BTC to 50K, China banned miners

[Carry_Me_Hoome]

BTC could indeed easily go to 50k, but I think it will take at least two years before we see this happening

[DreamStage]

I'm not sure about this issue. In fact, if the majority of miners in China are shut down, more than 50% of Bitcoin's power is lost. That leads to a sluggish, slow process in the confirmation process. So you think people will feel the need to buy BTC just because it is harder to create (<50% of the generated rate) or feel frustrated and gradually boycott Bitcoin because the transaction fee is too high and it takes too much time to handle a transaction?

Because more investors will try to get their hands onto new mining capabilities thus buying is necessary.
So by buying they will essentially make bitcoin price increase even more.

[posi]

I'm not sure about this issue. In fact, if the majority of miners in China are shut down, more than 50% of Bitcoin's power is lost. That leads to a sluggish, slow process in the confirmation process. So you think people will feel the need to buy BTC just because it is harder to create (<50% of the generated rate) or feel frustrated and gradually boycott Bitcoin because the transaction fee is too high and it takes too much time to handle a transaction?

Believe me, I will never disagree with you when you said the Chinese banning miners will lead to increase in the price of the Bitcoin market because.
1) Bitcoin market have been showing some resistance to dump in price for weeks.
2) A lot of senior crypto market price analysts like Mati of etoro etc  predicted the Bitcoin market to surge after China miners ban but for the market to reach 50K what seems not right.

[onrise]

BTC could indeed easily go to 50k, but I think it will take at least two years before we see this happening

Btc first point will be crossing 10k so that it can reach 5 digit mark and second to steadily grow from that point and does not fall back to something like 5k levels or so . So better that it grows slowly and steadily and not to worry about 50k at present time .

[buddynuno]

35 days ago I started a thread and I told you btc will go 9k$ bcz china banned miners, but some of you dont believed me, Today BTC is 8100$ in some exchange, Here is that thread:
https://bitcointalk.org/index.php?topic=5130327.msg50545198#msg50545198
Now I have a good news , BTC to 50k$ bcz china banned miner, my friend in China confirmed 90% of miner in china are shutdown. BTC can easy go to 50K$ and more.
Less miners = More Demand = increasing price, as simple as that.

How do you figure that with less miners the demand will be higher? As the price of bitcoin goes higher the more people want to mine it. If China have less miners, other countries will gain more miners. Bitmain has mining farms outsider of China. I don't see bitcoin having less miners because of any China ban. The only reason I see for bitcoin to have less miners in the future is if the demand for bitcoin decreases over time.

[tegarp90]

I think if btc mined more the supply will be less.
and the price will be high, so if it's not mine by many people, the difficulty is not high and miners will get many btc

[ZenMaster1975]

BTC to the moon!

[lupinvn]

I think if btc mined more the supply will be less.
and the price will be high, so if it's not mine by many people, the difficulty is not high and miners will get many btc

Indeed it is, but on the other hand, if there are fewer miners, don't know if the speed of decoding 1 block will be longer? The idea is that it will cause slow confirmation of 1 hash. Gradually users will find it inconvenient to use and trade with BTC, then gradually will users abandon BTC and choose other crypto?

[hulla]

With our without the Chinese miners ban Bitcoin will surge in price but the ban will be a process to make the surge faster and that doesn't mean the price of the Bitcoin market will reach the 50K price for it not possible except if the whales manipulate the market and it could to another early blood bath or market correction.

[DatKing]

I don't think that Bitcoin will reach 50k this time but who knows. Bitcoin suddenly started to rise quickly and reached 8k dollars. I think Bitcoin will reach a value between 25k-30k and set a new record.

[rdluffy]

I don't know, in theory you are right, but all miners who have hardware in China will move to another country, they will not leave cryptos easy
Let's see what happens, I'm curious to see how market is going to react

[okala]

35 days ago I started a thread and I told you btc will go 9k$ bcz china banned miners, but some of you dont believed me, Today BTC is 8100$ in some exchange, Here is that thread:
https://bitcointalk.org/index.php?topic=5130327.msg50545198#msg50545198
Now I have a good news , BTC to 50k$ bcz china banned miner, my friend in China confirmed 90% of miner in china are shutdown. BTC can easy go to 50K$ and more.
Less miners = More Demand = increasing price, as simple as that.

I don't think so that the Ban of miners will only result in the congestion of the bitcoin network which may even lead to high transactions fees being charge on bitcoin transactions. I love this stage of bitcoin price at lest bitcoin is stable and correct back to a point at each period. The only thing that can result into price rise in bitcoin is the level of demands.

[Adriano2010]

In my opinion the bitcoin price will not be 50k$ this year, only next year i think can happen before or after bitcoin block halving, but indeed China miners ban not make the price going down and this is good. But now all China miners stopped mining bitcoin?

[Leyss]

I do not think that the prohibition of mining Bitcoin in China will significantly affect the price of Bitcoin in the direction of its increase. What will change from this? Bitcoin is mined all over the world. Even if the number of miners decreases, the same number of bitcoins will be mined for a certain amount of time. Just the chances of other miners in bitcoin mining will increase. In addition, talks about such a ban have been going on for too long and the miners of China have long been ready for such a step of the government. Some of them have long left the country.

[olamidey]

Not really. There are other miners in the world bro. So the China thing doesn't shut down the BTC framework/ network. Yes, there are many miners in China but even at that, I believe some will find a way to bypass all the banning stuff. BTC is not looking close to $50k this year so be rest assured.

[D3m1r4wanti]

bitcoin is a cryptocurrency which has very high volatility, but I'm not sure if the price will reach $ 50k.
the price is still stuck at $ 7k and to reach the price of $ 50k it's still very far away.

[fiulpro]

Less miners = more demand ?
Since when ?

Mining facilities are subject to availability of specific products and softwares it's not someone can do sitting at home , I know there are softwares like that but they provide no not profit.

Miners are like the bank that pores out Bitcoins outside for the public to buy , it unlocks it.

Therefore they are essentially not related to price in my view, they supply Bitcoin to general public , they are like people who are given a job by Bitcoins.

They get 12.5 BTC to complete one block approx idk what's the price right now.

[agatha90]

Bitcoin mining will consume a lot of electricity in China. If this ban is actually implemented, it will push the price of Bitcoin to rise, not decrease. The loss of cheap electricity prices in China will actually increase mining costs which have a good impact on prices. It will also turn off the FUD (fear, uncertainty, doubt).

[ePesoInitiative]

China banning miners is already irrelevant to the Bitcoin ecosystem. Before it was vital, but now because of numerous new mining farms cropping up across the globe, their ban is less effective. In fact, there will be a new mining hardware race where Chinese miners are just a small faction.

[joshy23]

China banning miners is already irrelevant to the Bitcoin ecosystem. Before it was vital, but now because of numerous new mining farms cropping up across the globe, their ban is less effective. In fact, there will be a new mining hardware race where Chinese miners are just a small faction.

Precisely, this banning issue don't have any big impact anymore from this industry, there's already lots of competitions and those big
miners are also aware that they can easily migrate if this will affects their businesses.