citronick
Legendary
 Offline
Activity: 1834
Merit: 1080
---- winter*juvia -----
|
 |
September 16, 2017, 07:51:28 PM
Last edit: September 16, 2017, 08:09:36 PM by citronick |
|
I know that the exchanges in China closing is for a real, but I haven't seen any information about China giving a ban for mining.
That's why I asked.
The exchange and ICO ban is for real. Since Bitcoin survived as usual - China govt may go for local mining ban all together - I am speculating. If that happens - what would be the immediate impact. Phil - BITMAIN's mining operations is in Mongolia (outside of China?)... some 25,000 15,000 miners I understand. https://news.bitcoin.com/media-granted-access-to-bitmains-mongolian-bitcoin-mines/https://www.youtube.com/watch?v=yGeim9E24Wkhttps://www.youtube.com/watch?v=s2bDEeKHFVw |
If I provided you good and useful info or just a smile to your day, consider sending me merit points to further validate this Bitcointalk account ~ useful for future account recovery...
|
|
|
|
|
|
|
|
|
|
Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
philipma1957
Legendary
Offline
Activity: 4116
Merit: 7865
'The right to privacy matters'
|
|
September 16, 2017, 08:02:42 PM |
|
I know that the exchanges in China closing is for a real, but I haven't seen any information about China giving a ban for mining.
That's why I asked.
The exchange and ICO ban is for real. Since Bitcoin survived as usual - China govt may go for local mining ban all together - I am speculating. If that happens - what would be the immediate impact. Phil - BITMAIN's mining operations is in Mongolia (outside of China)... some 25,000 15,000 miners I understand. https://news.bitcoin.com/media-granted-access-to-bitmains-mongolian-bitcoin-mines/Ahh a gray country as it was ruled by China and Russia for some of the last 100 years But technically free from Russia or China https://en.wikipedia.org/wiki/MongoliaDoes Bitmain build its gear in China? |
|
|
|
citronick
Legendary
Offline
Activity: 1834
Merit: 1080
---- winter*juvia -----
|
|
September 16, 2017, 08:09:12 PM
Last edit: September 16, 2017, 08:26:31 PM by citronick |
|
I know that the exchanges in China closing is for a real, but I haven't seen any information about China giving a ban for mining.
That's why I asked.
The exchange and ICO ban is for real. Since Bitcoin survived as usual - China govt may go for local mining ban all together - I am speculating. If that happens - what would be the immediate impact. Phil - BITMAIN's mining operations is in Mongolia (outside of China)... some 25,000 15,000 miners I understand. https://news.bitcoin.com/media-granted-access-to-bitmains-mongolian-bitcoin-mines/Ahh a gray country as it was ruled by China and Russia for some of the last 100 years But technically free from Russia or China https://en.wikipedia.org/wiki/MongoliaDoes Bitmain build its gear in China? No idea if Bitmain does it own manufacturing perhaps only miner assembly. https://www.youtube.com/watch?v=s2bDEeKHFVw@hagsfinn - on hindsight, Bitmain perhaps want to list IPO in US and JihanWu did mention 100-200m investment for mining facility in US. Russia and Japan have also had some news on their interest in their own SHA256 miners and mining operations. |
If I provided you good and useful info or just a smile to your day, consider sending me merit points to further validate this Bitcointalk account ~ useful for future account recovery...
|
|
|
philipma1957
Legendary
Offline
Activity: 4116
Merit: 7865
'The right to privacy matters'
|
|
September 16, 2017, 08:10:49 PM |
|
the mines are in Inner Mongolia that is China
|
|
|
|
firetreeactual
Legendary
Offline
Activity: 952
Merit: 1003
|
|
September 16, 2017, 08:23:09 PM |
|
Having worked forensics within international banking...I can think of a couple of paths that might satisfy the Chinese government. Neither probability threatens BTC. The concern is re controlling the value of their own fiat, which, if taken in context with BTC, is made more difficult. Historically, they've always been thorough...if not fair...in implementing fiscal policy in that regard. Canaan has a US distributor now. Bitmain's repair is US based. Obviously something's afoot, but I'm nowhere near certain exactly what as yet. Mine on...  |
To infinity and beyond...on two 741s and one of only 3...nope, make that 4...full nodes in Hawaii...on <30A. (I have other gear on the Hoth ice planet)
|
|
|
citronick
Legendary
Offline
Activity: 1834
Merit: 1080
---- winter*juvia -----
|
|
September 16, 2017, 08:31:09 PM |
|
the mines are in Inner Mongolia that is China
That means if China bans mining - Bitmain will be likely affected. That will be a huge hash reduction and blockchain should auto adjust difficulty levels down to maintain the 10 minute block intervals. Like what I said, since Kano is in the Bitkan event - maybe he will have more news. |
If I provided you good and useful info or just a smile to your day, consider sending me merit points to further validate this Bitcointalk account ~ useful for future account recovery...
