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[NoLimits15]

Chinese mining operator Valarhash has shut down both of their bitcoin mining pools Bytepool and ITHash for high costs and low profitability. The mining company was launched in August 2019 in Chengdu, Sichuan. They provided a very high hash rate which is around 4000 petahashes per second. It's sad to see them shut down...

 

[Josemendez]

A lot of mining rigs were affected drastically during the Chinese Bitcoin shut down. This is something that shake the crypto market because there were many miners in China back then. Some of them weren't able to continue after the ban while some of them may still be mining in silent.

 

[Ben Kempton]

A lot of mining rigs were affected drastically during the Chinese Bitcoin shut down. This is something that shake the crypto market because there were many miners in China back then. Some of them weren't able to continue after the ban while some of them may still be mining in silent.

The governments play a big role when it comes to cryptocurrency markets. Any step taken by the government of countries could have some impact on the value of bitcoin, especially in countries where bitcoin mining is a normal thing or in countries where there are many mining rigs and mining farms. For example, the policies set by the government of the United States have always been playing a role when it comes to market of Bitcoin.

 

[Josemendez]

The governments play a big role when it comes to cryptocurrency markets. Any step taken by the government of countries could have some impact on the value of bitcoin, especially in countries where bitcoin mining is a normal thing or in countries where there are many mining rigs and mining farms. For example, the policies set by the government of the United States have always been playing a role when it comes to market of Bitcoin.

Well, I agree with you. United States policies normally makes laws that affect the crypto community . Sometimes it is on the positive note while other times it brings the market down. I believe with time government policies cannot have effect on the cryptocurrency market. This will make cryptocurrency stronger.

 

[Ben Kempton]

Well, I agree with you. United States policies normally makes laws that affect the crypto community . Sometimes it is on the positive note while other times it brings the market down. I believe with time government policies cannot have effect on the cryptocurrency market. This will make cryptocurrency stronger.

Well, one of the main thing that has led to the downfall of the cryptocurrency market is a huge surge in the interest rates. However, this is not the only factor responsible for the crash. Unfortunately, during the Russian and Ukraine war, the market was really badly affected. Since that time, the market has never managed to recover in the way many investors wanted it to recover. The market may not recover until things become much better.

 

[fiery phoenix]

The governments play a big role when it comes to cryptocurrency markets. Any step taken by the government of countries could have some impact on the value of bitcoin, especially in countries where bitcoin mining is a normal thing or in countries where there are many mining rigs and mining farms. For example, the policies set by the government of the United States have always been playing a role when it comes to market of Bitcoin.

You are right and the impact made by countries like China and the US will be very huge since they are the two largest economies in the world.China also was the second largest bitcoin mining nation after the US so their ban on mining surely takes a big hit in the crypto space

 

[Ben Kempton]

You are right and the impact made by countries like China and the US will be very huge since they are the two largest economies in the world.China also was the second largest bitcoin mining nation after the US so their ban on mining surely takes a big hit in the crypto space

We could also count Russia has a state that also plays a very big role when it comes to cryptocurrencies because it is at the third spot when it comes to the list of countries where cryptocurrencies are mined. Right now, I have also read that Russia may legalise cryptocurrencies but the government is trying to negotiate the terms and conditions with the miners in the country. Let's see what happens now.

 

[BullyMaguire]

The event when china decided to ban crypto currency anything related to it.. the market suffers but it really wasn't much. Im glad it didn't happen this months because that would make the situation now worst. Also we all know why they do this.. other countries are offering to shelter the mining businesses anyways

 

[fiery phoenix]

We could also count Russia has a state that also plays a very big role when it comes to cryptocurrencies because it is at the third spot when it comes to the list of countries where cryptocurrencies are mined. Right now, I have also read that Russia may legalise cryptocurrencies but the government is trying to negotiate the terms and conditions with the miners in the country. Let's see what happens now.

Yes Russia now also have the ability to affect the crypto space largely through their decisions.They are ranked third now it terms of mining hashrate globally.I don't think their government would want to jeopardise what this third ranking means for their economy considering that they are now under heavy sanctions.
Please provide me with an update later on what Russia decided concerning mining

 

[Ben Kempton]

Yes Russia now also have the ability to affect the crypto space largely through their decisions.They are ranked third now it terms of mining hashrate globally.I don't think their government would want to jeopardise what this third ranking means for their economy considering that they are now under heavy sanctions.
Please provide me with an update later on what Russia decided concerning mining

I have read in the news that countries like Iran often try to deal with financial issues (sanctions) imposed by the government of United States by using cryptocurrencies. I think that Russia is also doing the same thing in order to avoid complicated restrictions that have been created by the United States as a result of Ukraine-Russia war. I reckon that there might be other countries as well who might be using cryptocurrencies, despite the fact that they might have officially "Banned" cryptocurrencies.

 

[a_jerobon]

That is so unfortunate for the two mining companies that shut down due to the coronavirus and it's effects. But soon after, the Chinese government banned cryptocurrencies completely and I am sure that so many other mining companies had to close down. That is something that causes so much loss and distress to the owners of the companies.

 

[fiery phoenix]

Bytepool and 1THash contributed a lot of hashpower to the bitcoin mining networks with up to 13% at their best.Valarhash ran out of funds to keep runningtheir operations amidst rising costs of mining thats why they shut down

 

[kirlin]

놀다바카라 지금 온라인으로 라이브하고 놀라운 보너스를 받으세요

 

[Inkhorn]

It's bad news though, minings are important places, cryptos and crypto mining deserve more value.