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/
I don't think this is a credible news to believe in. They have so many claims and assumptions that aren't backed up with enough evidences, which technically says that the content is just a speculation and not a fact. In journalism, claim of fact is important. We should know how to distinguish the claims of the news outlets. Certainly, we should be wary of claim of value and policy that should not be the basis of a news most especially if it targets to inform because it could relay false information to the readers. In this case, I think claim of policy was done in order to release a so-called 'article' for the sake of clicks.
But to focus on the topic, if ever China really have plans to reverse the banning, definitely they thought it was a bad move because bitcoin is still soaring high. Since it is not something to be controlled of, 'maybe' they have made up their mind to just use bitcoin and its mining to their advantage. However, I don't think miners would be enticed to go back because it's so hard to move and act in a space that screams uncertainty. They'll just waste time and effort if ever things go chaotic again. This is just my speculations though.