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Topic: [BREAKING NEWS]: Putin getting ready to kick Bitmain's ass - page 4. (Read 2285 times)

jr. member
Activity: 59
Merit: 10
Well this is obviously a very interesting development. I am a bit surprised by this news.
hero member
Activity: 1106
Merit: 638
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.

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.
hero member
Activity: 938
Merit: 559
Did you see that ludicrous display last night?
You know that a lot of hash rate directed at Chinese mining pools is not going to be from China, right?

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?
This is indeed [BREAKING NEWS].
It really isn't.
legendary
Activity: 2184
Merit: 1024
Vave.com - Crypto Casino
This is indeed [BREAKING NEWS].

Shit's about to get real.
hero member
Activity: 672
Merit: 503
https://www.bloomberg.com/news/articles/2017-08-08/putin-s-aide-seeks-100-million-to-rival-china-in-bitcoin-mining


Quote
   Today’s bitcoin mining requires special computers based on chips with minimized power consumption. China’s Bitmain Technologies Ltd. is one of the leading producers of such equipment and also runs Antpool, a processing pool that combines individual miners from China and other countries. Rival Bitfury Group, founded by Valery Vavilov, a Russian-speaking native of Latvia, produces equipment for mining virtual currencies and runs large-scale centers in Georgia and Iceland.

    Russia has 20 gigawatts of excess power capacity, with consumer electricity prices as low as 80 kopeks (1.3 cents) per kilowatt hour, which is less than in China, RMC said in the presentation. The company initially plans to locate mining computers based on Bitfury chips in individual Russian households to challenge Bitmain by using Russia’s lower power prices.

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.
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