Bitcoin is having a hard time recently due to China's regulation. I wonder what China can gain in cracking down bitcoin trade and mining? Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
what do you think? leave you comment, thx
what do you think? leave you comment, thx
Bitcoin Miners were drawing more power than China's Energy Infrastructure could deliver.
China either banned the miners or let their power grid be destroyed, so naturally they banned the miners.
Letting the bitcoin miners destroy their power grids, now that would have been insane,
keep an eye on Texas, as miners have been moving there and their warnings of rolling blackouts have already begun.
Bitcoin miners energy drain can grow at 80% in 1 year , that is like adding a whole new country drawing power,
no state or country will be able to provide that for long, expect Texas to start banning mining in less than 3 years.
Once Texas fails to satisfy the ever growing drain for Proof of Waste, no other country or state will bother.
FYI:
Many have been warning of the PoW energy waste issue since 2013,
the only fools are the bitcoiners that refuse to believe it.
