Mining Network China

A. Banning the circulation of digital currency but allowing it to be mined, what is the purpose of this in China?

The Chinese government prohibits the circulation of Bitcoin on all platforms and shuts down all Bitcoin transactions platform and see Bitcoin as a safe haven for criminal activities such as money laundering.

In addition, Bitcoin will in the near future remove the role of middlemen – such as banks, so that no institution or government can control or monopolize this decentralized currency.

Bitcoin transactions are done in a direct way without any financial intermediaries, that is, Bitcoin can be done directly between buyers and sellers without the need for a third party or other traditional paper money as intermediary. Therefore, Bitcoin will pose a major threat to the banking system.

The Chinese government allows Bitcoin mining based on two characteristics. According to a report released by Bitooda, a cryptocurrency specialist company, China has become a fertile ground for global cryptocurrency mining and accounts for more than 50% of the total global mining volume.

It is reported that the value of one bitcoin is currently equivalent to 31,000 US dollars, which means that China has obtained huge profits from the mining process. Therefore, it can be said that the Chinese government is treating Bitcoin in a way that is in its national interest, while also safeguarding the digital renminbi from any competitors. This shows that China is full of wisdom and rationality when it comes to Bitcoin, and makes it in the national interest.

B. The China Internet Finance Association requires all localities to shut down bitcoin mining projects, do you support?

China Internet Finance Association requires all localities to shut down bitcoin mining projects, and it is true necessary. It is undeniable that Bitcoin mining does consume a lot of electricity, so it is precisely because of this that the prohibition of Bitcoin mining projects is also to save energy. Therefore, it is worth advocating in itself, so we can look at the problem from the following aspects.

3, in today’s social development, it is more important to save energy and resources, and Bitcoin mining projects do need to consume a lot of electricity, which is contrary to the concept of social development.

In fact, it has to be said that we will find that Bitcoin mining itself is indeed understandable. However, in the process of implementation, there is a phenomenon of consuming a lot of electricity, which causes resource and energy consumption. Therefore, in today’s social development, more emphasis should be placed on saving resources and energy, so it is necessary to effectively shut down bitcoin mining projects everywhere.

In fact, it has to be said that Bitcoin mining does consume a lot of power resources, and it is precisely because of this that shutting down Bitcoin mining projects is conducive to intensive energy and resources. Moreover, Bitcoin itself does have great risks as a virtual currency, so it will lead to loss of interests of some people, so the market should be rectified.

C. Red Alert 2 Why are there no mining and engineers in the UK, France, and the US, while China and South Korea have single-player games that can be connected online

Allied forces, after building mining farms, will Create a super-dimensional minecart. If you want to create a minecart, build a chariot factory. After you build it, you can create a minecart. The engineer can only create it after you have left the barracks

D. 2021 Is mining illegal?

The country has not issued any laws stating that bitcoin mining machines are illegal. The criminal law does not clearly stipulate that mining is illegal, but due to high energy consumption, it is not recommended
(4 )Mining Networking China Extended Reading:
1. Mining machine is a computer used to earn bitcoins. Such computers generally have professional mining chips, which mostly use the way of burning graphics cards, which consumes a lot of power. . The user downloads the software with a personal computer and then runs a specific algorithm. After communicating with the remote server, the corresponding bitcoin can be obtained. This is one of the ways to obtain bitcoin. For mining pools with financial risks and high energy consumption, green technologies are encouraged, and the documents are clear It is pointed out that Bitcoin is a waste of energy-intensive resources, but at the same time encourages investment and financing behaviors that follow the green concept.
2. Item 4 of Article 225 of the Criminal Law: “Engagement in other illegal business activities, disrupting market order, and serious circumstances” constitutes the crime of illegal business operations. The mining behavior objectively disturbs the market order. If the circumstances are serious, it constitutes a crime, and the maximum sentence is 15 years; if the circumstances are not serious, a fine of less than 200,000 yuan can be imposed according to administrative violations (after the Banking Law is revised, this amount will be adjusted to 20 million yuan)
3. From the point of view of attack, some professional mining farms may be banned by power outages, not providing professional venues, etc., or requiring host manufacturers to limit computing power to prevent large-scale sales of professional mining machines, etc. Wait. For personal transactions, the most core means are to restrict the domestic login of all foreign transaction websites, and for over-the-counter transactions such as otc, the chain of transactions between digital currencies such as bitcoin and legal currency is cut off from the means of payment. However, this kind of regulation requires a lot of technical handsIt may not be easy to implement. It is relatively easy to manage the personal bank accounts and payment accounts of some specialized trading merchants. However, for transactions between ordinary individual investors, the supervision may only refer to relevant regulations such as anti-money laundering. Traceability supervision. Therefore, on May 19, 2021, the China Internet Finance Association, the China Banking Association, and the China Payment and Clearing Association issued the “Announcement on Preventing the Risk of Hype in Virtual Currency Transactions”, which is actually a warning and an act of hyping digital currency. “Declaration of War”.

