Beijing court rules Bitcoin mining contract 'void'

#1

Post by my50cents » Sun, Dec 26, 2021, 2:29 AM UTC

Beijing court rules Bitcoin mining contract 'void'
techcrunch.com

Re: Beijing court rules Bitcoin mining contract 'void'

#2

Post by labrador » Sun, Dec 26, 2021, 3:05 AM UTC

> China has declared all cryptocurrency transactions illegal

Fake news because Bitcoin is outside government control /s

Re: Beijing court rules Bitcoin mining contract 'void'

#3

Post by verdverm » Sun, Dec 26, 2021, 3:12 AM UTC

labrador wrote: post #2

> China has declared all cryptocurrency transactions illegal Fake news because Bitcoin is outside government control /s

Seems it is not outside. People forfeit their holdings to the govt, miners have left China. People will not participate if it means they risk fines or jail.

Bitcoin (et al) can only exist due to the stability governments provide to society. Society in return expects any new tech to play within the rulesets therein.

Re: Beijing court rules Bitcoin mining contract 'void'

#4

Post by space_rock » Sun, Dec 26, 2021, 3:27 AM UTC

labrador wrote: post #2

> China has declared all cryptocurrency transactions illegal Fake news because Bitcoin is outside government control /s

Mining experts estimates 15 to 20% of Bitcoin mining is still from Chinese black market

https://www.cnbc.com/2021/12/18/chinas-underground-bitcoin-m...

Re: Beijing court rules Bitcoin mining contract 'void'

#5

Post by [deleted] » Sun, Dec 26, 2021, 3:29 AM UTC

labrador wrote: post #2

> China has declared all cryptocurrency transactions illegal Fake news because Bitcoin is outside government control /s

[deleted]