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Cyber Bitcoin
Edited by qqqpeter at 2019-12-30 21:07

Blocktempo.com reported that the "Ganzi Tibetan Autonomous Prefecture Quanzhou Bitcoin Mine Cleanup Symposium" originally launched on December 25 was postponed to the 27th, which was triggered by the "Winter Power Restriction Policy" of the Ganzi Government in Sichuan. During the period, no negative events such as the "panication of the Sichuan mining industry" that the outside world had panicked occurred. Although the government did not revoke its crackdown on some "tax evasion behaviors", it still affirmed the positive impact of Sichuan mining on the abandonment of electricity. Miners are called on to actively participate in the "Consumption Demonstration Zone".

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Image from Gscaijing.com

According to local media Wu talk the blockchain, compared with the previous rumors, the government official confirmed the use of surplus electricity of the Bitcoin mining at the meeting, and also confirmed the cooperation between power generation and power consumption companies. It also called on mining companies to actively participate in the "consumption demonstration area" to consume surplus electricity together.

"70% of the world’s mines are in China, and 70% of China’s mines are in Sichuan. Sichuan is mainly distributed around the Dadu River. Ganzi is the core basin of the Dadu River. Among them, Kangzi, Ganzi was once said It is "China's Bitcoin Mining Capital"

The beginning and end of the event

On the 24th of this month, the government of Ganzi Tibetan Autonomous Prefecture in the western part of Sichuan Province issued a notice on power conservation for the dry season. It also made clear that it would implement measures to limit power in winter, regulate the use of electricity by enterprises, and urge power generation enterprises to cooperate with government priority indicators and social electricity during the dry season.

Among them, a notice called "The People's Office of Ganzi Tibetan Autonomous Prefecture on Convening a Symposium on the Clearing of Bitcoin Mines in the State" aroused a lot of uproars and revealed for the first time that the Ganzi government will convene a "mines cleaning forum" on 25 News.

This move has caused panic among miners in Sichuan, and many companies are worried that this will be one of the actions in recent years by the Chinese government to suppress the bitcoin mining industry.

However, such concerns are not without reason. As early as January 2, 2018, the China Internet Finance Special Rectification Office (China Mutual Funds Rectification Office) released internal documents, "requiring all localities to guide enterprises in their jurisdictions to continue to launch" mining operations "and to report work progress regularly."
In September of this year, it was reported that this policy continued to spread, and it was the turn to clear the "mining industry in Inner Mongolia." This entry was not secretly deleted until a week after Xi Jinping announced the use of "blockchain" as the country's core development technology.

However, with the resumption of the crackdown on virtual currency trading that was restarted in December, mining across China is once again in panic. Earlier this month, there was even news that the government was conducting a large-scale investigation of major commercial power users and villages in Hebei Province.

Mining Supervision Sandbox: Demonstration Area

However, the briefing held on the 27th ushered in a reversal.

A person familiar with the matter told local media that Wu talk the blockchain said that the focus of the inspection of the "Mining Sector Cleanup Symposium" was actually only to check the "electricity concessions" and "tax evasion and tax evasion", not to block and clear the mine.

The Ganzi Symposium proposed a supervision model similar to the supervision sandbox of the "Demonstration Area", which relieved relevant persons in the mining industry.

The consumption demonstration zone is a new policy proposed by Sichuan Province this year. According to the "Implementation Plan for Construction of the Sichuan Hydropower Consumption Industry Demonstration Zone" proposed by the Sichuan Provincial Government, the user electricity price is divided into "annual comprehensive electricity price" and "abandoned water electricity price", it is determined that the pilot projects of hydropower consumption industry demonstration zones will be conducted in six cities and prefectures, including Ganzi, Panzhihua, Ya'an, Leshan, Liangshan, and Aba.

During the period of high water use, the electricity-consuming enterprises use the abandoned water power to implement the electricity price of the abandoned water power alone, and the transaction electricity price of the abandoned water power is negotiated through the electricity consumption companies and power generation enterprises according to relevant policies. This pilot program is expected to be effective until 2022 December 31.

In the past, because abandoned power was mostly located in western China, the economy was underdeveloped, and there were fewer electricity-consuming companies. Oversupply often occurred. But now, bitcoin miners can use electricity to mine and generate revenue by generating electricity for the miners. Take bitcoin and use it effectively.

The government turned the crisis of the miners into a turnaround by forming a demonstration zone and formed a win-win situation. It also allowed local media Wu to say that the "only miners can solve the problem of power abandonment".

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