Coronavirus Outbreak In China Forces Bitcoin Mining ...

China shutting down Bitcoin exchanges

submitted by mberre to Economics [link] [comments]

China shuts down Bitcoin mining companies in southwest

China shuts down Bitcoin mining companies in southwest submitted by subsonico to Bitcoin [link] [comments]

China Shuts Down Bitcoin Mining Farms

https://www.wsj.com/articles/china-quietly-orders-closing-of-bitcoin-mining-operations-1515594021
Any thoughts on how this will effect payouts and transaction fees/time? My understanding is China is responsible for 80% of bitcoin mining.
submitted by mouf32 to NiceHash [link] [comments]

China shuts down Bitcoin mining companies in southwest

China shuts down Bitcoin mining companies in southwest submitted by BitcoinAllBot to BitcoinAll [link] [comments]

China shuts down Bitcoin mining companies in southwest

This is an automatic summary, original reduced by 48%.
The county is the home of a wealthy mining industry in southwest China's Sichuan province, and the purpose for the phenomenon is doubtful.
The shutdown is made more complicated by the fact that the price of Bitcoins has exceeded 10,000 RMB, and many exchange platforms are battling with for mining assets after the Central Bank of China banned the deposit and withdrawal of Bitcoins.
Mining Bitcoins is a global effort, so even if mining is banned somewhere, the total amount of Bitcoins does not change, and so the global price will not fluctuate, an industry insider said.
A staff member from the information office of the State Gird Sichuan Electric Power Company said managing the electricity consumption of the Bitcoin mining companies is beyond their supervision, as those companies directly use electricity generated by the hydropower stations.
A local official said the closure of the Bajiaoxi Mining Company aims at cracking down on illegal cash operations and on controlling systemic risks.
Zhang Jun, a senior researcher with the Taiyiyun Strategic Research Center, said if the mysterious closure of the mining companies forced them to conceal their mining activities, it would harm supervision efforts and would not improve the livelihood of mining workers.
Summary Source | FAQ | Theory | Feedback | Top keywords: mining#1 company#2 Bitcoin#3 industry#4 shutdown#5
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China shutting down Bitcoin exchanges

China shutting down Bitcoin exchanges submitted by knight222 to btc [link] [comments]

China shutting down Bitcoin exchanges

This is the best tl;dr I could make, original reduced by 51%. (I'm a bot)
China is moving forward with plans to shut down Bitcoin exchanges in the country, starting with trading platforms in key cities.
All Bitcoin exchanges in Beijing and Shanghai have been ordered to submit plans for winding down their operations by 20 September.
According to a document leaked online by users on the social network Weibo that was seen by Coindesk, Chinese regulators ordered all cryptocurrency exchanges in Beijing to stop registering new user registration by midnight local time on 15 September, and to notify users publicly when they formally close.
All exchanges are required to send regulators a detailed "Risk-free" plan of how they intend to exit the market before 18:30 local time on Wednesday 20 September.
Shareholders, controllers, executives, and core financial and technical staff of exchanges are also required to remain in Beijing during the shutdown and to co-operate fully with authorities.
"China is shutting the exchanges down for good reasons - I think it's right they're being cautious at this time," Paul Armstrong, an emerging technology adviser and author of the book Disruptive Technologies, told the BBC. "Bitcoin is by proxy unregulated and peer-to-peer, it's a very volatile currency."
Summary Source | FAQ | Feedback | Top keywords: exchange#1 Bitcoin#2 Chinese#3 China#4 currency#5
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Bitcoin mentioned around Reddit: China shutting down Bitcoin exchanges /r/Economics

Bitcoin mentioned around Reddit: China shutting down Bitcoin exchanges /Economics submitted by BitcoinAllBot to BitcoinAll [link] [comments]

China shutting down Bitcoin exchanges

China shutting down Bitcoin exchanges submitted by BitcoinAllBot to BitcoinAll [link] [comments]

China shutting down Bitcoin exchanges

China shutting down Bitcoin exchanges submitted by PostNationalism to economy [link] [comments]

Bitcoin Daily: China Shuts Down Gambling Sites Using Tether; Japans Soccer Star Debuts Own ... (current BTC/USD price is $13,095.01)

Latest Bitcoin News:
Bitcoin Daily: China Shuts Down Gambling Sites Using Tether; Japans Soccer Star Debuts Own ...
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

Beijing court rules that “there are no laws that forbid the investment and trading of bitcoin” and “people have the right to freely participate in bitcoin tradings at their own risk."

