Bitcoin Mining in China ⋆ ZyCrypto

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GBMiners Fastest Bitcoin Mining

GBMiners Fastest Bitcoin Mining is the best live bitcoing mining operation in USA, China, Indonesia, Malaysia, Poland & Europe. Here we want to share what we know about bitcoin mining and increase productivity and bitcoin earnings all around the world with all people.
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Bitcoin Gold

Bitcoin Gold (BTG) is an open-source, community-driven cryptocurrency. We share a codebase and blockchain history with Bitcoin, but bring mining power back to individuals by preventing ASICs from overpowering the hashpool. We're pro-Bitcoin and pro-crypto, and we're here for the long haul!
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Illegal Bitcoin Mining? China Seizes Thousands of ASICs

Illegal Bitcoin Mining? China Seizes Thousands of ASICs submitted by Ranzware to BitNewsLive [link] [comments]

bitcoin mining china

bitcoin mining china submitted by hartukov to u/hartukov [link] [comments]

🆕📢Concentration of Bitcoin Mining in China is worrisome☑️

🆕📢Concentration of Bitcoin Mining in China is worrisome☑️
China, a technically inclined nation known for its massive workforce has made its intention of world domination quite clear. The world's most populated state has grown faster than any other country in the last few decades.
#BitcoinMining #China #CZbinance #cryptonews #crypto

China Bitcoin
👉👀https://www.cryptoknowmics.com/news/concentration-of-bitcoin-mining-in-china-is-worrisome
submitted by cryptoknowmics to ckm_official [link] [comments]

🆕📢Concentration of Bitcoin Mining in China is worrisome☑️

🆕📢Concentration of Bitcoin Mining in China is worrisome☑️
China, a technically inclined nation known for its massive workforce has made its intention of world domination quite clear. The world's most populated state has grown faster than any other country in the last few decades.
#BitcoinMining #China #CZbinance #cryptonews #crypto

China Bitcoin
👉👀https://www.cryptoknowmics.com/news/concentration-of-bitcoin-mining-in-china-is-worrisome
submitted by cryptoknowmics to Crypto_store [link] [comments]

4 mining pools that are all based in China control over 50% of bitcoins hashrate.

4 mining pools that are all based in China control over 50% of bitcoins hashrate. submitted by olihowells to CryptoCurrency [link] [comments]

China is responsible for 50% of Bitcoin’s mining, followed by the U.S. with 14% and Russia with 8%

China is responsible for 50% of Bitcoin’s mining, followed by the U.S. with 14% and Russia with 8% submitted by MK333666 to Bitcoin [link] [comments]

70% of bitcoin mining is done in China, and they call Ethereum centralized

70% of bitcoin mining is done in China, and they call Ethereum centralized submitted by litpath to ethtrader [link] [comments]

The Sun Never Sets On Bitcoin Mining: Decentralization Continues As China Flounders

The Sun Never Sets On Bitcoin Mining: Decentralization Continues As China Flounders submitted by a36 to AllThingsCrypto [link] [comments]

A team affiliated with the University of Cambridge has released a new bitcoin data tool showing the countries with the highest concentration of mining activity. On a global scale, the map shows China making up 65% of total global hashrate, with the U.S. and Russia back on 7%.

A team affiliated with the University of Cambridge has released a new bitcoin data tool showing the countries with the highest concentration of mining activity. On a global scale, the map shows China making up 65% of total global hashrate, with the U.S. and Russia back on 7%. submitted by wnuins to CryptoCurrency [link] [comments]

Bitcoin Mining Pools Record Hash Rate Drop Amid Rainstorms in China

Bitcoin Mining Pools Record Hash Rate Drop Amid Rainstorms in China submitted by nanooverbtc to CryptoCurrency [link] [comments]

Recognizing Revolutionary Potential, China Encourages Bitcoin Mining In Sichuan

Recognizing Revolutionary Potential, China Encourages Bitcoin Mining In Sichuan submitted by DISANews to StonkFeed [link] [comments]

US bitcoin mining farm buys 17,600 miners from China-owned Bitmain as talks of a global hash war surface.

submitted by WaggishNickel to Bitcoin [link] [comments]

Bitcoin Mining Hashrate and Power Analysis - only 50% of mining hashpower is in China currently

Bitcoin Mining Hashrate and Power Analysis - only 50% of mining hashpower is in China currently submitted by SandwichOfEarl to Bitcoin [link] [comments]

If Bitcoin's price drops to under $6925, it would not be profitable to mine for Chinese Miners.

