China Declares War on Bitcoin (?)

[Hydrogen]

https://www.youtube.com/watch?v=4hZU7qska34

China Uncensored
1.56M subscribers

China declares war on Bitcoin. Inner Mongolia, where a huge amount of bitcoin mining occurs, will be banning it. But the Bitcoin news is part of a broader attempt by the Chinese Communist Party to create a national digital currency that the Party controls.

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China claims it must "crackdown" on bitcoin to save the environment and the planet.

Given that a high percentage of cryptocurrency (pow) mining is powered through hydroelectric and green energy. The cost of which helps fund the expansion and development of cleaner non fossil fuel based plants around the world.

Perhaps we can propose an alternative if china is serious about fighting climate change and being Greta Thunberg's proud poster boy.

Chinese companies to build 700 coal plants in and outside China

Citing data gleaned from the world’s biggest developers of coal-fired power plants, Urgewald found that of all the new coal generation expected to go online over the next decade, Chinese companies will build nearly half of it. Specifically, that means 700 new coal plants, with most to be built in China, and about a fifth outside the country, according to figures provided by Urgewald and reported by the New York Times:

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Overall, 1,600 coal plants are planned or under construction in 62 countries, said Urgewald, which uses data from the Global Coal Plant Tracker portal. The new plants would expand the world’s coal-fired power capacity by 43 per cent.

The fleet of new coal plants would make it virtually impossible to meet the goals set in the Paris climate accord. Electricity generated from fossil fuels such as coal is the biggest single contributor globally to the rise in carbon emissions, which scientists agree is causing the earth’s temperatures to rise.

https://www.mining.com/chinese-companies-build-700-coal-plants-outside-china/

China is known for having 14 out of the top 30 most polluted cities on the planet due to its heavy reliance on coal. In some places the air pollution is so bad, it is claimed simply living and breathing the air is like smoking two packs of cigarettes a day.

I am curious to know what peoples thoughts on these topics are.

Could the environment better be protected by china replacing its 700 planned coal power plants with cleaner options.

China is emerging as a hub for solar panel and windmill manufacturing. It is well suited to leverage EV vehicles due to the abundance of rare earth minerals within china's own borders. Its policy of pursuing coal energy in the face of cleaner and more affordable power options remains an enigma to me. Fossil fuel based power is heavily criticized and attacked by the media in the west. While in the east it is embraced with bold plans in motion to extend the scale of coal based operations. How can this discrepansy be explained. What are the motives and reasons behind it.

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[androyster]

That's pretty royal coming from the WORLDS LARGEST POLUTER.

[stomachgrowls]

Its just trying to make those reasoning to be on concern with pollution or saving up the environment and the planet is just a bullshit thing that they say.

They arent banning just for that sole reason, they are against or banning it just simply its uncontrollable.For a country does have this kind of government then its no surprise that
they would really be hating anything that cant be controlled nor traced.

They can ban all the want and try to derail the true reason behind.They are just trying to push that Digital Yuan. Am i right?

Edit:

Can you imagine what a nightmare digital Yuan would be?  They would build in all sorts of tracing mechanisms, backdoors and BS.  No one trusts communists.  Communism is anathema to free markets and liberty.

Nah, even how it becomes a nightmare but still the people or the citizens itself wouldnt really be having any option.Once they do mandate on using it on full
scale as if they do have the choice to reject or refure?

It's a huge conflict if they try to impose that kind of actions regarding banning bitcoin. Communist country is very problematic on this matter because they can't control digital currency. Their people prefers to use bitcoin for earning passive income instead of their own currency, which I think they're about to lose control over it.

They dont really like that and thats the reason on why they do ban out all of things that will really be connecting to anonymity or having no control into its citizens just like
on cracking out those illegal online casinos on where Chinese is the primary customer or it.

[androyster]

Its just trying to make those reasoning to be on concern with pollution or saving up the environment and the planet is just a bullshit thing that they say.

They arent banning just for that sole reason, they are against or banning it just simply its uncontrollable.For a country does have this kind of government then its no surprise that
they would really be hating anything that cant be controlled nor traced.

They can ban all the want and try to derail the true reason behind.They are just trying to push that Digital Yuan. Am i right?

It's kinda ironic isn't it?  A dude from China creates bitcoin and his own country tries to ban it.

[Hippocrypto]

Its just trying to make those reasoning to be on concern with pollution or saving up the environment and the planet is just a bullshit thing that they say.

