China To Accept Bitcoin Mining As industry

[Fixfin 2569]

I am not sure what this post is talking about. China never banned mining and it was always kept as an industry. What happened was China banned the use of Bitcoin and was never approved it. I don't actually understand what is the point of accepting something that you were always allowing.

[Zafarwaheed 0]

That's the good topic to be discussed. In the recent times from the year 2009 the people to the bank of China  bans transaction of every bank account related to the financial purposes. That's the reason that they are banning the crypto again over again. What do we think about this problem. In my opinion China have to need to focus on the market of the crypto that result into very beneficial for them. But it's their opinion not to accept the crypto. In future I think they will do something about the crypto to introduce widely to their country. 

[Teminali69 1081]

They have been doing it long before they they accepted it, i think it is china with the largest mining fields in the world.

[Maaz sultan 265]

As we all knows that Crypto mining is a high power consumption process and produce a high heat which is not good for peoples health , So government are correct to separate this field of crypto mining as an industrial level and must need to follow all the industrial rules and regulations .

[Flying11Horse 45]

I want to ask you @Maaz sultan that if we make a mining rig in our home ,will it be dangerous for our health .I am not talking of a small rig but of a medium rig consider a room full of mining rig.Have any idea,because i also want to start and make my own mining rig in my home.

[Maaz sultan 265]

33 minutes ago, Flying11Horse said:

I want to ask you @Maaz sultan that if we make a mining rig in our home ,will it be dangerous for our health .I am not talking of a small rig but of a medium rig consider a room full of mining rig.Have any idea,because i also want to start and make my own mining rig in my home.

Yes dear , mining rid is pleased any other room that not relates to your house because a risk of air pollution and also impact on human health and also need a high electricity to mine and power the mining equipment's .

[Syedbesharat 5423]

China stand at BTC is variable where it ban the crypto and then accepted it. Used to rewarding it's soldiers and now they have restrain the  big exchanges and using iron hand rule to control  the crypto flow in the country. China is biggest miner and have to support more crypto in their own country. 

[zhoutong 2188]

China has done a mistake to ban bitcoin trading and exchanges from the country but they didn't make a mistake to ban the miners. They were always allowed and they have strong connections in the government that wouldn't waste billions of dollars of growth for the chinese economy. I don't know what changed in mining with this news but if it is going to make things better for miners it will be better for Bitcoin too.

[BraveHeart01 1569]

I think chaina is accepting  cryptocurrency  because  she knows that  this will be the future of the world and it will make the country more rich and prosperous. 

[Brandonsaw 1973]

China is one of the best countries that accepts cryptocurrencies and that uses cryptocurrencies more than good that China accepts mining as an industry that makes me happy although I already expected it since China is the country that uses cryptocurrencies the most.

[Flying11Horse 45]

22 hours ago, Maaz sultan said:

Yes dear , mining rid is pleased any other room that not relates to your house because a risk of air pollution and also impact on human health and also need a high electricity to mine and power the mining equipment's .

How can it cause air pollution @Maaz sultan,I didn't quite understand it. According to my knowledge it only produces heat which is not an air pollution.

Yes you are right it ,requires a lot of Electricity for the systems to run and the radiations are also harmful for health.

[iloveyobit 6599]

20 hours ago, BraveHeart01 said:

I think chaina is accepting  cryptocurrency  because  she knows that  this will be the future of the world and it will make the country more rich and prosperous. 

Not only this is the reason, all countries that know the value of Bitcoin will begin to accept dealing with it, because they know that the more they are proactive in this, the more they benefit from it and from blockchain technology.

[leakydonney 1402]

This is the great achievement in Crypto currency industry as market circulation and market value of crypto token will be increased right now since cryptocurrencies gain their value based on the scale of community involvement (like the user demand, scarcity or coin's utility)

[Mella 3680]

I am think this is something that makes Bitcoin more accepted by the china government that it has had bitcoin in ban but allowed miner to keep operation. A new regulation that accepts the bitcoin industry is a step that make it better worth more and more value for the China and the one billion chinese.

[MuhammadSh 3067]

The Chinese people are aware enough to understand how this cryptocurrencies world works and that's why their government trying to benefit and let its people benefit too.. it's really a great step by China and i hope that there would be more governments follow this step in the near future because there are more and more people allover the world believe in bitcoin and other cryptocurrencies projects.. 

[duncun007 3577]

On 11/5/2020 at 8:45 AM, Suparna said:

China banned cryptocurrency a few years ago but now they have started adopting cryptocurrency again and they are taking various steps for the advancement of cryptocurrency. They have created certain coins which are in a good position in the market.

yea but its still not a certain thing, because at any time we can see them again banning bitcoin for no reason, and they will result in making bitcoin fall down heavily. but i think with the amount of crypto projects that came out of china they wont be banning crypto again.

[Sykkuno 2887]

Good to know that cryptocurrency mining in China will not face problems from the chinese government. It is a sector that produces and adds to the chinese economy and China took a good decision to help this sector and not ban it as it has done with the use of cryptocurrencies and the trading.

[VijithaVarghese 1994]

This a very interesting information my friend. Thank you for sharing this mate . China has already been an amazing producer of mining instruments. The bitcoin mining can actually help earn a good amount of money. 

[Jaafar Fahad Hassan 114]

On 11/4/2020 at 6:49 PM, overkill11 said:

China's way of accepting bitcoin is different from the others like any other crytpocurrency they accept. They impose rules and regulations hidden through their acceptance

I think that's a nice idea from their government, but through that means, those it mean they will control the price and other things related to the market value, am a bit confused about the term they impose rules and regulations

[yonkii 3205]

This was probably a very big step for the change in China mind about Bitcoin and except from regulating mining I think the next step should be to remove the ban and allow one billion chinese to buy bitcoin and altcoins too. I've seen they are interested in altcoins and thave lists every year about the progress and innovation of some altcoins like EOS lisk and IOST so they should start looking in crypto and allow them too.

[cryptovlek 2597]

As far as I know most of mining was happening in China since 2012 at a least. So they now accepted bitcoin mining it is a little difficult to understand how they allowed since they have banned Bitcoin and crack down on exchanges.

[Edwinvicky 819]

Nice info, this will contribute and increase the crypto market. BTC for life. The good thing is that the price will keep going up. We hope years to come, btc will hit 100k.

[Ndayebo8 0]

If china again allowable miners to extract bitcoin so therefore i suppose it will not develop trusted by miners as in near coming in attendance might for a second time a peril of banning. But if it spends selected time with no banning after that the care aim be supposed to reach up and besides prices height and adoption echelon of bitcoin would increase

[Alimhana930 1605]

I think there should be more flexibility from this committee, as Bitcoin mining is considered a new thing or a new profession, so to speak. Therefore, subjecting this new profession to traditional laws is not possible, but new laws can be enacted that are fair to both parties

[kryptonick 2659]

So this means that China is officially regulated to allow Bitcoin mining while so far it wasn't regulated but only allowed. I had no idea about this but it is something that perhaps will be a good step and maybe China after cracking down on what was believed to be laundering by some companies and blocking bank accounts connected to localbitcoins they can allow Bitcoin again.