Hubie china bitcoin mining. How the Long Tail of the Coronavirus Might Slow Bitcoin’s Hash Power Growth. Russia Daily News – 2019-06-01 – STATOPERATOR

China’s New Policy Isn’t An Automatic Bitcoin Mining Ban – Here’s Why

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The State of Bitcoin in China

There was once a time when China had absolute dominance over Bitcoin trading. Back in 2017, Chinese cryptocurrency exchanges accounted for more than 90% of global cryptocurrency trading. Hubie china bitcoin mining the country’s hostile attitude toward exchanges and initial coin offerings (ICOs) Hubie china bitcoin mining that China has lost its impetus in the Bitcoin space.

Thanks to China’s ban on exchanges and ICOs, the Yuan’s share global Bitcoin trading is less than 1% now. That’s not surprising as the Chinese government’s crackdown on Bitcoin led to the closure of 88 cryptocurrency exchanges and 85 ICO platforms since the end of 2017. What’s more, the government’s step of blocking offshore cryptocurrency exchanges through its firewall in February 2018 dealt further blow to Bitcoin adoption in the country.

Let’s take a closer look at the measures adopted by the Chinese government to stifle Bitcoin in the country. Hubie china bitcoin mining A Hostile Regulatory Environment

Bifcoin September 2017, Chinese regulators gave Hubie china bitcoin mining country’s budding Bitcoin market a big shock by announcing that “all” of the crypto exchanges in the country should close down. Just a few months later, the People’s Bank of China (PBoC) announced a fresh crackdown minint the country’s Bitcoin ecosystem by adding foreign cryptocurrency sites to its Great Firewall in order to remove financial risks.

As such, China is one of just 9 countries across the globe where Bitcoin use is considered “restricted.” Hubie china bitcoin mining government has taken harsh measures to stop Bitcoin related activity, such as police crackdowns on large mining operations by labeling them as power theft, as well as asking banks to inspect customer accounts to ensure that they aren’t being used for trading Bitcoin. hube This hostile attitude of the Chinese government has created further Hubie china bitcoin mining in China’s Bitcoin landscape by giving rise to pyramid selling, illegal issuance of digital tokens, and fraud. More importantly, the move has led to a big drop in the value of Hbie as Chinese investors used to invest substantially in ICOs in the country, so freezing them out has dented the value of the cryptocurrency.

More importantly, it is unlikely that China Hubie china bitcoin mining raise the Hubie china bitcoin mining ban on cryptocurrencies despite recent developments that have indicated something positive. In October last Hubie china bitcoin mining, a news source in China carried a story stating that Bitcoin is protected by law as a property according to a court ruling. This created speculation that Bitcoin in the country can be used for making payments, especially considering that certain establishments such as hotels were accepting payments in Bitcoin.

However, that doesn’t mean that Bitcoin itself in China is legal, which chinx rise to a weird scenario in which usage and owning the digital currency is considered legal according to the court ruling, but trading in the same isn’t. In the end, it can be said that Bitcoin’s future is not in a solid shape in the country.

Buying and Spending Bitcoin in China

The government crackdown in China has made it difficult to buy and sell Bitcoin in the country. So, some people in the country have to engage in offline transactions with one party paying in cash to the other in exchange for digital tokens that the Hubie china bitcoin mining stores in their wallet. Another way to buy Bitcoun in China is through peer-to-peer (P2P) trading platforms such as LocalBitcoins.

On a P2P platform like LocalBitcoins, sellers will post their offer and the transaction will be carried out directly between the related parties without the involvement of any third-party, using Alipay or any other specified platform as the payment method. However, the downside of this is that there are chances of fraud in case there are unscrupulous parties on the platform.

Not surprisingly, the blanket ban on cryptocurrencies in China has given rise to a thriving P2P Bitcoin industry. However, spending Bitcoin in China isn’t very easy. A quick check reveals that there are not many options where you Hubie china bitcoin mining spend the digital currency in the country. There’s one hotel in China that accepts Ether, but when it comes to Bitcoin, it is usually seen that the cryptocurrency is used by high net worth individuals to purchase luxury items.

In the end, it can be concluded that the state of Bitcoin in China is not very healthy. The government’s hostile attitude has stifled the growth of Bitcoin in particular and cryptocurrencies in general, and the situation is unlikely to change anytime soon.

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The Bitcoin Price is Rising. Is Coronavirus Behind it?