They arent banning just for that sole reason, they are against or banning it just simply its uncontrollable.For a country does have this kind of government then its no surprise that
they would really be hating anything that cant be controlled nor traced.

They can ban all the want and try to derail the true reason behind.They are just trying to push that Digital Yuan. Am i right?

It's a huge conflict if they try to impose that kind of actions regarding banning bitcoin. Communist country is very problematic on this matter because they can't control digital currency. Their people prefers to use bitcoin for earning passive income instead of their own currency, which I think they're about to lose control over it.

[androyster]

Its just trying to make those reasoning to be on concern with pollution or saving up the environment and the planet is just a bullshit thing that they say.

They arent banning just for that sole reason, they are against or banning it just simply its uncontrollable.For a country does have this kind of government then its no surprise that
they would really be hating anything that cant be controlled nor traced.

They can ban all the want and try to derail the true reason behind.They are just trying to push that Digital Yuan. Am i right?

It's a huge conflict if they try to impose that kind of actions regarding banning bitcoin. Communist country is very problematic on this matter because they can't control digital currency. Their people prefers to use bitcoin for earning passive income instead of their own currency, which I think they're about to lose control over it.

Can you imagine what a nightmare digital Yuan would be?  They would build in all sorts of tracing mechanisms, backdoors and BS.  No one trusts communists.  Communism is anathema to free markets and liberty.

[tbct_mt2]

China again and again. More than 10 years and people are manipulated by news from China. Let me remind you that if news from China can dump bitcoin, it will also be able to pump bitcoin.

The last pump with news from China is Xi pump in October 2019. That news: CRYPTO MARKETS PUMP AS PRESIDENT XI CALLS BLOCKCHAIN A ‘BREAKTHROUGH’

More than one year from that news, do you think China plays big role to the growth of blockchain industry?

[bitmover]

China is known for having 14 out of the top 30 most polluted cities on the planet due to its heavy reliance on coal. In some places the air pollution is so bad, it is claimed simply living and breathing the air is like smoking two packs of cigarettes a day.

I am curious to know what peoples thoughts on these topics are.

Could the environment better be protected by china replacing its 700 planned coal power plants with cleaner options.

China is emerging as a hub for solar panel and windmill manufacturing. It is well suited to leverage EV vehicles due to the abundance of rare earth minerals within china's own borders. Its policy of pursuing coal energy in the face of cleaner and more affordable power options remains an enigma to me. Fossil fuel based power is heavily criticized and attacked by the media in the west. While in the east it is embraced with bold plans in motion to extend the scale of coal based operations. How can this discrepansy be explained. What are the motives and reasons behind it.

Although China energy matrix relies heavily on coal, they also have the biggest hydro powerplants in the world
Three_Gorges_Dam

And the mining farm are exactly near hydro power plants, because this is where energy is cheaper. So, bitcoin mining is not responsible for polution in china.


Certainly make the world a cleaner place is not bitcoin's goal. If china, or US, or whaetever government wants the world to be cleaner, they need to invest in cleaner energy generation.

Certainly China communist party is not happy that it cannot control bitcoin, and it will start bashing it. I hope that this weird shift of events may lead to a mining decentralization, with miners moving away from china.

[Darker45]

I didn't finish watching the video. The title seems to be a clickbait. It wasn't delivered as a legitimate news either. The broadcaster himself hadn't have much to say, much less sufficient information, to support the weight or the impact of the title. He only had something to say like the channel is demonetized, accepting donation in Bitcoin, and so on.

Furthermore, I don't think this news is reflective of what is truly happening. This is pure exaggeration. I don't even think China is feeling a bit threatened by Bitcoin. If she were, she could have declared once and for all that doing anything related to Bitcoin in the country should perish in 24 hours. China is unimaginably powerful, especially within her land. I haven't heard of Bitcoin miners scampering away looking for another place outside China to continue their business.

[slaveforanunnak1]

2017 called. wanted its fud back

[meanwords]

China full of hypocrisy and BS again. How about they start with their own pollution? how about they prohibit banks because banks are more significantly more resources expensive than Bitcoin mining? How about they actually start doing something instead of doing BS like this? Of course they won't do that.

[cabron]

2017 called. wanted its fud back

We heard it before. This is just going to be on the paper. China is pro-business, if they can get money out of it they will make money out of it including mining. As long as miners pay their energy bills, they will have no problem with it.

China's government may hate BTC for they can't control it, but if they announce they are going to ban BTC another country will take advantage of it and will start accepting. BTC is rare. The Chinese government knew they can use BTC as their wealth. They may even be buying the fresh BTC from the miners.

