China may ban bitcoin mining soon.

[ansarose1]

I feel bad for the bitcoin enthusiast from china. I hope they can still continue adapting cryptocurrency in their place and inhioe that there is proper negotiation upon banning bitcoin in china. If there are some ways to prevent banning then it can be good for the both sides.

[trauchot]

China has been saying this for several years already, they constantly said that they would completely ban all cryptocurrencies and that they will ban cryptocurrency mining, but so far it hasn’t come to this, they have tried to do something, but Chinese people are finding ways to get around it.

[Eleareon]

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!

I totally agree.You can't control what is out of your control.I guess most of this business men in mining already see ahead and already make provision for alternative.

[beerlover]

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

Lol, the question should be how will they be able to ban something they cannot control, because if they can control it, this means they can definitely banned it, one don't need to be in china in order to own a miner, for the fact you are Chinese doesn't mean you can't own a mining farm in another part of the world.

Besides no one cares where a mining farm is located as long as they keep running and supporting the bitcoin node and other nodes in existence, so I don't see their threat as something that holds any value.

It has been lots of weight mate, I learnt that majority of the current miners we have now are from china, and not many of them are into cloud mining, they set up their mining far directly in their country because of the good electricity they have their, how do you expect all miners in china to migrate to another country to go own a mining far, that would be a massive migration and even if they contract it out, monitoring your investment directly cannot be the same way as someone monitoring it for you, except they all want to migrate to cloud mining in which china technology has even gone too far to monitor whatever is running through their internet.

Moreover, I am not even bothered about the ban, it will make demand become higher than supply, thereby leading to a very huge spike in price of coins.

[akram143]

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

mostly China don't need the usage of Bitcoin they have their own cryptocurrency in their countries so the possibility of your statement is also been available from the situation of Bitcoin if it was been changed only the development of Bitcoin is happen

[melomanskiy]

I think that there is nothing wrong with that. Relocated to other parts of the planet. It is strange that the Chinese government issues such laws, because they are included in the top countries for the extraction and use of cryptocurrency.

[CryptoGosu]

I don't think China will ban Bitcoin mining. I think this news is similar to an attempt to manipulate the price of Bitcoin. Governments want as few people as possible to buy Bitcoin.

[livingfree]

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.

China has a lot of miners that helps to maintain the network of bitcoin. And this is why many aren't liking it if the gov't of China will disable their people to mine bitcoin. You can shift to other countries like other miners did but there's sort of difference why it is a good place to mine in China. There are factories alike if you will look outside the warehouse but inside of it is a mining farm facility. If ever the difficulty drops, it will increase suddenly which will be taken by other miners.

[Astvile]

This would be meaningless and wont even affect bitcoin industry that much,yeah china has a big market for bitcoin and bitcoin miners but do you think that chinese businessmens are not smart enought to transfer their equipments in another country?they already did so its meaningless for chinese government to ban this bitcoin miining

[abake]

In my own opinion, China banning BTC mining, (still a rumor) doesn't have much effect in the real sense. China just have a lil fraction of the mining farms, it's not as though all mining is done there. Moreover, laying emphasis on this will only create FUD for the noobs, let's keep up with the good news to propel crypto.

[misterjo]

It is still not confirmed that they will really ban the mining of cryptocurrencies, at the moment it is in process ...

but the truth is that it is something very negative they get it approved, I believe that in the short term it would affect us while the miners start to get out of that country, but in the long term we will recover and we will be stronger!

[Moeda]

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

The government sometimes sees Bitcoin or cryptocurrency as very sensitive, with a different view in it. This makes crypto often interrupted. I think the government is doing this so that blockchain or markets work together with the government, both in the tax sector, profit sharing, and so on.

[Ultimist]

When in some country prohibit crypto, it is always bad. Although I think that people in any case will be able to find ways to use crypto, because it cant be banned. Especially those who keep large farms will always find a way to continue their activities.

[yapa ve yalniz]

This move of china will be at the detriment of the country. Because I really think they get a good share of commissions. The price will go down in case of something like this.

[Ranly123]

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

China has a large mining farm and why would the authority stop his if this could help their economy benefit from it? I doubt if they will continue to ban Bitcoin mining in their country.

[matveyeff]

We had so much FUD from China that I stopped paying attention to it. There are many places for mining, China is not the only place with cheap electricity.

[GospelCrypto2]

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

I don't think this will see the light of day.. It's one thing to ban ICOs and exchange but it's another to stop mining.. It's almost impossible to tell people what to use their processors and computing power for.. I don't see this having any effect on the crypto market

[tippytoes]

We had so much FUD from China that I stopped paying attention to it. There are many places for mining, China is not the only place with cheap electricity.

I don't think they will really implement it. Maybe, they are just creating fake news so these miners will give something to the government. You know how their system works in China. So much under the table is happening. But in any case, yes, there are other countries that can be an alternative for these miners to thrive. It is their lost, not the crypto world.

[Youghoor]

In as much as China is currently the country with the majority of mining farms, banning crypto mining in China will not really affect these mining farms. The locations for these mining farms are usually not know. This will make it very difficult to locate these farms. But I think this news on China banning  cryptocurrency and crypto mining is just a false speculation.

[Judge-Dredd]

This is a futile effort. It's like trying to ban breathing. Or alcohol. Never going to work. China can try to step backwards if they choose though. Their loss.