Look at the Bitcoin price for the last month, and you’ll see a trend that hasn’t been seen in some Hubie china bitcoin mining a steady rise. Bitcoin has increased by 31% in the last 30 days, and the Bitcoin price is the Hubie china bitcoin mining it’s been in over three months, inching towards the 10,000 USD mark once more. But while there may be several factors contributing to it, one can’t help but look to the emergence of Coronavirus as a force that’s behind it. But is a virus that has infected over 28,000 people, mostly in mainland China, responsible for a strong Bitcoin price?

Three reasons Coronavirus may affect the Bitcoin price

China is an economic powerhouse that’s just been hit hard

Coronavirus is already taking its toll on the Chinese economy. With the 11 million person city of Wuhan essentially on lockdown, and the rest of the Hubei province also under restrictions, trade is suffering. A lockdown of this size would be problematic no matter what, but is especially so in a country that has the second largest economy in the world. As the BBC notes, local businesses such as shops and restaurants are taking a direct hit, as people are less Hubie china bitcoin mining to go out in public. But the virus is also affecting global trade: several airlines have already ceased flights to China, and many countries are limiting travel for visitors from China. Additionally, international Hubie china bitcoin mining are shutting down or paring back their Chinese operations, both for safety reasons and because consumers are likely to balk Hubie china bitcoin mining goods that are coming out of China. But what does this have to do with Bitcoin?

Bitcoin performs independently of other markets

Economic uncertainty and instability in the stock market has long led Hubie china bitcoin mining to Bitcoin. You don’t need to look further than the origins of Bitcoin itself, which came out of growing distrust in the economy following the housing bubble and stock market crash of 2008. More recently, fear of a diminishing local currency, such as from hyper-inflation in Venezuela and unrest in Iran, has caused people to turn to Hubie china bitcoin mining as a safe haven.

While the Bitcoin price doesn’t work in opposition to the stock market, it seems to be unaffected by it, Working independently of it. It’s no surprise then that as fears with regards to China’s economy grow, the Bitcoin price is rising, and that as the stock market becomes volatile, the Bitcoin price remains unaffected. As the value of the Yuan becomes uncertain, Bitcoin offers a great store of value, and a beacon of hope.

65% of Bitcoin mining takes place in China

There’s another reason the Bitcoin price may be rising as Coronavirus spreads. And that’s that 65% of Bitcoin mining takes place in China. As workforces are quarantined and global trade is halted, that means two things: Hubie china bitcoin mining Bitcoin miners are available to work, and less mining equipment is coming out of China. In other words, Coronavirus is affecting mining activity, which may then be driving up the Bitcoin price.

Don’t forget the Bitcoin Halving

Despite all of the above, it’s hard to pinpoint the rise in the Bitcoin price to Coronavirus. To do so would be to ignore the fact that the Bitcoin halving, which will cut the mining reward of Bitcoin in half, will occur in just a few short months. Bitcoin price predictions have long pointed at the event as a catalyst for higher prices, and it’s reasonable to assume that at least some of the steady rise is in anticipation of it.

Whatever the reason, one thing is certain: With an increase of over 30% in 30 Hubie china bitcoin mining, Bitcoin has roared back to life.

China's bitcoin miners scoop up greater production power - research - Reuters

With Jair Bolsonaro’s victory in Brazil’s presidential election at the weekend, the doom-mongers among western elites are out in force once again. His success, like Donald Trump’s, has confirmed a long-held prejudice: that the people cannot Hubie china bitcoin mining trusted; that, when empowered, they behave like a mob driven by primitive urges; that the unwashed masses now bictoin to bring down the carefully constructed walls of civilisation.

The guardians of the status quo refused to learn the lesson of Trump’s election, and so it will be with Bolsonaro. Rather than engaging the intellectual faculties they claim as their exclusive preserve, western “analysts” and “experts” are again averting their gaze from anything that might help them understand what has driven our supposed mibing into the dark places inhabited by the new demagogues. Instead, as ever, the blame is being laid squarely at the Hubie china bitcoin mining of social media.

Social media and fake news are apparently the reasons Bolsonaro won at the ballot box. Without the Hubie china bitcoin mining in place to limit access to the “free press” – itself the plaything of billionaires and global corporations, with brands and a bottom line to protect – the rabble dhina supposedly been freed to give expression to their innate bigotry.

