Monday, September 25, 2017

Effects of China banning bitcoin

The number one effect of  ICO's being ban on China was the lowering down of the value of  bitcoin . Remember that the value of bitcoin a few weeks ago is going up until it was reaching the $5000 / per bitcoin. But it had not reached the $5000 mark and it lowers down now which is about $4000/ bitcoin. 

Because of this development wrote to each member that bitcoin mining will probably be affected since a lot of miners are from China. 

Image result for banning of bitcoin in china

Here's  the message ;                 

Hello miner Rodolfo.

As you may have heard in the news over the last few weeks, China has implemented bans on ICOs (initial coin offerings) and now Bitcoin and other cryptocurrency trading. It is unclear if they are going to ban Bitcoin mining.

Eobot currently runs the majority of our Bitcoin mining in China. Depending on if, and how, they ban Bitcoin Mining (for example, they may let us ship the hardware out of the country to continue mining), Eobot may be forced to terminate Cloud Mining/GHS contracts early.

We hope this doesn't happen, but we are announcing this to our usbelieers to be fully transparent and allow the option to trade and sell their GHS early and before a China ban becomes a reality.

Until next time...happy mining,
-The Eobot Team
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I do believe that if the banning will continue it will affect the mining of bitcoin as well as the value. 

Since i am involve in cloud mining , i will probably sell my GHS which was supposed to be a contract up to 5 years. 

While waiting for the GHS to be sold ,  it would probably good to mined all the bitcoins in

visit my site for other sources of bitcoin and altcoins ;