Topic: USA overtake's China in minning activities. (Read 149 times)
What I think important is that we have mining evenly distributed globally. So that no country or individuals can have impact on BTC network. What Chinese govt has done is nothing surprising, I expect similar bans from other governments in coming days as we are entering a very strict regulation era for crypto.
You could say it like that but it's not because chinese people stop mining or many have stop mining. It is because of their government that mining is illegal. It's not just mining that is illegal so USA can overtake if that's what you call it. Some may continue mining but not the same total of miners before.
...the United States has surpassed China to become the leader country in mining activities, according to the latest news and analysis.
It's more like China voluntarily left this competition by the decision of its government, and not that someone threw them off Olympus. All the leading mining pools that were previously located in China simply changed their jurisdiction. And it is for this reason that today's mining leaders, the USA, Kazakhstan and the Russian Federation, have increased their bitcoin mining capacities.
I think so too, the US over taking china in mining activities won't have happened if the Chinese Government hasn't just decided to frustrate miners, and also this has been an embattled year for the Chinese Government and crypto-currency, I think the over take isn't something the Chinese can't recover top spot again back from the US, all they have to do is for the government to reach an agreeable terms with the miners.
That is just it but Chinese Government did not frustrate miners, it was a law and mandatory that they do not need mining activity to take place in their country again, but we all know how life is, we should not be surprised if we hear that some people are arrested in China because of mining which is now seen as illegal activities in China, some people in China will still see a way to mine illegally, but this does not mean the hashes has not dropped and possibly it would have dropped to almost zero but yet some miners will still decide in a opposite direction and like the fun illegally and still mine using Tor or VPN. 
Miners are interested in profit, and that profit comes from many reasons, the most important of which is cheap electricity.
It is true for household, small miners but untrue for big mining farms that have long-term vision as same as act as long-term hodlers.Small and weak miners have to turn off their ASICs and they are main parts of miners capitulation wave.
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I do not think this data is accurate. Bitcoin mining may return to China when the problem of electricity generation in China ends and the laws are less strict, but this does not mean that mining has reached zero.
I agree. It looks to be unrealistic. Even big mining farms completely turn off their ASICs, small or household miners can keep their operations but with them, the biggest issues is they are vulnerable to Bitcoin volatility. We can not verify how much is hashrate from China in recent months but I am sure it is not zero.Quote
China, the United States or anywhere is not as important as the possibility of having a place to make profits from bitcoin with reasonable expenses in electricity, cooling, and the rest of the other expenses.
The United States may now be the leader, but as I told you, as soon as there is a better place the miners will turn.
I would like to see more decentralization of hashrate, and would not like to see it concentrates in the USA. or any country. At least, a more geographical decentralization is better than nothing because it will be less vulnerable to news about crackdown, ie.The United States may now be the leader, but as I told you, as soon as there is a better place the miners will turn.
- Russian Energy Minister Says Miners Should Pay More for Electricity
- It's not a news about crackdown but you can imagine that what will happen if the Russia or USA. announce that they will crackdown Bitcoin mining. It is what I implied about the more geographical decentralization, the better somewhat.
This was supposed to happen. It is china's fault that they have stopped miners from doing their job. The US does not have such strict laws again miners and therefore they are relocating. I do not think the word overtake should be used because there was never a competition. Other countries should have utilized this opportunity of China banning cryptocurrency. There are many countries that do provide cheap electricity and some have large resources of green energy too.
Yes, China banned everything even transactions that Binance p2p was also shutdown.
So why are we not hearing fud about friendly energy anymore from the media about bitcoin mining, Are all Texas miners using renewable energy?
We always hear this in the mainstream media but now that it has shifted we don't care about it anymore. What would the media say when China changes its mind and coming chasing the hash rate again?
This was supposed to happen. It is china's fault that they have stopped miners from doing their job. The US does not have such strict laws again miners and therefore they are relocating. I do not think the word overtake should be used because there was never a competition. Other countries should have utilized this opportunity of China banning cryptocurrency. There are many countries that do provide cheap electricity and some have large resources of green energy too.
I mean it's not hard to overtake someone's position when the party at hand stopped all its operations 
I'd guess China's more serious miners have moved their operations elsewhere, but the majority just stopped working altogether and will probably not resume activities if Chine lifts the bans. And the ones that left, I am guessing Russia was a good option?
I'd guess China's more serious miners have moved their operations elsewhere, but the majority just stopped working altogether and will probably not resume activities if Chine lifts the bans. And the ones that left, I am guessing Russia was a good option? Miners are interested in profit, and that profit comes from many reasons, the most important of which is cheap electricity.
