Quote from: Marvell2 on September 17, 2017, 09:35:33 PM

Quote from: grrrgrrr on September 17, 2017, 08:38:24 PM

GPU mining is about done in China. It won't be long before police starts shutting down big mines, and then difficulty will drop.

That would be a dream come true lol but i doubt it

Yes it would, but we can only dream.

I think most of this China is a lot to do about nothing. For one thing I think the word "Ban" either gets mistranslated or has another meaning in China than westerners take it. For most people once they hear the word Ban and think that's it, permanent shutdown of all things crypto in China forever.

The last time exchanges were supposedly "banned" it was more of a temporary suspension and they were told to cease the practice of 0 cost trading. When trading resumed with minimal trading fees in place, the large amounts of previous wash-trading was finally exposed and showed that China's previous dominance in crypotrading was overstated by several fold. This change caused the market to react to more real trading volume data and the price of Bitcoin and other cryptos started to increase, where they had previously struggled for over 2 years when China and its fake trading volumes were manipulating and holding down true price discovery.

So I think this time it is much the same. Exchanges will indeed shutdown, but I suspect the Chinese government will come up with some sort of license that an exchange need to qualify for to be re-opened. This will curtail much of the pure speculation type markets going on, ICOs as a recent example, and making crypto exchanges toe the line so to speak in regards to laws and regulations designed to protect investors. While a lot of people here might find that against the free spirit of crypto, you need to realize that in China a lot of working class people were the ones getting taken advantage of and losing their life savings by all these guaranteed get rich quick ICO schemes.