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/The CCP is a very erratic and unreliable form of government, prone to swinging in the direction of whatever Dear Leader has decided is the flavor of the month. Last month they were concerned about energy shortages, after they blocked Australian coal (in a stupid act of spiting themselves) and suddenly realized they couldn't get enough to run power plants. They tell the world that China is going green instead of admitting they have disastrous economic policies which falter when someone "offends" the Chinese by not going along with their messed up wishes. So it will not be a surprise to see them do a 180 turn around and allow miners back in, because they actually offer convenient money making ability in the downtime periods where energy demand is lower - Hopefully the miners won't be foolish enough to move back.