That's a BS, they're obviously trying to make way for their digital yuan that's why they're cracking down on crypto and masking it as a protection from financial risk which isn't a thing that can happen when you're not greedy when you get into crypto.

How many times will this happen again and again until people finally realize this is just a strategy on their side and nothing else? It already got quite boring for me to hear about China crackdowns, lol. They've been doing this for years and they will continue to, especially since they know that these news have a strong impact on prices.

I have been hearing this same shitty news for like few months. How many times are they doing to "ban" mining? I thought they already did this few months ago and all miners moved their business somewhere else better and cheaper. Are the media (or China) still trying to spread FUDs based on this event? No one now really cares what China is doing. They hate bitcoin because they want to introduce their own centralized state crypto currency.

I think now even China can be considered a dictatorship as the government and the PBOC(People Bank of China) are trying to force their way in their fight against cryptocurrencies.They say they have done this because it was impacting their economy but I think this is not correct,their economy just like any other economy was hit by the pandemic.The pandemic (Covid 19) where did it originally generated from?You guessed it,China.They are only to blame themselves as they will not win the war against crypto no matter what they do,nor will any other country as long as crypto remains decentralized.

Well, we have nothing to do with this. China is definitely doesn't want crypto anymore and this another set of the ban issued to all crypto mining industry has a huge impact on the market. I'm not sure if this will address their concern of protecting their economy. I don't find this a simple attempt to combat the spread of crypto but this was so-called greediness in power and they have to do everything just to put an end.

I'll expect a price fall not today but in the coming days unless if people would never think of this as a big issue that leads to worries.

So the previous ban in Bitcoin mining is different from the cryptocurrency mining they're doing today?

Their government itself somehow is confused about what its doing but the Chinese BTC investors are ignoring the government bans already, the mining may be banned there but they just can't make BTC stop because even the biggest businesses in China include the tech companies who are also engaging in cryptocurrency.

It's not really the case, crypto is traceable and most government have their own ways to trace those crypto if it ever fall to the wrong hands, although it's going to need a lot of patience and grit though. It has been a decade already, pretty sure that tracking technology has advanced already.

China will not allow bitcoin to be world's principal currency until the ownership of the first early mined 1.000.000 Btc is clarified. I think it is very reasonable.

But who says that bitcoin will become the world's principal currency? Still the US dollar is on top and then Yuan trying to be the next.

Those arguments against bitcoin's having a bad effect on the environment is total bulls**t. It's quite misleading actually, as there are a lot of industries that contribute more to the green house effect. Bitcoin mining is not one of them, China just created negative news about it because they have their own narrative behind.

I feel they have really done enough and people are already getting bored of hearing them ban Bitcoin more than 2twice a week. They should do everything they wish once and rest, Bitcoin is now bigger than anyone or country.