Topic: Many large crypto mining operators are moving out of China - page 2. (Read 202 times)
If an article is merely speculating, it's too early to discuss this. However, with China being hostile to cryptos and to freedom in general, I think now is the time for mining farms to seriously consider relocation. Moving mining away from China could make mining greener (because China's big on coal) and even make China a little greener (although they'll probably just increase their carbon footprint in some other way). Also, it could help stabilize the mining operations without the risk of being banned like the one that miners in Inner Mongolia are facing now. And that would also decrease the power China's having over Bitcoin mining. So I believe it would overall be good if miners relocate.
China’s renewed campaign against cryptocurrency has mining and exchange operators retreating from the country. READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/05/28/many-large-crypto-mining-operators-are-moving-out-of-china/
The government of China is authoritarian by nature. They understand that cryptocurrency can potentially provide financial freedkm to their people which could in turn challenge the stability of their authoritarian regime. Like every other problem, they are now trying to uproot this problem from their soil. But that's not the end really! Wait for some more days, they will legally ban every single cryptocurrencies and all related transactions. They will also impose a punitive action if anyone is found dealing in cryptos. They are good in uprooting any challenges and they will try their best in this case as well.
Not new, how many times did we hear Chinese government banning bitcoin mining? let me give you a hint it's during bitcoin's bull run (2013,2017). So I'm not surprised by the announcement again.
And large bitcoin mining farm such as Bitmain has already a back up plan. As far as I can remember, they are building a huge farm in Texas USA. So they are prepared, in case this ban happens. And it will be good in the long run, so that the Chinese won't have the monopoly with regards to bitcoin mining.
And large bitcoin mining farm such as Bitmain has already a back up plan. As far as I can remember, they are building a huge farm in Texas USA. So they are prepared, in case this ban happens. And it will be good in the long run, so that the Chinese won't have the monopoly with regards to bitcoin mining.
The Chinese government move against cryptocurrency must have impacted negatively to the mining community and industries in China, but China still holds the record for housing the highest number of mining industries in the world. The hash rate coming from China is huge and I don't see that changing anytime soon.
if really happen , for long term goal its good for crypto market. china as biggest miner in the world could not controll of make fud anymore. we will really see decentralized market if miners spreaded around the world. market will be healthier than before and i see bullish trend stronger than before. we will see in couple weeks is it will really happen or not.
Decentralization is happening, we only see them as a concern because miners are concentrated in China and fear they collude to attack 51%. That's just a possibility, it's really unlikely.
refer to the link below
https://academy.binance.com/en/articles/osystem-pools-explained
The truth is that no matter where they go, they are Chinese and they will choose the most profitable place to mine.
China’s renewed campaign against cryptocurrency has mining and exchange operators retreating from the country. READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/05/28/many-large-crypto-mining-operators-are-moving-out-of-china/
It would not surprise me if some of the big mining companies in china are looking into moving to another country now that china made a move against crypto as a whole again. I recently invested into a project where every token you own represents a mining hash rate for BTC and ETH and they have mining pools in china but also one in mongolia, therefore i could really see some companies moving from china to mongolia in the future. Central europe will never be that big in the mining business because the prices for electricity there are simply too high.
if really happen , for long term goal its good for crypto market. china as biggest miner in the world could not controll of make fud anymore. we will really see decentralized market if miners spreaded around the world. market will be healthier than before and i see bullish trend stronger than before. we will see in couple weeks is it will really happen or not.
This article is for speculation only. There has been no confirmation yet from mining pools from China.
Currently, on the Bitcoin mining map, China is still the mining country with the largest hash rate in the world.
Watch at the link below
https://chainbulletin.com/bitcoin-mining-map/
Currently, on the Bitcoin mining map, China is still the mining country with the largest hash rate in the world.
Watch at the link below
https://chainbulletin.com/bitcoin-mining-map/
China’s renewed campaign against cryptocurrency has mining and exchange operators retreating from the country. READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/05/28/many-large-crypto-mining-operators-are-moving-out-of-china/
Jump to: