Authorities in China have Not Banned Bitcoin Mining , Be aware of Rumors
It is easy to spread rumors in China regarding the mining of bitcoin after they banned some of the largest crypto exchanges of China. Rumor was spread by an electric utility company however local resources have denied this rumor. Electric utility is stated in Sichuan and they issued a document stamped by their officials containing statements about banning bitcoin.
Head of company has accepted its mistake and he has clarified that the document contains no weight because it was issued by country branch and it has no right to issue such a statement. He also clarified that main reason for all this confusion was a term of agreement that states that residents should be given priority over businesses when making plans for electricity distribution.
Actually this was not a rumor but confusion that became the reason for all of the bitcoin miners to believe that bitcoin mining has been banned however now it has been confirmed that China has not banned bitcoin mining so feel free to mine Bitcoin in China.
Isolated in rural northeastern China, six Bitcoin mines led by a mysterious group of four engineers generate more than 1.3 million euros each month.
Last October, Motherboard visited one of them and met with its leader.
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Sounds like the little "article" some of the youtubers have gotten their hands on about how the UK was trying to ban bitconnect. Seems that it is just now getting to these people but was posted 4 months ago. Looks like that fell flat or was just a really bad rumor trying to hurt the market.
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