Cryptocurrency mining operations will be closed in China

Home » ALTCOINS » Cryptocurrency mining operations will be closed in China
2018-01-12
Cryptocurrency mining operations will be closed in China

After the Internet financial risk special group meeting on 20 November 2017, local authorities, backed by the Central Bank of China, in the beginning of 2018 began to close all cryptocurrency mining operations in China. As was explained by the Chinese decision-makers, cryptocurrency mining operations that nowadays create a huge part of the worlds supply of Bitcoin constitute an enormous risk for the Chinese internet finance. What is more, cryptocurrency mining needs a big amount of resources –both natural and human, and encourages the speculative cryptocurrency.

Many cryptocurrency enthusiasts, especially from the remote parts of China, already started closing their mining farms, although there is no urgency in it. Professionals argue that such a radical step will significantly influence Bitcoin price and market capitalization volumes.

CRYPTOCURRENCIES
  • bitcoinBitcoin$5,065.24
  • ethereumEthereum$164.58
  • rippleXRP$0.327581
  • tetherTether$1.00
  • eosEOS$5.34
  • stellarStellar$0.114846
  • litecoinLitecoin$79.09
  • cardanoCardano$0.084294
  • tronTRON$0.026593
  • moneroMonero$68.35
  • iotaIOTA$0.318207
  • nemNEM$0.065709
  • dashDash$120.61
  • neoNEO$11.32
What is Cryptocurrency? How to Use, the Future of Crypto, the History of Bitcoin
Cryptocurrency market is actively developing and expanding. This relatively new industry is causing a lot of questions and attracting a huge number of investors, businessmen and ordinary people. “What is the future of cryptocurrency?”, “How to choose cryptocurrency exchange?”, “How to sell Bitcoins?” “What about cryptocurrency mining”? Millions of people read cryptocurrency news everyday and […]
2019-04-08 0 48
What is Bitcoin?
The cryptocurrency industry is becoming more and more popular all around the world. Despite the fact that there are more than 1000 different cryptocurrencies and the number keeps growing, cryptocurrency is often associated with Bitcoin. Bitcoin is the first modern cryptocurrency in the world; it attracts thousands of users and investors from different countries. Millions […]
2019-03-20 0 46
Bitcoin, Ethereum, Ripple, Monero, Dash, Tron: major differences and features
Investors see different names of cryptocurrencies and the movement of their courses, but typically don’t even know why the digital coins are so popular. Most of us have already Googled “How to buy Bitcoin” or “How to sell Ethereum”. Cryptocurencies are becoming more and more popular: Bitcoin price is fluctuating and its value is not […]
2019-03-19 0 45
What is Blockchain?
“Giving users easy access to many different kinds of digital assets on the blockchain and, particularly, tokens that are linked to assets in the real world, is crucial to seeing blockchain adoption reach the next level, and I applaud Digix Global’s initiative in being the first of many such projects to successfully launch” – Vitalik […]
2019-03-06 0 43
© 2017–2018