You are totally confused.
China is still subsidizing mining because .05/kWhr is below that actual cost to make electricity. China does this by fucking up the Earth which belongs to everyone. When you are a careless shithead who pollutes without regard for others, to achieve dominance in bitcoin, you are evil.
That is a fact.
China is still subsidizing mining because .05/kWhr is below that actual cost to make electricity. China does this by fucking up the Earth which belongs to everyone. When you are a careless shithead who pollutes without regard for others, to achieve dominance in bitcoin, you are evil.
That is a fact.
lol not fact.
do the maths. making electric is cheaper then you think.
Quote
http://www.wsj.com/articles/low-oil-price-fuels-chinese-importsand-exports-1470202503
The latest dip in oil prices below $40 a barrel is good news for Asia’s motorists, but it stands to boost the already-growing reliance of China and other big crude consumers on imported oil.
U.S. oil fell below $40 a barrel Monday for the first time since April and was beneath it again in early Wednesday trading in Asia.
The latest dip in oil prices below $40 a barrel is good news for Asia’s motorists, but it stands to boost the already-growing reliance of China and other big crude consumers on imported oil.
U.S. oil fell below $40 a barrel Monday for the first time since April and was beneath it again in early Wednesday trading in Asia.
Quote
https://www.eia.gov/tools/faqs/faq.cfm?id=667&t=6
A barrel of oil contains about six gigajoules of energy. That’s six billion joules or 1667 kilowatt-hours.
A barrel of oil contains about six gigajoules of energy. That’s six billion joules or 1667 kilowatt-hours.
so lets take $42(more accurate then occasional $40)
$42/1667kwr=$0.025/kwh
the reason america charge upto 10cents a kwh and UK charge upto 20p/kwh is due to added tax and corporate profits.
but to get to the point is costs less than 3cents to make electric so china charging 5cents is not 'subsidised'
