The United States is increasing its bitcoin hashrate in the region. - page 2.

tranthidung

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Answers are given in CBECI's methodology for Mining map ^[1]

Three assumptions and two potential bias factors (at least)

Assumptions

Quote

Assumption 1: geo-location data of hashers collected by mining pools provides an accurate picture of global hashrate location.
Assumption 2: data provided by participating mining pools constitutes a representative sample of Bitcoin’s total geographic hashrate distribution.
Assumption 3: the available sample of Chinese province data is representative of the total hashrate distribution within China.

Bias factors / limitations

Quote

Sample may not be representative
Usage of VPNs or proxy services by miners

[1] https://cbeci.org/mining_map/methodology

I think South Korea have Bitcoin mining farms too. With all financial, economic sanctions on that nation, their governments probably set up and run Bitcoin mining farms. Probably with support from China.

ranochigo

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Quote from: dkbit98 on May 06, 2021, 08:21:11 AM

Better read previous posts before asking questions like this.
China is NOT equal all Chinese mining pools, and that is NOT equal all miners in that pools located in China.
For example I know some people from Europe, that have asic miners running in EU but they use Binance pool, and they are also part of that 65% like many others.

No, the stats that the user is providing is not completely wrong. As in the graph represents the aggregate IP logs across the (few) pools. I mean you can't really get anything more accurate than this considering the top pools are all based in China. You can interpret the stats both ways, whether it is indicative of the actual situation or not.

IMO, its a 50-50; you're counting only Chinese pools but a significant proportion (I think 2/3) of them is Chinese anyways.

Yeah so the pools that are Chinese controls about 80%. Only if the rest of the network are not Chinese, then I presume it would be around 50% actually.

dkbit98

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Quote from: Oshosondy on May 06, 2021, 08:00:30 AM

How is it wrong? China control 75% of hash rate in 2019, but drastically reduce to 65% in 2020. This image is the hash rate generated by each country a month ago.

Better read previous posts before asking questions like this.
China is NOT equal all Chinese mining pools, and that is NOT equal all miners in that pools located in China.
For example I know some people from Europe, that have asic miners running in EU but they use Binance pool, and they are also part of that 65% like many others.

Oshosondy

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Quote from: dkbit98 on May 06, 2021, 07:20:49 AM

This is wrong information and China is actually not controlling 75% or 65% of Bitcoin hashpower, but like I said before I would like to confirm that with more precise data if anyone can share that info.

How is it wrong? ~~China~~ Chinese miners control 75% of hash rate in 2019, but drastically reduce to 65% in 2020. This image is the hash rate generated by each country a month ago.

https://cbeci.org/mining_map

ranochigo

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Quote from: dkbit98 on May 06, 2021, 07:20:49 AM

It is true that many miners join chinese pools because they have lower fees and other incentives, but nothing is stopping pools from US and other countries to have even lower fees in this open market.

Payout variance is something that you cannot solve without having miners in the first place. Miners are far more likely to favour larger pools due to their reliability as well, fees can matter less in some instances.

Quote from: dkbit98 on May 06, 2021, 07:20:49 AM

We can still assume that most actual mining devices are actually located in China and joining their own chinese pools, but I am not sure if it's possible to be more precise and see actual IP addresses of each miner inside specific pool.

CBECI has randomized data here: https://cbeci.org/mining_map.

** I didn't see the edit when I was typing. But given that the data consists of only pools based in China, it could very well be possible that there might be some discrepancies from the actual values due to the sampling method.

dkbit98

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Quote from: ranochigo on May 06, 2021, 07:14:07 AM

Don't look at the data and judge it solely based on where the pools are based in. Most pools have servers in different locations and people from all over the world can connect to their pools, mainly from the lower fees or payout variance.

It is true that many miners join chinese pools because they have lower fees and other incentives, but nothing is stopping pools from US and other countries to have even lower fees in this open market.
We can still assume that many actual mining devices are actually located in China and joining their own chinese pools, but I am not sure if it's possible to be more precise and see actual IP addresses of each miner inside specific pool.

