Now imagine a magical land where electricity is funnelled from state-owned factories and rigs are just another hidden operating expense. How much does it cost to mine a bitcoin there?
Imagine a land where they have an excess of children, with abacuses, all mining by hand with their abaci.
(they have got dab radio to keep them going powered by geothermal of course)
Just saying the way I see it we will have a constant supply of very cheap coins from China for the forseeable future as no price is too low to sell free coins...
It has been suggested that this is indeed happening in China (I guess it could happen anywhere...). Heck, you work in the IT dept of a state owned industry and plug a few miners into their power supply. Chances of getting caught must be close to zero - just another black box with a fan. You could probably bill them for the mining equipment too
At this point I really can't see any other explanation
