News & Tips

China Bitcoin Ban Will Not Extend to Mining

MGT Chief and cybersecurity visionary John McAfee controversial reports that China’s bitcoin ban can reach mining.

McAfee: China Bitcoin Ban won’t reach Mining

McAfee created that claim on Twitter once posting an image of himself feeding with Bitmain co-founder Jihan Wu and bitcoin money human Roger Ver. He explicit that Wu was explaining China’s position on cryptocurrency.

View image on Twitter
View image on Twitter
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John McAfee ✔ @officialmcafee
Jihan Wu enlightening Roger Ver and Myself concerning China’s cryptocurrency intent at my birthday celebration in urban center.
1:38 PM – Gregorian calendar month eighteen, 2017
one87 187 Replies 253 253 Retweets 1,124 1,124 likes
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One Twitter user asked the question that’s at the forefront of the many discussions at intervals the cryptocurrency community today: can China ban bitcoin mining? McAfee replied that “They don’t seem to be,” whereas telling another user that Wu “is additional connected than Pine Tree State or [you]” and is therefore value taking note of on matters associated with Chinese cryptocurrency regulation.

18 Sep
James Marshall @Jamesmarshall02
Replying to @officialmcafee
Did he tell you if China square measure getting to close up mining?
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John McAfee ✔ @officialmcafee
They are not.
3:09 PM – Gregorian calendar month eighteen, 2017
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This claim, if correct, contradicts rumors and reports that China’s crushing on bitcoin won’t be restricted to order-book exchanges. First, a document began current that claimed the Chinese government is getting to block residents from accessing websites for foreign bitcoin exchanges like Bitfinex, Bitstamp, and Bithumb, beside peer-to-peer commerceplatforms like LocalBitcoins. The document was unproved however it had been passed on by a minimum of one Bitcoin Core developer, and Blockstream CSO Samson Mow indicated there was a high likelihood it had been true.

Second, the Wall Street Journal explicit that a private meeting had taken place on Friday between Chinese regulators and trade executives. within the meeting, the regulators reportedly communicated that over-the-counter (OTC) bitcoin commerce wouldn’t be allowed to continue. The Journal conjointly spoke with AN unidentified mining tradebusiness executive WHO expressed issues that China was getting to issue conclusion orders to Chinese mining firms and pools, that account for concerning sixty fifth of the full network hashrate.

McAfee Talks Bitcoin money

In addition to the China bitcoin ban, McAfee unconcealed that he, Ver, and Wu mentioned bitcoin money. McAfee unconcealed that he’s holding bitcoin money. “Do not ignore it,” he warned one user crucial of the fork. However, onceasked whether or not he supported Bitcoin Core, SegWit2x, or bitcoin money, he explicit “Right currently I support everyone….Except the homeless WHO Ate someone’s face.”


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