According to this article and to Sophie Lu, an analyst for Bloomberg New Energy Finance (BNEF), as long as the cryptocurrency is worth more than $6,925, CHINESE miners will still make money. If mining in Venezuela, the price could be effectively zero and it would still be profitable.
What do you think would happen if the price stabilizes under that value? Would miners start turning off their machines, eventually leading to less Proof of Work done, increasing the number of unconfirmed transactions, and causing the difficulty to eventually lower in a few weeks?
submitted by Harucifer to CryptoCurrency [link] [comments]

China is responsible for 50% of Bitcoin's mining, followed by the U.S. with 14% and Russia with 8%

China is responsible for 50% of Bitcoin's mining, followed by the U.S. with 14% and Russia with 8% submitted by DonnieBrast to btc [link] [comments]

Bitcoin mining farms in China's Inner Mongolia region are set to face higher electricity prices after a government crackdown

Bitcoin mining farms in China's Inner Mongolia region are set to face higher electricity prices after a government crackdown submitted by Qwahzi to CryptoCurrency [link] [comments]

Bitcoin mining farms in China's Inner Mongolia region are set to face higher electricity prices after a government crackdown (x-post from /r/cryptocurrency)

Bitcoin mining farms in China's Inner Mongolia region are set to face higher electricity prices after a government crackdown (x-post from /cryptocurrency) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Bitcoin mining (most likely) faces no threat from China, here’s why

Bitcoin mining (most likely) faces no threat from China, here’s why submitted by pale_blue_dots to CryptoCurrency [link] [comments]

Top Bitcoin Mining Pools See 15% Hashrate Drop Amid Continuous Rainstorms in China

Major Chinese bitcoin mining pools are each seeing daily hashrate drops of between 10% and 20% following continuous rainstorms in Sichuan.
China’s southwestern Sichuan province, a mountainous region that is estimated to have over 50% of Bitcoin network’s total computing power, has been hit by heavy rainstorms since last week, which peaked over the last two days.
The heavy rainstorms have caused electricity outages in parts of the region as hydro-plants stop generating power to help discharge the floods. Some counties are also experiencing telecommunication and internet breakdowns, said Kevin Pan, CEO and co-founder of PoolIn.
As result, impacted bitcoin mining farms in the region are forced to unplug from the network for the time being. It’s not clear when the situation will prove as the rainstorms are still ongoing.
Data from BTC.com shows the world’s top four bitcoin mining pools – that is PoolIn, F2Pool, BTC.com and Antpool, all based in China – have each seen their hashrates drop between 10% and 20% over the last 24 hours. The computing power connected to these four pools accounts for around 50% of the Bitcoin network’s total.
submitted by ami_nil1987 to DigitalCryptoWorld [link] [comments]

China Floods 2020 affecting Bitcoin Mining

The current ongoing monsoon season has created havoc within the province of Sichuan as the continuous outpour has led to a decline in the bitcoin hash rate. In the last couple of days, this decline led to its peak, on an average of 15 percent drop in daily hash rates.
submitted by Selina_Mary to BitcoinMining [link] [comments]

Bitcoin Risks #Mining Death Spiral If #BTC Price Plunges Below $3K

Bitcoin Risks #Mining Death Spiral If #BTC Price Plunges Below $3K

https://preview.redd.it/yvsa576z0y021.jpg?width=1080&format=pjpg&auto=webp&s=4f508b7fb1ae7b5a725d67d92b8deba66ca815eb
Bitcoin slid even further downhill this weekend, as the crypto market shed a total $17bn in market capitalization. But the problems might be just the beginning, as further drops threaten to cause a domino effect in the incentives that keep mining networks running.
The danger was first suggested in a tweet by Colin LeMahieu, Nano’s lead developer:
“It’s not a fatal flaw though it is a bad user experience,” LeMahieu told Crypto Briefing in an email. “The issue comes when there are large swings in price.” When prices drop suddenly, he explained, transactions get slower.
The most severe consequences of these downward pressures have yet to be felt, as mining is still profitable in countries with cheaper energy. However, that may change if prices continue to fall—and miners start to worry about their power bills.

The Mining Spiral

Here’s how falling prices could affect the fundamentals of the Bitcoin network.
Although block mining is often regarded as a cryptographic “puzzle,” it might be better regarded as a game of darts, with each miner throwing blindly until someone hits a bullseye and claims the prize. Every two weeks, the Bitcoin network makes the target larger or smaller, to ensure that someone scores about every ten minutes.
These consensus changes work fairly smoothly in the long run, but they run into trouble when there are sudden changes in the number of players—or the value of the prize. A sudden drop in the value of block rewards might cause some Norwegian or Chinese dart-throwers to drop out of the game, leaving only a handful of players aiming at the same tiny target until the next difficulty adjustment.
But a drop in miners can compound problems further, since it now takes fourteen or fifteen minutes to mine a ten-minute block. Since the interval between difficulty adjustments is measured in block times, that two-week period could become three weeks or even longer.
Then prices drop even further, as Bitcoin users and merchants give up on a currency which has inconsistent and unpredictable transaction times—causing further price drops, and more miners to quit, thereby making transaction times take even longer.

These problems aren’t just theoretical. The initial fork of Bitcoin Cash was marred by several hundred-minute blocks as the new network struggled under the previous high difficulty levels.

