China Ban and the mining exodus

[TangentC]

Permanent Bans of Bitcoin PoW mining in Kazakhstan , not far away.
China Smarten up, and so will Kazakhstan ,about the dangers of PoW to the people and energy grid,
although odds are Texas holds out until their power grid is destroyed and throws Texas back to the stone age for years.  
Watch Texas growing power nightmare here : http://www.ercot.com/
Odds are less than 2 years until a Texas Power Grid collapse during a winter storm, thanks to the increased energy drain by PoW bitcoin miners.

If you're going to make such a criticism, you'd better post a link that works, that's accessible to everyone:

You can't access a public .com domain from an IP address registered in Spain.
Sounds like you need a VPN and quit blaming your lack of ability on others.  

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[TheGreatPython]

A lot of countries have been benefitting from China ban on cryptos. Due to the ban, countries that made borders with China saw their crypto mining industry boom. Kazakhstan is one of the most recent countries where the crypto mining interest is surging as "at least $1.5B in economic activity from crypto mining within 5 years" is expected to hit the country. The investment that crypto will bring to the country will be a boost for Kazakhstan's development.

Well, I guess it’s not really bad that China has decided to step out, since that has brewed the opportunity for other countries to step up in their cryptocurrency mining game. You really never know what you can do until you’re pushed to the wall: at the first time when China’s government were threatening to ban cryptocurrency in their country, a lot of people were afraid that it was going to affect the cryptocurrency community and the market, because China as of then holds the largest mining share in cryptocurrency, especially Bitcoin.

So, a lot of people felt that they were everything and that if they should leave that it was going to affect the market seriously, but now, so far since they have gone, we haven’t seen any changes at all. The market has continued to flourish.

[Shenzou]

A lot of countries have been benefitting from China ban on cryptos. Due to the ban, countries that made borders with China saw their crypto mining industry boom. Kazakhstan is one of the most recent countries where the crypto mining interest is surging as "at least $1.5B in economic activity from crypto mining within 5 years" is expected to hit the country. The investment that crypto will bring to the country will be a boost for Kazakhstan's development.

Well, I guess it’s not really bad that China has decided to step out, since that has brewed the opportunity for other countries to step up in their cryptocurrency mining game. You really never know what you can do until you’re pushed to the wall: at the first time when China’s government were threatening to ban cryptocurrency in their country, a lot of people were afraid that it was going to affect the cryptocurrency community and the market, because China as of then holds the largest mining share in cryptocurrency, especially Bitcoin.

So, a lot of people felt that they were everything and that if they should leave that it was going to affect the market seriously, but now, so far since they have gone, we haven’t seen any changes at all. The market has continued to flourish.

Although the initial backlash of China banning crypto mining had a some impact on the price and it made it dip, but it didn't affected as much because this is was a topic that the Chinese government has been putting it out there for a long time but this time they took harsh actions , and anyone who was affected by it had the time to relocate or find a solution, and this ban had more positive than negatives because there were a lot of doubts about how decentralized the network is if the majority of bitcoin was mining from china, and with them out of the picture we are starting to see some balance in mining power all over the world.

[Wildwest]

Of course this is an opportunity for countries that border China, because they can be targeted by Chinese investors who want to continue mining, and currently Kazakhstan is one of the countries that is being pumpkin by Chinese investors if this can be received well by the government then I believe Kazakhstan can get a big profit, Then this boom must be really put to good use by the Government of Kazakhstan.

[mamahdedeh]

Chinese investors certainly want to continue their business if it can't be done in China. Of course, the closest country and has soft regulations will be a destination for Chinese investors to divert their business. In this case, Khazakhtan seems to be the country of choice for Chinese citizens, in addition to benefiting from this, I think this will also be a socialization event for Kazakh citizens to get to know crypto which is a new field of work.

[dimonstration]

Of course this is an opportunity for countries that border China, because they can be targeted by Chinese investors who want to continue mining, and currently Kazakhstan is one of the countries that is being pumpkin by Chinese investors if this can be received well by the government then I believe Kazakhstan can get a big profit, Then this boom must be really put to good use by the Government of Kazakhstan.

