Topic: China Ban and the mining exodus - page 2. (Read 285 times)
These countries that are benefitting with the crypto ban in China should be thankful that China kicked the crypto and mining industry out of the country's jurisdiction. What China does not want can be a big welcome to others. So at the end, we can see the ban to be working well with the crypto industry because now there can be no single "rogue' country controlling mining. the only big challenge the mining industry has to deal is the high energy consumption so there are now moves to make sure that they avail of renewable energy sources and utilizing wasted energy so it can be utilized for better economic activity rather than be released to the environment for nothing.
This is what I was talking about, miners migrating to jurisdictions that are close by such as Kazakhstan that is a neighbor (the both countries share a border) instead of migrating to the other side of the world into an unknown territory with weird rules about bitcoin and high costs.
A lot of countries have been benefitting from China ban on cryptos. Due to the ban, countries that made borders with China saw their crypto mining industry boom.
See i noticed that china government ban cryptocurrency because they are not benefiting on like before via crypto mining, that's from my perception" so some countries who knows quite well of cryptocurrency and also sum the profit china miner's return as revenue has taken it upon their self, base on what you said about (Kazakhstan), now this country have noted that mining of cryptocurrency will help to boost her economic system, so from the estimate measure of profit generated through the source link of op it's obvious mining is another method that can elevate a country if measure is taken proper to embrace crypto fully in a Nation, despite of the heavy consumption of electricity the process of mining consumed, i would have say that twenty percent (%20) of countries have to adventure into mining. 
Good for their neighboring countries since they're where the miners will go first but it's still a consideration about the electricity cost if they're cheaper or close to what China has. I just wish that the Chinese government won't chase those miners especially the bigger farms that have been operating in their country and then forced to rehabilitate because of the policy that they've implemented about mining which made them ban it.
They may look for alternative energy sources like tapping renewable energy. So if they are planning to stay long in the area, maybe investing in renewable energy may be a good option for them. We have no idea what Chinese government will have a take on mining facilities because as they totally ban the usage of crypto and so are miners. Now, some may be are just hoping that their government will change their stance on this matter, but when?
When China government realize that they did the wrong thing with the miners and crypto, they will change their regulations and will ask the miners or big mining company to sit down together and solve the problem. But if it is not, the miners will move to another crypto-friendly country so they can continue mining crypto.
~
It can't be true because the country is among the top countries with coal reserves.
All of sudden the news comes after they were heavily doing BTC mining. Is the big man up above pulling all the strings on the poor countries?
Good argument but that doesn't mean they have to tap those reserves to provide more electricity. They could probably consume more from what they produced yearly to accommodate BTC mining but that would also decrease what they could add to their reserves.It can't be true because the country is among the top countries with coal reserves.
All of sudden the news comes after they were heavily doing BTC mining. Is the big man up above pulling all the strings on the poor countries?
I have the feeling that in the next few more years, only the governments are the ones mining Bitcoin and the people are just going to be the holders and making transactions.
It's quite ironic that they will mine something they do not want to be spent by the people. They will have to pass law recognizing BTC as a legal tender before they start taking over mining. 
Permanent Bans of Bitcoin PoW mining in Kazakhstan , not far away.
China Smarten up, and so will Kazakhstan ,about the dangers of PoW to the people and energy grid,
although odds are Texas holds out until their power grid is destroyed and throws Texas back to the stone age for years.
Watch Texas growing power nightmare here : http://www.ercot.com/
Odds are less than 2 years until a Texas Power Grid collapse during a winter storm, thanks to the increased energy drain by PoW bitcoin miners.
China Smarten up, and so will Kazakhstan ,about the dangers of PoW to the people and energy grid,
although odds are Texas holds out until their power grid is destroyed and throws Texas back to the stone age for years.
Watch Texas growing power nightmare here : http://www.ercot.com/
Odds are less than 2 years until a Texas Power Grid collapse during a winter storm, thanks to the increased energy drain by PoW bitcoin miners.
If you're going to make such a criticism, you'd better post a link that works, that's accessible to everyone:
Besides, it's no longer what you say, but how you say it that doesn't inspire me much confidence.
