.

[millgates]

Why many bad news come out when bitcoin price begin to rise? Omg. Actually minning bitcoin will give more wealth to Chinese people. No negative thing in bitcoin mining, bitcoin minner doesn't take wealth inside country to outside country even its add more wealth inside country.

[audrey.audrey11]

we can not trust China, they may change their opinion at any time. Just listen

[jmvzlfyg]

Perhaps it's just some tightening up, and there's no need to worry too much that China's mining business has been stable.

[jmvzlfyg]

Perhaps it's just some tightening up, and there's no need to worry too much that China's mining business has been stable.

[mattbellme]

China will do what they will do, bitcoin will still be here whether China allows it or not

Mining companies will just move if they ban mining

[VK.point]

even I do not understand why china closes bitcoin mining. hopefully not followed by other countries. and not really happening.
 

[ExtremeFacials.com]

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 should not make such a plan, as it will affect the whole network of crypt-exchange system. China is one of the countries where extraction is found on a large scale. In my understanding, the closure of property extraction can lead to an increase in demand for bitcoins, which will lead to higher prices, and can cause things in reverse order.

[Raggie]

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 don't think it will really happening. If china close their mining activity, bitcoin price will be dump because they will become easy to mine due the dropping difficulty. This is because there are many miners from china mining bitcoin currently. Do you have any sources supporting this news ?

[Verde_Mantis]

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.

Why don't they just do it and then get out of bitcoin forever? I'm so so tired of reading about China and bitcoin here, China and bitcoin there... They don't want them? Ok, no problem, there are other 200 countries in the world, we can live anyway.

[Almirante3]

China accounts for more than two-thirds of the world's processing power devoted to Bitcoin mining. It is also home to some of the world's leading developers of mining hardware, which usually also operate large mining pools.

[Leyss]

From China, there are very peculiar news. Recently announced the existence of a two-year program to completely ban decentralized crypto currency. Then stopping the production of bitcoins may well correspond to such a decision.
At the same time, China now has the largest number of patents for the introduction of blockchein technology. What does it say? In China, the advanced technology blockchein is very actively introduced, as for the crypto currency, there they are looking for their own solutions to this issue, but they are not going to recognize their own crypto currency. They will not refuse at all from crypto currency, but only try to create all their own. They try to avoid all other countries in the issue of crypto currency. Well, let's see what they can do.