[pooya87]

Can you imagine what a nightmare digital Yuan would be?  They would build in all sorts of tracing mechanisms, backdoors and BS.  No one trusts communists.  Communism is anathema to free markets and liberty.

LOL. Not at all.
China has been on the path to become the world's biggest economy (hint that's why US has been afraid and started a war with China a couple of years ago which is escalating every day), one step in becoming the dominating world economy is to have their currency replace US dollar. Things like "Digital Yuan" are meant to serve that purpose. It would be just as safe and just as centralized and just as corrupt as any other digital currency you are using in the existing banking system in any other country.

None of it has anything to do with bitcoin though.

[Xampeuu]

China full of hypocrisy and BS again. How about they start with their own pollution? how about they prohibit banks because banks are more significantly more resources expensive than Bitcoin mining? How about they actually start doing something instead of doing BS like this? Of course they won't do that.

I think the Chinese want to always be in front and in control, when things don't seem to be achieved, they prefer to create their own shows. we know mchina is the biggest bitcoin mining country, so they want to master cryptocurrency their way anyway

[davis196]

I don't know if this news is fake or not,but a crypto mining ban in China was pretty much expected.
We don't know what's inside the mind of Chinese communist leaders.Crypto mining isn't the biggest polluter in China,but it is definitely an easy target for a ban,because the social cost(lost jobs and unemployment) will be pretty low.
The big question is why they are going it now(if this news is really true)?Crypto mining was as polluting in 2015,2016,2017 or 2019 as in 2021.
Saying that they are banning mining because of environmental policies is a bullshit excuse.

[AniviaBtc]

China again and again. More than 10 years and people are manipulated by news from China. Let me remind you that if news from China can dump bitcoin, it will also be able to pump bitcoin.

The last pump with news from China is Xi pump in October 2019. That news: CRYPTO MARKETS PUMP AS PRESIDENT XI CALLS BLOCKCHAIN A ‘BREAKTHROUGH’

More than one year from that news, do you think China plays big role to the growth of blockchain industry?

We all know that China does really have an issue with bitcoin because they are against it and they want to make their own crypto.

China is a developed country and they are strong in man power and pushing a certain cryptocurrency in their country is just easy compared to other country.

And my answer to your is YES, Chinese people will really play a big role in the growth and development of blockchain technology around the world.

[Kong Hey Pakboy]

Pretty hypocritical for Chinese Community Party(CCP) to ban bitcoin when they are the only one hodling the total bitcoin in China. I knew that when these CBDC thing goes on the road, bitcoin and other cryptocurrency is definitely going to be affected the most and with the Great Firewall of China, I think that they can do the bitcoin prohibition in their country.

[mezzaluna]

Its just trying to make those reasoning to be on concern with pollution or saving up the environment and the planet is just a bullshit thing that they say.

They arent banning just for that sole reason, they are against or banning it just simply its uncontrollable.For a country does have this kind of government then its no surprise that
they would really be hating anything that cant be controlled nor traced.

They can ban all the want and try to derail the true reason behind.They are just trying to push that Digital Yuan. Am i right?

They really are trying so hard to control something uncontrollable which now resulted in a conflicted nation. Their country is always brewing up something bad even though they are researching about it. Their country is the leading country that contributes to the most emissions of Carbon Dioxide which is really bad for the people living there and for the planet. If they really want to save the planet, this would not be their first move but other actions like stopping some of the main reasons why they emit so much Carbon Dioxide. They are just trying to save their faces by trying to blame it on something that they cannot control.

[orions.belt19]

Not much of an environmental or energy expert but is building 700 coal plants in replacement really the better alternative? Sounds sus to me. There's so many other energy alternatives there. Why not builder solar, thermal plants or install wind mills? Do they even know the energy consumption of mining? Otherwise, its probably just a cover up as crackdown on crypto..

Chinese social media Weibo suspends Huobi, OKEx and Binance accounts just today is also another indication that they're just trying to drive out crypto, most probably because this is not within their control and regulation.

[NeuroticFish]

Always question the declared reasons for any move the Chinese government does. Imho the "crackdown" is unrelated to pollution, consumption, planet and even Bitcoin mining. It may be related to the fact they have other plans with the population from there.

And on this "war on Bitcoin" (lol!) topic, I'll come with the fresh news: Chinese Public Firm to Buy $155M of Bitcoin Mining Hardware