Now this is getting interesting. And when Russia joins the mining ecosystem, you know that the US is not simply going to sit back and relax. They will jump in too eventually.
The Chinese mining monopoly has it's days countered. It's time to fire Jihan.
The Chinese mining monopoly has it's days countered. It's time to fire Jihan.
Or the US will declare prosecutorial jurisdiction over Russia and seize every Russian home computer under the the explanation of: suspected financial involvement with Russian spy organization....because anything Russian is considered "covert" and having "malintent" and "egregious to the US" and "something the US would never engage in."
It would be nice for multiple countries to provide ideal and competitive conditions for bitcoin mining...it shouldn't be monopolized in China because they can produce the cheapest cost of energy.
Regardless, what's the difference between a Chinese mining monopoly and a Russian mining monopoly except for whether you have a personal vendetta against the Chinese ones?
It's not a monopoly when two strong entities exist at the same time...it's called duopoly...and when they're not working together it's called competition. And competition is good for all of us.
Lol how's the US going to seize inside Russian citizen homes? they can't do shit if Putin decides he wants to mine BTC. Putin has nukes, US know where the limits are.
You mean seizing Russian citizens living in US that are mining BTC?
If BTC survives long enough, then big state actors will either attack it or will compete to dominate it, and when one begins then the rest will follow, this in principle is good because different big actors will be competing for hashrate, it only legitimizes Bitcoin even more as something important.
Just wait until AMD, Nvidia and Intel enter the mining game, the cheap chinese stuff may not cut it in the future, but they will always have the cheap electricity advantage so im not sure how they will go around that.
This will likely not going to happen. I don't want say why it won't but I can guarantee you that CRYPTOCURRENCY cannot be taken over by Centralized authorities.
