Re: China is thinking about unbanning bitcoin mining after price rise
What do bitcointalk’s community and users think and speculate about this latest news development? Would anyone consider that the Chinese government might be recognizing that they have made a mistake and might be ready to unban mining for bitcoin and other cryptocoins?
According to CoinTelegraph, China’s National Development and Reform Commission (CNDRM) is now seeking public opinion on the inclusion of crypto mining in its list of “phased-out” industries, after seeing that the ban helped the U.S. to become the world’s dominant crypto mining nation.
It looked like China’s stance regarding crypto mining was finally cemented with the ban imposed in May this year, after it had been going back and forth on the issue since 2019, but now, they are skeptical after most of the Bitcoin hashing power was relocated from China to other states, helping the U.S. become the leading hashrate provider.
Read in full https://digesttime.com/2021/10/24/china-is-thinking-about-unbanning-bitcoin-and-started-a-new-research/
According to CoinTelegraph, China’s National Development and Reform Commission (CNDRM) is now seeking public opinion on the inclusion of crypto mining in its list of “phased-out” industries, after seeing that the ban helped the U.S. to become the world’s dominant crypto mining nation.
It looked like China’s stance regarding crypto mining was finally cemented with the ban imposed in May this year, after it had been going back and forth on the issue since 2019, but now, they are skeptical after most of the Bitcoin hashing power was relocated from China to other states, helping the U.S. become the leading hashrate provider.
Read in full https://digesttime.com/2021/10/24/china-is-thinking-about-unbanning-bitcoin-and-started-a-new-research/
Chinese are business minded so expect that they will do this since knowing how huge the profit they can get with crypto and they need to create hype right now as the market is so bullish so for sure they are earning on the current situation of the market. But be careful on the return since once they settle they will spread again the fuds about banning bitcoin,crypto or anything what they can use. So for that its good not to listen on what China said about in that article.