Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.
I don’t think that Bitcoin mining is illegal in China, though they have tried to ban it, from what I’ve learnt, but there is really no reason that they can use to declare it as illegal. So, people are still able to mine Bitcoin, the only problem is exchanges and when there are no exchanges for miners to sell their coins they might get discouraged. And moreover there is going to be a Chinese cryptocurrency very soon, they haven’t announced a particular date but they have made it clear that they are creating their own cryptocurrency and it will soon be released.
China's biggest positive thing is their population and when more number of people from them are believing into the future of cryptos then their government's stand can do anything against bitcoin or crypto space.