China plans closing Bitcoin mining.

[Anam313]

For me this can increase the value of Btc. We know that the current to exploit Btc takes a lot of energy. If China builds more Btc plants, they will push the value of Btc up so they get back what they have invested in Btc plants.

[Ahsan Aly]

Today I found the news which you are talking about. Actually, China didn't ban Bitcoin but there's another thing which they banned in their country.
China bans ICO's in their country. And this step could be effect individually.

[EEEian]

At the very worst all the China farms will move somewhere else. These are multimillion dollar companies with a ton of capital invested into hardware. They are not just going to fold, liquidate and stop mining. There may be a brief period of network bottlenecks as things shift around and re settle. The price might shoot up temporarily. But eventually things will calm and life will go in as normal.

[jakezyrus]

This cannnever be done especially in China. They are brain stromers and to stop working with the ongoing blockchain technology they cann’t even think of. Money makers will not easily let it go.

china is a verry strict country in the asia  so it not surprising if they will ever ban mining and infact china had ban ico's and crypto exchanges before if im not mistaken .  

i think this is a good news for most miners because the competition can now decline and as well as the difficulty in mining .  this isnt also a big loss and wont affect the cryptos too much because china didnt ban the crypto currencies .

[nagobinga]

Of course that is normal in China because they are very smart and reshape bitcoin to China with things that have been planned to include big people.

[Goodnuel]

If this is true, it will be a very huge blow for bitcoin and the cryptocurrency world at large... If that's the plan, I hope they have a change of mind in the time to come.. But what ever happens, bitcoin will eventually find its way...

[KingScorpio]

Of course that is normal in China because they are very smart and reshape bitcoin to China with things that have been planned to include big people.

what do you mean with "big people"

[rapsa2018]

In China, bitcoin mining consumes a lot of energy and the Chinese government is concerned about the problem. They fear that bitcoin digging will affect their energy.

There is also a huge possibility that you said that because of the huge power consumption to make money I think they have banned mining in their country and if this happens in other areas of the country they will continue.

[LigwagGanern]

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 read some news about what you said. China did not totally ban bitcoin they ban ICO's and that is bad news too. Banning ICO's will affect people individually. Whatever happens hold your bitcoin and don't sell it when the price get low because it is just like throwing your money in the trashcan and put it again but the price is now the same. Some money were lost.

[ChaChaiTL]

Some sources claim that about 80% of miners based in the country are very concerned about whether the Beijing government is targeting them, just as they did for the crypto trading floors September or may be not.

[jhonxu]

Nobody will close mining or ban bitcoin trust me !

[MTNAX]

I think it's a bad idea, considering that bitcoin can be used for all of us and can benefit people who use it. I hope the Chinese government can change its mind and be able to accept bitcoin in the future, so that the people there can feel the benefits of bitcoin and get profit from bitcoin. I am sure if the Chinese government can accept bitcoin maybe the Chinese economy will be even better.

[Lazada]

In China, bitcoin mining consumes a lot of energy and the Chinese government is concerned about the problem. They fear that bitcoin digging will affect their energy.

There is also a huge possibility that you said that because of the huge power consumption to make money I think they have banned mining in their country and if this happens in other areas of the country they will continue.

Consumption of electrical energy is indeed a major problem, all hardware must run and require very large electrical energy. Naturally, the Chinese state is worried about this because it could be that the energy stock in China will experience a very significant decline phase. Especially energy issues which are currently increasingly difficult to obtain. Mining is indeed the main process for creating crypto, so this cannot be avoided. So therefore there must be a solution that can overcome it. Renewable energy like nuclear could be a good choice. Crypto cannot be stopped because crypto is a financial system in the future that must be fought for.

[Chachen19]

Does China intend to close the bitcoin ban? We will know the answer after China has made a formal decision for this. This is being done with measures such as tightening electricity prices for environmental protection

[alroys]

I remain optimistic about Bitcoin, even though China plans to close the Bitcoin mining RIG. China is indeed a big country and has a big influence on the world, but I'm sure Bitcoin will be able to continue to grow even without Chinese intervention.

[edsnowangel]

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.

what are the reason of china stopping their  rigs? any reference about this because this topic is completely missing some information

[Ayston]

Even if China closes and forbid their people to do Bitcoin Mining in the country they can send their machinery in other places by shipping and continue to mine, see-- people have their on ways of doing thing in the right way-- hahaha they never know how to surrender as long as there is a way

[xbossJ]

China is beginning to peace me off with this "I too know" stunts! quite annoying! Regardless however, no matter how hard they try; Somethings just can't be stopped! if they want their people to behave they need to make laws that favor them! Not being too harsh on ones efforts to survive! The chinese themselves don't even slow things down! give them a foot, they would want to take a yard! Quite unfortunate how cryptocurrencies are turning out because of these government efforts to control. its also sad how they just can't win they war but trying hard to destroy the market! I believe at a point they will give up. Till then, mining continues whether inside or outside china

[maskeffec]

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.

If China really tries to close down mining companies, it looks like bitcoin prices will rise because of the reduced number of people who mine Bitcoin or Bitcoin production becomes difficult and China can also try to close mining companies because the results are not so much in line with their efforts.

[Fred3030]

China always threaten to ban bitcoin and crypto. Year in year out their ban threats are always on the news. But Bitcoin always win as their threats has always been defeated by bitcoin.