|
|
|
HagssFIN
Legendary
Offline
Activity: 2436
Merit: 1706
Electrical engineer. Mining since 2014.
|
|
September 16, 2017, 08:40:05 PM |
|
Ah okay, good point with the US IPO citronick.
It is sometimes very hard to get fresh news from China, so hopefully Kano has some news from the event.
|
|
|
|
kano (OP)
Legendary
Offline
Activity: 4494
Merit: 1808
Linux since 1997 RedHat 4
|
|
September 16, 2017, 11:25:04 PM |
|
the mines are in Inner Mongolia that is China
That means if China bans mining - Bitmain will be likely affected. That will be a huge hash reduction and blockchain should auto adjust difficulty levels down to maintain the 10 minute block intervals. Like what I said, since Kano is in the Bitkan event - maybe he will have more news. BitKan was 'delayed and moved' ... 'force majeur' ... but that was just an excuse  (as they later unwittingly stated themselves) The Chinese Govt shut down ICOs and the morons at BitKan/Bitmain decided that affected Bitcoin also ... but ICOs have nothing to do with Bitcoin at all. The HK 'replacement' is next week (Wednesday), but I wont be going since I'll be back home tomorrow and not heading overseas again 1 or 2 days later just for the Bitmain advertising summit. BitKan announced the change 6 days before it was on, and 2 days before I left, so I decided to make the most of the plans I'd already made and booked and just visited Canaan (and spent time in Japan)  |
|
|
|
|
|
ConnerM
Member
Offline
Activity: 61
Merit: 23
|
|
September 17, 2017, 06:05:50 AM |
|
That means if China bans mining - Bitmain will be likely affected.
That will be a huge hash reduction and blockchain should auto adjust difficulty levels down to maintain the 10 minute block intervals.
I think even if mining becomes a real legal or political problem in China, that gear would quickly be packed up and sold off or relocated outside the country. Any impact to difficulty would likely only last a matter of weeks if that. Not that I would complain. |
"Buying up the shovels as fast as possible..." My Little Farm -or- How I learned to Stop Worrying and Spend All My Time --> https://imgur.com/a/T1z8q |
|
|
|
DarKSm0ke
|
|
September 17, 2017, 06:17:42 AM |
|
Come on Guys! Let's crack this block and let the Green color shine again!
|
|
|
|
|
ConnerM
Member
Offline
Activity: 61
Merit: 23
|
|
September 17, 2017, 06:43:52 AM |
|
Yeah we seem to be getting more miners coming online now thanks to deliveries from Canaan; but also long awaited deliveries from Bitmain finally starting to show up after s number of months of delays there ... We've gone over 90PHs today, I wonder if we'll get to 100 soon We just finished an electrical upgrade and we're bringing another 400THs online at the farm in Virginia in two or three weeks, so I'm hoping we can contribute right in around 1PHs to the pool by mid-October. I've been mining PPS+ for awhile in a couple of the big Chinese pools, and sometimes putting some capacity into Slush, but fees there are a little too high considering the luck. Phil is why I've finally come over here. The experiences he describes running his small farm are very similar to mine. And that the Chinese farms are just getting way too big anyway. It's a long way from the (6) S5's I was running in my basement a couple of years ago. |
"Buying up the shovels as fast as possible..." My Little Farm -or- How I learned to Stop Worrying and Spend All My Time --> https://imgur.com/a/T1z8q |
|
|
jseph1234
Newbie
Offline
Activity: 5
Merit: 2
|
|
September 17, 2017, 07:18:40 AM |
|
please do not be insulted
I will explain to you real nasty you are a moron and don't understand the correct explanation that was given to you.
