Quote from: New Money on February 10, 2024, 05:29:13 PM

I don't really think China will let crypto mining make a comeback anytime soon due to its stringent regulations on cryptocurrencies and related activities. However, Hong Kong presents a more favorable environment and could be a great starting point for those interested in crypto mining. The city's more open stance towards financial technologies and digital currencies might offer better opportunities for the development and expansion of crypto-related activities.

Hong Kong is part of china. then don't Chinese regulations apply to hong kong too? I would absolutely love to see a comeback of mining in china too. I hope china ease their rules about bitcoin and cryptocurrency little bit so Chines people can freely start mining and using crypto.

Quote from: serveria.com on Today at 07:53:21 AM

Quote from: safar1980 on December 18, 2023, 10:15:52 AM

Bitcoin mining’s silent comeback in China, according to industry insider
CryptoSlate’s research analyst, James Van Straten, recently sat down with Bitfarms’ Chief Mining Officer, Ben Gagnon, to discuss the evolving landscape of Bitcoin mining, revealing some interesting thoughts on Bitcoin mining in China, along with detailed insights into global miner revenues.

Gagnon, who spent time operating crypto-mining facilities in China, shared his unique perspective on the country’s mining ban and the recent expansion of Bitcoin mining in the nation. Contrary to attributing the ban to environmental or economic reasons, Gagnon suggested the decision was politically motivated.

“When the China mining ban happened in 2021, I really don’t think it had anything to do with Bitcoin itself. I think it was entirely internal politics.”

Gagnon noted that mining is slowly returning to China as a way to recycle waste inputs, notably heat, for residential and office projects. This approach allows for reintroducing mining in China as a net social benefit, balancing business and political interests.

“And I think we’re gonna see a lot more of that. It’s a way for China to bring back mining indirectly and improve the cost efficiency of infrastructure and residential developments.”

While Bitcoin mining might seem insignificant regarding China’s overall GDP, Gagnon observed that it holds significant potential at the individual business level. Entrepreneurs might see it as an opportunity to improve business efficiency, recycle resources, and diversify revenue streams. This is particularly relevant in China’s real estate sector, which has faced challenges but remains a significant part of the economy.

This is good news, China has always been an important factor for the Bitcoin market. Remember times when just a news on "China bans Bitcoin" or "China embraces Bitcoin" could move the price thousands in both directions! So any positive news from China could propel Bitcoin to the new highs.

You are right man. that was such a memorable time. hopefully a time like that would come again.