this dude is out of business

[Operatr]

Go do some actual research and then try again OP

[1713511137]

1713511137

[zebigfoot]

OP clearly is trolling through his posts - HK and China have totally different legal frameworks and a legal order passed in China DOES NOT automatically apply in HK.
So ASICMiner`s datacenter in HK is safe.... for now

However, OP does raise a valid point in general : what about the mining rigs which are setup in the mainland, now that Yuan deposits are forbidden and only withdrawals are allowed ?
Will this cause any sale of second hand Chinese rig hardware due to negative outlook for BTC in China?
What impact will this have on the medium to small scale rigs (not everyone is as large as ASICMiner right?)

Would appreciate comments from everyone, especially experienced forum members and of course,
members from China and HK.

[TooDumbForBitcoin]

However, OP does raise a valid point in general : what about the mining rigs which are setup in the mainland, now that Yuan deposits are forbidden and only withdrawals are allowed ?

The largest (and largest number of) meetups the BTC universe will ever see. 

[zebigfoot]

basically, F2F and local exchanges are the way to go in China ?

[Ramhound]

Again, China didn't ban bitcoin, it made impossible for people to buy it and for institutions to invest, people can still go down in the street and trade bitcoin or any other cryptos. To be honest I think China will come back on bitcoin and it will make possible to buy and invest with very strict rules

As already said, HK is not China, have a look...
http://en.wikipedia.org/wiki/Hong_Kong

The price of BTC fell back as news came from China that government banks had begun blocking BTC transactions. This has put the currency’s Chinese future in danger in what had become its largest market.
It’s important to put this move in a regulatory context. Many banks in the US and other countries are leery of BTC transactions. Critics charge that this is because the financial industry believes BTC could replace it.
The difference between what’s happening in China and the way this has played out to date in the West is that US regulators haven’t banned Bitcoin altogether or levied special disclosure rules or other decisions against the currency. The SEC ordered Mt. Gox to follow the rules for a money service business (MSB).
China, on the other hand, has banned new third-party deposits altogether. It hasn’t banned the currency as such, but absent any new supply of coins from third-party systems, there’s no way for anyone to bring new BTC into the system. Customers are still able to purchase BTC with exchange-deposited funds, and can withdraw cash from exchanges to transfer back to their original bank accounts.

And my intention wasn't to start a flame China vs HK ! Don't Wikipedia on me, I don't like politics !  
I was just wondering about that mining installation, how useless it is now.  

So your original post stated and I quote "China banned the Bitcoin" and you then indicate that people with the ability to mine do have the ability to sell their BTC.

So how exactly is the hardware in HK worthless?

Face it.  Your post isn't accurate.

[mjsbuddha]

op made me lol

[shmadz]

After China banned the Bitcoin, this miner can find his huge coin-sucker useless:

http://www.theverge.com/2013/12/2/5165428/bitcoin-mine-in-hong-kong-uses-jelly-to-keep-cool

Do you fell any sorrow for him ?

He is not a miner, he is a journalist and it is not his mining farm.

the china rulings will not effect HK based businesses

I know he is a journalist 
I asked about the owner of that mining installation. I have serious doubts that a common person can invest so much money or have so much technical expertise !
And like it or not, Hong Kong is part of China, so I expect that the Chinese ban of Bitcoin to be applied here too.

That bolded part is the top lulz of the thread   That was the barb that really set the hook  Kudos to the OP, made me smile.   

[shmadz]

 how useless it is now.  

Wrong on so many levels.  What's to stop them from hoping on a flight from Hong Kong to LA and selling the BTC for 5% less than market value to a whale investor?

No kidding Doc, it says in the article "The mine is the size of a shipping container," With that kind of density, what's to stop them from building a mine like that inside a shipping container? You could just pick up shop and go wherever you want. I'm sure it would be much lighter once it's drained of fluid for shipping.

Hell, here's a way for the military to fund itself, just place hundreds of these on an aircraft carrier (nuclear powered of course, you gonna need some serious juice and just float around in international waters... surrounded by the usual fleet of support vessels of course.

Hmm, a setup like that, if government decides to forcibly shut down and attack other farms and pools, and the gov't keeps mining on the bitcoin boat, that would likely be enough to perform the 51% attack.

Still, a mine in a seacan is a freakin' awesome idea, where do I pre-order?

[crocko]

op... you are funny dude. 

 

[Zeal0t]

Why would ASICMiner's facility be out of business? Even if Hong Kong had to oblige to China's laws they'd still be generating a ton of coin that can be turned into local currency somehow at the end of the month.

[Shogen]

op... you are funny dude. 

 

lol 

[GambitBTC]

bitcointalk is always good for some entertaining arguments