China To Accept Bitcoin Mining As industry

[Treat1234 0]

5 hours ago, King98 said:

It is not surprising that China can prevent mining, and encryption is very popular in that country, and we know that China is one of the most important countries that supports encryption.
 

China has so many  ways of doing their business, and now mining will become an industry, which is very favorable atlest they won't banned mining in the country

[Ridam 7455]

I don't about Investment and trading in china but i have watched the documentary about the chinas btc mining and they were mining 25 btc per day from one business. That's why the China is huge market for btc supply. And sure taking it as industry would play vital role in development.

[Rezort 846]

China might be doing huge mistakes when banning cryptocurrencies and adding some more regulated rules to it, I hope that other countries see that and could take advantage of it.

[abualez 4106]

Hello my friend Does this mean that China was not mining the cryptocurrency !!!! How is this, and it is one of the countries legally permitted to trade in cryptocurrencies ??

[Soaib khan 1035]

On 2/18/2020 at 10:57 AM, Sunil kumar Behera said:

It is very profitable for chian for accepting bitcoin mining industry.Because china having big markt as the population of China is no 1 in the world.

i am fully agree with you China is one of the major country for cryptocurrency because it has many people who are in cryptocurrency industry any news from China shakes whole cryptocurrency market

[Brand1 1336]

China is one of the most countries that own bitcoin and own mining equipment, and everyone expected China to support mining, and this is what actually happened, as mining was accepted, as you mentioned, and this acceptance will enable China to achieve many benefits and profits.

[Alexhales15 0]

This is such as a good news if it is true that China is becoming a accept bitcoin of mining as an industry. we'll see how it goes up or down!

[Bohana 2143]

On 11/6/2019 at 6:49 PM, yalcin0595 said:

China's national development and reform comission rejected bitcoin as an industry in the country. The country of cyryto currency mining in the Chinese economic planning agency, Guidance sector restructuring catalog allowed in an industrial zone. China's top economic planning agency has  ben categorized as an industry that would proviously be banned from a bitcoin mining country.The new catalog for restruring the guidance sector will be effective from 1 january 2020. In April this year the NDRC listed bitcoin mining as an industry  that is being phased out of the country for failing to comply with applicabke laws and regulations. In its most recent year, however, the economic planning agency did not mention bitcoin or any other  crypto mining that should leave the country. When the NDRC published its first industry reform catalog in 2005, it closes and recommends the establishment of different sector types. In preparation for the NDRC in 2011, the repor advocated the removal of bitcoin mining from the industry. Currently China is responsible for most of the bitcoin mining in the world.

China have been announcing to dump cryptocurrencies recently. But it still haven't done anything that is bad to cryptocurrencies for now.

[gourav789 2834]

well , we know that in China there is a huge amount of minner who mine Crypto currency like bitcoin and other .

I think there is more than 50% Bitcoin is generate in china through minner . I think due to free electricity we can see a huge Amount of minner there .

[Honny143 13612]

2 minutes ago, gourav789 said:

well , we know that in China there is a huge amount of minner who mine Crypto currency like bitcoin and other .

I think there is more than 50% Bitcoin is generate in china through minner . I think due to free electricity we can see a huge Amount of minner there .

Yes bro I agree China mines large number of bitcoins, because China provide electricity in cheap prices, so this country people mainly mine bitcoin, so now china regulates crypto mining and consider its like industry to help their peoples earn more profit.

[Jeet Narayan 1940]

We know that most of miners are from China. Bitcoin mining is very profitable . So in china , big miners are established big mining farms . Now Chinese government can also support these miners to mining bitcoin .

[Laboni 755]

Most people in China are addicted to crypto In that case if they accept China Bitcoin mining as an industry then crypto will become more known all over the world and every country will support crypto. This will double the demand for crypto.

[Zalaks007 543]

China is fast adopting to cryptocurrency and it will really help boost their economy idle the nearest future and also creates lots of job opportunities at the same time for its citizens. 

[Rahul11 292]

On 11/6/2019 at 10:49 PM, yalcin0595 said:

China's national development and reform comission rejected bitcoin as an industry in the country. The country of cyryto currency mining in the Chinese economic planning agency, Guidance sector restructuring catalog allowed in an industrial zone. China's top economic planning agency has  ben categorized as an industry that would proviously be banned from a bitcoin mining country.The new catalog for restruring the guidance sector will be effective from 1 january 2020. In April this year the NDRC listed bitcoin mining as an industry  that is being phased out of the country for failing to comply with applicabke laws and regulations. In its most recent year, however, the economic planning agency did not mention bitcoin or any other  crypto mining that should leave the country. When the NDRC published its first industry reform catalog in 2005, it closes and recommends the establishment of different sector types. In preparation for the NDRC in 2011, the repor advocated the removal of bitcoin mining from the industry. Currently China is responsible for most of the bitcoin mining in the world.

