Crypto in China

There are rumors swirling about that China will potentially end its bitcoin ban. If this happens, a serious question will be raised… “What was the darn point?” China, Make Up Your Mind About Bitcoin! China made headlines over the summer when it announced that it was going to force all bitcoin miners from its territory following pressure from Beijing to become more carbon neutral. From there, things took an even uglier turn when the country stated it was making all...

Up to this point in time, China has always been the dominant country when it comes to mining bitcoin. Sadly, the region has done all it can to eliminate its standing in the industry, and now it looks like another nation – the United States – has opened itself up to become the world’s primary leader in the world of bitcoin mining. China Has Been Outdone By the U.S. China was – at one point – home to about 65 to 75 percent of the world’s crypto mining projects. It also is...

The consequences of the Chinese ban on anything crypto, including mining, have led to a massive flippening as the USA has surpassed China in terms of Bitcoin hash rate share, showed recent data. The Demise of the Chinese Hash Rate Empire Although bitcoin and the rest of the cryptocurrency industry have been banned within China’s borders for almost as long as they exist, the country was responsible for the majority of the BTC hash rate for a long time. In fact, no other nation...

Nordik Coin – a cryptocurrency exchange based in Estonia – is moving deeper into Asia. Nordik Coin Is Moving To Asia and Oceania Asia is a continent that has had a very mixed relationship with bitcoin and other cryptocurrencies. For example, China – one of the largest nations on the continent – has pushed all crypto miners off its turf, and now, regulators have announced that crypto transactions are fully illegal within China’s borders. Thus, anyone who engages in crypto...

The bitcoin and cryptocurrency spaces are really starting to pick up speed. At the time of writing, the world’s primary digital currency by market cap is trading for just over $54,000, which is about $4,000 higher than where it was just a few weeks ago. Bitcoin Continues to Make Its Mark On the World The currency typically experiences bearish activity in September. In 2020, for example, the currency fell to about $10,000 per unit from $12,000 during the previous month....

Bitmain – one of the world’s largest manufacturers of bitcoin mining machines – revealed it would no longer deliver crypto mining rigs to mainland China addresses. However, the firm would continue shipping its products to overseas destinations. The Crypto Ban Reached Bitmain The Chinese crackdown on cryptocurrency mining and trading has affected Bitmain as well. The Beijing-based company announced on its WeChat account that it will halt shipping its Antminer crypto mining...

The infamous US whistleblower – Edward Snowden – criticized CBDC’s potential impact on the financial network. He labeled them as a “perversion of cryptocurrency” and a “cryptofascist currency,” as they could grant a lot of power to the governments and leave less freedom to the people. CBDC – ‘a Cryptofascist Currency’ The computer programmer who worked as a subcontractor for the National Security Agency (NSA) – Edward Snowden – opined strongly against the potential use cases...

Over 20 Chinese digital asset-related businesses revealed they will halt their operations and withdraw from the local market as the country continues its hostile stance on anything crypto. The Effect of The Chinese Crypto Ban China’s negative stance on the cryptocurrency industry has been known for years, and the local authorities tend to remind investors about it frequently. At the end of September, the country’s central bank published a document indicating that trading and...

Bitcoin has hit $50,000 per unit once again. The world’s number one digital currency by market cap has surged in recent days to a figure that it hasn’t seen in quite some time. Bitcoin Is Spiking Like Never Before As we have witnessed in the past, September tends to be rather bearish for bitcoin. This was never more evident than in 2020 when the digital currency – which was trading for about $12,000 per unit during August of that year – fell to about $10K just a month...

China has banned cryptocurrency. As one of the largest territories in Asia, one would think that the nation of China is setting the stones in place for a continent that has no desire or use for the world’s number one digital asset, but apparently, the situation has led to the exact opposite. Asia Is Moving Ahead as a Crypto Haven Despite China’s sudden hate for BTC, it looks like crypto activity in Asia has grown by more than 700 percent over the past few months, almost...