Yunnan Provincial Energy Authority Disables Miners

[zasad@]

https://finance.sina.com.cn/tech/2021-06-12/doc-ikqciyzi9219950.shtml
In this article, it is written that the Yunnan Provincial Energy Authority will cut off the power supply for mining farms that do not have permission to do so.
China has seriously decided to fight bitcoin in order to push its own CBDC.
But who needs a Chinese centralized payment system?

[1715225802]

1715225802

[SFR10]

https://finance.sina.com.cn/tech/2021-06-12/doc-ikqciyzi9219950.shtml
In this article, it is written that the Yunnan Provincial Energy Authority will cut off the power supply for mining farms that do not have permission to do so.

I'm not sure which source to trust nowadays, but I'm leaning more towards the following instead: China’s Yunnan Province Did Not Order Miners to Shut Down, Despite Reports

China has seriously decided to fight bitcoin in order to push its own CBDC.
But who needs a Chinese centralized payment system?

The Chinese government, that's it.
^{- At one point, they were even looking into limiting the amount each individual could have [not sure if that's still the case].}

[NeuroticFish]

The hash rate went down 178 EH/s (9 Jun) to under 110 EH/s (10 Jun) and it started fluctuating between 110 and 140 EH/s.
I guess that if they would have been supposed to be down, the hash rate wouldn't grow back this fast.
These fluctuations seem more consistent to hardware upgrades people were talking about on another thread.

[avikz]

https://finance.sina.com.cn/tech/2021-06-12/doc-ikqciyzi9219950.shtml
In this article, it is written that the Yunnan Provincial Energy Authority will cut off the power supply for mining farms that do not have permission to do so.
China has seriously decided to fight bitcoin in order to push its own CBDC.
But who needs a Chinese centralized payment system?

Such news are not surprising when I see the origin of the news. It's China! Come on, what else do you expect from an authoritarian government run by a power hungry communist. When they don't get to deal with a problem directly, they try mean ways to deal with it. China understands very well that bitcoin is beyond their control and that's why they are trying to eradicate miners from their soil.

But that makes complete sense! They have their own version of Twitter, whatsapp, facebook and even windows. So why don't they get their own version of Bitcoin controlled by their very own government. Problem solved!

[Yaunfitda]

And the hashrate continues to drop, fluctuating now from 85 TH/s to 90 TH/s

https://www.blockchain.com/charts/hash-rate.

Maybe there is some kind of truth that China has really taking the plug from the miners. And I speculate that the miners who has lost her are now dumping their BTC too in order to established new businesses or move somewhere else wherein the government are not going to touch them.

[Kong Hey Pakboy]

Maybe there is some kind of truth that China has really taking the plug from the miners. And I speculate that the miners who has lost her are now dumping their BTC too in order to established new businesses or move somewhere else wherein the government are not going to touch them.

I think that they really are pulling the plug, no more doubts because they want to try and make sure that there's no competition for their Digital Yuan. I suspect that some of them are probably migrating if not all of them because I think it's pretty hard hitting for them what China did to these miners, there's one thread that says that China isn't against bitcoin but is against the energy consumption that bitcoin needs which is kind of a BS to me.

[NeuroticFish]

And the hashrate continues to drop, fluctuating now from 85 TH/s to 90 TH/s

https://www.blockchain.com/charts/hash-rate.

Actually the worse until now was in 28 Jun (66.76 EH/s) and now it's (more or less) recovering, since we're at 96.5 EH/s.
So the "continues to drop" part is no longer correct. https://www.coinwarz.com/mining/bitcoin/hashrate-chart

[yhiaali3]

For the first time I see communism unite with capitalism against one enemy!!! Bitcoin!!! Is it the common enemy of communism and capitalism?
The Chinese government is waging a war against mining and banning miners from working, and now Greece is doing the same!!! Also yesterday there were Elon Musk tweets against Bitcoin under the pretext of preserving the environment!!!
Also, don't forget the strong campaigns that Britain, Canada, Taiwan and Japan are waging against the Binance platform, and the target is Crypto of course!!! What's going on here guys!!!
Is this synchronization a coincidence or are there secret deals between governments to eliminate Bitcoin and Crypto? Have the communist and capitalist countries finally agreed!!!

[malevolent]

Actually the worse until now was in 28 Jun (66.76 EH/s) and now it's (more or less) recovering, since we're at 96.5 EH/s.
So the "continues to drop" part is no longer correct. https://www.coinwarz.com/mining/bitcoin/hashrate-chart

Two days have passed since the last retarget and cryptothis projects the next difficult to be 2.8-11.7% lower. We may well see another, most likely smaller this time, difficulty decrease, although I'm curious how long until some disconnected hardware resumes mining (and how much of it).

https://diff.cryptothis.com/