BTC to 50K, China banned miners

[10eX]

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.

Correct

[xWolfx]

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.

Yeah it will definitely affect the price since i bet that they were quite a few but at the end nothing bad for the survival of it. Even if forbidden worldwide it would have the same effects than the alcohol prohibition in the United States back then.

So only one country, even if it's one with so much people like China is somewhat irrelevant. Have to make sure it continues that way. But at the end, Bitcoin's mining is not infinite at all.

[traderethereum]

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.

I hope so, but we never know what the Chinese government will want to do after they banned miners because I feel it so strange to know the news.
Maybe they want to mine by themselves without any citizen doing the same thing as them, and they want to collect the bitcoin for their own purposes.
But the banning itself will not give an impact to the bitcoin mining, and I hope that will attract the price to moves to the highest price.

[arpon11]

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 have tried to follow this news when I come across your first post and I could not find reliable information and sources of information of this banning information! However, your prediction is on it way to come to pass as bitcoin is currently gathering great momentum for the next seriously bullish push which may make it to be heading towards $15000. If the information your friend is giving us are genuine then the supply will be limited which will give us more good prices in the future.

[nauane]

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.

News from china banning bitcoins, china banning miners etc will have no effect now on bitcoin price. These were old days in 2015- 2017 where such news had a big impact on bitcoin prices.

[shield132]

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.

What if we use 100% of our brain? lol
Have you heard anything about mining difficulty? Many miners = higher difficulty, less miners - low difficulty. If I could mine 1btc among 100 miners and now half of them are gone, situation has changed better for me and I can mine 2 btc instead of one. Also less difficulty opens path for others to join mining so this is just a task of time, difficulty will rise asap.
Also 90% of miners from chine can move their miners into areas where mining is legit and there are a lot of places, for those who had 1-2 antminer it doesn't worth but if I have 300 antminer, then I'll move of course and won't sell them. Consider this too while thinking around this task.

[RuralDistubance]

This thread is funny to me, did any of you guys even look at bitcoin's hash rate?    Oh and all the Chinese pools that are still mining right now you mean, those are the ones your friend said is down?   Funny how people just say stuff and no one really looks.    

my friend in China confirmed 90% of miner in china are shutdown

I just posted proof what OP posted is bullshit, refute it.   https://miningpoolstats.stream/bitcoin

[Roukawa]

China was once the largest bitcoin miners in the world even though generally their government doesn't recognise it.

[CASTIEL05]

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.

Nice idea but it may clog the network of bitcoin. Imagine the population of China and 90% of the miners will shutdown. It may devastate the network since miners are the key factor to send a certain transaction immediately. Well if that happens, I will stand and buy some rigs and mining stuffs so that I can mine in my country. Less miners, less competition and more income.

[trickyriky]

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.

News from china banning bitcoins, china banning miners etc will have no effect now on bitcoin price. These were old days in 2015- 2017 where such news had a big impact on bitcoin prices.

In a way, it can affect the Bitcoin price. I think the demand for this cryptocurrency will start growing. Hopefully, we will really see BTC which is offered for 50 thousand, and not much time will pass before it happens.

[bandungan]

Bitcoin price going up to $50,000 in just a short span of time is a dream. This might take time, it's too hilarious too think that the price of bitcoin will grow that much just  because China shut down 90% miners. This will also cause a huge problem with regards to scalability and the price of transaction fee since there will only be lesser miners.

this might not make sense even though china crypto users are big in the world but by only closing 90% of miners I don't think anything will change or until bitcoin reaches $ 50k that's too much, and we think bitcoin won't go up that fast only with closure problems miner in china

[john_nautica]

I'm not sure if China banned miners up to 70% and hopes that bitcoin will reach $ 50k in a fast time, bitcoin is currently hoping on sales and purchases so I think this might be one of the things that can't be predicted whether it can run well or not.

[kamilah147]

this is good news if true, hopefully bitcoin will continue to increase. better, don't trust negative news, we must believe that the BTC price will continue to increase

[Mrsparks]

Less miners = More Demand = increasing price, as simple as that.

You haven't thought of the harmful effect this would have on transactional performance of bitcoin before you made this conclusion.. I  think China banning mining will do more harm than good to bitcoin and other cryptocurrencies. The Chinese are reputable in the crypto mining industry and loosing them will thwart transactions on the blockchain..

[EdenHazard]

But I don't think bitcoin price had increased just because goverment of china decided to ban mining on their country. Because some information which has spread up was facebook allowed back for crypto ads and WhatApss platform provided for the user of cryptocurrency to send and receive bitcoin. However, as we all know the price of cryptocurrency greatly influenced by speculation but I can't believe it easily. Those price can goes up and goes down without any information so as I have to look the other side to decide that your predict is right. I prefer to look the movement price base on candle and sometimes I read some information too to strengthen the predictions I made.

[n0ne]

China banned miners, but this hasn't got effective. It is just a beginning with the National Development and Reform Commission to get public opinion on use, restrict or ban mining from the country. It is a continuous process in slowing down the cryptocurrency usage within the country. There is also some news that mining leads to waste of electricity. Till date there is nothing set as a deadline for the same based on news from the country.

[seoincorporation]

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.

If china shut down 90% of it's miners why the hash rate didn't go down?  Would be nice if you can share the source with us because after some search can't find real information about this topic and i'm not sure if china really ban btc.

[blockchainwriters]

china banning crypto mining is nt true and Chinese top lawyer said Chinese can hold btc legally as we already know china is positive towards cryptocurrencies

[deadsilent]

Shutting down miners from China can easily put the price to ceiling. But what will happen if there's no more miners to mine Bitcoin? Transaction costs will get higher since few miners are solving the blocks. If that happen what's the point of using Bitcoin? I heard that China has the biggest Bitcoin mining around the world. If it's true, then Bitcoin is screwed since many cryptocurrencies are now more efficient in terms of scalability. Bitcoin's may pump really high but this is not healthy in a long run for Bitcoin. Because we all know how important the miners in the Bitcoin ecosystem. There will be no balance.

[partysaurus]

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.

you seem to be right my friend lets see if ur right the whole way to 50k or if it will stop at ath and go down again like last time.