Topic: Photos: Life inside of China’s massive and remote bitcoin mines - page 3. (Read 1972 times)
China is one of the largest bitcoin miners in the world. Many of them are young people. Maybe the tech of bitcoin is a way to make rich for chinese people becuase with bitcoin they can earn invisible asset. This asset not tracked by the government and taxes.
Until now, I don't understand why the Chinese are more interested in bitcoin then other people. We need to see more of these mining farms around the world or It will be just a matter of time until we see centralization If we could call it that way. (This is valid for exchanges as well)
First of all, such facility is a major business / investment, probably made by some business man agreed by the government. Those guys are employees. Don't compare with a guy next door having a couple of miners in the garage.
Second, China does as many investments as possible to get anything possible that holds value. The labor is cheap and somehow they try to get more than their local currency.
This makes gold, dollar, western companies, shares, properties all over the world, cryptocurrencies (and many other things I didn't think of) a target to store their wealth.
Until now, I don't understand why the Chinese are more interested in bitcoin then other people. We need to see more of these mining farms around the world or It will be just a matter of time until we see centralization If we could call it that way. (This is valid for exchanges as well)
It might be because they get ASIC mining machines at very low prices and also their electriity charges would also be cheap.We have already seen china dominating our bitcoin environment by just dumping and then buying bitcoins at cheap price.Thanks to PBOC because since it ha regulated bitcoin exchanges,their dominance have come to an end in bitcoin community. 
Jesus....how can you compete with this. I bet they don't pay for elecricity..
Quite a few mines have been built to be near under utilised power stations with oodles of electricity going spare. I don't know about free but it's possible.
Jesus....how can you compete with this. I bet they don't pay for elecricity..
Until now, I don't understand why the Chinese are more interested in bitcoin then other people. We need to see more of these mining farms around the world or It will be just a matter of time until we see centralization If we could call it that way. (This is valid for exchanges as well)
Electricity is dirt cheap in China, they have the hardware and the knowledge to make it work, they basically have all what they need to make this a success and they are not going to let the opportunity go to waste, so I do not think the situation you are describing is going to change anytime soon. Until now, I don't understand why the Chinese are more interested in bitcoin then other people. We need to see more of these mining farms around the world or It will be just a matter of time until we see centralization If we could call it that way. (This is valid for exchanges as well)
To make money. They have the tech, the manufacturing, the bodies, the electricity and the property going spare. Nowhere else can match it.
And it's already centralised.
Cool article, but pictures of mining equipment fail to excite me for some reason. They need to break down all those damn boxes, too, and chuck that packing material (two more photos that leave me meh). Mountains are nice, and getting all that cheap electricity is even nicer. Awesome place to mine bitcoin at.
Until now, I don't understand why the Chinese are more interested in bitcoin then other people. We need to see more of these mining farms around the world or It will be just a matter of time until we see centralization If we could call it that way. (This is valid for exchanges as well)
https://qz.com/1026605/photos-chinas-bitcoin-mines-and-miners/
A bitcoin “mine” with a blue tin roof sits next to a hydroelectric power plant in Ngawa Tibetan and Qiang Autonomous Prefecture, Sichuan province. (Liu Xingzhe/ChinaFile/EPA)
Packing materials for mining machines pile up beside the water-cooling system at a Bitcoin mine in Sichuan province. (Liu Xingzhe/ChinaFile/EPA)
Employees at a bitcoin mine in Sichuan. (Liu Xingzhe/ChinaFile/EPA)
***More at source
PRETTY PICTURES.
Interestingly, the bitcoin plant photographed sits adjacent to a hydroelectric power plant. All of its energy comes from a renewable & natural source which seems to contradict the media perspective which says bitcoin is bad for the environment and contributes to climate change.
The photos might also help explain why GPU's and ASIC's to some degree are scarce commodities and not as easy to find as they used to be.
Quote
A bitcoin “mine” with a blue tin roof sits next to a hydroelectric power plant in Ngawa Tibetan and Qiang Autonomous Prefecture, Sichuan province. (Liu Xingzhe/ChinaFile/EPA)
Packing materials for mining machines pile up beside the water-cooling system at a Bitcoin mine in Sichuan province. (Liu Xingzhe/ChinaFile/EPA)
Employees at a bitcoin mine in Sichuan. (Liu Xingzhe/ChinaFile/EPA)
***More at source
PRETTY PICTURES.
Interestingly, the bitcoin plant photographed sits adjacent to a hydroelectric power plant. All of its energy comes from a renewable & natural source which seems to contradict the media perspective which says bitcoin is bad for the environment and contributes to climate change.
The photos might also help explain why GPU's and ASIC's to some degree are scarce commodities and not as easy to find as they used to be.
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