The China uncertainty just got real

I just woke up to this message from Eobot. And as I expected, moving out of China is very real for these mining companies. What I didn't realise was that Eobot had their miners there. I thought they were in the US. So keep it in mind.

As you may have heard in the news over the last few weeks, China has implemented bans on ICOs (initial coin offerings) and now Bitcoin and other cryptocurrency trading. It is unclear if they are going to ban Bitcoin mining.

Eobot currently runs the majority of our Bitcoin mining in China. Depending on if, and how, they ban Bitcoin Mining (for example, they may let us ship the hardware out of the country to continue mining), Eobot may be forced to terminate Cloud Mining/GHS contracts early.

We hope this doesn't happen, but we are announcing this to our users to be fully transparent and allow the option to trade and sell their GHS early and before a China ban becomes a reality.

Until next time...happy mining,
-The Eobot Team

I have already emptied my hashpower into Bitshares since it is dead cheap at the moment. And as you might know, Bitshares don't rely on mining. So the network is safe even though the miners are forced to move. There are a few coins that could potentially act as a "safe haven" (noone is really safe, there will be large disruptions) Bitshares, Ark, Lisk, NEM, steem don't require the service from the miners to secure the network.

If you are running Eobot and want to withdraw your hashpower, you can do it by selecting "Exchange" scroll down to the SHA 5-year contract and buy SHA 24 hour contract. The bot will then spend all the hash power within 24 hours instead of 5 years.

It might be a bit too early to do this. But keep your eyes and ears open. And remember that dpos coins don't require mining.

Just a kind reminder before I get my morning coffee.