Bitcoin mining ban considered by China’s economic planner

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Bitcoin mining can involve hundreds of computers working together to try to guess the solution to cryptographic puzzles

Bitcoin creation has joined a list of activities facing a ban in China. A notice published online in Mandarin by the country’s economic planning agency added “virtual currency mining activities [including] the production process of Bitcoin” to a list of industries that could be shut down. Puzzle prizes
Bitcoin mining involves carrying out computer processor-intensive tasks to solve complicated mathematical problems in order to verify cryptocurrency transactions.

Source: www.bbc.com