WTF dude, that was a rude-ass statement! Do you REALLY think he listened to anything after you spoke to him like that?? Sheez! I know you don't talk to anyone that way in real life because you would get face _______ |
|
|
|
|
philipma1957
Legendary
Offline
Activity: 4116
Merit: 7865
'The right to privacy matters'
|
|
September 17, 2017, 11:44:02 AM |
|
please do not be insulted
I will explain to you real nasty you ... don't understand the correct explanation that was given to you.
WTF dude, that was a rude-ass statement! Do you REALLY think he listened to anything after you spoke to him like that?? Sheez! I know you don't talk to anyone that way in real life because you would get face _______ My statement was crafted very carefully. It is not rude at all if you read the full statement. Your statement does show the problem on internet blogs which is not enough people read the posts fully. So if the person did not read the full statement that I took time to write very carefully they lose out on life. If they read it all they would see I tried to be helpful I took the time to helpful and used a tried and true technique of shock value to get their attention so they would learn something. If I failed so be it at least I tried to help. Plus I did not use a dummy account to hide behind like you did. |
|
|
|
|
Apprentice
|
|
September 17, 2017, 11:45:09 AM |
|
....about that block!!!! COME ONE, YOU BETTER BE at least 16BTC
|
|
|
|
|
os2sam
Legendary
Offline
Activity: 3578
Merit: 1090
Think for yourself
|
|
September 17, 2017, 01:16:15 PM |
|
The Chinese Govt shut down ICOs and the morons at BitKan/Bitmain decided that affected Bitcoin also ... but ICOs have nothing to do with Bitcoin at all
I guess I'm out of the loop. What's and "ICO". |
A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
Q: What is the most annoying thing on usenet and in e-mail?
|
|
|
philipma1957
Legendary
Offline
Activity: 4116
Merit: 7865
'The right to privacy matters'
|
|
September 17, 2017, 01:32:23 PM |
|
The Chinese Govt shut down ICOs and the morons at BitKan/Bitmain decided that affected Bitcoin also ... but ICOs have nothing to do with Bitcoin at all
I guess I'm out of the loop. What's and "ICO". an ICO is : Initial Coin Offering BTC can no longer be an ICO here is a list of current coins https://coinmarketcap.com/the list has 1111 coins on it. most are total and complete ripoffs some have virus designed to steal BTC from a BTC core wallet and tons of other BS. it is why kano says they are all a scam my position is most are a scam and China has banned new ones opening in China |
|
|
|
clgrissom3
Legendary
Offline
Activity: 1722
Merit: 1032
Carl, aka Sonny :)
|
|
September 17, 2017, 01:33:17 PM
Last edit: September 17, 2017, 02:00:07 PM by clgrissom3 |
|
The Chinese Govt shut down ICOs and the morons at BitKan/Bitmain decided that affected Bitcoin also ... but ICOs have nothing to do with Bitcoin at all
I guess I'm out of the loop. What's and "ICO". DEFINITION of 'Initial Coin Offering (ICO)' [EDIT: as defined by Investopedia]An unregulated means by which funds are raised for a new cryptocurrency venture. An Initial Coin Offering (ICO) is used by startups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks. |
|
|
|
|
mdude77
Legendary
Offline
Activity: 1540
Merit: 1001
|
|
September 17, 2017, 01:55:20 PM |
|
My statement was crafted very carefully.
It is not rude at all if you read the full statement. Your statement does show the problem on internet blogs which is not enough people read the posts fully.
So if the person did not read the full statement that I took time to write very carefully they lose out on life. If they read it all they would see I tried to be helpful I took the time to helpful and used a tried and true technique of shock value to get their attention so they would learn something.
If I failed so be it at least I tried to help. Plus I did not use a dummy account to hide behind like you did.
Part of the problem is today's school system is intentionally designed to create non thinking individuals who experience challenges comprehending anything more than "show up at 8:30, and do what you're told". It's not their fault. M |
I mine at Kano's Pool because it pays the best and is completely transparent! Come join me! |
|
|
CryptoAtticus
Newbie
Offline
Activity: 8
Merit: 0
|
|
September 17, 2017, 03:34:10 PM |
|
I'm guessing when we solve the next block, it will be considered unlucky |
|
|
|
|
|