I doubt that big profit from them, There Government itself is now restricting the energy consumption of miners that probably came from China. This miners is not even paying while consuming most of the country energy instead of its residence. I believe they will not allow this mining operator to operate in the long term and they might ban them too just like what China did. This country is not even showing openness for crypto before so they are not ready for this.

[dupee419]

The China crypto ban isn't that bad after all, after all, China is a power hungry country so I'm assuming that the ban really gave oit not only Kazakhstan but other countries to dominate in the mining industry, we all know how powerful China is but we have other countries to provide the mining for us, so there's really not much of a problem about the China crypto ban.

[litepool.ru]

As far as I know in kazakhstan cryptocurrency mining has been prevalent and developed. My friend had the opportunity to visit the miner there, and as far as I can see it is very professional because it is very cold here, which can help save fuel and increase performance. Around the mines, there are guards armed with rockets and guns that look like an army , anyway, good for neighboring countries with China.

[Fundamentals Of]

China's decision to ban Bitcoin mining is actually a blessing to a lot of countries. Bitcoin mining is a huge industry. By releasing them all from the country, China is actually releasing investment money and giving other countries a chance to take part in it. Kazakhstan is one of those which benefited from the exodus. There are also other Bitcoin mining companies that moved to the United States. Overall, this is China's big loss. It isn't Bitcoin's. Bitcoin may lose some hashpower for a while. But it will always recover.

[pragna]

Extually we can see this positive and negatively. Yes for other small countries and neighbored can be benefited in mining where China-a large country ban crypto and mining also. They now will be advanced as there would be no dominance from big and large countries. But if China ban crypto i think it will be some problematic for this market. I mentally want to china in this market so that crypto market will be enrich.

[yazher]

Good for their neighboring countries since they're where the miners will go first but it's still a consideration about the electricity cost if they're cheaper or close to what China has. I just wish that the Chinese government won't chase those miners especially the bigger farms that have been operating in their country and then forced to rehabilitate because of the policy that they've implemented about mining which made them ban it.

The good thing about it is the other countries are open to it and they could choose which countries they wanted to migrate to and they can spread from one country to another to avoid congestions and I think Canada is offering them a secure place to build their mining facility without fearing for a possible ban again. In other countries like Iceland, although it's a country where it's nice to build a cryptocurrencies mining facility, they cannot flock to build there in one place, they've been spreading all around the globe to avoid getting banned again in one single place.

[amishmanish]

As far as I know in kazakhstan cryptocurrency mining has been prevalent and developed. My friend had the opportunity to visit the miner there, and as far as I can see it is very professional because it is very cold here, which can help save fuel and increase performance. Around the mines, there are guards armed with rockets and guns that look like an army , anyway, good for neighboring countries with China.

Wow. That is something very interesting to know. Especially the part about armed guards. Although i can accept that they'd have guns, having "rockets" or RPGs is a bit of an exaggeration. Kazakhastan is an impoverished country and Bitcoin mining gear and farms would be valuable investments that warrant protection. If possible, it'd be great to look at some of the pictures that your friend may have clocked over there.

I was hoping that the China ban would result in flooding the market with cheap miners and GPUs. I don't see any of that happening or maybe I haven't looked at the right places. Anybody who knows about this, please do share if there are people trying to sell their mining gear post this so-called exodus.

[Mauser]

Great news for Kazakhstan, and any other country that profits from crypto currencies. Its Chinas own fault if they ban cryptos than now other countries are picking up the pieces. I wish we would see less Dependance on China when it comes to electronics and cryptos. China as the main manufacturer of chips is profiting from the crypto hype directly. At the moment it's impossible to build a decent computer because either all the chips and graphic cards are sold out or so expensive that it's not worth it to buy them now. As long as hardware prices are so expensive we shouldn't see an exodus of crypto miners. There is so much demand that we wil keep rising as long as crypto prices are high. Only if prices start to fall we could see a decline in crypto miners. But once new computers become affordable again the number of miners should rise again.