Bitcoin mining is still huge in China despite new ban in Inner Mongolia

[JimmyLauChan]

Strange how the article goes into China actually acknowledges these miners in their state media. I would have thought that the government would try to limit or stamp out bitcoin mining because it can make people pretty rich if they make a big enough investment and are patient enough. I wonder if they are going to lift the limits on production and keep them on bitcoin mining. Just to see if that improves the situation and to see how well can they enforce it.

They didn't actually acknowledge the miners in the state media, the central bank and the government did not say they agreed or disagreed the their existence. But I believe the BTC will be nothing if the Chinese or US government recognizes BTC as a threat to the stability of the financial system, and I don't think there has a government would admit a form of acceptable currency which is decentralized and not under control by the government.