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Will China be able block all cryptomining?

zeljko

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I read some bad news for crypto miners. Seems that after blocking sell and buy crypto 2017. now China want block all crypto miners. Probably main reason is unable tracking transactions and collecting tax and infromations about buyers and sellers. It would be hard strike for global market since we know in China are many mining farms. This is decision is suggested to China goverment but it could be affective from May 7.

Will this affect drop Bitcoin and other crypto currencies value? Will some disapper from market?
 
I don't think Venezuela can be so strict as China. In Venezuela is democracy and in China is communism. Communism have much strong surveillance methods and strict laws.
 
I don't think Venezuela can be so strict as China. In Venezuela is democracy and in China is communism. Communism have much strong surveillance methods and strict laws.
You're information is outdated by 50 years if your still think that China is run by a Communist regime. Since the large scale reform in the 1970s, they have switched to a semi-capitalist economy that has been working quite well. Just look at their GDP increase over the years. And you really think that Venezuela is a legit democracy? I bet my ass that the elections there are rigged.
 
Sorry if I offend somebody but still I think China has much better system for detection of this things. If they accept block cryptmining, do you think more country will follow example?
 
Sorry if I offend somebody but still I think China has much better system for detection of this things. If they accept block cryptmining, do you think more country will follow example?
I believe that there will be more countries banning or putting heavy regulations on Bitcoin mining in the future. One main reason is because mining consumes lots of electricity and puts a heavy toll on a country's resources. With coal and oil being used up soon, and global warming getting more severe, cryptocurrency miners will have to look for more environmentally friendly ways of getting electricity if they want to continue their business.
 
I consider myself as someone that believe in cryptocurrencies but personally i hate the idea of crypto minning due to high cost of electricity that's usually involved. But if china eventually ban minning, that will be bad for some cryptocurrencies with high percentage of chinese miners but i don't think this is something other countries will emulate. For example just because china internet is censored doesn't mean other countries should also do the same.
 

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