A CHINESE BITCOIN? China blocks VPN's in Feb 2018. Major Mining Ops of Bitcoins there... What will happen?
There is something going on in China regarding VPN's. VPN's there are the way there to access the outside Internet. Chinese bitcoin miners have a big say as the electricity there is quite cheap. They have to be able to send and receive blocks from the outside.
I think this could be a major issue if they achieve to shut down all the ways to communicate via VPN's with not whitelisted IP's. Bitcoin nodes definitely would not be in a whitelist.
- Would this be only another fork between a chinese blockchain and the rest of the world blockchain?
- Would it just result in a lowering of the total hashrate for the rest of the world?
- Will only Proof of Work coins get problems or (Delegated) Proof of Stake coins as well?
- Or will they just go around this and nothing happens?
What are your thoughts about this?
hmmm, possible that hashrate will go down. Accually this is not very good news but I guess they will find a way around it not? They always do.
Whitelisting IP's would be a total killer... Then China would really be an Intranet.
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Everything will be effected by this... if they whitelist IPs no provider for VPN would get a license...
I'm still new to cryptocurrencies but from what I've read, this could make things very interesting!
I would prefer to not have this issue... there are many really interesting things going on which can advance the world. This is not one of them.
I dont think they can find any solution, we might see there own crypto like everything else
This would make their capital controls once again working... No Chinese person will be able to evacuate more than 50.000 USD a year...
'No Vpn No mining' (O0O). I kind of feel sorry for the Chinese people , i just hope that the chinese government will think about these miners. I Truly hate censorship.
Yep, they will think of them... perhaps raid them.... ;)
LMAO XD
China always trying to be the best I swear, Well we do get all of our stuff from them :P well alot but still they always wanna stand out is what I'm trying to say
This time it is bad press though... I also fear that western governments could do the same... so we would have 200 Intranets...
well you can't predict China as there are election's coming many big up's and down's are about to happen.
If you ask me... I think that if elections would change anything they would have been forbidden a long time ago...
looks like it will lead to a huge impact on Bitcoin.
The good thing is it is in February 2018... so still a lot can happen until then in this market... the cryptos could get a lot stronger until then...
False alarm. The deadline for the ban (first it was February, then rumoured to be March) came and went. And guess what? VPNs still work in China -- well at least the one that were working before. Plain OpenVPN connections have been blocked for awhile. These VPNs are the best ones for China and they are unaffected, even after the "ban".
Still a long way out and China is rather unpredictable.. but still good to monitor the situation as it can have a pretty significant impact. Any information sources you recommend for news around this @mexbit?