News China's Ban On Cryptocurrency Mining Expands to Additional Provinces

[Admin]

China's ban on cryptocurrency mining has expanded to the Qinghai and Xinjiang provinces.

China's Ban On Cryptocurrency Mining Expands to Additional Provinces : Read more

 

[Phaaze88]

What is going on?
I read on TPU that it wasn't banned, this site is saying it is banned...

 

[peachpuff]

Is it banned in Taiwan too? No? Thought so...

 

[kep55]

Oh, poor babies. They can't waste time and resources on another get rich quick scheme.

 

[digitalgriffin]

Said 3, 4 years ago China was going to ban it.

Govt do not like what they can't control.

 

[watzupken]

"Bitcoin miners affected by these restrictions might want to consider a move to El Salvador. The country has embraced the cryptocurrency by accepting it as legal tender, considering a move to extend citizenship to anyone who owns three bitcoin, and, of course, planning to establish volcano-powered mining operations."

I like this. Sounds like a good "ant bait" to me. Get all the crypto miners around a volcano and wait for it to erupt.

 

[FB36]

China's ban on cryptocurrency mining has expanded to the Qinghai and Xinjiang provinces.

China's Ban On Cryptocurrency Mining Expands to Additional Provinces : Read more

Bitcoin/cryptocurrency is either absolutely useless or absolutely unnecessary for any legitimate purpose but extremely useful for many illegitimate purposes, like money laundering, illegal (drug) trade, collecting untraceable ransomware payments!
(Not to mention they are keep wasting massive amounts of electricity!)
After proven useless as "virtual currency", they are now promoted as "virtual asset" (investment)! But, why do we need fake investments when we have plenty of real investments?
What would happen to whole world economy, if everybody invested in fake investments, instead of real investments?
Why do you think "Satoshi" took first 1 million bitcoins & disappeared to hiding (instead of proudly showing himself to whole world)? Realize it means government law enforcement cannot go after him! Also realize, as soon as "Satoshi" sells his share, everybody would rush to sell all their bitcoin/cryptocurrency! & so suddenly millions of people would lose all their invested money!
Bitcoin/cryptocurrency is just a new kind of scam (just like Ponzi Scheme or Pyramid Scheme invented in the past)!
It is not the first time that so many smart & educated people fell for really clever scam!

 

[daworstplaya]

Funny how it went from a "currency" to an "asset". Good riddance, now all the remaining countries need to ban this monopoly money of no real value.

 

[InvalidError]

Funny how it went from a "currency" to an "asset". Good riddance, now all the remaining countries need to ban this monopoly money of no real value.

I'm sure they will, once more countries try collecting taxes on crypto and mostly fai or more ransomware uses crypto for payments. Got to cut it off before efficient crypto-laundering networks get established.