Topic: No..China Does NOT Have 0% of the Hashrate - page 3. (Read 485 times)

In fact there are still hashrates in China but we can identify exactly what the total hashrate from China is.

CBECI writes clearly about their methodology to collect data with 3 big assumptions. https://ccaf.io/cbeci/mining_map/methodology

Many assumptions mean data you got can be inaccurate. Chinese miners can simply keep mining in small mining farms, at home and switch their IPs to other nations, connect to other mining pools, etc. We can not determine how many miners like that.

I don't have data for it too but I don't believe total hashrate from China is absolutely zero.

If you recall back months ago, news outlets were touting headlines regarding China having a 0% share of the global hashrate.

https://en.cryptonomist.ch/2021/10/18/bitcoin-mining-china-hashrate/
https://maxbit.cc/bitcoin-mining-china-now-has-0-hashrate/
https://coindesk.cc/bitcoin-mining-china-now-has-0-hashrate-50346.html

Even the University of Cambridge's Cambridge Bitcoin Electricity Consumption Index shows that China is not mining anything.

https://ccaf.io/cbeci/mining_map

When I had first heard this news I was quite skeptical. I just couldn't believe that there was nobody mining bitcoin within China's borders.

Data from a Chinese cybersecurity company Qihoo 360 estimates an average of 109,000 bitcoin mining IP addresses active daily in China. This is a whole lot more than zero. The miners that remain, though, are smaller-scale projects that did not find it feasible to just pick up and leave. They did not have the luxury of packing up on a helicopter and shipping their operation to Kazakhstan as did many of the larger-scale miners did.

The same cybersecurity company also stated that as much as 20% of the world’s bitcoin miners are estimated to still operate within China. The provinces of Jiangsu, Zhejiang, Guangdong, and Shandong are where the majority of these miners reside. Or at least that's where the connections are being made from. I struggle to imagine the amount of hoops such operators would have to jump through to ensure a safe operation.

The report states that many of the miners are able to take advantage of their small size and spread out their operation across multiple sites to ensure none of them stand out from the others. They are also using electricity sources not connected to the country's grid such as dams. Furthermore, miners have to work with foreign mining pools willing to sign them up despite the ban.

This goes to show you there is absolutely nothing anyone/anything can do to keep people from participating in our decentralized network.

Sources:

https://mp.weixin.qq.com/s/E3MzWQ-XT55wIC7S8FYD7w
https://www.cnbc.com/2021/12/18/chinas-underground-bitcoin-miners-.html