Taiwanese Gangsters Shoot Bitcoin Miner, Who Blames China’s Crackdown

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Taiwan’s newspaper, Liberty Times Net, has reported that two people shot a bitcoin miner when he refused to fulfill their original contract. Suspects Gao Qitang and Chen Yumin shot Wu Nan (nicknamed “milk”) at the Longhua Hall in Banqiao, New Taipei City on Apr. 14.

Under their agreement, Gao and Chen, both members of the ‘Freshwater gang’, raised 47 million new Taiwan dollar and allowed Wu to invest it in mining bitcoin. Wu was supposed to give them the profit, which he claimed was difficult since China banned cryptocurrency exchanges and ICOs. Once the argument got out of hand, both gangsters pulled out guns, a Beretta and a Taurus, and fired seven shots at Wu who ended up being injured.

Nowadays, it is not unusual for people to hire miners and then divide the profits at the end of the job. Mining freelancers are especially in demand, although most people prefer joining mining pools.

China’s Plan To Suppress Bitcoin Mining

Along with rumors and speculation, People’s Bank of China (PBoC) submitted a report explaining that the country would no longer give preference to mining operations. China also planned to observe the effects of using enormous amount of power in cryptocurrency mining in the country. Crypto companies such as Bitmain started moving their offices to other cryptocurrency friendly countries. It recently received approval to buy land in the US, Walla Walla County, to construct a blockchain facility. Bitmain also chose Switzerland since it is “one of the most progressive countries…with good legal stability”.

Bitcoin mining pool BTC.TOP also shifted to Canada “because of the relatively cheap cost, and the stability of the country and policies”. Slowly and steadily, Chinese have begun an exodus to other countries.

Featured image from Shutterstock.

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