This is the best tl;dr I could make, original reduced by 28%. (I'm a bot)
A Beijing district court dismissed a lawsuit against Chinese bitcoin exchanges, stating "People have the right to freely participate in bitcoin trading at their own risk", the Beijing Morning Post is reporting.
He sued bitcoin exchanges, including Huobi(火币), to get his money back, arguing, "According to Karl Marx's The Two Factors of the Commodity: Use- Value and Value, the commodity should have the use-value and value, and the bitcoin has no value and use-value, and cannot be identified as a commodity ... so bitcoin does not exist. Therefore the previous trades should be invalidated."
The court ruled in favor of Huobi and other bitcoin exchanges citing there are no laws forbidding the investment and trading of bitcoin.
The court judgement also states that, according to China's relevant laws and regulations, bitcoin is not issued by the monetary authorities, does not have legal and monetary attributes, thereby bitcoin is not a currency issued by government and "There are no laws that forbid the investment and trading of bitcoin" and "People have the right to freely participate in bitcoin tradings at their own risk".
In response, all major domestic bitcoin trading platforms, including one of China's largest bitcoin exchange platform-BTC China-shut down bitcoin trading.
The district judge said, "These financial platforms generally advocate that what the seven ministries and commissions have halted is the transaction between cryptocurrencies, rather than between the virtual currency and the RMB transaction. So it's not touching the red line." Adding that at present, the legal attributes of wealth management products such as bitcoin funds have not been clearly defined yet.
Summary Source | FAQ | Feedback | Top keywords: bitcoin#1 trades#2 exchange#3 court#4 Value#5
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China Crypto Roundup: President Xi Praises Blockchain, Bitcoin Miners Shut Down, Price Crash Triggers Debates

submitted by raaner12 to Altcoinss [link] [comments]

Bitcoin Tumbles on Report China to Shutter Digital Currency Exchanges

This is the best tl;dr I could make, original reduced by 57%. (I'm a bot)
NEW YORK - Bitcoin fell sharply on Friday after a report from a Chinese news outlet said China was planning to shut down local crypto-currency exchanges, although analysts said this was just a temporary setback.
Sources close to a cross regulators committee that oversees online finance activities told Chinese financial publication Caixin that authorities plan to shut key bitcoin exchanges in China.
Two sources in direct contact with officials at three Chinese bitcoin exchanges - Beijing-based OKCoin, Shanghai-based BTC China, and Beijing-based Huobi - said the platforms told them that they have not heard anything from the Chinese government.
Greg Dwyer, business development manager at crypto-currency trading platform BitMEX, said there was confusion over whether China would close bitcoin exchanges following the ICO ban.
Jehan Chu, a partner at Jen Advisors, a Hong Kong-based early-stage blockchain venture capital firm, noted that should China shut down bitcoin exchanges, it will not be the end of the crypto-currency world in the country.
Blockchain, a digital ledger of transactions underpinning bitcoin, has leapt to prominence as it enable users to track and record assets across all industries.
Summary Source | FAQ | Feedback | Top keywords: Bitcoin#1 China#2 exchanges#3 Chinese#4 crypto-currency#5
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China: All Bitcoin exchanges in Beijing and Shanghai have been ordered to submit plans for winding down their operations by 20 September.

