What is YOUR point on this? hehe China has always had the largest miner concentrations, whether it was legal or not or even if legality is the issue!! But you must have missed the last few years of news that miners moved out. Those that remain are under the radar.
That is just called economics. You go where the cost is the cheapest. And regulations can be expensive to avoid.
Topic: what you think about china in terms of cryptocurrency and mining process - page 3. (Read 440 times)
March 28, 2023, 03:38:28 AM
March 28, 2023, 03:30:35 AM
China was main mining center in the past but it has put a complete ban on bitcoin mining which has lead to hashrate distribution across the globe and now China is no longer biggest player.You can check this article for more details : https://worldpopulationreview.com/country-rankings/bitcoin-mining-by-country
Moreover Mining is a process through which new coins come into circulation not confirming the transactions and whenever a block is found the transactions are added in that block in blockchain of which the transaction fees goes to miner along with the block rewards.
Quote
United States: 35.4%
Kazakhstan: 18.1%
Russia: 11.23%
Canada: 9.55%
Ireland: 4.68%
Malaysia: 4.58%
Germany: 4.48%
Iran: 3.1
Kazakhstan: 18.1%
Russia: 11.23%
Canada: 9.55%
Ireland: 4.68%
Malaysia: 4.58%
Germany: 4.48%
Iran: 3.1
Moreover Mining is a process through which new coins come into circulation not confirming the transactions and whenever a block is found the transactions are added in that block in blockchain of which the transaction fees goes to miner along with the block rewards.
Lol, I never thought that Kazakhstan is mining more than Russia and Canada. The more you know.
March 28, 2023, 03:21:34 AM
Yes china is not the largest bitcoin miners anymore, their government put a heavy ban on crypto mining and many asic miners were destroyed, that's after putting up a warning message that all miners should stop mining with immediate effect and some went underground, they are later apprehended, some went to prison because they failed to follow the instruction. I have two families in China and they always give me updates on what is happening in China pertaining the mining issue, many Chinese people start selling off their graphic cards and Asic miners, that was how I helped someone to get some graphic cards for cheap price before Ethereum dumped proof of work.
March 28, 2023, 02:01:06 AM
China is the world’s largest producer of bitcoin mining. There are 6 major mining farms in china presently that produce 60 % of bitcoin supply all around the world!
After China cracked down Bitcoin mining in , total country shares of China dropped a lot.In Jan 2022, Mainland China contributes 21.1%, USA (37.8%), Kazakhstan (13.2%) and I am sure that from 2022 to 2023, mining activities increase in the USA. and other nations more than in China.
Mining map (CBECI). Don't know why they don't keep it updated.
Bitcoin mining by country 2023
Quote
United States: 35.4%
Kazakhstan: 18.1%
Russia: 11.23%
Canada: 9.55%
Ireland: 4.68%
Malaysia: 4.58%
Germany: 4.48%
Iran: 3.1%
Kazakhstan: 18.1%
Russia: 11.23%
Canada: 9.55%
Ireland: 4.68%
Malaysia: 4.58%
Germany: 4.48%
Iran: 3.1%
Data can be not very correct with disappearance of mining pools from China but I am sure 60% is not correct.
March 28, 2023, 01:55:13 AM
China was main mining center in the past but it has put a complete ban on bitcoin mining which has lead to hashrate distribution across the globe and now China is no longer biggest player.You can check this article for more details : https://worldpopulationreview.com/country-rankings/bitcoin-mining-by-country
Moreover Mining is a process through which new coins come into circulation not confirming the transactions and whenever a block is found the transactions are added in that block in blockchain of which the transaction fees goes to miner along with the block rewards.
Quote
United States: 35.4%
Kazakhstan: 18.1%
Russia: 11.23%
Canada: 9.55%
Ireland: 4.68%
Malaysia: 4.58%
Germany: 4.48%
Iran: 3.1
Kazakhstan: 18.1%
Russia: 11.23%
Canada: 9.55%
Ireland: 4.68%
Malaysia: 4.58%
Germany: 4.48%
Iran: 3.1
Moreover Mining is a process through which new coins come into circulation not confirming the transactions and whenever a block is found the transactions are added in that block in blockchain of which the transaction fees goes to miner along with the block rewards.
March 28, 2023, 01:45:15 AM
At a time china is the largest cryptocurrency miner. what you think of china and its mining process let's discuss!
Jump to: