Forks to Be New ICOs and China Bans Mining Crypto ?
CnLedger is best source for translated news from China about Cryptocurrency.
So does it mean soon we will see forks of all coins with premines just to make "ICO" business working ?
Today there was news that mining BTC will be banned in China too - http://m.caijing.com.cn/api/show?contentid=4360561
腾讯财经《一线》刘鹏
国内监管要求关停比特币交易所之后，比特币产业链的上游——“挖矿”，也开始受到影响。
11月14日，腾讯财经《一线》从比特币矿工处获悉，来自四川的电力公司已经下发通知，称利用电力生产比特币属于非法运营，要求并网水电站需要全部停止比特币生产，否则将被“予以解网处罚”。
“挖矿”，是比特币世界中的行话，具体指利用芯片的计算能力，在比特币系统产生的区块（block）中不断进行“哈希碰撞”，赢取记账权，从而获得系统奖励的比特币。这一枯燥而重复的过程，在比特币行业被形象地称作“挖矿”。
“挖矿”过程中，最大的支出即初期的矿机投资和矿机日常运转所耗费的天量电力。为了降低生产成本，比特币矿场大多“随电而居”。腾讯《棱镜》此前曾报道，受益于内蒙古和四川两地充沛的电力资源，中国拥有世界上最多的比特币矿场，对比特币的生产有着垄断之势。一位比特币矿场主曾告诉腾讯财经，“四川有全国最多的水资源，大大小小的水电站有好几千座，电力充裕，甚至很多时候因为电力供过于求，一些本应该用来发电的水只能白白放走，我们把它叫做‘弃水’。”比特币拯救了这些“弃水”。原本需要从水电站放走的水流，被用来供给比特币矿场发电使用，水电站赚取巨大收益，而矿工们则得到了梦寐以求的低廉电力。
但随着国内监管对比特币交易所的收紧，以及电力公司与小型水电站之间利益之争，比特币矿场急需的电力供应，逐渐被地方电力公司勒紧缰绳。一位矿工告诉腾讯财经，四川一方面在政策层面下发通知，要求不得再新建小型水电站；另一方面，电力公司正在加紧收购小型水电站，促使后者电力并网，比特币矿场低价用电的空间日渐逼仄。
Of course its hard to say but we should watch this markets. China is the main driver (currently aftr Korea) of cryptocurrency.
Markets
Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips! |
 |
|---|
more distributed power!
If the mining in China stops where will the processing power to run the block chain go? Would they decrease the difficulty of it thus allowing miners in other places to pick up the slack?
If you are apart of a mining pool or know where to look at mining charts showing geolocation of miners, you will see there is stall a vast amount of miners in the united states, and southern american parts like brazil and peru as well as some european and other smaller asian countries.
So long as there is a supply and demands for coins that are mineable, there will always be miners. It is naive for these companies to think coins can be sustainable without mining the currency. How do you think the network remains secure and actually live? POS (Proof of stake) is not sustainable enough a system by itself. You need to start looking at dual currencies that use coins and commodities, this means boosting the POS network with proof of work (mining).
People that don't fully understand the market are also those with the big labels, please understand there are definitely companies that understand how this work and will throw publicity stunts to capitilise on how volatile the market is at the moment to try and cause fluctuations in the market place. To properly understand the trends, you need to start looking at what the miners are actually mining...
Hard forks are like hefty dividend payments. Enjoy.
Hard forks can also directy affect other currencies, watch whos backing what currency and what their agenda is. It's better to try and support currencies that favour true peer to peer systems where there is no regulation like I believe sakoshi nakamoto intended..
Chinese State Grid was moving to ban bitcoin mining at a county level in Sichuan province, an ostensibly notable development given the area's abundant water supply for electricity generation and the fact that profit-chasing bitcoin miners are headquartered in the region.
A lot of mining seems to be moving to Iceland, which is really cold (therefore miners don’t need to waste money trying to cool their machines) and has plenty of cheap renewable energy and good internet connection : http://uk.businessinsider.com/photos-iceland-bitcoin-ethereum-mine-genesis-mining-cloud-2016-6/?IR=T/#the-company-had-early-mines-in-bosnia-and-china-and-most-of-its-operations-are-now-based-in-iceland-3
This has already been happening, and I think more and more mining will go to Iceland as a result of China’s decision.
I really hope not but that does seem to be where we are headed. They call them airdrops to give them a better look in the headlines lol but they are just flat out forks that serve no purpose but to scam and take money. It does not hurt to own the coins that get forked though!
I can't follow this complexity. Where do I go to get my 666 stamp.
i support what you are saying
Yeah you seems to be correct as the latest outcome of that is BITCOIN GOLD [BTG],If I'm not mistaken
China is not banning mining, no need to panic :)
https://www.coindesk.com/state-owned-power-provider-denies-chinese-bitcoin-mining-ban-rumors/
Ah you are so fast I haven't even bought the rumor yet...
Good to know!
thanks for sharing great idea about crypto.
This comment has received a 20.00 % upvote from @sleeplesswhale thanks to: @babarrajo.
Does that mean we the normal people can mine and profit gain? That cant be all bad?
No, not really. Unless you have at least $100k and have access to extremely cheap electricity there is no way you can make profit by mining on major coins and the small cap coins are a risky investment. It is a nice hobby and if the prices of coins will continue trend you will get your money back but just buying the coins is much simpler and brings more profit.
So true, too late in the game now with all the big players around.
I am totally forked...
Mining ban? What a thinking of china lol
Please help me
What do you need @pinkisharma?