Re: China is going to restrict mining

Quote from: finaleshot2016 on Today at 10:57:31 PM

Quote from: Rtz007 on Today at 09:59:39 PM

The Chinese government has again issued red tape to restrict bitcoin mining companies
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We can't understand the source, it's written in the Chinese language.

China is one of the world's leading hardware producers, they make some mining rigs, and they are being ordered by some countries that want ASICs mining facilities. Many BTC miners are from China and I'm wondering what's going to happen if there's few miners left on BTC. Back then it's just a suggestion, and there's a possibility that it will happen right now.
https://www.wired.com/story/china-says-bitcoin-wasteful-wants-ban-mining/

The best reason for this is that they want to encourage more of the EOS which the Chinese people strongly endorse.
https://cointelegraph.com/news/chinese-public-blockchain-index-ranks-bitcoin-14th-while-eos-tops-list

Can they actually implement about such kind of restriction?
I believe they have ulterior motives like the one you mentioned here, encourage miners to mine EOS.
But in any case, it would be hard to fully implement such kind of regulation.
Before they can actually implement it, miners already find a way how to convince the govt to let them mine whatever they want.