[2018-06-18] Bitcoin Miners in China’s Remote Regions are Undeterred By Restrict

[tyz]

Bitcoin Miners in China’s Remote Regions are Undeterred By Restrictions

Though Chinese authorities have previously taken various measures aimed at curtailing the trading of cryptocurrencies, the mining of Bitcoin has continued unabated in some of China’s remote parts according to a Nikkei Asian Review report.

https://www.ccn.com/bitcoin-miners-in-chinas-remote-regions-are-undeterred-by-restrictions/

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[snipie]

You will never know what those Chinese aim exactly. From banning trading to their local currency and taking down exchanges + ICO and lately rumours about banning mining activities! However in this article I see that the opposite is happening. Besides, Bitmain seems to have some impact in the economic and maybe political level which may explain this flux situation

[richardsNY]

Besides, Bitmain seems to have some impact in the economic and maybe political level which may explain this flux situation

Yes. It's all about connections. It has been the same with various exchanges during the major shutdown. Guess what exchanges got a very soft treatment.... Right, Huobi and OKCoin. These exchanges were literally beaten up and couldn't walk anymore, and suddenly they pop up and rule the crypto market again with their volumes. It has nothing to do with how much of a great exchange they are, but only because of their connections. Not sure what percentage of their volumes are fake, but it's no longer coincidence that these exchanges always hold top positions in this market....

[Harlot]

I don't even know why they are still sharing misleading or even fake news. When we all know that 2 Chinese Exchanges are in the top 5 in terms of net income these chinese exchanges are OkEx and Huobi both of which are operating legally in China yet they are still saying that they are limiting the trading in their country. Not to mentions that one of the famous crypto-mining equipment is headquartered in China which is Bitmain. Now tell me if China is limiting their citizens' reach in cryptocurrencies why are still these companies existing and operating in their country? All they have to do is to cut the source and their "problem" would be done.

[peter0425]

Bitcoin Miners in China’s Remote Regions are Undeterred By Restrictions

Though Chinese authorities have previously taken various measures aimed at curtailing the trading of cryptocurrencies, the mining of Bitcoin has continued unabated in some of China’s remote parts according to a Nikkei Asian Review report.

https://www.ccn.com/bitcoin-miners-in-chinas-remote-regions-are-undeterred-by-restrictions/

I hope that they can milk their bitcoin mining rigs up to the last drop because we all know that Chinese government are coming hard on everything related to crypto and its just a matter of time before. The government doesn't care if you are in a remote region, they will get you believe me. They even hang a top members of their Politburo for corruption. My point is enjoy why they still can, because once they set their eyes on them, matter of days before they all been shut down. Maybe the Chinese is somewhat lax for now and give them ample time. Bitmain though is different, I think that have already a backup plan in case of total bitcoin mining farm, and those that are affected are the mid - small range bitcoin miners.