E. Does bitcoin mining need networking?

It uses a P2P network model and needs networking

F. Does China have bitcoin mining software? Can anyone help me find a real foreign bitcoin mining software

Bitcoin mining software refers to the bitcoin mining client, this one is universal and does not exist in China Or say it abroad.
Bitcoin mining currently requires professional mining machines. Now Bitcoin mining is a very professional thing. Retail mining has been gradually eliminated, and Bitcoin mining has gradually been replaced by several large mining machines. Manufacturers and major mine owners control.
As long as it is digital currency, mining is allowed, and mining can be done anywhere. As long as it can be connected to the Internet, mining generally uses ordinary computers or graphics cards for mining or professional ASIC mining machines for mining.
Some digital currencies do not need to be mined and are pre-mined in advance, such as Ruitai coin, but Ruitai coin is an asset-backed certificate. Of course, most of the others need to be obtained through mining, such as Litecoin and Gold Card mining.

G. Huobi suspends mining machine services in mainland China, this is why

China Daily Shopping Center 23 news, today’s online chat about “Huoqian Mall customer service” screenshot, the screenshot says : “According to China’s latest industry regulatory policy, the shopping center has decided to suspend the provision of mining and derivatives services for users in mainland China. Users who have purchased BTC mineral machinery products will suspend the provision of mineral machinery custody services. Removed from the shelves. The Chinese mainland shopping center responded to the “Science and Board Daily”: “This year, the development of the globalization of the shopping center business is accelerating. In order to concentrate on expanding overseas business, the mining center decided to suspend the provision of related services to users in mainland China. Mining machinery solutions owned by old users will inform customers at a later date. ”

The company said it will focus on overseas services. Bitcoin mining pool BTC.TOP has also ceased operations in China, citing growing regulatory concerns as the reason for the move. At the same time, Hashkao announced that it will not invest in any new BTC mining rigs. China is no longer the world’s leading crypto trade destination due to China’s 2017 ban. Now it is, says BTC.TOP founder Jiang Zhuoer May “lose crypto computing power to foreign markets as well. ”

H. The official media named the crackdown on bitcoin mining, is mining going to be “cool” in China?

The official media named the crackdown on bitcoin mining and trading, here Under the signal, bitcoin mining and trading will be cool in China, which is something that does not need to be questioned.

In fact, bitcoin trading is so high-risk, bitcoin is cool sooner or later, only But now there is a warning for those who have entered or are about to enter. Now that they have entered the bitcoin trading market, but have not lost all their money, they can actually look at their bitcoins rationally and withdraw from bitcoins at the appropriate time. Those who haven’t entered, must not enter the Bitcoin trading market again, otherwise it will not only be an illegal act, but will also be bankrupted by the big dealers because they are not rational and their wealth is not rich enough. Bitcoin should have been Cool, it’s just that the relevant departments have not taken action before. The behavior of Bitcoin trading not only affects ordinary investors, but also has certain damage to the market order.

Actually, Bitcoin Bitcoin trading and mining should be cool, and should have been cool for a long time. It is normal until the relevant departments regulate Bitcoin transactions. We must be cautious about Bitcoin transactions, after all, in the Before there was no control, a considerable number of people had already lost their fortunes because of Bitcoin hype, which also had a certain impact on the order of social transactions.

I. At present, the most profitable virtual platforms for transaction mining in China are: Do

recommended ecocoin mining for coin exchange transactions, which mainly supports ordinary computer mining, saves the cost of mining machines and has sufficient circulation. It is not a problem to mine hundreds of coins every day.

J. Can China mine?

At present, bitcoin mining still exists in China, but due to stricter regulatory policies, many miners have left. Because of this industry �It may be difficult to make money after ��.

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