China might really be out of Bitcoin and the cryptospace

[bbc.reporter]

@temple. Agreed! I have read some news articles on how China has militarized its southern border facing India and had a skirmish versus the Indian military using spiked clubs that killed Indian soldiers and their captain. You can google China India border fight to find that article.

They might be expanding their empire hehehe.

They have been expanding their empire, checked the Philippine West Sea and Scarborough issue, they are expanding territories and aggressively building military installations to that island who is still in dispute.

So regardless of their plans on bitcoin, whether they are out for good or not, there are more pressing issues on their side, specially trade and military expansion around that region.

China has also declared that they are strengthening their military ties with North Korea. I speculate next would be Iran, Pakistan and some countries in Asia that have become victim of China’s debt trap policy. Also, one of the first signs of this forewarning is when your country allows testing of China’s vaccines on your children.

There are some people in China that says the Chinese government wants to begin giving vaccines to their children, however, it requires more testing on real children. I speculate it would be first tested on the children of countries indebted to China.



The North Korean and Chinese leaders expressed their desire Sunday to further strengthen their ties as they exchanged messages marking the 60th anniversary of their countries’ defense treaty.

Source https://apnews.com/article/health-china-coronavirus-pandemic-north-korea-8fc7a269318c481035c43b030754cbf0

[1714660076]

1714660076

[777Jolami]

China has a huge influence on the bitcoin market, this is proven by market history, 2018 they created a deep pit.  The market is suffering from many factors, with great negative influence also from China's mining crackdown.  But I think the situation would be different, they made a mistake.  In the short term bitcoin price could move sideways or down to $20k but long term it's a pump, just wait I guess!
Fud news, charts and indicators are speaking for the short.

[temple]

@temple. Agreed! I have read some news articles on how China has militarized its southern border facing India and had a skirmish versus the Indian military using spiked clubs that killed Indian soldiers and their captain. You can google China India border fight to find that article.

They might be expanding their empire hehehe.

They have been expanding their empire, checked the Philippine West Sea and Scarborough issue, they are expanding territories and aggressively building military installations to that island who is still in dispute.

So regardless of their plans on bitcoin, whether they are out for good or not, there are more pressing issues on their side, specially trade and military expansion around that region.

China has also declared that they are strengthening their military ties with North Korea. I speculate next would be Iran, Pakistan and some countries in Asia that have become victim of China’s debt trap policy. Also, one of the first signs of this forewarning is when your country allows testing of China’s vaccines on your children.

There are some people in China that says the Chinese government wants to begin giving vaccines to their children, however, it requires more testing on real children. I speculate it would be first tested on the children of countries indebted to China.



The North Korean and Chinese leaders expressed their desire Sunday to further strengthen their ties as they exchanged messages marking the 60th anniversary of their countries’ defense treaty.

Source https://apnews.com/article/health-china-coronavirus-pandemic-north-korea-8fc7a269318c481035c43b030754cbf0

I am thinking for a while now that it is an illusion to believe that our generation will get away with no big war at all. I just checked the biggest military list in terms of personnel as of 2021 and it says that China has a little bit more than two million active soldiers. I don't believe that number is accurate. I can imagine that it is much much bigger than that. North Korea is also big although I guess they lack behind when it comes to technology, but who knows... Now that they might cooperate more closely with China, the technology issue is kind of resolved for them as well.

[bbc.reporter]

@temple. History repeats and has a tendency to repeat itself. It has been happening in the past when there is a new rising power to challenge the current super power, the current super power will always protect its position.

In any case, Beijing has confiscated more than $100k worth of miners and flattened them with an industrial steamroller.

https://mobile.twitter.com/btcinchina/status/1415923704375123970?s=12

[Ararbermas]

I hope that they're really out of the cryptospace for good because they don't really contribute anything but FUD and negativity to the market. Of course I am talking about the government, the people in that country just have to make do with how they are going to access their accounts and coins.

from the start they are always the reason why people alway going crazy in the market just to dump due to some negative news that comes from their country.. And now for sure a lot of people clapping their hands because they're out in the space. And i believe that's the reason why market stop decreasing as well even though there's a negative news from them , wherein perhaps a bunch of investors see that it cannot make an impact after all..

