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Brokedownpalace

China possible mining “ban” targets POW

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My take from the press on the possible Chinese mining ban is that it is focused on the environmental damage of Proof of Work mining. Specifically electricity. And the crypto market tanked as a result. Why no differentiation of those consensus crypto’s, (xrp, etc) that are clean and pass the test? Xrp prices should be rising 

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I don't understand why Chine would ban mining, if they fully engage into blockchain development and other new tech. 

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30 minutes ago, Arenys said:

I don't understand why Chine would ban mining, if they fully engage into blockchain development and other new tech. 

Because blockchain is not equal mining.

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1 hour ago, Arenys said:

I don't understand why Chine would ban mining, if they fully engage into blockchain development and other new tech. 

I don't think they are fully engaged with blockchain and other new tech.

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28 minutes ago, JBW said:

I don't think they are fully engaged with blockchain and other new tech.

Well, not fully, but I've heard of them launching a PHD in blockchain, or smth

I was surfing the net to prove you wrong about China and eventually found out that there are so many governments adopting the technlogy. I didn't know about Malta, for example!

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41 minutes ago, Arenys said:

Well, not fully, but I've heard of them launching a PHD in blockchain, or smth

I was surfing the net to prove you wrong about China and eventually found out that there are so many governments adopting the technlogy. I didn't know about Malta, for example!

Awesome that you are researching and learning and admitting that you are attempting to prove people wrong... truly awesome! 

What do you think about the newly gained education about Malta?

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13 hours ago, Brokedownpalace said:

My take from the press on the possible Chinese mining ban is that it is focused on the environmental damage of Proof of Work mining. Specifically electricity. And the crypto market tanked as a result. Why no differentiation of those consensus crypto’s, (xrp, etc) that are clean and pass the test? Xrp prices should be rising 

The whole market is tied to bitcoin. It has the most trading pairs and the bitcoin dictators/whales manipulate every crypto market out there.

It will be a long time before cryptos are judged on their merit, and not on being the first or other ideological nonsense. 

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16 minutes ago, Benchmark said:

The whole market is tied to bitcoin. It has the most trading pairs and the bitcoin dictators/whales manipulate every crypto market out there.

It will be a long time before cryptos are judged on their merit, and not on being the first or other ideological nonsense. 

If dozens of banks start using XRP this year as Brad stated then I'm sure it would make a difference.

Otherwise its just kids swapping baseball cards.

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3 hours ago, Arenys said:

I don't understand why Chine would ban mining, if they fully engage into blockchain development and other new tech. 

Wasteful and antiquated.

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On 4/12/2019 at 1:21 PM, EcneitapLatnem said:

Awesome that you are researching and learning and admitting that you are attempting to prove people wrong... truly awesome! 

What do you think about the newly gained education about Malta?

I am trying to do my best :biggrin:

Well, I found out that Malta is called "the world's blockchain island", and that the parliament passed a few laws setting the framework for blockchain regulation which I take as a sign of a huge crypto presence there. I guess it is about attracting investment into the economy

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On 4/12/2019 at 2:44 PM, Phintech said:

Wasteful and antiquated.

Maybe but China was the biggest supplier of miners for all I know, and this law changed the course of action wordlwide.

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