I do not think this data is accurate. Bitcoin mining may return to China when the problem of electricity generation in China ends and the laws are less strict, but this does not mean that mining has reached zero.
China, the United States or anywhere is not as important as the possibility of having a place to make profits from bitcoin with reasonable expenses in electricity, cooling, and the rest of the other expenses.
The United States may now be the leader, but as I told you, as soon as there is a better place the miners will turn.
I do not think this data is accurate. Bitcoin mining may return to China when the problem of electricity generation in China ends and the laws are less strict, but this does not mean that mining has reached zero.
China, the United States or anywhere is not as important as the possibility of having a place to make profits from bitcoin with reasonable expenses in electricity, cooling, and the rest of the other expenses.
The United States may now be the leader, but as I told you, as soon as there is a better place the miners will turn.
When miners are concentrated in a single area, it is unhealthy. The goal of miners is to become as decentralized as possible, it should not become customary for a single country to control the subsidy produced by Bitcoin whenever a new block is issued.
It has also been a nightmare throughout the years since miners always generate FUD when a certain miner's zone is prohibited from operating, this should be avoided.
It has also been a nightmare throughout the years since miners always generate FUD when a certain miner's zone is prohibited from operating, this should be avoided.
China used to be the leading country in bitcoin mining, but since China chose to shut down all mining activities for reasons I don't fully understand, the United States has surpassed China to become the leader country in mining activities, according to the latest news and analysis.
The most of the Miners and Miningfarms from China i guess changed already there locations before the China government decided to ban crypto mining ! Guess they was aware of that is maybe coming , and there also other Countries where they now operating.
The United States may now be the leader, but as I told you, as soon as there is a better place the miners will turn.[/left]
They will be going there where its cheap for them to run there things . Miners are interested in profit, and that profit comes from many reasons, the most important of which is cheap electricity.
I do not think this data is accurate. Bitcoin mining may return to China when the problem of electricity generation in China ends and the laws are less strict, but this does not mean that mining has reached zero.
China, the United States or anywhere is not as important as the possibility of having a place to make profits from bitcoin with reasonable expenses in electricity, cooling, and the rest of the other expenses.
The United States may now be the leader, but as I told you, as soon as there is a better place the miners will turn.
I do not think this data is accurate. Bitcoin mining may return to China when the problem of electricity generation in China ends and the laws are less strict, but this does not mean that mining has reached zero.
China, the United States or anywhere is not as important as the possibility of having a place to make profits from bitcoin with reasonable expenses in electricity, cooling, and the rest of the other expenses.
The United States may now be the leader, but as I told you, as soon as there is a better place the miners will turn.
You can check this out, a topic made by tranthidung that did more of the breakdown in charts
After a few months of China crackdown on mining. Check it out!
What did you expect, this is not overtake because it didn't happened naturally but was the harse rules and regulations from Chinese government. Chinese government banned crypto mining in their country which led to this.
I will also advice you to make more of writing than quoting. Although, not bad to quote in few cases.
After a few months of China crackdown on mining. Check it out!
What did you expect, this is not overtake because it didn't happened naturally but was the harse rules and regulations from Chinese government. Chinese government banned crypto mining in their country which led to this.
I will also advice you to make more of writing than quoting. Although, not bad to quote in few cases.
China used to be the leading country in bitcoin mining, but since China chose to shut down all mining activities for reasons I don't fully understand, the United States has surpassed China to become the leader country in mining activities, according to the latest news and analysis.
Sources link: https://news.bitcoin.com/geographic-distribution-data-shows-us-takes-leading-bitcoin-mining-position-after-chinas-crackdown/
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After China has reigned for a number of consecutive years as the dominant bitcoin mining epicenter of the world, the United States has “taken the leading position in bitcoin mining,” according to new data from Cambridge University.
Data Shows US, Kazakhstan, Russian Federation Rule the Bitcoin Mining Roost
In mid-July, researchers from the Cambridge Bitcoin Electricity Consumption Index (CBECI) project published new data from the website’s “Bitcoin Mining Map,” which had not been updated since April 2020. In that specific report, CBECI researchers noted that China’s hashrate dominance was much lower than in previous estimates. On October 13, CBECI researchers published updated data on all the countries participating in bitcoin mining and where most of the mining activity is taking place these days.
“The latest update to the Cambridge Bitcoin Electricity Consumption Index (CBECI) has confirmed the impact of the Bitcoin mining crackdown in China,” the report detailed. “[It shows] that the leading share of global Bitcoin network hashrate now sits in the US, followed by Kazakhstan and the Russian Federation.” The CBECI researchers added:
China’s Crackdown ‘Increased Geographic Distribution of Hashrate Across the World’
Since June 28, 2021, the Bitcoin network hashrate climbed 101.44% from 69 exahash per second (EH/s) to today’s 139 EH/s hashpower measurement. Michel Rauchs, digital assets lead at the Cambridge Centre for Alternative Finance, discussed how China’s crackdown helped fuel the shift in global bitcoin mining.
