Topic: Which country has the highest percentage of miners? - page 4. (Read 3316 times)
Per capita, it's the Netherlands (by far!)
In my opinion, although the largest proportion of the mining hash-power is from China, the largest number of individual miners might be from the United States of America. In China, they mostly have giant-sized farms employing thousands of rigs, compared to more medium-sized and individually-run mining farms in the United States.
Which is kind of Ironic, considering the very bad average electricity cost from Americans. But you can see with the node spread graphic map that there is a lot of activity in North America, and most of those places have high electricity cost.
Sound like a lot of American are making poor investments just because of how awesome BTC is~
I believe all that to be true, however, the hashrate that Americans connect to their node, and they do, is sadly running on pretty expensive electricity. Quite a few mentioned running their whole farm on 0.09 because "Thats a pretty good price". Seem a bit short sighted but i guess there's worse out there.
In my opinion, although the largest proportion of the mining hash-power is from China, the largest number of individual miners might be from the United States of America. In China, they mostly have giant-sized farms employing thousands of rigs, compared to more medium-sized and individually-run mining farms in the United States.
Which is kind of Ironic, considering the very bad average electricity cost from Americans. But you can see with the node spread graphic map that there is a lot of activity in North America, and most of those places have high electricity cost.
Sound like a lot of American are making poor investments just because of how awesome BTC is~
Even I believe that China has the highest percentage of miners as they have huge population who are tech savvy, I might be wrong also.
Pretty sure BRAZIL should be the leader if the taxes weren soo high as 50% more of product value,reaching sometimes 100% ,why im saying those because energy painels where else is soo many sun all days? But China is leading with the big miners presence being there.
But solar energy ain't that cheap, the battery for a year for a kWh is about 400$ too. Then the infrastructure, the panels, the people that need to maintain it... Its not a 24/7 things. You can use solar panel to cut down on usage during the day but to run around the clock you need energy storage and that doesn't work well in costs.
Pretty sure BRAZIL should be the leader if the taxes weren soo high as 50% more of product value,reaching sometimes 100% ,why im saying those because energy painels where else is soo many sun all days? But China is leading with the big miners presence being there.
In my opinion, although the largest proportion of the mining hash-power is from China, the largest number of individual miners might be from the United States of America. In China, they mostly have giant-sized farms employing thousands of rigs, compared to more medium-sized and individually-run mining farms in the United States.
Which is kind of Ironic, considering the very bad average electricity cost from Americans. But you can see with the node spread graphic map that there is a lot of activity in North America, and most of those places have high electricity cost.
Sound like a lot of American are making poor investments just because of how awesome BTC is~
In my opinion, although the largest proportion of the mining hash-power is from China, the largest number of individual miners might be from the United States of America. In China, they mostly have giant-sized farms employing thousands of rigs, compared to more medium-sized and individually-run mining farms in the United States.
There have been some farms surfacing in Iceland lately. I guess that they use their thermal waters for electricity production and also there is no much need for cooling up there since it's very cold anyways.
Yes. Having computers working on cold weather saves a lot.
And it doesn't make sense for Chinese's pool, nodes and network to try to cut off.
not connected to the world = useless BTC.
not connected to the world = useless BTC.
Pool owners and miners don't want that, but the great firewall of China might do that. They have no strong reason to block bitcoin mining now, but the Government can do that if they wanted to.
Although largest pools are Chinese, I believe (hope) a large portion of the hashing power is from outside china. Global miners are sending hashes to them because they are large pools. Large mining farms are best located in locations with cheap electricity. According to the wiki (here), there are many countries with similar low electricity costs.
Can this affect the network in any way?
China.
Wherever there is a cheap electricity. China is not the only country with cheap electricity in this world. Although China holds a lot of miners and a lot of hashing power, this can't be denied.
There have been some farms surfacing in Iceland lately. I guess that they use their thermal waters for electricity production and also there is no much need for cooling up there since it's very cold anyways.
There have been some farms surfacing in Iceland lately. I guess that they use their thermal waters for electricity production and also there is no much need for cooling up there since it's very cold anyways.
And it doesn't make sense for Chinese's pool, nodes and network to try to cut off.
not connected to the world = useless BTC.
not connected to the world = useless BTC.
Pool owners and miners don't want that, but the great firewall of China might do that. They have no strong reason to block bitcoin mining now, but the Government can do that if they wanted to.
Although largest pools are Chinese, I believe (hope) a large portion of the hashing power is from outside china. Global miners are sending hashes to them because they are large pools. Large mining farms are best located in locations with cheap electricity. According to the wiki (here), there are many countries with similar low electricity costs.
Can this affect the network in any way?
Most of the hashrate is in china. If china were to someone block the miners from connecting to the network, that could be disastrous since we would be losing over half of the hashrateDoesn't that seem strange? Shouldn't a Communist state like China make the BTC illegal in the first place? The good news is they are approaching to the Capitalism more and more and before this government makes the BTC illegal most likely it will be replaced by a more liberal one.
where else could it be other than satoshi's breed loll.
the big 4 are of CHINA ....contributing the majority.
the big 4 are of CHINA ....contributing the majority.
I don't know which country.But my neighbors doesn't lemme sleep.They keep there miners on 24/7 LOL
Look at this pool stats: https://blockchain.info/pools
the biggest pool is https://www.f2pool.com
china is dominate of bitcoin miners, maybe because they have free electric bills.
the biggest pool is https://www.f2pool.com
china is dominate of bitcoin miners, maybe because they have free electric bills.
china is holding 60%* more, last time i've checked, and i'm fairly sure that this isn't good at all, some problems may arise with this situation in the future
if for some reason the mining will not be profitable, they will be forced to leave or attack the network, as a last chance to take profit
where other miners will simply leave
if for some reason the mining will not be profitable, they will be forced to leave or attack the network, as a last chance to take profit
where other miners will simply leave
In my opinion china is the largest country in the percentage of miners because of the availability of the resources like the most important one that is electricity. There is a city in china where the cost of electricity is very low hence there is a very largest mining facility for bitcoin.
Can this affect the network in any way?
Highest percentage of what? Percentage of actual people mining or percentage of the mining effort?
My guess is also China. It's a very cheap place to conduct large mining operations and is relatively unregulated. You should ask this question over in the mining board of this forum.
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