The article ends weirdly abruptly: > It should also be noted that a mining difficult adjustment ... what?
Crazy. Wondering why they got cut off? Here is more info https://ca.finance.yahoo.com/news/bitcoin-mining-pool-hashra...
Bitcoin mining hash rate drops as blackouts instituted in China
11–20 of 431 posts
Re: Bitcoin mining hash rate drops as blackouts instituted in China
#12> the National Mine Safety Supervision Bureau has reported three recent coal mine accidents, including an April 10 “water penetration accident” in Xinjiang that caused 21 people to be trapped. > Significantly, the Xinjiang and Sichuan regions of China combined account for more than 50 percent of the overall Bitcoin mining hash rate This is horrific on so many levels, I’m not even sure where to begin. My heart goes ou…
>My heart goes out for those poor miners slaving away for... what? coal?
... to appease Germany's environmentalists who saw shutting down working nuclear plants as a major win.
(Yes, I know it's a different source of coal. But energy, in the age of oil tankers and thousand-mile pipelines, is fungible.)
Re: Bitcoin mining hash rate drops as blackouts instituted in China
#13Earlier quoted context omitted.
> those poor miners slaving away for... what? Bitcoin, apparently.
Where does it say bitcoin? The quote: >three recent coal mine accidents, [...] that caused 21 people to be trapped.
There are a few steps in between, but if the chain of events really is: coal mine accidents > coal shortage > power blackouts > drop in bitcoin mining, then the end result is effectively they were indeed slaving away for bitcoin.
Re: Bitcoin mining hash rate drops as blackouts instituted in China
#14> Significantly, the Xinjiang and Sichuan regions of China combined account for more than 50 percent of the overall Bitcoin mining hash rate
I don't get it, doesn't this effectively mean China can force a 51% attack by just strongarming the pools that operate there?
Re: Bitcoin mining hash rate drops as blackouts instituted in China
#15> Significantly, the Xinjiang and Sichuan regions of China combined account for more than 50 percent of the overall Bitcoin mining hash rate I don't get it, doesn't this effectively mean China can force a 51% attack by just strongarming the pools that operate there?
Yes.
Re: Bitcoin mining hash rate drops as blackouts instituted in China
#16Earlier quoted context omitted.
>My heart goes out for those poor miners slaving away for... what? coal?
... to appease Germany's environmentalists who saw shutting down working nuclear plants as a major win. (Yes, I know it's a different source of coal. But energy, in the age of oil tankers and thousand-mile pipelines, is fungible.)
No. Literally Germany's coal is specifically because its their own coal, a natural resource within their own borders they control. For national security, they maintain a coal capacity. Germany's coal burning is national security, nothing to do with environmentalists.
Re: Bitcoin mining hash rate drops as blackouts instituted in China
#17Earlier quoted context omitted.
... to appease Germany's environmentalists who saw shutting down working nuclear plants as a major win. (Yes, I know it's a different source of coal. But energy, in the age of oil tankers and thousand-mile pipelines, is fungible.)
No. Literally Germany's coal is specifically because its their own coal, a natural resource within their own borders they control. For national security, they maintain a coal capacity. Germany's coal burning is national security, nothing to do with environmentalists.
Arguments about Germany's energy independence would be far more compelling if they were not, for example, currently building giant pipelines to import Russian natural gas.
Re: Bitcoin mining hash rate drops as blackouts instituted in China
#18Earlier quoted context omitted.
Where does it say bitcoin? The quote: >three recent coal mine accidents, [...] that caused 21 people to be trapped.
There are a few steps in between, but if the chain of events really is: coal mine accidents > coal shortage > power blackouts > drop in bitcoin mining, then the end result is effectively they were indeed slaving away for bitcoin.
I think you got cause and effect reversed. The correct chain of events is: coal miners slave away to produce coal, which is generally burned to produce heat. Part of that heat is used to run turbines to electric generators[1], and part of the generated electricity is used for bitcoin mining. Does this mean they're slaving away for bitcoin mining? I guess, but only partially. Saying they're slaving away for bitcoin mining is as correct as saying they're slaving away for steel smelting.
[1] there are other uses, like for cooking or for heating a house
Re: Bitcoin mining hash rate drops as blackouts instituted in China
#19Earlier quoted context omitted.
... to appease Germany's environmentalists who saw shutting down working nuclear plants as a major win. (Yes, I know it's a different source of coal. But energy, in the age of oil tankers and thousand-mile pipelines, is fungible.)
No. Literally Germany's coal is specifically because its their own coal, a natural resource within their own borders they control. For national security, they maintain a coal capacity. Germany's coal burning is national security, nothing to do with environmentalists.
About a third of the coal burned in germany is imported
Re: Bitcoin mining hash rate drops as blackouts instituted in China
#20Earlier quoted context omitted.
... to appease Germany's environmentalists who saw shutting down working nuclear plants as a major win. (Yes, I know it's a different source of coal. But energy, in the age of oil tankers and thousand-mile pipelines, is fungible.)
No. Literally Germany's coal is specifically because its their own coal, a natural resource within their own borders they control. For national security, they maintain a coal capacity. Germany's coal burning is national security, nothing to do with environmentalists.
National Security. Really?!
So you use up a limited resource during peace times to have less of it during war times? Is that your logic?