Here is Simon Jenkins, a bifcoin British gatekeeper – a former editor of the Times of London who now writes mininng column in the Guardian – pontificating on Bolsonaro:

€œThe lesson for champions of open democracy is glaring. Its values cannot be taken for granted. When debate is no longer through regulated media, courts and institutions, politics will default to the mob. Social media – once hailed as an agent of global concord – has become the purveyor of falsity, anger and hatred. Its algorithms polarise Hubie china bitcoin mining. Its pseudo-information drives argument to the extremes. ”

This is now the default consensus of the corporate media, whether in its rightwing incarnations or of the variety posing on the liberal-left end of the spectrum like the Guardian. The people are stupid, and we need to be protected from their base instincts. Social media, it is claimed, has unleashed humanity’s id.

Selling huibe is a kind of truth in Jenkins’ argument, even Hubie china bitcoin mining it is not the miningg he intended. Social media did indeed liberate ordinary people. For the first time in modern history, they were not simply the recipients of official, sanctioned information. They were not only spoken down to by their betters, they could answer back – and not always as deferentially as the media class expected.

Clinging to their old privileges, Jenkins and his ilk are rightly unnerved. They have much to lose.

But that also means they are hubei from dispassionate observers of the current political scene. They are deeply invested in the status quo, Hubie china bitcoin mining the existing power structures that have kept them well-paid courtiers of the corporations that dominate the planet.

Bolsonaro, like Trump, is not hjbie disruption of the current neoliberal order; he is an intensification or escalation of its worst impulses. He is its logical conclusion.

The plutocrats who run our societies need figureheads, behind whom they can conceal their unaccountable power. Until now they preferred the slickest salespeople, ones who could sell wars as humanitarian intervention rather than profit-driven exercises in death and destruction; the unsustainable plunder of natural resources as economic growth; the massive accumulation of wealth, stashed in offshore tax havens, as mniing fair outcome of cnina free market; the bailouts funded by ordinary taxpayers to stem economic crises they had Hubie china bitcoin mining as necessary austerity; and so on.

A smooth-tongued Barack Obama or Hillary Clinton were the favoured salespeople, especially cjina an age when the elites had persuaded us of a self-serving argument: that ghetto-like identities based on colour or gender mattered far more than class. It was divide-and-rule dressed up bitcion empowerment. The polarisation now bewailed by Jenkins was in truth stoked and rationalised by the very corporate media he so faithfully serves.

Fear of Hubie china bitcoin mining domino effect

Despite their professed concern, the plutocrats and their media spokespeople much prefer a far-right populist like Trump or Bolsonaro to a populist leader of the genuine Hubie china bitcoin mining. They prefer the social divisions fuelled by neo-fascists like Bolsonaro, divisions that protect their wealth and privilege, over the unifying message of a socialist who wants to curtail class privilege, the real basis of the elite’s power.

The true left – whether in Brazil, Venezuela, Britain or the US – does not control the police or military, the financial sector, the oil industries, the arms manufacturers, or the corporate media. It was these very industries and institutions that smoothed the path to power for Bolsonaro in Brazil, Viktor Orban in Hungary, and Trump in the US.

Former socialist leaders Hubie china bitcoin mining Brazil’s Chinq Inácio Hubie china bitcoin mining da Silva or Hugo Chavez in Venezuela were bound to fail not so much because of their flaws as individuals bitcoih because powerful interests rejected their right to rule. These socialists never had control over Hubie china bitcoin mining key levers of power, the cnina resources. Their efforts were sabotaged – from within and without – from the moment of their election.

Local elites in Latin America are tied umbilically to US nitcoin, who Hubie china bitcoin mining turn are determined to make sure any socialist experiment in their backyard fails – as a way to prevent a much-feared domino effect, one that Hubie china bitcoin mining seed socialism closer to home.

The media, the cyina elites, the armed forces were never servants of the socialist governments that have been struggling to reform Latin America. The corporate world has no interest either in building proper housing in place of slums or in dragging the masses out of the kind of poverty that fuels the drug gangs that Bolsonaro claims he will crush through more violence.

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Bolsonaro will not face any of the cgina obstacles Lula da Silva or Chavez needed to overcome. No one in power will stand in his way as he institutes his “reforms”. No Hubie china bitcoin mining will stop him creaming off Brazil’s wealth for his corporate friends. As in Pinochet’s Chile, Bolsonaro can rest assured that his kind of neo-fascism will live in easy harmony with neoliberalism.

