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[aryan4]

The Chinese administration is expected to ban projects that consume large amounts of energy to reduce their carbon footprint and emissions. Chinese journalist Colin Wu, who has studied all developments regarding coins, reported that some measures that the Chinese government will soon start to implement could put Bitcoin miners in a difficult situation.
What do you think Chinese miners can do to continue their activities?

 

[Josemendez]

To an extent it will be affected as China has the highest mining hash . But it will be blessings in disguise ,because as mining is reduce , supply will be lower than demand and price will rise

 

[microunit]

I think yes, as china is one of the largest hashrate giving mining companies, If those large portion of hashrate is gone I think bitcoin transactions might now have longer time to be processed

 

[salman77]

I think bitcoin transactions might now have longer time to be processed.mining us the reduce supply will b lower but price is rise

 

[Wisdom01]

If the policies at too much and unbearable for those miners , they might move to another country to continue mining ,what they want to mine

 

[Josemendez]

If the policies at too much and unbearable for those miners , they might move to another country to continue mining ,what they want to mine

Hmm , as for me , moving to another country will be more demanding to them and this is something that can make their mining difficult

 

[Manish200]

There is still time for these implementations to come into existence but it will definitely be a problem for Chinese miners. There has to be a middle ground for this problem. All lot of things will have to be taken into consideration if these they imply these change. Not sure how they will deal with it.

 

[Wisdom01]

Hmm , as for me , moving to another country will be more demanding to them and this is something that can make their mining difficult

I understand ,but most times they have no option than to do that because its their job and they cant afford to lose their source of living you get

 

[highspeed]

I have no idea what kind of generators are currently being used in China to produce power for the extractors.
However, to reduce the environmental impact, they could use for example photovoltaics or wind power.

 

[aryan4]

If the policies at too much and unbearable for those miners , they might move to another country to continue mining ,what they want to mine

I guess your guess is valid. According to the posts on news websites and social media accounts, there is information that a large part of the miners in the country will try to go to countries with cold climates. It looks like they will somehow fix this problem.

 

[Manish200]

I guess your guess is valid. According to the posts on news websites and social media accounts, there is information that a large part of the miners in the country will try to go to countries with cold climates. It looks like they will somehow fix this problem.

This won't be the best solution to this problem. They need to figure out a better way to keep the investors working. Maybe they can reconsider the decision by making some changes.

 

[achawaskey]

It is obvious that bitcoin mining consume a lot of energy, but the move can only affect small miners, while big miners can afford private generator.

 

[highspeed]

It is obvious that bitcoin mining consume a lot of energy, but the move can only affect small miners, while big miners can afford private generator.

Yes,

It is obvious that bitcoin mining consume a lot of energy, but the move can only affect small miners, while big miners can afford private generator.

Yes, on the one hand I agree with this logical reasoning. However, from what I understand in this thread, China (and not only) could have problems that unfortunately affect climate change, due to global warming, caused among all causes, even by energy generators for extractors.

 

[silentwatch]

I dont think so. Bitcoin mining will still continue as the price is getting higher and higher everyday. Did not effect to much i guess except for those who live in china and mining bitcoin. Maybe they will suffer some lost but that is the risk...

 

[microunit]

I have no idea what kind of generators are currently being used in China to produce power for the extractors.
However, to reduce the environmental impact, they could use for example photovoltaics or wind power.

Some green energies like wind power are quite dependent on the geography of the place though , if the place has mountains or forests and you have lower elevation chances are there's not much wind in your place that could pass through

 

[highspeed]

Some green energies like wind power are quite dependent on the geography of the place though , if the place has mountains or forests and you have lower elevation chances are there's not much wind in your place that could pass through

You are right. However, the territory of China it extends on about 10 million square kilometers (more or less 4 million square miles).
Certainly there are flat areas exposed to the wind. Furthermore, however, the photovoltaic would be their the second solution available.
Would you agree?

 

[Josemendez]

I understand ,but most times they have no option than to do that because its their job and they cant afford to lose their source of living you get

Agreed but most times the movement is not always worth the business . They end up paying heavy huge tax that renders their profit negligible

 

[microunit]

You are right. However, the territory of China it extends on about 10 million square kilometers (more or less 4 million square miles).
Certainly there are flat areas exposed to the wind. Furthermore, however, the photovoltaic would be their the second solution available.
Would you agree?

True but it would still depends as to where the mining rigs or warehouse factory are situated as they have to build it close the rigs

 

[highspeed]

True but it would still depends as to where the mining rigs or warehouse factory are situated as they have to build it close the rigs

I'm sorry, are cryptocurrency extractors located inside warehouses as if they were factories?
You see, I knew that anyone could "do" extraction, but ...

 

[Wisdom01]

Agreed but most times the movement is not always worth the business . They end up paying heavy huge tax that renders their profit negligible

They might just relocate to a country that dosent bother much about tax and other mining records ,because miners do have plans too