Chinese authorities could soon revise crypto mining ban

[Redaktion]

China's plan to crash the Bitcoin value appears to have backfired as the crypto coin is back to its values recorded before the crypto mining ban. On top of that, most of the Bitcoin hashing power was relocated from China to other states, helping the U.S. to become the leading hashrate provider. The Chinese authorities are now issuing a call for public comments on the decision of adding crypto mining to the list of "phased-out" industries.

https://www.notebookcheck.net/Chinese-authorities-could-soon-revise-crypto-mining-ban.574464.0.html

[toven]

Isn't china facing  power outage? Can they fill all the country electric need 100%+3% now?

[vertigo]

I don't understand why they would want to be the leading hashrate provider. That just means they're having more of their electricity being wasted to run computer gear, causing more strain on the grid, higher electric rates, and more pollution. My first thought when they banned it and miners moved to the US was that they would just bring along all those problems, and that it was a bad thing, not a good thing. Is it just because of the wealth it brings to the miners, and now China is concerned that people in America are getting wealthier instead of people in China?

[Hunter2020]

It's not going to happen.  That's almost like saying China banning Google in China backfired.  China thinking of allowing Google back into China to do business.  Well, did it happen after so many years?

Facebook is a CIA offshoot.  China will never allow it to take root in China.  Bitcoin is a crypto currency invented by the CIA.  China will never allow it to take root there.

[Rhino]

I love reading comments from people that have literally zero idea what they're talking about 🤣😂. Why does ignorance and arrogance so often go hand and hand?