Op-Ed: China's Mining Subsidies Create Tension With Free Trade Rules
If the only tool you have is a hammer, it's tempting to treat everything as a nail. Thus, most people in the technically-oriented Bitcoin community treat the specter of mining centralization as a problem to be solved chiefly by technical means. However, a substantial cause of mining centralization is Chinese government policy, which distorts the digital....
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As the price of Bitcoin is climbing slowly, a compromise may have to be reached in the face of the unfolding situation between a Donald Trump-led US and China for the earlier projected $2,000 price range for Bitcoin in 2017 not to be just a starter in months to come. A looming trade war between the two countries would favor Bitcoin. However, the extent to which the war would last will only be determined by which of the leaders of the two biggest economies in the world to back down first on their policy statements. Another considered scenario could be that the US would make efforts to....
China’s crackdown on crypto mining could see offenders blacklisted from basic social and financial services if caught. China has ramped up efforts to quash cryptocurrency mining in its Inner Mongolia region by introducing new penalties for those caught engaging in the illegal activity. Officials unveiled new draft rules that would see harsher punishments applied to those caught mining Bitcoin (BTC) and other cryptocurrencies, per a report by the South China Morning Post. These would include placing offenders on a social credit blacklist, which would stop them from getting loans or even....
Bitcoin mining took a big hit when the Chinese authorities commenced a crackdown on crypto mining. This had led to an exodus of miners out of China. Which had been the world’s headquarters of mining at the time. Over 70% of the entire mining in the world is carried out in China before the crackdown […]
Uber reported losses of over $1.2 billion during the first six months of 2016, indicating a changing ridesharing landscape. This massive shortfall, according to Uber’s head of finance Gautam Gupta, is caused by driver subsidies. In an effort to maintain its top position while still offering competitive pricing to customers, the ridesharing giant has reportedly spent at least $1 billion in China alone in subsidies for drivers. Investor speculation concludes that Uber is pursuing a “grow first, ask questions later” model, seeking to secure total market dominance before pivoting to....
The Zapala Free Zone, an area located in Neuquen, Argentina that has the objective of incentivizing various productive activities, will receive its first bitcoin mining-related investment this year. The company that will create the power infrastructure for the mining farm aims to generate more than 114 MW of power for mining operations in the first year.
Zapala Free Zone Gets Into Bitcoin Mining
Zapala, a free trade zone in the province of Neuquen in Argentina, will get its first bitcoin mining-related investment. For the year 2023, the zone aims to have an installed capacity of....