Sometimes FUD comes back to bite you in the ass.
For the past week we have been hearing the same FUDs over and over again, two contradicting ones.
1. China controls bitcoin and has more than 51% hashrate
2. China banned bitcoin and shut down all mining operations.
Meanwhile when we look at the hashrate charts we see not signs of any hashrate being "removed". If the FUD were correct we should have seen hashrate drop to 60 EHS but it is the same as before hovering around 140 EHS ±20
For the past week we have been hearing the same FUDs over and over again, two contradicting ones.
1. China controls bitcoin and has more than 51% hashrate
2. China banned bitcoin and shut down all mining operations.
Meanwhile when we look at the hashrate charts we see not signs of any hashrate being "removed". If the FUD were correct we should have seen hashrate drop to 60 EHS but it is the same as before hovering around 140 EHS ±20
the -20eh is explained by a 15 dip due to a generation upgrade from the s19(95t) to the s19pro(110t)
same electric. but more power which allows them to not have to run as many machines
but this is not just a china upgrade many countries are now getting shipments delivered of the pro
(you see this happen as a pattern every couple weeks)
they dont want to push the difficulty up so by using say less asics(electric discount) but they can still be around below last fortnights tip for hashrate and not lose much bitcoin block confirms.
the other dip is the hobby miners that cant afford to mine because prices dipped below $40k
its nothing to do with 'banning china'
even the recent news about the vice president was just that he is forming a committee that will specialise in certain financial things including looking into bitcoin.
with the main objective of the illegal miners that are stealing electric. farms running using residential electric part of the grid instead of the industrial supply. and those that dont pay taxes.
