From Cointelegraph
It’s been a tumultuous couple of weeks in the Bitcoin community, as negative news spread throughout, driving prices lower. News of a China Exchange Ban, as well as negative rhetoric from the CEO of the world’s largest bank (JP Morgan Chase), knocked the legs out from under the Bitcoin price.Read more: https://www.cointelegraph.com/news/china-will-heavily-crack-down-on-all-bitcoin-tradesHowever, a recent article in the Wall Street Journal indicates that the negative news still isn’t done. According to undisclosed sources, the Chinese government has officially decided to crack down on all Bitcoin and cryptocurrency trading, not just commercial exchanges. According to the WSJ:
So with China cracking down on bitcoin does this mean we could see a major shift in the bitcoin mining network? What do you think current bitcoin mining operations in China will do? That's an awful lot of hardware they have invested in. Will perhaps see a firesale of commercial grade mining equipment on ebay soon?
Leave your thoughts in the comments.
Follow @contentjunkie to stay up to date on more great posts like this one.
