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Author Topic: Is ALL mining in China heading towards doom?  (Read 343 times)
gentlemand
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August 23, 2018, 02:48:10 PM
Last edit: August 23, 2018, 03:02:09 PM by gentlemand
 #1

Presumably this pops up fairly often but in the last few days the Chinese government has banned - crypto news outlets on Wechat and other places, crypto events in certain areas and now blocked access to another 120 foreign exchanges.

Aside from the occasional piss take with power stations, we've heard very little about making a move on miners.

It seems China makes an explicit divide between trading and payments with crypto and mining which has remained off the cards, presumably because it's a small number of industrial operations that can be closely monitored and the public will never be able to get into it in a meaningful way anyway.

Miners have to sell it as well. I would've thought anything that generates the need to trade will be eventual toast. Will they stay hands off or is it just a matter of time?

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August 24, 2018, 06:10:34 PM
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Suspect they want to isolate their country and play it safe - not have crypto possible interfere with their manic currency controls.

However they are perfectly fine with Bitmain and Canaan selling miners to people overseas and bringing cash into the country.

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August 25, 2018, 03:45:34 AM
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Do you know any native Chinese? Do you Speak Mandarin? Have you ever lived there?

I speak Mandarin and lived there 6 years and have many native friends into crypto bigtime.

You could not be more wrong ..you are clueless about China. They have Bitcoin by the balls.
They absolutely have TOTAL domination over Bitcoin and love it and are not about to do anything stupid to hurt it or loss it.
China is by FAR the most bitcoin friendly and bitcoin hungry country in the world.
News of clampdown on mining ops is grossly exaggerated and limited to energy sensitive areas and small independent electricity stealing ops.
(Electricity theft is a HUGE problem in China)
Clamp downs on scammy traders/exchanges and ICO's IS happening which is a VERY good thing.
The hash rate explosion of the last 6 months has been dominated by Chinese DOMESTIC sales.
There are VERY few places in the world left that can compete with China's CHEAP coal Megawatt plants..which they make at the rate of 1/month
Most of the overseas cheap electricity has already long been secured and sucked up by Chinese Interests just as they are aggressively investing in African raw minerals etc. 
The massive expansion of Chinese pools alone is obvious confirmation.
The Chinese Central Committee is VERY active to CENTRALIZE and dominate the BTC market in both hardware AND mining.
AND STRICTLY CONTROL TRADING AND REDUCE SPECULATION ( curb Inflationary parasites)
The massive OVERSEAS growth in mining ops in USA/Canada has been mostly funded by Bitmain.

So say my Chinese friends...but it's a shit hole to live there..they all want to come to US/Canada

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August 26, 2018, 12:33:29 PM
 #4

It seems like the don't want to let the average person participate in the space possibly allowing the big miners to have monopoly over it in the region?
Who's to say they won't one day step into the mining space and say "it belongs to us now".

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