China: "Mining is illegal operation"


#1

TL;DR
71% of mining is in China.
Cheap electricity in China makes mining attractive.
Chinese government may be locking down the miners as locals reported apparently(not confirmed yet).


Build Your Own ASIC Miner
Breaking news. China's Cheap Hydropower for Miner is ending?
#2

whoow, if this is true, it could be game changer! ^^


#3

Could this be a good thing? Help decentralize BTC, and maybe even reduce some of the manipulation behind BCH?


#4

i thought the same, but really hard to say how this would play out.


#5

Well, less competition then.
We can mine using our laptops maybe? :slight_smile:


#6

I saw something about Bitmain moving to Russia


#7

I would not use your laptop to mine. It will overheat and you will have no more laptop.


#8

I am pretty sure this is pure FUD again…
But…
What do you think would happen if they closed down mines in China?
The rest of the world won’t have competitor and we will be able to mine easily and make more profits?


#9

BCH would lost its main mining backup?


#10

I thought Russia was trying to ban Bitcoin and work on their own cryptocurrency.


#11

India has cheap electricity too and it is not too far away. I had read about some maritime and mountain border tensions between China and India though.

There are cooler places to mine with electricity just as cheap. Should the Bitcoin Pub contact these massive miners to consult with them for moving their mining farms to safer territories?


#12

Wow this is big news for sure. People will be taking out their old Antminers to mine BTC again jajajaja :joy:


#13

FloridaWater, perhaps they can move their farms next to genesis mining farms, who knows???. that is an option.


#14

Can we even go a day without an attack on crypto? LOL man. The market still roars on…


#15

These news only increase attention :slight_smile:


#16

#17

take a look at this