Mining ban in China?! Redistribution of mining power?

[alex2011576]

Hey! Have u heard that "PBoC governor Pan Gongsheng has suggested the Chinese government to shutdown OTC platforms and exchanges within mainland China to ensure that cryptocurrency trading ban is strictly enforced"? What is gonna happen ? Will we see the redistribution of mining power or China will not be able to realize it?

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[parisbitcoin]

It doesn't look like they're cracking down on mining... there's no visible or tangible signs yet. Rumours around Bitmain setting up data centers in Europe and Canada have emerged, but nothing tangible.
The chinese website Alibaba.com is still listing miners for sale, so I'd take any news you read with a pinch of salt
check https://www.alibaba.com/showroom/s9-antminer.html

[alex2011576]

It doesn't look like they're cracking down on mining... there's no visible or tangible signs yet. Rumours around Bitmain setting up data centers in Europe and Canada have emerged, but nothing tangible.
The chinese website Alibaba.com is still listing miners for sale, so I'd take any news you read with a pinch of salt
check https://www.alibaba.com/showroom/s9-antminer.html

Yeah, fair point. It is just strange that many big media sources as Bloomberg and CNN published some articles.
but don't u think that the last decrase in BTC value could be caused by these news ?

[dagarair]

Media is stupid.  3 months ago they had no idea what bitcoin even was....  now they are experts.... its laughable.

Here is the way china works... 96% communist 4% (the top) do whatever the F they want.  Bitmain and most miners up there are top %.  They will show some poor bastard with 10 getting shutdown but the big guys won't get touched.

[alex2011576]

Media is stupid.  3 months ago they had no idea what bitcoin even was....  now they are experts.... its laughable.

Here is the way china works... 96% communist 4% (the top) do whatever the F they want.  Bitmain and most miners up there are top %.  They will show some poor bastard with 10 getting shutdown but the big guys won't get touched.

I agree with u about political situation in China, but why they tried to restrict crypto exchange and now mining if it is owened by those miners from the top%. Maybe they struggle with each other?

[dagarair]

it's all about $.

They want the revenues.  What will happen is China will make a "china coin" and make everyone use it watch.

[Set Ready Go]

Canaan seems to be building data center in northern sweden.

[gotminer]

It doesn't look like they're cracking down on mining... there's no visible or tangible signs yet. Rumours around Bitmain setting up data centers in Europe and Canada have emerged, but nothing tangible.
The chinese website Alibaba.com is still listing miners for sale, so I'd take any news you read with a pinch of salt
check https://www.alibaba.com/showroom/s9-antminer.html

Yeah, fair point. It is just strange that many big media sources as Bloomberg and CNN published some articles.
but don't u think that the last decrase in BTC value could be caused by these news ?

Get your news from reputable media outlets that are ran by people who actually have real life experience in crypto.  Bloomberg, CNN, MSNBC seem to copy week old news and toss it out there.

[letua]

it's all about $.

They want the revenues.  What will happen is China will make a "china coin" and make everyone use it watch.

Maybe your right China will make a coin. In my opinion China doing there very best to let be the people controlled by the government. Then someday they have own coin made in China.

[alex2011576]

It doesn't look like they're cracking down on mining... there's no visible or tangible signs yet. Rumours around Bitmain setting up data centers in Europe and Canada have emerged, but nothing tangible.
The chinese website Alibaba.com is still listing miners for sale, so I'd take any news you read with a pinch of salt
check https://www.alibaba.com/showroom/s9-antminer.html

Yeah, fair point. It is just strange that many big media sources as Bloomberg and CNN published some articles.
but don't u think that the last decrase in BTC value could be caused by these news ?

Get your news from reputable media outlets that are ran by people who actually have real life experience in crypto.  Bloomberg, CNN, MSNBC seem to copy week old news and toss it out there.

Thanks for advice! Could u give me examples of reputable media?

[gotminer]

Maybe reputable wasn't the correct word to use.  Most media outlets have some sort of agenda, in my opinion ... But Coindesk, Bitcoin.com news ... Join Telegram groups ... Crypto Twitter ... Listen to Podcasts.  There is a variety of ways to keep up with the news, before mass media starts reporting it.

[Mike011]

Even speaking about it is a good enough sign. Clever miners are already making arrangements elsewhere.

[alex2011576]

Maybe reputable wasn't the correct word to use.  Most media outlets have some sort of agenda, in my opinion ... But Coindesk, Bitcoin.com news ... Join Telegram groups ... Crypto Twitter ... Listen to Podcasts.  There is a variety of ways to keep up with the news, before mass media starts reporting it.

I have so many groups in telegram. Could u advise any specific groups bucause the majority of them realease stupid news bout nothing?

[alex2011576]

Even speaking about it is a good enough sign. Clever miners are already making arrangements elsewhere.

I heard that in Africa minig power is very fast growing now

[Vann]

It's already shifting. Both to North America and mobile cargo container mining.

BitFury to set up largest mining data centers in North America

https://coinpedia.org/news/bitfury-mining-data-centers-north-america

https://www.youtube.com/watch?v=Dkqwy6uONwM

[Corsa1r]

Even speaking about it is a good enough sign. Clever miners are already making arrangements elsewhere.

I heard that in Africa minig power is very fast growing now

In Africa of all places?

[alex2011576]

Even speaking about it is a good enough sign. Clever miners are already making arrangements elsewhere.

I heard that in Africa minig power is very fast growing now

In Africa of all places?

Yeah, my answer is kinda stupid😅 In Nigeria 😄

[QuintLeo]

Hey! Have u heard that "PBoC governor Pan Gongsheng has suggested the Chinese government to shutdown OTC platforms and exchanges within mainland China to ensure that cryptocurrency trading ban is strictly enforced"? What is gonna happen ? Will we see the redistribution of mining power or China will not be able to realize it?

 Read your own post - no talk about "mining" in there at all.

[alex2011576]

Hey! Have u heard that "PBoC governor Pan Gongsheng has suggested the Chinese government to shutdown OTC platforms and exchanges within mainland China to ensure that cryptocurrency trading ban is strictly enforced"? What is gonna happen ? Will we see the redistribution of mining power or China will not be able to realize it?

 Read your own post - no talk about "mining" in there at all.

I read many news and there are a lot of bulshit like that. Moreover, the main idea of these conversation is that I am interested in situations. What do u all think gonna happen in nearest Future in China?

[QuintLeo]

It doesn't look like they're cracking down on mining... there's no visible or tangible signs yet. Rumours around Bitmain setting up data centers in Europe and Canada have emerged, but nothing tangible.
The chinese website Alibaba.com is still listing miners for sale, so I'd take any news you read with a pinch of salt
check https://www.alibaba.com/showroom/s9-antminer.html

Yeah, fair point. It is just strange that many big media sources as Bloomberg and CNN published some articles.
but don't u think that the last decrase in BTC value could be caused by these news ?

 Reality check here.
 You're trusting stuff CNN publishes?

 ROFLMAOSC!!!!!!!