BTC to 50K, China banned miners

[MonsterV]

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.

the ban on mining btc by the Chinese government was carried out last year and this news was reappointed now. Last year many Chinese miners have stopped since the Chian government banned bitcoin mining. But today Bitcoin is capable of bullrun without a Chinese miner, miners do have an effect on the BTC price but it doesn't have a significant impact.

[Ibizugbe1]

My friend, less miners are not responsible for the bitcoin price growth, bitcoin will always grow as it's a valuable digital gold, we have many companies coming to invest here. We need more miners to solve the complex mathematical equation of bitcoin that has to do with discovering new block, validation and confirmation, few miners is not conducive for the ecosystem. More so, miners can move to non-mainland in china and continue their mining job.

[killat]

The price increase and decrease is based upon how we humans take it at any time.i.e. the market reaction.

So unless it has a great underlying value (which currently it doesn't), unpredictability is the SURNAME of Cryptocurrency

[Bitum]

If BTC has to storm price to the 50K, that will not be, because mining is banned in China, there will be other reasons for that)

[proTECH77]

~~
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.

For china to Ban a technology because of lack of understanding in the said technology may look bad on china. Banning Bitcoin aren't going to change anything concerning the technology, you ban it and another accept it period. Hope to see the surge in due time becasue of this reason.

[r1a2y3m4]

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,

Since you made the predictions a long time back, i would like to know how much money you made in the future trading market, since you had accurate data on how the market goes, you might have made a ton of money, i would like to see your earnings you made in the past few days simply because you could accurately predict the market .

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

How will you correlate this, you think that the extinct miners will purchase the coins since they are not able to mine it, even if there is only one miner, the amount of bitcoin released for each block confirmation is the same and there is no inflation or deflation on that aspect, if there is more demand then the price will increase but what correlation does it have when it comes to miners, if you have a certain answer i would like to know  .

I don't know about you but I think that this kind of logic is correlatable with each other. Even if they are miners, they are adopting cryptocurrency which is a good state of crypto. Still, they are transacting bitcoin, getting bitcoin and using it for a purpose.

[tytanhamon04]

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.

On the one hand, you claim true, but I think that the faster all bitcoins will be mined the demand for them will be greater ! I believe that bitcoin will be 50 000 $ for one coin and this is not the limit but I think that the aggressive growth of the market is not needed.

[Kelvinid]

How China will affect Bitcoin/crypto market, they don't give any and so we don't need to be afraid if they will banned miners cause in the first place they banned crypto years ago. Maybe we could see that they contributed a lot before and we learn from than when China surprisingly banned crypto, but for now, I never believe it will still cause down falls of prices.

[minersday]

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 sure are you that the Chinese government has banned Bitcoin mining in China? This speculation has been in the crypto space for a while now but there are no evidences and proves to back this claims and speculations. Looking at the current state of the crypto market, the factors contributing to the massive increase in the market value of Bitcoin can't be determined or seen.

[Nowherman]

It seems to me that a mining ban in China, on the contrary, will cause a negative reaction in the cryptocurrency market and entail a decrease in the Bitcoin price. This has happened many times before.
For example, a ban on ICOs was imposed in China in September 2017, and the price of Bitcoin collapsed.

[Ozero]

The ban on mining Bitcoin in China has virtually no effect on the price of Bitcoin. Even if we assume that the number of miners decreases, the same number of bitcoins will be created vseravno for a certain time, the remaining miners will simply be easier and faster to mine them. The news of a possible ban on Bitcoin mining in China had not even affected the price of Bitcoin earlier. This ban will not affect the market even after the implementation of such a ban.

[niisarearning]

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.

As a newbie your having good speculation skill . Yes even i am also thinking same but already most of the bitcoins are already mined so there is no meaning of less supply . More over thereis lots of things impacting bitcoin price . Like trust on Bakkt or whales arrival after crypto summer there is lots we cant take only this scenario for this price hike.

[NeuroticFish]

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

As a newbie your having good speculation skill .

No. Less miners = Lower difficulty = cheaper coins for the other miners -> possibility to actually see the price falling.
So imho the "speculation skill" was simply luck. Starbucks and the others accepting Bitcoin may have had much bigger effect that the alleged mining stop.
And I say alleged because the hash rate didn't show a significant drop that could back OP's theory.

[BeManga]

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.

in my opinion its the opposite when there are less miner mining difficulty will drop there will be less competitor
the miner will have better chance to earn more bitcoin
if miner can earn more bitcoin they will sell it for profit and price will drop
in my opinion the price rise because of the incoming halving
when it occur block reward will be divided by two instead of 12.5 it will be 6.25
so for some people if they buy this year they can get cheaper bitcoin today than mining next year.

[Mike Mayor]

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 don't need your friend in China to confirm anything. Bitcoin runs on the blockchain which allows anyone to check what pools are mining where and with what hash power. You can look at the Chinese mining pools and check that way. Then you know it is a fact and not the word of a friend. Are you sure they have banned mining in China? Where is this info from? So much of this sort of this is FUD so who knows what to believe.

In any case when has banning anything ever done any good or really affected much? People will mine. I don't even know how they managed to mine for free for so long before the government changed that. It was so unfair on the rest of the miners for Chinese miners to get basically free electricity so its pure profit. The rest of us right now struggle to break even. Electricity just went up again so it's insane. If miners in China managed to mine for free for so long then I am sure they will find a way around this.

[vit05]

People will start to say they have predicted the prices would go up because of this, and that. But the truth is, you could predicted only 2 scenarios. Go up, or go down. And there was a lot of people saying Bitcoin would go below 3k. I personally thought was a great moment to cumulating. And that was what I did.

Today we have many great news. Especially about Bitcoin futures and institucional investidors. And I do not think China ban is a great motive to this bull run.

[pundit]

Whenever there is a strong trend many predictions come in the way. As per thread starter statement if there are lesser miners then BTC price will go high which does not seem logical. Market runs in cycles,there are downtrends, sideways and bull trend. BTC was in bear trend since last year till 3K range and then there was a sideways trend. After sideways trend it may go down further or reverse from there, since it was a long bear trend it was expected to rise BTC from there. If you are riding this bull run better manage your positions wisely instead of waiting for BTC to reach $50K.

[CryptoBry]

Do you think about the negative effects of mining restrictions in China?  how the system can confirm millions of blocks without miners?  but on the other side, this is good news.  because China is greedy and they want to create a monopoly market.  when you make a thread about BTC price speculation.  and your predictions are correct like todsy.  what is the basis of your prediction?

In my opinion, Bitcoin actually just ignored any news with the China ban of the miners. I am sure that soon these miners can find suitable locations for their business so for now the impact is not given much weight by the market. Having less miners does not mean that Bitcoin can go high there is no connection with that I think and having more miners does not mean that Bitcoin can go down.

[lupinvn]

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?

[jakelyson]

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

The way I see it, Less Miners == Less Secure == Less Trust == Less Investors == Less Price. Bitcoin will still produce 12.5 BTC per block even with less miners, so how will that contribute to more demand?