China bans crypto currency mining

in #china • 5 years ago (edited)

The Chinese government is very good at one thing. That is, banning anything that could threaten the authority of the chinese government. That's why they banned Bitcoin, a decentralized cryptocurrency. Their central bank doesn't want competition.

Then, they banned ICOs. Then exchanges. And at last, they are banning Chinese miners. The good news is, there won't be a large impact of this in the crypto market. The bad news is, Chinese miners will get rekt. Or maybe not..

Update: Looks like the ban might have had a little impact. Bitcoin price went down from $5400 to $5150. That's not a significant impact. Some atl coins were hit hard but those with real use didn't get affected that much.

#crypto #ban #blockchain #mining
5 years ago in #china by
$56.30
  • Past Payouts $56.30, 0.00 TRX
  • - Author $42.51, 0.00 TRX
  • - Curators $13.79, 0.00 TRX
173 votes
Reply 2
Sort:  
  • Trending
    • [-]
     5 years ago 

    Congratulations @littleboy! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

    You received more than 40000 upvotes. Your next target is to reach 45000 upvotes.

    You can view your badges on your Steem Board and compare to others on the Steem Ranking
    If you no longer want to receive notifications, reply to this comment with the word STOP

    Vote for @Steemitboard as a witness to get one more award and increased upvotes!
    $0.00
      Reply
      [-]
       5 years ago 

      Hi @littleboy!

      Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
      Your UA account score is currently 4.178 which ranks you at #3133 across all Steem accounts.
      Your rank has improved 84 places in the last three days (old rank 3217).

      In our last Algorithmic Curation Round, consisting of 234 contributions, your post is ranked at #213.

      Evaluation of your UA score:
      • Some people are already following you, keep going!
      • The readers like your work!
      • Try to work on user engagement: the more people that interact with you via the comments, the higher your UA score!

      Feel free to join our @steem-ua Discord server

      $0.00
        Reply

        Coin Marketplace

        STEEM 0.30
        TRX 0.12
        JST 0.033
        BTC 64029.44
        ETH 3157.04
        USDT 1.00
        SBD 4.02