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Quantum computers and the Bitcoin blockchain has been saved. Quantum computers and the Bitcoin blockchain has been removed. One of the most well-known applications of quantum computers is breaking the mathematical difficulty underlying most of currently used cryptography. Since Google announced that it achieved quantum supremacy there has been an increasing number of articles on the web predicting the demise of currently used cryptography in general, and Bitcoin in particular. The goal of this article is to present a balanced view regarding the risks that quantum computers pose to Bitcoin.

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Content:

• China’s moves against cryptocurrencies could affect blockchain growth
• China Cracks Down Harder on Cryptocurrency With New Ban
• Despite Chinese Ban, 145 Bitcoin Nodes Are Still Running There
• Chia (cryptocurrency)
• Bitcoin mining has totally recovered from Chinese ban
• Quantum computers and the Bitcoin blockchain

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China’s moves against cryptocurrencies could affect blockchain growth

Still, Pongsakorn, 30, has been able to sell hundreds of units across Thailand as small players jump into cryptocurrencies as China cracks down on the lucrative market. The biggest packed up and shifted operations to the United States — particularly Texas — Malaysia, Russia and Kazakhstan among other countries.

That created an opportunity for entrepreneurs like Pongsakorn, who was on hand to whisk the unwanted gear — mainly the Bitmain Antminer SJ19 Pro — from Shenzhen to Thailand. Their ranks include people chasing a stable income during the pandemic, but also investors who believe in the future of digital assets. Many bigger Thai investors are closely watching neighbouring Laos, which is tacitly embracing the rise of cryptocurrencies. The poor, officially communist country of 7.

In November, the communist government opened up crypto mining and trading by offering licences to six large, well-connected Laotian companies. But any Chinese miners thinking of slipping over their southern border to plug into cheap Laotian electricity would still be within easy reach of close ally Beijing. Some observers fear the gains of crypto will go to just a handful of connected companies. By Vijitra Duangdee.

Published On 29 Dec 29 Dec But its advantage is an abundance of cheap electricity generated by dozens of mega-dams.

China Cracks Down Harder on Cryptocurrency With New Ban

Cryptocurrencies that seemed to be defying gravity just weeks ago came back down to earth with a bump on Wednesday after a roller-coaster ride which could undermine their potential as mainstream investments. The two main digital currencies, bitcoin and ether, pared back their losses in early afternoon trading after two of their biggest backers — Tesla Inc. While many analysts thought the explosion in crypto interest this year was not sustainable, the trigger for the shake-out was China's move on Tuesday to ban financial and payment institutions from providing cryptocurrency services. The country also warned investors against speculative crypto trading.

Despite Chinese Ban, 145 Bitcoin Nodes Are Still Running There

China's latest regulations on cryptocurrencies aim to eliminate competition with Beijing's new digital currency, the digital yuan, an expert told Anadolu Agency on Friday. China's central bank, the People's Bank of China, announced last week that it will tighten regulations on cryptocurrency activities, including trading and mining, as the government intensifies its crackdown on digital coins. Its regulations on the crypto market include prohibiting trading, token issuance and crypto derivatives, considering overseas crypto exchanges, which offer services to domestic residents in China, an illegal activity, and banning financial institutions, non-bank payment companies and internet firms from facilitating crypto trading. Lesperance argued that China wants to have complete control over its population, and the digital yuan, combined with currency control in China, will give Beijing total vision over the population and all their financial transactions. After Beijing tightening regulations, cryptocurrency holders in China have some options — they can either get their crypto assets outside of the country or wait for the government to offer a swap for their crypto assets in exchange for digital yuan. He argued that a group of crypto investors in China will act to get their crypto assets and themselves an escape plan to avoid the complete control of the government, while another group will be under the scrutiny of the government unless they act. Another hot topic in the crypto market lately is whether central banks around the world will issue their own digital currencies like the People's Bank of China.

Chia (cryptocurrency)

Select your location Close country language switcher. With over 28 years of experience in providing assurance and advisory services, she is also EY Private leader for Asia-Pacific. I believe that the Belt and Road Initiative will also bring wider social benefits that align with the EY commitment to building a better working world. EY is a global leader in assurance, consulting, strategy and transactions, and tax services.

Bitcoin mining has totally recovered from Chinese ban

The e-CNY, or digital yuan, is a centralized, cash-like digital currency that is expected to be primarily used for retail payments in China. The first, longer-term goal, is to create a digital currency that can compete with other digital currencies such as bitcoins, stablecoins, and other central banks digital currencies CBDC , while ensuring that the renminbi continues to be the dominant currency in China. The second, more immediate goal is to reshape China's current payment system by providing a cash-like digital payment method: accessible to all, low cost, anonymous to a certain extent , and which facilitates competition among payment service providers. It allows greater anonymity and includes better personal information protection, yet still keeps sufficient records for tracing illegal activities such as money laundering and tax evasion. An important consideration behind the e-CNY's M0 definition is that it is likely to prevent disintermediation of banks.

Quantum computers and the Bitcoin blockchain

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights , which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG. Eliza Gkritsi.

Expert insights, analysis and smart data help you cut through the noise to spot trends, risks and opportunities. Sign in. Accessibility help Skip to navigation Skip to content Skip to footer. Become an FT subscriber to read: Beijing vs bitcoin: why China is cracking down on crypto Leverage our market expertise Expert insights, analysis and smart data help you cut through the noise to spot trends, risks and opportunities.

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The most common response from crypto platforms has been to announce a permanent suspension of new registrations from China. Two weeks after China outlawed virtually all crypto-related activity, the industry is springing into action, announcing varying levels of restrictions for Chinese users. Some have even shut down completely. From crypto exchanges to crypto wallet apps to crypto market data publications to decentralized mining services, at least 30 Chinese companies have released statements or changed their policies in the last two weeks. The flurry has come after Beijing released two pieces of major regulation, one focused on crypto-related finance activities, the other on mining. Even though users in China can theoretically still use VPNs and fake identities to get around these restrictions, the latest moves from crypto companies will make their investment experience even more difficult and likely deter some from keeping at the crypto game.

Chandler Guo was a pioneer in cryptocurrency, the digital currencies that can be created and used independently of national central banks and governments. In he set up an operation to produce one of those currencies, Bitcoin, in a secret location in western China. He believed Bitcoin would one day change the world and replace the dollar.