This is the best tl;dr I could make, original reduced by 51%. (I'm a bot)
China is moving forward with plans to shut down Bitcoin exchanges in the country, starting with trading platforms in key cities.
All Bitcoin exchanges in Beijing and Shanghai have been ordered to submit plans for winding down their operations by 20 September.
According to a document leaked online by users on the social network Weibo that was seen by Coindesk, Chinese regulators ordered all cryptocurrency exchanges in Beijing to stop registering new user registration by midnight local time on 15 September, and to notify users publicly when they formally close.
All exchanges are required to send regulators a detailed "Risk-free" plan of how they intend to exit the market before 18:30 local time on Wednesday 20 September.
Shareholders, controllers, executives, and core financial and technical staff of exchanges are also required to remain in Beijing during the shutdown and to co-operate fully with authorities.
"China is shutting the exchanges down for good reasons - I think it's right they're being cautious at this time," Paul Armstrong, an emerging technology adviser and author of the book Disruptive Technologies, told the BBC. "Bitcoin is by proxy unregulated and peer-to-peer, it's a very volatile currency."
Summary Source | FAQ | Feedback | Top keywords: exchange#1 Bitcoin#2 Chinese#3 China#4 currency#5
Post found in /worldnews and /Bitcoin.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

03-08 04:54 - 'Rumors: is China shutting down Miners in China due to Corona Virus?' (self.Bitcoin) by /u/hrdwrk1 removed from /r/Bitcoin within 100-110min

'''
I ya heard from friend that Chinese govt is cracking down on bitcoin miners due on ongoing corona virus, they are cracking down on miners, especially who are stealing energy in this times of need.
Just wondering if anyone know about this ?
'''
Rumors: is China shutting down Miners in China due to Corona Virus?
Go1dfish undelete link
unreddit undelete link
Author: hrdwrk1
submitted by removalbot to removalbot [link] [comments]

Reports: China orders bitcoin exchanges to shut down

submitted by bobcobble to worldnews [link] [comments]

China Shut Down Crypto Hype - Definitely Don’t Support Bitcoin

submitted by n4bb to CoinPath [link] [comments]

Exclusive: China Plans to Shut Down Bitcoin mining operations, while Bank Of China Keep talking with Ripple

Exclusive: China Plans to Shut Down Bitcoin mining operations, while Bank Of China Keep talking with Ripple submitted by italyluxurycarhire to Ripple [link] [comments]

PSA: China has not banned bitcoin. China has not shut down exchanges. China has not said it WILL shut down exchanges. The exchanges are up and running.

Edit: Turns out BTCChina is volunatirly suspending services at the end of September
submitted by BakersDozen to Bitcoin [link] [comments]

China’s bitcoin miners in crisis after Beijing shuts down exchanges

China’s bitcoin miners in crisis after Beijing shuts down exchanges submitted by _smudger_ to Bitcoin [link] [comments]

Wall Street Journal - China to Shut down Bitcoin Exchanges

Wall Street Journal - China to Shut down Bitcoin Exchanges submitted by alotosports to ethtrader [link] [comments]

China Now Has The Power To Destroy Bitcoin - YouTube Buy BITCOIN in CHINA ?? Use any Payment Method, including ALIPAY !! China’s about to SHUT down Bitcoin Whales Mining farms in China shut down for tax inspection China was RIGHT To shut down Bitcoin Exchanges & ICO's

China’s central bank has warned domestic bitcoin exchanges they risk being closed if found violating the country’s currency regulations. The warning came as the regulator tries to curb capital outflows following fears of continued weakness in the yuan. On its website, the People’s Bank of China (PBOC) said it has told the exchanges not to take part in financial activities such as margin ... China is moving forward with plans to shut down Bitcoin exchanges in the country, starting with trading platforms in key cities. China Coronavirus continues to disrupt business activities; crypto mining starts to feel the pinch. Bitcoin halvening event in May 2020 could be overlapped by the Coronavirus outbreak. China’s OTC market is not yet liquid enough to allow bitcoin miners to facilitate the sale of hundreds of thousands of dollars of newly-minted bitcoin each day, market observers say. Video ... How Chinese Bitcoin Exchanges Reinvent themselves after the Shutdown of Bitcoin Trading in China . Reading Time: 3 minutes by Christoph Bergmann on November 3, 2017 Bitcoin, Business, Commentary, News. With the beginning of November comes the end of an era in China: bitcoin trading on exchanges is officially prohibited, as exchanges had to shut down their trading platforms. In September the ...

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China Now Has The Power To Destroy Bitcoin - YouTube

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