In China there are many mining farm. And their mining is profitable because of lowest electricity bill. I think they pay almost $3000 usd cost to mine every single bitcoin. And in other countries it's not profitable as China.

[CryptoLover21 0]

Chinese BTC miners are currently responsible for more than 65% of the global hash rate. As the electricity is free in china and good technology. But people are doing a lot of illegal activities like money laundering and tax evasion which could result bad for the bitcoin mining industries.

[Iriswolfgang 200]

On 11/7/2019 at 12:49 AM, yalcin0595 said:

China's national development and reform comission rejected bitcoin as an industry in the country. The country of cyryto currency mining in the Chinese economic planning agency, Guidance sector restructuring catalog allowed in an industrial zone. China's top economic planning agency has  ben categorized as an industry that would proviously be banned from a bitcoin mining country.The new catalog for restruring the guidance sector will be effective from 1 january 2020. In April this year the NDRC listed bitcoin mining as an industry  that is being phased out of the country for failing to comply with applicabke laws and regulations. In its most recent year, however, the economic planning agency did not mention bitcoin or any other  crypto mining that should leave the country. When the NDRC published its first industry reform catalog in 2005, it closes and recommends the establishment of different sector types. In preparation for the NDRC in 2011, the repor advocated the removal of bitcoin mining from the industry. Currently China is responsible for most of the bitcoin mining in the world.

Bitcoin mining as an industry would be great because China can monopolize the earnings to their country and I think that it will be great for the workers to have cryptocurrencies and stave jobs that they could earn and make profit with

[Raqeebzy 6456]

On 1/23/2020 at 6:10 AM, bliznec said:

Today there is no problem in order to start mining bitcoin in China. Everyone knows that most of the mining is in China. 

Every year from 2013 when the People Bank of China bans all bitcoin transactions by every financial institution in the country, there is also the same news that China banning bitcoin over and all over again. What I do think about this China aim is not banning bitcoin completely but aim at controlling the increasing adoption of bitcon and they fear dumping of the former centralised system. It will just stop as a mere banter.

[TimopheyKa 3900]

I think China now is the release plan of its own digital currency - cryptowall! And this is really cool, I think it will be a great progress in our Internet world, and will entail a great development of cryptocurrency

[somrat909 49]

Currency as an industry in the country. The Chinese economic planning agency Sirito is a country of currency mining, the guidance sector reconstruction catalog is approved in an industrial zone. China's top economic planning agency, Ben, has classified it as an industry that would probably be banned from a Bitcoin mining country. The new catalog for directory sector restoration will take effect from January 1, 2020. In April this year, the NDRC listed Bitcoin mining as an industry that is being phased out.   

[LocusW 38]

Cold countries are the ones that can mine the most BTC due to the low consumption of electrical energy. Nowadays already with the halving, the miners of low budget have had to rethink if they continue mining BTC or not. China can mine in strategic places and make good profits from it. By combining good computing power and with the cold of your climate in your favor, you can achieve good profitability. Argentina is one of the other countries that also has good BTC mines, taking advantage of its geographical location is essential, so you better take advantage of it.

[Cryptomint 433]

Yes this was the biggest news at the time of post. But I read an article which was saying that now the China is against the cryptocurrency.

[percare 3192]

At least it seems that China is not trying to ban mining, and we know that most mining is done in the areas of china where electricity is very cheap. Perhaps they will change their tune on bitcoin too as I hear there are some people in the chinese government pushing for changes.

[bogdanoff 3173]

China has banned the use of Bitcoin but at least allowed mining probably because of the billions of dollars industry that adds something extra to the economy. At least they understand the profit for their gross domestic product. I hope that this industry will be less centralized outside of china for the shake of Bitcoin.

[Yomose 3704]

China ban bitcoin, but they mine the most bitcoin in the world,follow by Russia, and follow by USA being the third. So, I do not see this as valid because china mine most bitcoin. 

[annayks 2314]

China thought of it carefully and didn't want to damage the production part of Bitcoin as in the country there is more than 50% of the total Bitcoin mining located and also mining for more cryptocurrencies. Bitmain is an important company for China and its founders have grown into billionaires since they were some of the first that produced asics and mined Bitcoin from the early days.