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[SCAMEXPOSER]

China which is the world largest producer of bitcoin and other cryptocurrencies, it is said to be accounted for 71.7% of Crypto currencies and inner Mongolia account for 7.7% of the world hashrates.
The government of inner Mongolia has sent a signal to all Crypto currency miner in her territory to shut down their services by the end of next month to enable it achieve carbon reduction goal. The miners are moving their Crypto to other places in China and other countries. Do you think this will affect the price of bitcoin and other Crypto currencies?.

 

[Wisdom01]

Its not going to affect the price of bitcoin , but why would the government do so because miners do contribute to the economy also i think

 

[SCAMEXPOSER]

Its not going to affect the price of bitcoin , but why would the government do so because miners do contribute to the economy also i think

If you read the update very well you discover that the government is trying to curb or reduce the carbon emissions as the source of power is coal

 

[Wisdom01]

If you read the update very well you discover that the government is trying to curb or reduce the carbon emissions as the source of power is coal

There could be an alternative to that , and they could make use of solar energy incase the government dosent like carbon emission, but it seems the government are not interested in that

 

[SCAMEXPOSER]

There could be an alternative to that , and they could make use of solar energy incase the government dosent like carbon emission, but it seems the government are not interested in that

Well that's a good suggestion which I wouldn't know if they have considered and also the capacity of solar energy to power the mining equipments is another question.

 

[Wisdom01]

Well that's a good suggestion which I wouldn't know if they have considered and also the capacity of solar energy to power the mining equipments is another question.

They should consider that because the government would even benefit from the revenue sharing and others i think

 

[Niftyicon]

Thankfully they have been given enough time to move somewhere else or find other alternatives. Although I wouldn't have considered that the mining activities are so destructive to the environment.

 

[BullyMaguire]

That's sucx. They never did anything wrong yet they needed to flee. Well china is really strict they might even endangered their life if they opposed them

 

[Brain]

Well I think the action of the government here is reasonable as the emissions can have bad health effect on the people. But I don't think it will affect the price of Bitcoin negatively maybe a bit positive