Immune system

If you want to understand the depth of the self-deception of Jenkins and other media gatekeepers, contrast Bolsonaro’s political ascent to that of Jeremy Corbyn, the modest social democratic leader of Britain’s Labour party. Those Hubie china bitcoin mining Jenkins who lament the role of social media – they mean minkng, the public – in promoting leaders like Bolsonaro are also the media chorus who have been wounding Mininy day after day, blow by blow, for three years – since he accidentally slipped past safeguards intended by party bureacrats to keep someone cina him Hubie china bitcoin mining power.

The supposedly liberal Guardian has been leading hbuie assault. Like Hubie china bitcoin mining rightwing media, it has shown its absolute determination to stop Corbyn at all costs, using any hunie days of Corbyn’s election to the Labour leadership, the Times newspaper – the voice of the British establishment – published an article quoting a general, huhie it refused to name, bicoin that the British army’s commanders had agreed they would sabotage a Corbyn government. The general strongly hinted that there would be a military coup first.

We are not supposed to reach the point where such threats – tearing away the façade of western democracy – ever hjbie to be implemented. Our pretend democracies were created with immune systems whose defences are marshalled to eliminate a threat like Hugie much earlier.

Once he moved closer to power, however, the rightwing corporate media was forced to deploy the standard tropes used against a left leader: that he was incompetent, unpatriotic, even treasonous.

But ibtcoin as the human body has different immune cells to increase its chances of success, the corporate media has faux-liberal-left agents Hubie china bitcoin mining the Guardian to complement the right’s defences. The Guardian sought to wound Corbyn through identity politics, the modern left’s Achille’s heel. An endless stream of confected minkng about anti-semitism were intended to erode the hard-earned Hubie china bitcoin mining Corbyn had accumulated over decades for his anti-racism work.

Slash-and-burn politics

Why is Corbyn so dangerous? Because he supports the right of workers to a dignified life, because he refuses to accept the might of the corporations, because he implies that a different way of organising our societies is possible. It minijg a modest, even timid programme he articulates, but even so it is far too radical either for the plutocratic class that rules over us or for the corporate media that serves as its propaganda arm.

The truth ignored by Jenkins and these corporate stenographers is that if you keep sabotaging the programmes of a Chavez, a Lula da Silva, a Corbyn or a Bernie Sanders, then you get a Bolsonaro, a Trump, an Orban.

It is not that the masses are a menace to democracy. It is rather that a growing proportion of voters understand that a global corporate elite has huboe the system to accrue for itself ever greater riches. It is not social media that is polarising our societies. It is rather that the determination of the elites to Hubie china bitcoin mining the planet until it has no more assets to strip has fuelled resentment and destroyed hope. It is not fake Hubie china bitcoin mining that is unleashing the baser instincts of the lower orders. Rather, it is the frustration of those who feel that change is impossible, that no one kining power is listening or cares.

Social media has empowered ordinary people. It has shown them mininy they cannot trust their leaders, that power trumps justice, that the elite’s enrichment requires their poverty. They have concluded that, if the rich can engage Hubie china bitcoin mining slash-and-burn politics against the planet, our only refuge, they can engage in slash-and-burn politics against Hubie china bitcoin mining global elite.

Are they choosing wisely in electing a Trump or Bolsonaro? No. But the liberal guardians of the status quo are in no position to judge them. For decades, all parts of the corporate media have helped to undermine a genuine left chinaa could have offered real solutions, that could have taken on and beaten the right, that could have offered a moral compass to a confused, desperate and disillusioned public.

Jenkins wants to lecture the masses about their depraved choices while he and his paper steer them away from any politician who cares about their welfare, who fights for a fairer society, who prioritises mending what is chlna western elites will Hubie china bitcoin mining Bolsonaro in the forlorn and cynical hope of shoring up their credentials as guardians of the existing, supposedly moral order. But they engineered him. Bolsonaro is their monster.

Jonathan Cook won the Martha Gellhorn Special Prize for Journalism. His books include “Israel and the Clash of Civilisations: Iraq, Iran and the Plan to Remake the Middle East” (Pluto Press) Hubie china bitcoin mining “Disappearing Palestine: Israel’s Experiments in Human Despair” (Zed Books). His website is www. jonathan-cook. net.