Why is China cracking down on Cryptocurrencies

Agar Bitcoin ki value Ko dekha jaaye to January 2021 mein to uski value 30,000 US dollar ke aaspaas thi.Aur uski 3 -4 mahine baad uski value bahut jyda badh gai Thi like 60,000 US dollar. Lekin April aur may mein Bitcoin ki value kam hoti dekhi gai like 33,215 US dollar. Or ye sirf Bitcoin ke sath hi nahin hua Aur bhi bahut sari currencies hai jinke sath yhi dekha gaya hai. jaise ki cardano ,ethereum , litecoin, uniswap ,XRP, Polka Dot, chain link. Ab question ye hai ki cryptocurrencies ki value loose kyon hoti ja rahi hai aur ismein kya China ka kuchh role hai.

China Tactics | Cryptocurrencies

China Ne sabse pahle to crypto mining operations ko stop kar Diya. China ki jo Sabse badi Bank hai people’s Bank of China usne direct Kiya Hai dusre bank aur payment firms ko ki jo bhi payment ho rahi hai via cryptocurrency use stop kar diya jaaye .

Isi karan se cryptocurrency ki value lose hoti ja rahi hai. PBC said : China construction Bank, industrial and commercial bank of China , agricultural Bank of China and postal savings bank of China along with alipay in sabko crypto transactions karne ke liye mana kiya hai.

Crypto – mining | Cryptocurrencies

China pichhle 5-6 years se crypto mining ka ek bahut bada region banaa hua Hai. Cryptocurrency ki validation ke liye mathematical puzzles solve kiye jaate hai.Entire cryptocurrency based hai blockchain technology. #Cryptocurrencies

Jaise hi dheere dheere cryptocurrencies popular ho rahi hai yeh puzzle solving and computation dhire dhire complex hota ja raha hai and energy-intensive. Jo Huge mining operations chalate hain jaise ki jo security experts, hackers Hote Hain unhein bade bade processor chalane hote hain is kam Ke liye jiske liye electricity ki bhi bahut jarurat hoti hai.

Cheap Electricity | Cryptocurrencies

Aur China ki baat Ki chai to yahan par electricity bahut cheap milti hai.
According to cambrige Bitcoin electricity consumption index. 2020 Mein China se sabse jyada electricity use hui thi for bitcoin mining. Xinjiang and Sichuan in dono jgah se sabse jyada electricity use ki gayi thi. Aur China ne in regions par bitcoin mining ke liye mana kar diya hai. Jiski wjah se cryptocurrencies ki value kam hoti jaa rhi hai. Cryptocurrencies

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