China’s private cryptocurrency sector effectively quashed after Sichuan mining ban, bank trading blocks – SupChina
supchina.com
China’s crackdown on cryptocurrency mining has now shut down more than 90% of the country’s bitcoin production capacity, after a ban on mining in hydropower-rich Sichuan was put in place over the weekend. Additionally, the central bank moved to close remaining loopholes that allowed “cryptocurrency speculation.”

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  • Ploumeister [he/him]
    ·
    3 years ago

    IMO the price for graphics cards have already gone down considerably since many cryptocurrency companies have either shut down or shuddered due to this law

    It is confirmed China stands by gamers

    • culpritus [any]
      ·
      3 years ago

      DIY PC builds are somewhat attainable because of Deng's legacy. Hopefully Xi can carry on until DIY VR gaming gets below $200 and is completely libre software.

  • ToastGhost [he/him]
    ·
    3 years ago

    "crypto is the perfect currency immune to government censorship" :cryptocurrency: :xi-gun:

    • Baoist [none/use name]
      ·
      3 years ago

      Crypto is basically what ever you want it to be when you talk with the nut jobs.

      One thing is clear it does create wealth out of thin air

  • CoralMarks [he/him]
    ·
    3 years ago

    Makes a lot of sense, IMO the only way forward for Bitcoin regulation. The ecological impact and the immense energy consumed, which could obviously be used for much more useful needs, just way outweighs its usefulness (which is also questionable).

    I'm also interested to see how the digital Yuan pans out.

    • carbohydra [des/pair]
      ·
      3 years ago

      It seems the big corps were prepared, so the damage will still be smallish, but at least they wont keep siphoning power at increasing rates

  • redthebaron [he/him]
    ·
    3 years ago

    xi doing maybe the most for gamers allowing them to buy a video card and they keep hating on the man, no class