what you think about china in terms of cryptocurrency and mining process

[CarnagexD]

I think China made a huge decision in crashing down cryptocurrency mining because of energy consumption and financial risks that they saw and it a kind of decision that most countries cannot afford because of its people. They did it at the earliest possible time to ban mining before cryptocurrencies go wide but I'm seeing that there is still a chance to get back to mining. If I were a citizen or a resident of China, I won't be able to optimize the benefits that cryptocurrency has to offer.

Tho the government of China is just doing it's job by implementing what they think is good for their people which is reducing carbon emissions and transitioning to a more sustainable economy, someday they would have to accept the consequences of those.

I think it is great that China is the world’s largest producer of Bitcoin mining. This shows how powerful and influential China is in the cryptocurrency industry. With the amount of Bitcoin produced in China, it is clear that the country is a major player in the cryptocurrency market and is likely to remain so in the future.

Before creating a post, make sure you're already read the other replies too, have made few research and not only agree with any words written by @OP. As you can see the quoted part below, China already ban Bitcoin mining since 2021, there's no more mining activity you can find in China because it's illegal.

Bitmain headquarter company was in China, but it seems they're already move to United States because they're failed to launch IPO in China.

China sent shockwaves through the blockchain sector in 2021, when it announced extreme restrictions on Bitcoin (BTC) mining and crypto trading. It imposed the ban in phases, and by late-September 2021, the government put a stop to all crypto transactions. Within months, Bitcoin's hash rate plummeted, and Chinese crypto exchanges left the country, leaving many BTC supporters unsure of how the industry would recover after Beijing's ruling.

I had to verify which is which in these replies because I haven't heard any news that China is back on its feet again in mining. Tho there are some miners that started mining again after moving overseas or using remote tools while being inside the country, mining remains uncertain in China.

[BTCBroker2016]

Kind of dangerous, considering political condition everything might be shut down in seconds

[Dunamisx]

In The Crypto Currency World's If Anyone Thinking Crypto Not Possible To  Without China Because China Have So Many Popular Mining Platform And World's Biggest Mining Country Also China So Country China Is World’s  Largest Bitcoin Mining  Country.

China cannot be a considerable alternative when it comes to bitcoin mining and that's if the miners also exist as before in China, provided that the country is well known for it technological development in an advanced economy doesn't mean that it's the best when it comes to bitcoin mining, especially after the whole ban was made in China, though some people may still be doing that using a renewable energy source but you cannot compare the percentage in terms of computing hash rate to that of a mining rig in an open environment where bitcoin mining is permitted.

[MIner1448]

China is one of the largest cryptocurrency miners in the world and its share in the mining of bitcoin and other cryptocurrencies has been huge. However, the recent actions of the Chinese government have shown that they do not approve of the cryptocurrency mining process, especially in light of climate change. The Chinese government is forcing cryptocurrency miners in the country to shut down their operations, resulting in a significant reduction in China's bitcoin mining capacity.

[mv1986]

Even though this could be a bit outdated as well, I think this overview well demonstrates how shares in global mining operations shifted between countries:



The article on Cointelegraph also says that it was Kazakhstan to welcome Chinese miners after the government started cracking down on them.

They used data from CBECI with last data point is in January 2022.

I have my topic about it but with different visualization up to August 2021. I perhaps will update it today or tomorrow with data up to January 2022.

However if you read my topic and follow discussions there, you will see their methodology for data collection have some assumptions and potential weakness.

Only the Assumption 1 is enough to tell us about lack of data accuracy

Assumption 1: IP addresses of mining facility operators are an accurate indicator of hashrate location.

After a few months of China crackdown on mining. Check it out!

I think when it comes to topics like these there will never be perfect data available. Is it theoretically possible to technically gather 100% in perfect data points to geolocate hash rate? As you said assumption is already a weakness, but is there even a way that could guarantee close to 100% or even the full 100% accuracy?

It would at least be good to know if the data is approximately correct or whether it could also be totally off. Now some of the numbers make perfect sense as they are in line with most of the reports you can find on the Internet and the crash in Chinese hash rate also makes sense. I wonder why for July and August 2021 the data points are missing. What would be the reason for that?

[serjent05]

China is one of the largest cryptocurrency miners in the world and its share in the mining of bitcoin and other cryptocurrencies has been huge. However, the recent actions of the Chinese government have shown that they do not approve of the cryptocurrency mining process, especially in light of climate change. The Chinese government is forcing cryptocurrency miners in the country to shut down their operations, resulting in a significant reduction in China's bitcoin mining capacity.

China used to be one of the largest cryptocurrency mining places but due to its recent regulation banning miners in their jurisdiction.  China is now not ranked among the largerst mining operation but instead USA replaces it.   China is hostile to cryptocurrency since they have its own CBDC implementation.  I think China will stay hostile and will push their CBDC to its citizen and will have the same stance against the crypto mining industry.

In The Crypto Currency World's If Anyone Thinking Crypto Not Possible To  Without China Because China Have So Many Popular Mining Platform And World's Biggest Mining Country Also China So Country China Is World’s  Largest Bitcoin Mining  Country.

China cannot be a considerable alternative when it comes to bitcoin mining and that's if the miners also exist as before in China, provided that the country is well known for it technological development in an advanced economy doesn't mean that it's the best when it comes to bitcoin mining, especially after the whole ban was made in China, though some people may still be doing that using a renewable energy source but you cannot compare the percentage in terms of computing hash rate to that of a mining rig in an open environment where bitcoin mining is permitted.

Indeed, a country that forbids crypto mining activities will never be an alternative due to its regulations.