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[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=yGeim9E24Wk

https://www.youtube.com/watch?v=s2bDEeKHFVw

[philipma1957]

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/Mongolia

Does Bitmain build its gear in China?

[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/Mongolia

Does 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.

[philipma1957]

the mines are in Inner Mongolia that is China

[firetreeactual]

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...

[citronick]

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.

[HagssFIN]

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]

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)

[Apprentice]

After the Boss Calls Bitcoin a ‘Fraud’ — JP Morgan Buys the Dip

https://news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/

[ConnerM]

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.

[DarKSm0ke]

Come on Guys! Let's crack this block and let the Green color shine again!

[ConnerM]

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.

[jseph1234]

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]

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]

....about that block!!!! COME ONE, YOU BETTER BE at least 16BTC

[os2sam]

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".

[philipma1957]

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]

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]

  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

[CryptoAtticus]

I'm guessing when we solve the next block, it will be considered unlucky