11–20 of 325 posts
So instead the media told that it's a revolution with blockchain, they should tell people that: BTC is also a game, a trading game, keep yourself at risk before pouring your money into it.
Because they finally realized everyone is using bitcoin to exfiltrate currency?
More like they are using cheap subsidized Chinese power prices for something that they weren’t intended for. It’s more of an environmental play (since a lot of that electricity is produced by dirty coal burning).
That being said, I just found https://www.coindesk.com/norway-ends-power-tax-subsidy-for-b..., which makes me wonder if current prices would be able to support mining there. Also, at least part of Washington State is interested: https://www.bendbulletin.com/business/6853387-151/central-wa...
This will probably crush Bitmain and other Chinese bitcoin mining giants and they will probably move elsewhere, however Chinese courts have said bitcoin itself is legally allowed. Probably what is going to happen is that you can own but you can't mine or even obtain more bitcoins in China. https://www.ccn.com/chinas-merchants-are-legally-allowed-to-...
Bitmain makes huge margins on selling equipment, not mining. They make shovels in the gold rush.
Source, their IPO documents: https://techcrunch.com/2018/09/26/bitmain-hong-kong-ipo/
Earlier quoted context omitted.
More like they are using cheap subsidized Chinese power prices for something that they weren’t intended for. It’s more of an environmental play (since a lot of that electricity is produced by dirty coal burning).
Funny that they care about the environmental effects when the end result is something they have little control over, less so when it's a state-run or state-affiliated business
This will probably crush Bitmain and other Chinese bitcoin mining giants and they will probably move elsewhere, however Chinese courts have said bitcoin itself is legally allowed. Probably what is going to happen is that you can own but you can't mine or even obtain more bitcoins in China. https://www.ccn.com/chinas-merchants-are-legally-allowed-to-...
Bitmain makes huge margins on selling equipment, not mining. They make shovels in the gold rush.
From an energy-consumption standpoint, I'm not too surprised at this. They have better uses for their mostly-non-renewable power generation. This will probably continue the push towards bitcoin mining in places with stable renewables (like hydro and geothermal). That being said, I just found https://www.coindesk.com/norway-ends-power-tax-subsidy-for-b... , which makes me wonder if current prices would be able to supp…
Earlier quoted context omitted.
More like they are using cheap subsidized Chinese power prices for something that they weren’t intended for. It’s more of an environmental play (since a lot of that electricity is produced by dirty coal burning).
Funny that they care about the environmental effects when the end result is something they have little control over, less so when it's a state-run or state-affiliated business
Earlier quoted context omitted.
More like they are using cheap subsidized Chinese power prices for something that they weren’t intended for. It’s more of an environmental play (since a lot of that electricity is produced by dirty coal burning).
Funny that they care about the environmental effects when the end result is something they have little control over, less so when it's a state-run or state-affiliated business