(2)
(0)
Writer : Rasheem James Northington
In the month of June 2021 reading the newspaper and sipping your morning tea you must have come across the bold headline about China’s crackdown on Mining Hubs. Now, what does that mean, why is it happening and what will be the consequences of such a step?
Don’t you worry! All of this will be addressed in today’s program.
Hello and Welcome, You have tuned in to DueclixVoice. FM and I am your host Monazza Aarfa and today we’ll discuss about China’s crypto crackdown and its impact on the cryptocurrency market.
We have invited Rasheem James Northington as the host for today's program, and he will enlighten us on the subject and will share his opinion with us on behalf of the InfoTaxSquare.com which register companies across the United States regardless of your residency status in the United States and additionally, InfoTaxSquare.com is an active investor of different cryptocurrencies.
While the price of bitcoin was stabilized as a result of El Salvador's historic adoption measure, China, one of the world's largest Bitcoin mining countries, has intensified its cryptocurrency crackdown.
You all must be aware that mining is the process of creating new coins as well as keeping track of all transactions involving existing digital tokens. The Rising superpower China has always been known for its mining business because of its established technology supply chains and extremely cheap electricity. China accounted for 65% to 75% of the world's bitcoin mining, with the majority of it takes place in four Chinese provinces: Xinjiang, Inner Mongolia, Sichuan and Yunnan.
However, The country known for its mining production has intensified its crackdown on mining. Now, to discuss the reason behind this step and the implications it may cause we have invited Rasheem James Northington.
Hello, Mr. Rasheem How are you? Before we start today's program why don’t you tell us something about the organization that you are a part of ?
Yes, I am good! And I am glad to be a part of today’s program. InfoTaxSquare is a well established U.S based company which helps the clients with business registration and license permits. We strive to provide the best services to our customers. And, we also invest in different cryptocurrencies and in near future we may accept cryptocurrencies from our clients to use our services and that is why we always keep eyes on crypto currency world to create our company's policy accordingly. And, from the year, we will record cryptocurrency profile in our balance sheet as well.
Frequently Asked Questions
|
|
|
|
|
|
Listeners, One of the most important components of cryptocurrency mining is the power supply. It has an effect on demand and supply, as well as the inflation or deflation of cryptocurrencies. It is the supply of power that contributes to the transformation of the entire global financial system.
If a country wants to move up the ladder and switch from conventional to digital currency, they must first scale its current means of determining whether it has enough power supply to change its financial system from conventional to digital.
Also, one should never be afraid of market collapses as it is a part and parcel of life. You should strive to become an intelligent investor by avoiding death crosses and not becoming the market’s ‘Next fool’ by panicking when the crisis arrives at your doorstep.
