Could The New “China Model” Be The Reason The Country Banned Bitcoin Mining?
What is the new “China Model”? And why would that country ban an industry that made them the ultimate leaders in the most important development in recent times? The world is still scratching its head. There has to be something else to this story. Is it only control that they want? Or does China have a secret plan nobody’s been able to figure out? We at NewsBTC have been studying the case, looking for clues, reporting on related news. After the ban, when Bitcoin’s hash rate collapsed, we posed Bitcoin Magazine’s Lucas Nuzzi’s theory that it all had to do with the Digital Yuan, China’s CBDC.....
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Kosovo has banned crypto mining on Tuesday in an effort to reduce electricity use as the country grapples with its worst energy crisis in a decade as a result of electricity disruptions. Kosovo Bans Crypto Mining Operations Due to electricity shortages during the winter season, the government of Kosovo has decided to stop crypto mining in the country. According to a report by local newspaper Gazeta Express, Kosovo’s Minister of Economy, Artane Rizvanolli, has decided to ban crypto mining following a recommendation from the Technical Committee on Emergency Measures for Energy Supply.....
Iranian President Hassan Rouhani has announced that cryptocurrency mining is banned in Iran, effective immediately. The ban, which will last until Sept. 22, is imposed as many cities in the country are facing major power blackouts. Iran has banned cryptocurrency mining effective immediately, President Hassan Rouhani said on Wednesday in a televised speech at a cabinet meeting. He was quoted by the media as saying: The ban on the mining of cryptocurrencies is effective immediately until September 22. Many cities in Iran are facing major power blackouts and the government has blamed power....
No amount of FUD can keep Bitcoin down, and China has once again given bulls a boost with its bans. It’s been 150 days since China banned Bitcoin (BTC) mining — and BTC price action has only benefited as a result.Five months ago, China caused a considerable but not unsurprising stir by doubling down on its hostile environment policy toward cryptocurrency.Bitcoiners to China: Thanks for the banJust like every “ban” before it, China’s move against miners saw temporary price turbulence, matching the biggest physical upheaval in Bitcoin’s history.As miners powered down and relocated out of....
Banned bitcoin miners were found using China’s state resources to carry on with their operations. This happens in the midst of a severe power shortage and the country’s fierce attempt to shut down all BTC mining. The recent coal crisis in China raised their interest to speed up the shutdown of all Bitcoin mining operations. […]
China’s crackdown on Bitcoin mining has led to an increase in clean bitcoin mining operations. Even though trading of cryptocurrencies has been banned in China since 2017, the country still leads the world in crypto mining rigs. Accounting for nearly 70 percent of mining operations in the world. A number that has always worried the […]