China plans closing Bitcoin mining.

[kucritt]

we all know that china has the biggest bitcoin mining, if they close that bitcoin mining the price of bitcoin will stable because there are only people that mining with big rig like china, so the market demand and the stock is not overloaded it just my opinion about it

[Almirante3]

Some of China's largest Bitcoin miners are already moving their operations overseas, with the US and Canada among the most popular options. But even so, the big miners have doubts about the effectiveness of state repression: on the one hand, local governments have strong incentives to keep large mining companies in their localities, given the huge tax and electricity rates pay.

[angchosenone]

This has little effect on Bitcoin as vast Bitcoin mining organizations are currently delivering to colder, ease nations. Also, the greater part of these nations acknowledge Bitcoins and Crypto. Try not to stress excessively on the grounds that the boycott does not influence the market and the market keeps on slanting up.

[taeewo]

They have largest mining farm in the world and hope this wont have negative effects on the price of bitcoin.

[DenSamui]

A lot of different similar plans were in China and as a result, almost all these plans were eventually changed. It is difficult to understand what the Chinese have in mind.

[rickyNmorty]

I think it impossible because Most of miner in the world is Chinese and it cause unemployment in the economic,Government don't want it

As far as I know there is a criteria for having the number or the percentage of those who are unemployed to those who can nlt work at the same time to those peopl who did not want to work. But going back to the topic, this might really not affect bitcoin big time, because as we all know the conflict between bitcoin and China happens a long time ago therefore, bitcoin already did adjustment on what China can bring. Therefore there is nothing to be afraid of, it is not bitcoin's loss but China's.

[mbenga]

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 has no good purpose for bitcoin, they want to dominate on the bitcoin market, but their greedy makes the bitcoin market out of control. But, we assume that Chinese mining has a major influence on bitcoin stability.

[stayeduptolate]

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.

We all are aware with this fact that the ups and downs are very common in every kind of investment and we all know that bitcoin has been in very much of controversy about its legalisation and in the mean time , the conditions improve and many countries legalised bitcoin but still there are many more countries who are in completely against of bitcoin and now the China who is thinking of banning bitcoin mining in their nation, for them all we need to do is to create awareness as much as possible regarding bitcoin.

[hometester]

I believe that such closure of mining companies are temporary. it's such a big business, which is abandoned only by force

[stephen_fortune]

I think China's just making threats again to keep their people quiet. If they do ban it, the people will find another way regardless.

There's always another place looking to bring in the miners, whether it's up north or somewhere cheap. I think that they'd also want to look for somewhere with a fast connection speed. Doesn't google have data farms out in Iceland? That might explain why google drive is so slow sometimes, the data has to cross the ocean and back!

But with coin mining becoming less profitable, it might be hard to find a suitable solution. Unless the lightening network has a better alternative...

[BorisVirla]

This will never happen.  The Chinese know the reason for investments, they know what to put.

[jayveerastrullo]

China knows that bitcoin is dying right now. China plans closing bitcoin mining because they were done with mining. Many Chinese became rich because of it and now they do not want others to benefit from bitcoin so they planning to close it now.

[Malam90]

From the beginning of 2018, we are hearing many false news about Bitcoin. Most of the news are related to Chaina. Chaina is a big fator in Crypto-currency market. Recently mining is not profitable for its cost exceeding current price.

[samsul1234]

I just found out about this news in china, hopefully BTC is strong de future

[fianaindriati]

From the beginning of 2018, we are hearing many false news about Bitcoin. Most of the news are related to Chaina. Chaina is a big fator in Crypto-currency market. Recently mining is not profitable for its cost exceeding current price.

the bad news is always coming from china country. because until now china always hang bitcoin, that is sometimes agree and sometimes disagree. with news like this, resulting in the mining market being destroyed

[bananaohnana]

For me I think the impact of this bitcoin mining ban in China will also puncture the transaction time, causing increased fees to be paid to transfer bitcoin. This could negatively affect the value, as it would make cryptocurrency less practical as an alternative to the normal currency.

[sergiom]

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.

The price of oil grows up as the reason for that. Because there are many people who try and use mining, as a method to earn. So if China really closed that window price will be better and more people will add to mining.

[BestRate]

This is impossible. Crypto mining still very profitable, so no one interested in any kind of prohibitions.

[muratdur]

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 do not think that this news is real. But if it is that decision will be not good for real people. China should better increase some taxes for mining and allow people mine in the future. It will better for everyone.

[MNDan]

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 that this news I will be true in the future. Generally, China is very great country with its own view about cryptocurrency. Even if they will close my name people will find a way to do it. Because people are smart and want to earn for themselves.