$3,000: Bitcoin’s Event Horizon

Despite the most recent sell-off, mining is still (barely) profitable in some wholesale energy markets. But even those profits are starting to thin, with reports of some mining installations selling their ASIC equipment “by the kilo.”

The sell-offs are likely to continue if Bitcoin prices sink past $3,000 USD – the average price of producing one bitcoin in China, where 74% of all mining occurs.
Hashrates have been slumping since October, and block times consistently exceeded ten minutes over the past month – even after a difficulty reduction on November 17th.

What Next?

It’s not quite clear how far the downward cascade could bring the price of Bitcoin. In the long run, of course, hashing power and difficulty levels would both sink until they reached an equilibrium, with rewards just high enough to sustain the remaining miners.
But in the short term it would likely deepen and protract the ongoing crypto recession, as the problems in the transaction network highlight the uncertainties of cryptocurrency transactions. For those paid in cryptocurrency–or who rely on it for cross-border remittances– it might become more attractive to go with Western Union after all.
That wouldn’t be the end of crypto, or even of Bitcoin. But it would cause quite a bit of hodler’s remorse, and justify some of the skepticism against cryptocurrency’s ability to survive as an economic system.
It would also throw a wrench into the fundamentals of the network, which has only started to assert its viability as a payment system. Depending on how big the wrench is, the engine might take a long time to fix.
submitted by iTradeBit to bitcoin_crypto [link] [comments]

12-04 11:43 - 'Going Green:78% of Bitcoin miners use excess renewable energy and do not harm the environment' (self.Bitcoin) by /u/cxihub removed from /r/Bitcoin within 7-17min

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Climate change has been an ongoing problem everywhere and fingers have been pointed at Bitcoin miners and blaming them for their enormous consumption of energy. However according to Coinshares this is not accurate at all. Coinshares recently released a 19 page report “The Bitcoin Mining Network- Trends, Marginal Creation Cost, Electricity Consumption and Recourses.” It examines and scrutinizes geographical distribution and electricity consumption and sources of the network of Bitcoin mining.
According to the report around 78% of Bitcoin miners actually use renewable energy for their operations. [Cryptocurrency]1 miners use renewable energy such as hydropower that makes it “greener than almost every other large scale industry in the world.” They have been able to make this assumption and report by studying China which contributes to 60% of the world’s Bitcoin mining. China’s large scale investment in the energy department has led to operators refusing to accept surplus renewable energy.
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Going Green:78% of Bitcoin miners use excess renewable energy and do not harm the environment
Go1dfish undelete link
unreddit undelete link
Author: cxihub
1: *log.cxihub.com*ca*ego*y*cr*pto*urre**y* 2: i.r*dd.*t/b99hwo**x82*1*jp*
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Bitcoin mine China (2 minutes) China Bitcoin Mining Inside a Secret Chinese Bitcoin Mine - YouTube China Bitcoin Mining Farm Tour GO GATORS 🐊 - YouTube We looked inside a secret Chinese bitcoin mine - YouTube

Bitcoin Mining Is Decentralizing. China still dominates the bitcoin mining space, although the percentage of the hash rate coming from the country has dropped recently, from around 65 percent in early 2020 to about 50 percent more recently as Chinese mining farms are weathering a particularly difficult monsoon season and the government is ... China is the undisputed world leader in Bitcoin mining. Chinese mining pools control more than 60% of the Bitcoin network’s collective hashrate.. Not only does China manufacture most of the world’s mining equipment, but massive mining farms are located there to take advantage of extremely cheap electricity prices.. Estimated Hashing Power by Country In life, they say that you can only rely on death and taxes. While this may be true, I’d like to propose a third: that China will always be the Bitcoin mining capital of the world. In fact, it controls up to 80% of the world’s total hash rate, is responsible for manufacturing the vast majority of mining equipment and is home to some of the world’s largest mining farms. A December 2019 report from CoinShares research studied changes in bitcoin’s hashrate — essentially a measure of bitcoin mining activity. They found enormous activity in China, more than ever ... In May, research from University of Cambridge revealed China, where bitcoin mining pools have prospered thanks to cheap, renewable electricity, accounts for 65% of the bitcoin network's computing ...

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Bitcoin mine China (2 minutes)

How Much Can You Make Mining Bitcoin With 6X 1080 Ti Beginners Guide ... How Much? 1,664,399 views. 19:20. How Bitcoin in China Is Subverting the System - Duration: 22:17. China Uncensored ... Official Tour of Bitcoin Mining Operations by Akminer.com Bitcoin mines like this makeshift operation located in Northeast China are what keep the bitcoin network up and running. Motherboard will visit the secretive... In China, savvy entrepreneurs are making millions a year by mining bitcoin. Danny Vincent visited one of the worldÕs biggest facilities of its kind to film the activity and people within. Detail: https://goo.gl/1dk2l1

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