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Chatter - Jan 19, 2018

Bitcoin threatens the financial fabric of this huge nation.

China waged an all-out war against Bitcoin that threatens to shatter it

The question is why?

  • According to the media, the crusade of the Asian country against cryptocurrency began less than half a year ago, with the banning of the famous ICO and the closure of local exchanges. Now, the most powerful mining community in the world fears being the next target: the Asian power plans to impose restrictions on energy consumption, which would radically change the production of bitcoins. In response, the main groups of miners plan to move their activity to other territories.

  • As expected, Bitcoin will once again be among the technological protagonists of the year that we have just released. While some believe that in 2018 will continue to break again and again its historical highs, others think it will be the year in which the bubble burst leaving more defeated than victors. Be that as it may, in these first days a most desolate panorama has been painted for the largest community of miners in the world.

The People's Bank of China (BPC) has urged local authorities to impose restrictions

  • Moreover, China is not the only one concerned by the repercussions of the Bitcoin boom. South Korea banned the ICOs and now weighs close the exchange platforms, Russia also alarms the energy expenditure and the European Union believes that its market needs to be regulated. While waiting for new regulations, while for many Bitcoin is still the hen of golden eggs, others see near its end and do everything possible to speed it up.
Everything indicates that the governments want to regulate the Icos because of the miners, thus, justifying the totally incredible expenses of light used by the miners.

Have a good day, greetings from Coronelpyotr, visit my profile for more blog :)


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