China may ban bitcoin mining soon.

[SAROKISUN]

I am very sad by this news
SHANGHAI:HONGKONG
china's state planner wants to eliminate bitcoin mining In The country according to a draft list of industrial activities
The agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector. China is the world's largest market for computer hardware
designed to mine bitcoin and other crypto currency even though such activities previously fell under a regulatory grey area. It did not stipulate a date or plan for how to eliminate bitcoin mining,meaning that such activities should be phased out immediately.
Please present your views
Here valuable forum members

[petahasher]

Why would China allow something that they cannot control? Socialism can't thrive under freedom

[BitcoinHodler]

there is not that much bitcoin mining left in China for them to ban it. most of the mining farms are already outside of jurisdiction of the Chinese government and big companies such as Bitmain already have their Headquarters in another place. not to mention that the mining pools are servers that are oversees and Chinese government has no power over them either.

so talking about China and bitcoin miners is kind of a meaningless argument in my opinion!

[aioc]

I doubt if they can really eliminate it, these are Chinese businessmen who are making a huge profit from monopolizing the mining industry, they will find a way, or they will just relocate to a more conducive location, but they will not allow other countries to get hold this market.

[Psynthax]

I am very sad by this news
SHANGHAI:HONGKONG
china's state planner wants to eliminate bitcoin mining In The country according to a draft list of industrial activities
The agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector. China is the world's largest market for computer hardware
designed to mine bitcoin and other crypto currency even though such activities previously fell under a regulatory grey area. It did not stipulate a date or plan for how to eliminate bitcoin mining,meaning that such activities should be phased out immediately.
Please present your views
Here valuable forum members

How many times i have heard china was planning it, I can't even count it. You can try to search for a lot of similar news that has already created by china. Remember if china was banning bitcoin a lot of funds were moving from china to the korean and miners will try to search an alternative way for that.

[qazgroup]

We should keep in mind that China is making billions and billions by selling mining software, hardware and related products also from mining itself Chinese firms are making killing amounts of money so i do not think it will be easy to let go billions of revenue, they may discourage new mining setups but i do not think they will forcefully close down existing setups.

[terrorJR]

If China prohibits mining of bitcoin in its country, will this affect the altcoin price? Will the price go down or go up? because what I knew was that in the past China also banned mining and prices dropped dramatically.

[Newmusa]

I believe  that this is assumption, moreover their citizens will not in support of this because they own largest  share in bitcoin market

[sopanbmp]

I am very sad by this news
SHANGHAI:HONGKONG
china's state planner wants to eliminate bitcoin mining In The country according to a draft list of industrial activities
The agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector. China is the world's largest market for computer hardware
designed to mine bitcoin and other crypto currency even though such activities previously fell under a regulatory grey area. It did not stipulate a date or plan for how to eliminate bitcoin mining,meaning that such activities should be phased out immediately.
Please present your views
Here valuable forum members

where been you all this time? since long time ago china was blasted and forbidden bitcoin to use it for public transaction, but still bitcon still legit all cryptos should be to, over 85% nations and regions has been legalize bitcoin!

[Esterklu]

I have heard the phrase 'China ban bitcoin ...' so many times that it's even surprised that they still have something to ban it.
If seriously, then as far as I know, "on Monday, the National Commission for Development and Reform of China (NDRC) has issued a proposal for the revision of the existing Catalog for Industrial Restructuring listing the industries that the Agency recommends to encourage, restrict or terminate.

The revised catalog has not yet come into force, but it has classified Bitcoin as a industrial sector that is not encouraged in the country's future development."
As i see it is not strict ban.

[Adriano2010]

Maybe they will ban bitcoin mining, but if the price will be over 50,000$ for 1 bitcoin will they still ban bitcoin mining? If they will ban then will be more bitcoin to mine for another miners from another countries, and bitcoin will continue work even without China miners.

[letyouearn]

I am very sad by this news
SHANGHAI:HONGKONG
china's state planner wants to eliminate bitcoin mining In The country according to a draft list of industrial activities
The agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector. China is the world's largest market for computer hardware
designed to mine bitcoin and other crypto currency even though such activities previously fell under a regulatory grey area. It did not stipulate a date or plan for how to eliminate bitcoin mining,meaning that such activities should be phased out immediately.
Please present your views
Here valuable forum members

Another China ban and FUD news here - seems familiar, huh? Maybe this is the first portent of upcoming bitcoin rally...
Anyway, I don't see anything bad or terrifying in this news.

[jrrsparkles]

I am very sad by this news
SHANGHAI:HONGKONG
china's state planner wants to eliminate bitcoin mining In The country according to a draft list of industrial activities
The agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector. China is the world's largest market for computer hardware
designed to mine bitcoin and other crypto currency even though such activities previously fell under a regulatory grey area. It did not stipulate a date or plan for how to eliminate bitcoin mining,meaning that such activities should be phased out immediately.
Please present your views
Here valuable forum members

Even if they ban it is not going to affect the big mining farms only the people who may doing mining at their home will stop doing it but how a government can stop individual miners as well they will knock each door on China to find out where are the crypto miners are running?

[||bit]

So what?

It will just shift mining to another area. I don't think it has any importance at all. If difficulty drops, some new miners will come, nothing to worry.

[coinbitrade]

So what?

It will just shift mining to another area. I don't think it has any importance at all. If difficulty drops, some new miners will come, nothing to worry.

I agree with you, maybe it will affect the price but not much, there will always be those who want to earn income, and China will just give others the opportunity to make money.

[Scor Pio]

So what?

It will just shift mining to another area. I don't think it has any importance at all. If difficulty drops, some new miners will come, nothing to worry.

yes, thats true,
but maybe this news make the price of bitcoin and other cryptocurrencies down
because this is a bad news on crypto world for now,, and i hope bitcoin will never go down under $5000 again mate

[Wasimalik]

This will surely not be good for crypto community as a whole. As far as i have monitered crypto so far China is most important very huge market for blockchain industry. I hope there will be some good news and situation will not get worst more after crypto trading ban in China.

[cabron]

Its always a bad news when China does something against anyone But didn't they ban btc and mining already last 2018?   Along with banning the crypto ads on facebook and google, news last year was that China bans BTC as well at least that's what I know. If it will happen once again then its a sad ways to loss capital.

[lizarder]

I don't understand why China has always made the rules about crypto in the past, rumors about banning cryptocurrency, but a few months after that they did not enforce it, now the ban on bitcoin mining which makes me sad is how the biggest bitcoin mining is there? Because I've seen videos about these activities and they have lots of machines like antminer etc. Will the tool become garbage?

[sertans]

They have created a list of industries which cause Environmental Air Pollution. In case mining pools needs high energy they think it is one of the main reason for air pollution (of course Not the only ) Where it needs to be produced by coal energy plant. On the other hand they need to find another way to supply green energy for mining pools which will reduce power generation need from coal while sustain more development on integration of mining pools and green energy.