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Author Topic: China bans Bitcoin Mining, will it be beneficial to global miners?  (Read 282 times)

dddsmith

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China government has banned the operations of crypto mining in some of the provinces and this has led to a drop in Bitcoin price when the news came out in June.

After two months, Bitcoin price is showing the trend to the bull. While the ban is still effective in China, and with the high investment sentiment in Crypto around the world, how will this show the impact?



Bitcoin Mining Difficulty shows a sharp drop in June but now it is slightly rising.

www.mytradinginfo.com


 

momo3HC

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Re: China bans Bitcoin Mining, will it be beneficial to global miners?
« Reply #1 on: August 27, 2021, 03:20:02 PM »
China bans it but now they announce it as a virtual property... I think they don`t know exactly what are they doing and wanting.

haroldentwist

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Re: China bans Bitcoin Mining, will it be beneficial to global miners?
« Reply #2 on: August 28, 2021, 06:07:04 PM »
China government has banned the operations of crypto mining in some of the provinces and this has led to a drop in Bitcoin price when the news came out in June.

After two months, Bitcoin price is showing the trend to the bull. While the ban is still effective in China, and with the high investment sentiment in Crypto around the world, how will this show the impact?



Bitcoin Mining Difficulty shows a sharp drop in June but now it is slightly rising.

www.mytradinginfo.com

This is most likely a fake. Made to attract attention and increase the value of bitcoin.This is most likely a fake. Made to attract attention and increase the value of bitcoin.
« Last Edit: August 30, 2021, 07:08:20 AM by haroldentwist »

momo3HC

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Re: China bans Bitcoin Mining, will it be beneficial to global miners?
« Reply #3 on: September 06, 2021, 06:25:21 PM »
This is most likely a fake. Made to attract attention and increase the value of bitcoin.This is most likely a fake. Made to attract attention and increase the value of bitcoin.
Why do you think so?

Redix

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Re: China bans Bitcoin Mining, will it be beneficial to global miners?
« Reply #4 on: September 06, 2021, 11:44:42 PM »
I think global miners won't get a big impact, it is only for China miners. However, many of China miners already moved to other countries and they are welcomed there. At least, I know two countries that can be the destinations of China miners, Kazakhstan and Texas (USA). In these two places, China miners can continue their activities.


momo3HC

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Re: China bans Bitcoin Mining, will it be beneficial to global miners?
« Reply #5 on: September 25, 2021, 12:58:05 PM »
I think global miners won't get a big impact, it is only for China miners. However, many of China miners already moved to other countries and they are welcomed there. At least, I know two countries that can be the destinations of China miners, Kazakhstan and Texas (USA). In these two places, China miners can continue their activities.
Exactly. And in Kazakhstan is very profitable as i know.

LuckyMac

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Re: China bans Bitcoin Mining, will it be beneficial to global miners?
« Reply #6 on: September 26, 2021, 06:45:19 PM »
It seems like they don't know how to deal with it. Lots more adaption of BTC and cryptos globally so they are going the opposite way it seems

[email protected]

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Re: China bans Bitcoin Mining, will it be beneficial to global miners?
« Reply #7 on: September 30, 2021, 04:30:53 PM »
China widened its crackdown on the industry with the clear intent to destroy it completely. It's bad for it in the short run, but in the long term I have little doubt it would recuperate when other countries pick up the slack.

Dn.Salah706

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Re: China bans Bitcoin Mining, will it be beneficial to global miners?
« Reply #8 on: October 07, 2021, 02:01:17 PM »
Although the Chinese government has banned bitcoin mining altogether, it has not had much of a negative impact on global bitcoin mining. Moreover, even though the Chinese government banned bitcoin, it was banned by the people of the country Couldn't.
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momo3HC

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Re: China bans Bitcoin Mining, will it be beneficial to global miners?
« Reply #9 on: October 17, 2021, 11:24:09 PM »
I think global miners won't get a big impact, it is only for China miners. However, many of China miners already moved to other countries and they are welcomed there. At least, I know two countries that can be the destinations of China miners, Kazakhstan and Texas (USA). In these two places, China miners can continue their activities.
Yes. Even China miners are redirecting to other locations or even already redirected.

 

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