[Wind_FURY]

@temple. History repeats and has a tendency to repeat itself. It has been happening in the past when there is a new rising power to challenge the current super power, the current super power will always protect its position.

In any case, Beijing has confiscated more than $100k worth of miners and flattened them with an industrial steamroller.

https://mobile.twitter.com/btcinchina/status/1415923704375123970?s=12

That’s a symbolic action from the Chinese government depriving people from financial freedom. They will sell it if they didn’t believe that there was a need to spread an anti-Bitcoin propaganda. But it’s OK for Bitcoin. It survived its first serious attack from a state actor.

[sherenikaw]

I've read articles like that where there are several countries including China that are againts crypto. It's true that we can't compare countries with each other with the policies of each country. All countries have their own policies for accepting or against crypto. As someone who has entered the crypto world, of course the news made me sad but somehow it all happened. Anything can happen in the crypto world. As long as my country can still accept crypto then I will be calm and I also know that there are many other countries that accept crypto. Of course that's good apart from the news. So as long as crypto is still well received then I think crypto can also grow.

[cheezcarls]

They’re anti-Bitcoin but pro in blockchain. This is absurd. How would a blockchain fully function without crypto (unless they are launching their own CDBC). China doesn’t want to innovate and I’m pretty sure that they would be left behind later on in terms of adopting new stuff that would benefit their country’s economy.

Too many restrictions in China like the Great Firewall, doesn’t give a lot of freedom for the Chinese community. At least they’re not that worse like North Korea.

[taufik123]

They’re anti-Bitcoin but pro in blockchain. This is absurd. How would a blockchain fully function without crypto (unless they are launching their own CDBC). China doesn’t want to innovate and I’m pretty sure that they would be left behind later on in terms of adopting new stuff that would benefit their country’s economy.

Too many restrictions in China like the Great Firewall, doesn’t give a lot of freedom for the Chinese community. At least they’re not that worse like North Korea.

Bitcoin and blockchain are different things. China is no longer pro with bitcoin and prohibits bitcoin in its country. But China is developing their own blockchain and wants to create its own ecosystem. China is doing innovations that I don't think will be left behind by the others. China's recent decisions are indeed very contrary to bitcoin and make bitcoin price crash. but behind that china is building their own ecosystem.

[mrongoz22]

China is a communist country that does everything possible for everyone to submit to them, their people are afraid to fight the government because they will be subject to multiple fines, bitcoin mining has also been stopped in China, so it's only natural that China will run out of bitcoin one day, maybe the people they will go to other countries to find bitcoin..

[randegibran]

I don't think this is the end of bitcoin in China because they can also turn things around for the crypto world, because the mining carried out in that country is not a national scale and in some surrounding areas there are also those who carry out crypto business transactions, I This feeling will only be temporary and China will also one day adopt bitcoin like other countries in the world have done

[Kakmakr]

You know the sad thing is.... it spilled over to Japan now. Japan was one of the first countries that accepted Bitcoin as a "Currency" and now they are busy creating their own "digital currency" and they suddenly established a committee to investigate the impact that "Stable" coins has on their economy.

This is becoming a trend in governments now.... they decide to create their own "GovCoins" and then Bitcoin is suddenly the enemy that are damaging their economy. 

[DapanasFruit]

And that is big good news in the long-run. Once cryptocurrency including Bitcoin mining is out of China, at least the industry can be totally free from any FUDs coming from China. We will not any more be worrying and getting influenced by anything coming from China since the connection to cryptocurrency is not there anymore. So the question is: Will this be coming true soon, or China up to another kind of game in here?

