Quote from: DARKANGEL6415 on November 18, 2017, 08:33:48 PM

Quote from: Frank0209 on November 18, 2017, 06:19:42 PM

It'll never happening

). You should know that almost biggest Bitcoin mining factories are being located in China, the amount of money the government get from taxes of these factories everymonth is very huge so I don't think they will ban Bitcoin mining for any reason. But if they will do that I think it'll really bad cause the amount of Bitcoin these factories provide to the world cryptocurrency market everyday is very huge so it'll be a big lost if these factories will be forced to close.

While i would normally say i agree with a assessment like yours in this instance i have to disagree. China has lots of bitcoin farms not because they have such ultra cheap labor. The reason is because China subsidies for the electricity heavily in their region. Therefore technically someone one could probably use antminer s3 and make good profits as of today. The same goes for people in Venezuela thats why Venezuelan government has bitcoin mining illegal. That does not stop people in Venezuela it just makes miners split up mining operations between a group of homes.

The Chinese government itself receives dividends from mining. Who will kill the chicken that carries the golden eggs? Maybe they will propose to mine another currency. If there is news about the support of this new super currency. Perhaps the price will soar and some of the miners will switch to another crypto currency. But on a global scale, this is unlikely.