BTC To 9K$, China Banned miners

[Jating]

Did they really ban bitcoin mining?

It only says it's considering a bitcoin mining ban, so it's not yet final so I guess everyone should stop speculating as this point until we really heard fro the Chinese government about their stance on it.

On the bright side, it might cut the monopoly of Bitmain and other countries might be willing to keep bitcoin mining on their back-yard.

There is no way China will actually ban bitcoin mining.  They get tax revenue from businesses and mining has been thriving in their country.  Its just sabotaging their own economy only to let other countries gobble up the mining industry.

Could be, but there maybe a deeper roots though. It's their hatred on bitcoin that's why they wanted to end everything.

I guess they are other means for their government to raise revenues, and maybe bitcoin mining is just a small dot and I don't think that they are going to sabotage their economy by banning bitcoin mining.

[Danslip]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

fake news.It is proposal only from 2013.Every three years proposal is updated.Next China ban will be 2022.
But bitcoin will rise to 9 k and much higher it is matter of time only

Yeah, it was old news and there are other things that should be considered as good news in my opinion. Next ban will lead more pressure on the markets and the result will be low prices on crypto markets.

[DeadCoin]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

fake news.It is proposal only from 2013.Every three years proposal is updated.Next China ban will be 2022.
But bitcoin will rise to 9 k and much higher it is matter of time only

Yeah, it was old news and there are other things that should be considered as good news in my opinion. Next ban will lead more pressure on the markets and the result will be low prices on crypto markets.

Closure of a business would certainly decrease the value of the product they were selling off. I feel the news would bring bad impact to the market decreasing BTC price and obviously altcoin will fall into the same. But on the other hand, when the demand increases, yes the price is going to be growing up in midst of all bad news. Lets see how the impact revolves around.

[barbara44]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

But I don’t see it as good news in the main time, if they ban miners, they are indirectly banning BTC then, which is not too good for us, miners can always come from region and what is exactly the population of miners in China for us to start jubilating their ban, China is a big country with rich people, we need them to fully adopt cryptocurrency so that we can have more populations that will invest in it or make use of it as a utility token.

Anyway, we still cannot fully speculate that the Ban will have any effect on BTC, let us see how it goes this period and see if truly, their ban has any influence in the current market supply.

[shoreno]

I don’t see it as good news in the main time, if they ban miners, they are indirectly banning BTC then,

they dont say that they ban btc  .they only say that they ban miners  . btc users are still welcome to use btc on thier country i guess .

which is not too good for us, miners can always come from region and what is exactly the population of miners in China for us to start jubilating their ban

reduced numbers of miners is not bad beause this give some space to the mining industry . this loosen the difficulty in mining which is good  . this gives other a chance to join and earn more in mining   .

Anyway, we still cannot fully speculate that the Ban will have any effect on BTC, let us see how it goes this period and see if truly, their ban has any influence in the current market supply.

if the news was true . the ban do have some minor effects  but some said that the news was only a hoax  . it might be a scare to others for them to panic .

[Adriano2010]

Indeed is bad, because ASIC miners are created on China, but i don't think is banned now and maybe if the price go up they will not ban bitcoin, but we need a higher price, so better wait and see what will happen.

[creeps]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

fake news.It is proposal only from 2013.Every three years proposal is updated.Next China ban will be 2022.
But bitcoin will rise to 9 k and much higher it is matter of time only

Looking at the internet right now and I don’t see any news from China on banning the miners, and I believe this is not a good news after all. The demand will increase and it can start to pump the price but we need more miners for a faster transactions. We don’t need bad news just to pump the price, because bitcoin will always go up and its about time to slowly reach a higher price $9k and more.

[olumyd]

bitcoin mining has not been a CHINA thing for a couple years now.

will people stop living in propoganda past

You sure about that? China remains the leader in Bitcoin mining, as per the latest available data. Earlier this year, Jordan Tuwiner estimated that China contributes to 81% of the mining hash power. Just check the below image, and you'll see that the largest mining pools are all from China:

These are chinese companies, but this dont means the mining operations are in China. Some of them have moved their headquarters too. I read somewhere that only 32% of hashing power is in China, right now.