[Mr.sprin]

China banned bitcoin miners but I'm surprised my friends in China are still holding bitcoin and until now they are still investing in other coins like ETH coin, so I asked if this issue was intentionally created as some kind of Chinese drama banning bitcoin and when did the price drop they bought large amount of bitcoins try to imagine if that really happened,

[Taskford]

China banned bitcoin miners but I'm surprised my friends in China are still holding bitcoin and until now they are still investing in other coins like ETH coin, so I asked if this issue was intentionally created as some kind of Chinese drama banning bitcoin and when did the price drop they bought large amount of bitcoins try to imagine if that really happened,

For knowing that it really tells that they are just using this fud to create any confusion regarding on a big country like china for not supportinv bitcoin and I really believe that they will not out on the bitcoin scene since I know their government consider also the new technology made by crypto industry. Maybe for now they have this rule running but I believe that this will not take long as many of their citizens will not follow them and continue to buy bitcoins together with altcoin the same with your friend.

[temple]

@temple. History repeats and has a tendency to repeat itself. It has been happening in the past when there is a new rising power to challenge the current super power, the current super power will always protect its position.

In any case, Beijing has confiscated more than $100k worth of miners and flattened them with an industrial steamroller.

https://mobile.twitter.com/btcinchina/status/1415923704375123970?s=12

Lol! I thought you were being sarcastic! Is that supposed to be funny? ...

$100k worth of miners? It looks like a bit more than that I suppose. Funny comment on Twitter: doesn't it make a 51% attack harder for them now. Seriously, that's just ridiculous. As if such a video has any impact on anyone. I can only laugh about it.

[pinggoki]

It doesn't really matter whether China is in or out of the cryptocurrency industry. Yes they hold the largest population of people in the planet and yes they are the fastest growing country in this planet in terms of GDP, but we have to keep in mind that there are other countries out there that could use our help and support, countries like those in the continent of South Africa that may not be growing fast in terms of economy but are certainly progressively growing in other aspects. China is just a piece of the puzzle, and if we convince the rest of the world to go crypto, there's a huge chance they will retract these ordinances and join the wave too.

[Yamifoud]

It doesn't really matter whether China is in or out of the cryptocurrency industry. Yes they hold the largest population of people in the planet and yes they are the fastest growing country in this planet in terms of GDP, but we have to keep in mind that there are other countries out there that could use our help and support, countries like those in the continent of South Africa that may not be growing fast in terms of economy but are certainly progressively growing in other aspects. China is just a piece of the puzzle, and if we convince the rest of the world to go crypto, there's a huge chance they will retract these ordinances and join the wave too.

Precisely, and the future of Bitcoin doesn't just rely on them, there are still a lot of countries that continue to support cryptocurrency and the US is one of those that could certainly boost the market.
For so many times that China makes these actions towards their people who struggle to invest in crypto space, I think we have not been affected anymore and Bitcoin will still be able to survive without China. We have tested this multiple times and we are still fine and healthy.

[franky1]

In any case, Beijing has confiscated more than $100k worth of miners and flattened them with an industrial steamroller.

https://mobile.twitter.com/btcinchina/status/1415923704375123970?s=12

$100k...pfft

looks like old s9's too me
probably at the end of their life cycle anyway

seeing the video and guessing a 15x15 grid(225). upto 20x20(400)
(couldnt be bothered to waste time actually counting accurately)

thats like combined 300kwh for 3.2phash upto
                             540kwh for 5.7phash

they would have only got $22k-$40k if they sold them second hand anyway so no major loss. definitely not $100k loss


yet for 30-50 s19pro's they can now do the same hashrate for 98kwh-160kwh
pretty much save 3x their electric costs by calling the confiscated old crappy s9's dead anyway

[Tina H]

When mining was banned in China, 70% of the computing power was in China, indicating that the Chinese people still love cryptocurrency, but the national government is opposed to it. Because China has its own national currency, the Chinese government believes that virtual currency that cannot be controlled will threaten it. As for my own currency, I have recently closed a lot of encryption-related websites and related news. Although it has affected the market, it is only temporary.