If china does so, they will miss out on a extremely profitable business - unlikely. But if they go ahead, imagine the profitability for miners on the entire planet skyrocketing. The network will suffer for a time, but surely many people will grab the opportunity to mine digital gold :)
On LTC i agree with the charismatic @haejin, Litecoin is gathering strength and not just charging like a bull :]

Miners have had unfair advantage for years due to heavily subsidised electricity. This is just redressing the balance. It’s good news for the network as less mining power will be centralised leading to a more decentralised network.

you have to differentiate between Chinese people and China government. the government is literally tightening control over everything, especially finance.

Yeah, but still bank of China banning it. Goddamn bankers greed to keep the power. Why I don't invest in ripple or save my money on a bank.... Ever again....

Relax. Just buy some more EOS and Litecoin. ;)

Yeah...It's been happening for awhile. China was the reason for that big Bitcoin dipped last year.

Well, keep cool and let's see. I think LTC will still be good, it has utility and there's always Bitshares!

it is not the bank. it is the China's government. Major banks in China are stated owned. China government is tightening controls in everything, especially financial area. they can't afford another massive capital runaway like last year.

This might be good news for miners everywhere else. Less miners would probably mean lower difficulty.

Coin Marketplace

STEEM 0.17
TRX 0.05
JST 0.022
BTC 16226.59
ETH 1173.11
USDT 1.00
SBD 2.10