“The immediate effect of the government mandated ban on crypto mining in China was a 38% drop in global network hash rate in June 2021 – which corresponds roughly to China’s share of hashrate before the clampdown, suggesting that Chinese miners ceased operations simultaneously,” Rauchs suggested.
Besides the new top three countries leading the hashpower race, the next largest hashrate shares reside in countries like Canada (9.55%), Ireland (4.68%), Malaysia (4.59%), Germany (4.48%), Iran (3.11%), and Norway (0.58%). CBECI’s report highlights that while the U.S. got some hashrate from fleeing Chinese miners, the crackdown also “increased geographic distribution of hashrate across the world.”
“It is worth noting that the shares for Ireland and Germany are likely due to a growing number of miners rerouting through those countries via VPNs or proxy servers, rather than growing mining activity for which there is little or no evidence,” the CBECI report explains.
What’s also interesting is the fact that at least four out of the five top mining pools today originally stem from China and now many of them operate internationally and in unknown regions. F2pool, formally known as “Discus Fish” started mining bitcoin (BTC) on May 5, 2013, and was originally based in China.
F2pool commands 26.76 EH/s in hashpower and around 19.39% of the global hashrate today. Antpool, owned and operated by Bitmain, also initially came from China and is the second-largest hashing pool on October 13. Antpool captures 16.59% of the global hashrate with its 22.89 EH/s of hashpower. There’s also the top mining pools Viabtc and Poolin, which begs the question.
Data Shows US, Kazakhstan, Russian Federation Rule the Bitcoin Mining Roost
In mid-July, researchers from the Cambridge Bitcoin Electricity Consumption Index (CBECI) project published new data from the website’s “Bitcoin Mining Map,” which had not been updated since April 2020. In that specific report, CBECI researchers noted that China’s hashrate dominance was much lower than in previous estimates. On October 13, CBECI researchers published updated data on all the countries participating in bitcoin mining and where most of the mining activity is taking place these days.
“The latest update to the Cambridge Bitcoin Electricity Consumption Index (CBECI) has confirmed the impact of the Bitcoin mining crackdown in China,” the report detailed. “[It shows] that the leading share of global Bitcoin network hashrate now sits in the US, followed by Kazakhstan and the Russian Federation.” The CBECI researchers added:
China’s Crackdown ‘Increased Geographic Distribution of Hashrate Across the World’
Since June 28, 2021, the Bitcoin network hashrate climbed 101.44% from 69 exahash per second (EH/s) to today’s 139 EH/s hashpower measurement. Michel Rauchs, digital assets lead at the Cambridge Centre for Alternative Finance, discussed how China’s crackdown helped fuel the shift in global bitcoin mining.
“The immediate effect of the government mandated ban on crypto mining in China was a 38% drop in global network hash rate in June 2021 – which corresponds roughly to China’s share of hashrate before the clampdown, suggesting that Chinese miners ceased operations simultaneously,” Rauchs suggested.
Besides the new top three countries leading the hashpower race, the next largest hashrate shares reside in countries like Canada (9.55%), Ireland (4.68%), Malaysia (4.59%), Germany (4.48%), Iran (3.11%), and Norway (0.58%). CBECI’s report highlights that while the U.S. got some hashrate from fleeing Chinese miners, the crackdown also “increased geographic distribution of hashrate across the world.”
“It is worth noting that the shares for Ireland and Germany are likely due to a growing number of miners rerouting through those countries via VPNs or proxy servers, rather than growing mining activity for which there is little or no evidence,” the CBECI report explains.
What’s also interesting is the fact that at least four out of the five top mining pools today originally stem from China and now many of them operate internationally and in unknown regions. F2pool, formally known as “Discus Fish” started mining bitcoin (BTC) on May 5, 2013, and was originally based in China.
F2pool commands 26.76 EH/s in hashpower and around 19.39% of the global hashrate today. Antpool, owned and operated by Bitmain, also initially came from China and is the second-largest hashing pool on October 13. Antpool captures 16.59% of the global hashrate with its 22.89 EH/s of hashpower. There’s also the top mining pools Viabtc and Poolin, which begs the question.
Sources link: https://news.bitcoin.com/geographic-distribution-data-shows-us-takes-leading-bitcoin-mining-position-after-chinas-crackdown/
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