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Mining Ban Is Not Working In China
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[QUOTE="Yugocean, post: 249723, member: 25081"] [B]THE BAN[/B] In July 2021, the Chinese government outlawed Mining and other forms of cryptocurrency. The government's only justification for the ban was cryptocurrency's volatility and instability; however, many individuals believe the underlying reason is the economic freedom that decentralized currency like Bitcoin can give. [B]ANOTHER OPTION OF THE GOVERNMENT[/B] China has introduced a digital version of the Yuan (e-CNY). The government is promoting e-CNY to encourage crypto enthusiasts to accept it as a viable alternative to decentralised cryptos such as Bitcoin. [B]ALTERNATIVES OF THE PEOPLE[/B] Instead of fleeing the cryptosphere owing to the ban, Chinese citizens devised alternate methods. Chinese miners have moved underground and are frequently using VPN to hide their true location. [B]THE PEOPLE ARE THE WINNERS[/B] Because several VPN sites are able to pass through Chinese territory and provide services for a nominal fee, which is also accepted in bitcoin and altcoins, the Chinese government is helpless to intervene. Now it depends how authorities are going to implement the law which people are not accepting. [/QUOTE]
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Mining Ban Is Not Working In China
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