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Saturday, January 6, 2018

China is cracking down on cryptocurrencies and bitcoin miners are fleeing.

https://finance.yahoo.com/news/bitcoin-miners-reportedly-fleeing-china-190445805.html

This is not surprising if you understand how China works.

The bitcoin fanatics are just in denial that the bitcoin ban in China is just temporary and bitcoin trading will resume in China soon.  However, we've stated in our previous post that this is impossible.

https://sg-stock.blogspot.sg/2017/10/bitcoin-soars-to-all-time-high.html

If the bitcoin trading ban is just temporary in China, the bitcoin miners won't flee and forsake their set up costs.

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