China bans Bitcoin Mining, will it be beneficial to global miners?

[dddsmith]

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.

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[momo3HC]

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]

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.

[momo3HC]

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]

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]

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]

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

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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]

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.

[momo3HC]

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.