A lot of countries have been benefitting from China ban on cryptos. Due to the ban, countries that made borders with China saw their crypto mining industry boom. Kazakhstan is one of the most recent countries where the crypto mining interest is surging as "at least $1.5B in economic activity from crypto mining within 5 years" is expected to hit the country. The investment that crypto will bring to the country will be a boost for Kazakhstan's development.
https://cointelegraph.com/news/kazakhstan-expects-at-least-1-5b-in-economic-activity-from-crypto-mining-within-5-years
https://cointelegraph.com/news/kazakhstan-expects-at-least-1-5b-in-economic-activity-from-crypto-mining-within-5-years
Bitcoin PoW mining is a plague on any country dumb enough to invite it in.
Rolling Blackouts anyone.
https://forkast.news/headlines/kazakhstans-power-shortages-crypto-miners-scramble/
https://compassmining.io/education/kazakhstans-power-shortage-outage-bitcoin-mining/
https://www.reuters.com/business/energy/kazakhstan-rations-power-after-coal-fired-plant-outages-2021-10-15/
https://eurasianet.org/kazakhstan-to-restrict-crypto-miners-amid-power-shortages
Quote
Then China offered a reality check this summer when it banned cryptocurrency use and mining on its territory.
Many farmers simply moved operations across the border, turning Kazakhstan into the world’s second-largest crypto miner.
The country’s share of global mining soared from 1.4 percent in September 2019 to over 18 percent,
Many farmers simply moved operations across the border, turning Kazakhstan into the world’s second-largest crypto miner.
The country’s share of global mining soared from 1.4 percent in September 2019 to over 18 percent,
Quote
Kazakhstan to restrict crypto miners amid power shortages
Quote
Facing a sudden energy shortage, officials must be regretting their recent embrace of the crypto industry.
Then China offered a reality check this summer when it banned cryptocurrency use and mining on its territory.
Many farmers simply moved operations across the border, turning Kazakhstan into the world’s second-largest crypto miner.
The country’s share of global mining soared from 1.4 percent in September 2019 to over 18 percent
Then China offered a reality check this summer when it banned cryptocurrency use and mining on its territory.
Many farmers simply moved operations across the border, turning Kazakhstan into the world’s second-largest crypto miner.
The country’s share of global mining soared from 1.4 percent in September 2019 to over 18 percent
Permanent Bans of Bitcoin PoW mining in Kazakhstan , not far away.
China Smarten up, and so will Kazakhstan ,about the dangers of PoW to the people and energy grid,
although odds are Texas holds out until their power grid is destroyed and throws Texas back to the stone age for years.
Watch Texas growing power nightmare here : http://www.ercot.com/
Odds are less than 2 years until a Texas Power Grid collapse during a winter storm, thanks to the increased energy drain by PoW bitcoin miners.
It can't be true because the country is among the top countries with coal reserves.
All of sudden the news comes after they were heavily doing BTC mining. Is the big man up above pulling all the strings on the poor countries?
I have the feeling that in the next few more years, only the governments are the ones mining Bitcoin and the people are just going to be the holders and making transactions.
A lot of countries have been benefitting from China ban on cryptos. Due to the ban, countries that made borders with China saw their crypto mining industry boom. Kazakhstan is one of the most recent countries where the crypto mining interest is surging as "at least $1.5B in economic activity from crypto mining within 5 years" is expected to hit the country. The investment that crypto will bring to the country will be a boost for Kazakhstan's development.
https://cointelegraph.com/news/kazakhstan-expects-at-least-1-5b-in-economic-activity-from-crypto-mining-within-5-years
https://cointelegraph.com/news/kazakhstan-expects-at-least-1-5b-in-economic-activity-from-crypto-mining-within-5-years
Bitcoin PoW mining is a plague on any country dumb enough to invite it in.
Rolling Blackouts anyone.
https://forkast.news/headlines/kazakhstans-power-shortages-crypto-miners-scramble/
https://compassmining.io/education/kazakhstans-power-shortage-outage-bitcoin-mining/
https://www.reuters.com/business/energy/kazakhstan-rations-power-after-coal-fired-plant-outages-2021-10-15/
https://eurasianet.org/kazakhstan-to-restrict-crypto-miners-amid-power-shortages
Quote
Then China offered a reality check this summer when it banned cryptocurrency use and mining on its territory.
