The Founder of Binaryx Discusses the Chinese Government’s Crackdown on Bitcoin with Forbes
Oleg Kurchenko, founder and CEO of Binaryx, joined the discussion on “China’s Bitcoin mining drama” with Kenneth Rapoza from Forbes. According to Oleg, the industrial mining in China is dead for now. The scores of miners are quitting large farms and moving the processing equipment.
“Cryptocurrency world is changing rapidly” – Oleg noted. “Within a short space of time the removed miners will be operating on new sites where there are less stringent regulatory regimes and cheap electricity.”
“This is not the first time that the Chinese government has launched an all-out attack against Bitcoin. Currently, with the bearish trend prevailing in the market, it is difficult to predict whether we will face another crypto frenzy. We also can’t confirm whether Bitcoin will be able to reclaim its heights in the foreseeable future, – Oleg added.