On September 24, the People's Bank of China issued a notice to further prevent and deal with the risks of virtual currency transaction speculation, and stated that it strictly prohibits illegal financial activities related to virtual currency. This means that "mining" in China is becoming increasingly impossible.
The Notice pointed out that virtual currencies have no legal standing in the country and cannot be used as currency in the market. In addition, the state strictly prohibits and cracks down on financial activities such as the exchange business of legal currency and virtual currency, the exchange business between virtual currencies, the buying and selling of virtual currencies, the provision of information intermediary and pricing services for virtual currency transactions, and illegal fund-raising.
The matter of "mining" is an illegal activity in China, and it must be held accountable in accordance with the law. However, although "mining" activities are not as active and obvious in China as abroad, many technology companies still smell the business opportunities, and produce and sell various "mining" mining machines and other equipment. With physical stores in some areas, it can be said that the mining wave has brought considerable economic benefits to these technology companies.
When it comes to mining boom, the graphics card is definitely the biggest influence on netizens. As the main hardware part of "mining", the graphics card is naturally the favorite of many "miners". Due to the mining boom and the global shortage of cores, the price of graphics cards can be said to advance all the way. Not only has the price not dropped, what's even worse, it's hard to get a single card even at such rocketed prices.
During the mining frenzy, many bizarre incidents have also occurred. For example, during the epidemic, Internet cafe owners used computers in their stores to conduct “mining” activities to obtain profits. In addition, “mining” also consumes a lot of power resources. Some netizens said that in serious cases, factories may transfer power resources for their own use through power curtailment, resulting in the inability to use electrical appliances in the surrounding areas.
Many netizens expressed their support for the severe crackdown on "mining" behavior. As a speculative financial activity, "mining" consumes a lot of social resources, and the value of virtual currency itself fluctuates greatly. The high returns are temporary, but they will never last forever. Once the mining disaster strikes, those who are addicted Among them, the "miners" are likely to become victims of this "gold rush".
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