Quote from: Oshosondy on May 06, 2021, 06:59:23 AM

China control over 75% of mining hashrate before but now controlling lesser today, at the begining of this year, China controls around 65%

This is wrong information and China is actually not controlling 75% or 65% of Bitcoin hashpower, but like I said before I would like to confirm that with more precise data if anyone can share that info.
Wherever pool location is, if something happens to pool itself it also affect all miners connected with that pool, resulting in drop of hashpower until miners configure to use some other available pool.

ranochigo

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Don't look at the data and judge it solely based on where the pools are based in. Most pools have servers in different locations and people from all over the world can connect to their pools, mainly from the lower fees or payout variance.

In the recent months, the proportion of China miners has indeed decreased in comparison to the rest of the world. US is certainly still not the most conducive place, isn't there still tariffs on ASICs from China? I'd think that labour laws are stricter there and probably would have to spend more on that as well. The decrease in proportion is most likely due to the decrease in the miners from China rather than an increase in miners from the US.

dkbit98

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Quote from: mk4 on May 06, 2021, 06:38:31 AM

I sure hope we get more hashrate on Foundry so we can finally get rid of the old classic "BitCoiN iS CeNtRaLizEd BeCaUsE aLL MiNeRs ArE iN ChiNa" FUD. Hopefully Miami mayor Francis Suarez can give them a hashrate boost. He's been killing it lately with Bitcoin and technology advancements in general.

It's no surprise that we see rise of other big mining pool outside of China, and United States is first obvious choice but I recently examined all other countries that have potential for doing something similar.
More than 150 countries are currently producing hydroelectricity that can all be used for Bitcoin mining, and along with US and China other there are other countries like Brazil, Canada, Russia and India.
I would like to see more balance of countries and I would love to see bigger mining pools in Russia, Brazil and other countries that have cheaper electricity.
Focusing more on hydro energy for mining bitcoin we are closing the mouth of many bitcoin bad for climate trashtalkers and distributing hashpower in more countries.

Oshosondy

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When the mining hash rate dropped few weeks ago, I noticed that Foundry Mining Pool which is located in North America later increased its mining hashrate, it will be good if this continues in the North America region. China control over 75% of mining hashrate before but now controlling lesser today, at the begining of this year, China controls around 65% but recently lesser because of the increaseed hash rate from other region, especially North America, specifically USA.

mk4

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I sure hope we get more hashrate on Foundry so we can finally get rid of the old classic "BitCoiN iS CeNtRaLizEd BeCaUsE aLL MiNeRs ArE iN ChiNa" FUD. Hopefully Miami mayor Francis Suarez can give them a hashrate boost. He's been killing it lately with Bitcoin and technology advancements in general.

https://www.btctimes.com/news/Miami-Mayor-bets-on-Bitcoin

https://twitter.com/FrancisSuarez/status/1389747493114687492

DaveF

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Pool location does not equal miner location.
Picking on ViaBTC at the moment. They are hashing at about 10K PK/s at the moment.
Some of that is from China, some is from the US, some is elsewhere. But the pool itself is in China.
But saying that all of it is China based hash is not correct.

Also, although Texas might be a good location to setup a pool it is not that great to setup a mining operation.
It gets hot in the summer driving up cooling costs.
As the storm this winter proved their electrical system is very fragile.
In the US for the most part the Pacific NW and other areas with massive hydro power and stable weather tend to be better for mining.

-Dave

Kabul

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Chinese government is trying to shut down many mining pools and this might be a good opportunity for us to close the gap. However, I still doubt that the climate of this country is good for set up pools. Only alaska is cool enough that electric bill will not be a trouble

mr_ROBOTT

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As we all know, China is a leader in bitcoin mining and is one of the most important countries in the world in bitcoin mining.
But data show he climbed into the Foundry Mining Pool in the United States in April. It is one of the top 5 pools in the world and owns 7.6% of the shares.
Also, in the data seen from the pools, we can see that the hashrate of Chinese pools has decreased.
According to the Nasdaq, Texas could become one of the most important hubs for bitcoin mining due to its supply of wind and solar energy.
Here we can see the transfer of mining power from China to USA.

Source:https://cointelegraph.com/news/signs-the-bitcoin-hashrate-is-starting-to-move-away-from-china

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