Many farmers simply moved operations across the border, turning Kazakhstan into the world’s second-largest crypto miner.
The country’s share of global mining soared from 1.4 percent in September 2019 to over 18 percent,
Many farmers simply moved operations across the border, turning Kazakhstan into the world’s second-largest crypto miner.
The country’s share of global mining soared from 1.4 percent in September 2019 to over 18 percent,
Quote
Kazakhstan to restrict crypto miners amid power shortages
Quote
Facing a sudden energy shortage, officials must be regretting their recent embrace of the crypto industry.
Then China offered a reality check this summer when it banned cryptocurrency use and mining on its territory.
Many farmers simply moved operations across the border, turning Kazakhstan into the world’s second-largest crypto miner.
The country’s share of global mining soared from 1.4 percent in September 2019 to over 18 percent
Then China offered a reality check this summer when it banned cryptocurrency use and mining on its territory.
Many farmers simply moved operations across the border, turning Kazakhstan into the world’s second-largest crypto miner.
The country’s share of global mining soared from 1.4 percent in September 2019 to over 18 percent
Permanent Bans of Bitcoin PoW mining in Kazakhstan , not far away.
China Smarten up, and so will Kazakhstan ,about the dangers of PoW to the people and energy grid,
although odds are Texas holds out until their power grid is destroyed and throws Texas back to the stone age for years.
Watch Texas growing power nightmare here : http://www.ercot.com/
Odds are less than 2 years until a Texas Power Grid collapse during a winter storm, thanks to the increased energy drain by PoW bitcoin miners.
Kazakhstan is one of the most recent countries where the crypto mining interest is surging as "at least $1.5B in economic activity from crypto mining within 5 years" is expected to hit the country. The investment that crypto will bring to the country will be a boost for Kazakhstan's development.
This can be an exaggerated news but there is fact behind it. And if it contains fact about profit for countries, do you really think that China will maintain their ban on Bitcoin/ crypto mining forever?They used to have biggest Bitcoin mining farms and industry so will they easily to give it up by themselves?
It is unlogically to think that Chinese government will keep their ban when their energy crisis is over.
Good for their neighboring countries since they're where the miners will go first but it's still a consideration about the electricity cost if they're cheaper or close to what China has. I just wish that the Chinese government won't chase those miners especially the bigger farms that have been operating in their country and then forced to rehabilitate because of the policy that they've implemented about mining which made them ban it.
They may look for alternative energy sources like tapping renewable energy. So if they are planning to stay long in the area, maybe investing in renewable energy may be a good option for them. We have no idea what Chinese government will have a take on mining facilities because as they totally ban the usage of crypto and so are miners. Now, some may be are just hoping that their government will change their stance on this matter, but when?
Good for their neighboring countries since they're where the miners will go first but it's still a consideration about the electricity cost if they're cheaper or close to what China has. I just wish that the Chinese government won't chase those miners especially the bigger farms that have been operating in their country and then forced to rehabilitate because of the policy that they've implemented about mining which made them ban it.
....The investment that crypto will bring to the country will be a boost for Kazakhstan's development.
That could happen if the mining activities are handled properly since there's an ongoing bank ban on trading cryptocurrencies if I'm not mistaken. It's already costing too much energy for them causing shortages. They could also ban this sooner or later if they fail to regulate it and stop or minimize illegal miners. There's already a proposal to limit mining energy consumption to 100MW for the entire country. 
A lot of countries have been benefitting from China ban on cryptos. Due to the ban, countries that made borders with China saw their crypto mining industry boom. Kazakhstan is one of the most recent countries where the crypto mining interest is surging as "at least $1.5B in economic activity from crypto mining within 5 years" is expected to hit the country. The investment that crypto will bring to the country will be a boost for Kazakhstan's development.
https://cointelegraph.com/news/kazakhstan-expects-at-least-1-5b-in-economic-activity-from-crypto-mining-within-5-years
https://cointelegraph.com/news/kazakhstan-expects-at-least-1-5b-in-economic-activity-from-crypto-mining-within-5-years
Jump to: