Can China ban bitcoin mining

1. It's not illegal, but it can't be found basically

2.

It's not against the law

The laws and administrative regulations in China do not prohibit the proction, holding and legal circulation of bitcoin, nor do they prohibit the sale of bitcoin mining machines

2. The investment and transaction of "virtual currency" represented by bitcoin are on the rise. For this kind of virtual goods generated in the Internet environment after the development of Internet technology, there are policy and commercial risks in related transactions. However, under the premise of not violating the mandatory provisions of laws and administrative regulations, the contract signed by the parties is a valid contract

3. Bitcoin is generated by "miner" and "mining", and "miner" can be assumed by anyone in any place in the world. "Mining" is a process in which "miner" provides certain computer computing power according to the open source software provided by the designer, and obtains the special solution of the equation through complex mathematical operations, The miner who gets the special solution gets a certain amount of bitcoin reward

Because bitcoin is based on workload proof, it is related to computing power. To have computing power, we need to consume power, so its power consumption is very large. It is precisely because of such a large power consumption that the safe and stable operation of bitcoin system can be guaranteed

extended information:

according to the data of btc.com website, up to now, the computing power of the whole bitcoin network is about 51.65 eh / s, which is equivalent to 1.84 million bitcoin S15 (28T computing power, 1596w power) mining machines in operation, and the daily power consumption is about 69.92 million kwh. Divided by the current proction of 1800 bitcoins per day, excluding other costs, each bitcoin will consume 38800 kwh of electricity. "

from this point of view, although the current price of bitcoin is expensive, the cryptocurrency market website coinmarketcap.com shows that the current unit price is about $7900, but the cost of mining a bitcoin is not low at all

3.

On September 27, 2017, Beijing time, venture capitalist and founder of "social + capital" Fund said that although bitcoin encountered temporary difficulties in supervision and other aspects, "no one can stop its development."

the key lies in whether it can be realized and recognized by the management. The world is very different

4.

The Chinese government has banned the circulation of bitcoin on all platforms, closed all platforms for trading bitcoin, and regarded bitcoin as a haven for criminal activities such as money laundering

In addition, bitcoin will eliminate the role of middleman in the near future& mdash; As a result, no institution or government can control or monopolize this decentralized currency

the transaction of bitcoin is completed in a direct way, without any financial intermediary, that is to say, bitcoin can complete the transaction directly between the buyer and the seller, without the need for a third party or other traditional banknotes as an intermediary. Therefore, bitcoin will pose a major threat to the banking system{ RRRRR}

based on two characteristics, the Chinese government allows the exploitation of bitcoin. According to a report released by bitooda, a professional cryptocurrency company, China has become the world's fertile ground for cryptocurrency mining, which accounts for more than 50% of the world's total mining

it is reported that the value of a bitcoin is currently equivalent to US $31000, which means that China has made huge profits from mining. Therefore, it can be said that the Chinese government is treating bitcoin in a way that is in line with its national interests, while protecting the digital RMB from any competitors. This shows that China is full of wisdom and rationality when dealing with bitcoin, and makes it in line with national interests

5. Not to mention that there is no law for the time being. What will the government think of it in the future

6. Take Luobao line at Gushu subway station and get off at Luohu station. It takes about 1 hour and 30 minutes to get there. The ticket price is 8 yuan.

7. Come on, India is fooling around.

Chang Shenkai's gold coupons and the forced exchange of the two fat men's currencies are lessons from the past.
India has been kicked in the head this time.

in this way, 80% of the currency in circulation in India is a super piece of large denomination. What's the concept of prohibition? Serious deflation, the market liquidity is gone
the result is that we can only rely on foreign currency or barter trade
the former result is that the domestic currency loses credit and becomes the world of foreign currency

moreover, the number of banking personnel in India is about 1.8 million. According to the calculation of 1 / 3 counter personnel, how many areas can be covered by 600000 people? Rural areas can't be covered at all
the result is that they can't cash in on time, forming a panic, and the result is to speed up the contraction
economic collapse

in turn, the powerful class got information before, and this time they just took advantage of ordinary people's crazy rush to buy, and they were full of fat

this is the real wool shearing