Still I'd say 32% is a huge share, to lose that much will have ramifications, though it opens up the opportunity for existing companies to increase their quota, and if that doesn't happen, it just might affect the industry, and price as well.

[Chikito]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

bad news for china miner and bad news for us, demand will not be increase. when they go to under ground miner or go to outside country

[Questat]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

bad news for china miner and bad news for us, demand will not be increase. when they go to under ground miner or go to outside country

We never care about china anymore, we know they are anti crypto and operating within their country is a bad idea.
People who like to continue the business of mining, they can find another place to operate with a cheap electricity, I'm sure these guys already anticipated this.

[FIFA worldcup]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

I do not believe in such news now neither bitcoin community take it seriously. We have seen such statements of ban crypto / mining in china which resulted in price pump and dump, but now everyone is aware that china just spread the Fud and there is no significant movement in prices by such news.

[ethereumhunter]

I don't think that China banned miners because bitcoin is potential to give a huge profit not just for the miners but also for the government if they do mining too with their super-duper hardware. When something gives benefit, then I don't think that it could stop right away because people will search another way to continue still to take the benefit. So do with mining, when they can mining and get a big reward from crypto, then they try to move their hardware or their company in a safe place to continue mining.

[Herbert2020]

lol. it is funny how people connect things together sometimes when it comes to price speculations around here. it doesn't matter if they are completely irrelevant either

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

bad news for china miner and bad news for us, demand will not be increase. when they go to under ground miner or go to outside country

most of the businesses have already exited Chinese government jurisdiction a very long time ago. that includes exchanges, ASIC manufacturer, mining farms,... so the only badness of this news is its FUD which has also been rather ineffective if you look at the price charts and how price is currently above $5100!

[Siren]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

The statement is clear that china is Considering to banned miningbut that was not decided so there is only a possibilities and not reality

Though in some point that would have a good effect in bitcoin price and market will sure move but still we need to wait until things happens
So it is too early to count the checks from the eggs that is not broken yet

[Pursuer]

it is China and news coming from China on shitty news sites so I wouldn't be surprised that there has never been anything remotely close to an actual "ban" but something that the news sites exaggerated like they have been doing in the past 10 years just to get traffic with their click baits.

as for bitcoin price it won't change based on this news specially not upwards. if anything it should have dropped because of the panic. you can associate the recent small drop with it but that was too small and it is already over so it is not worth talking about that either!!!

[Lawrenzoo]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

It is not certain they have done so. i think it is just a plan that may not happen, we have so many alternatives that the miners can continue to use for mining that is beyound their control, so it may not really reduce the supply limit.

[hotimbineh]

this news is not final still the plan of the Chinese government but whether with the ban the price will rise or even will decrease. but what is clear is that this can change if the miners use environmentally friendly energy to produce electricity but if not then the mining ban may be possible

[carlisle1]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

Really?so when would this be?lol

China was thinking about banning but not decided yet so this is a future speculative post,but for me?yeah i eant this to happen soon,as i am dying to see the spike of bitcoin to uptrend

[futile-resistance]

it is China and news coming from China on shitty news sites so I wouldn't be surprised that there has never been anything remotely close to an actual "ban" but something that the news sites exaggerated like they have been doing in the past 10 years just to get traffic with their click baits.

as for bitcoin price it won't change based on this news specially not upwards. if anything it should have dropped because of the panic. you can associate the recent small drop with it but that was too small and it is already over so it is not worth talking about that either!!!

You seems to be right, most of the sites promoting these news may just be doing so to gain attention or traffic to their site, because I was wondering how crypto mining has now become major challenge to the government of china, of all the challenges they have at hand that poses threat to them more than mining, I bet it was not true, if they wanted to do so, they would have even started by banning some exchanges too like HUOBI, this blockchain system is really beyond governments control and I don’t think they have seen any threat it has pose to their economy yet for them to go that hard on it.

[Oceat]

Where do you get your data that Bitcoin will grow to $9k? Even if they ban their miners or not we can't still say that Bitcoin will grow. Luckily Bitcoin passed the $5k resistance since it is hard to attain in the past few months but look at this we have seen some improvement of the market.