Kazakh government resigns, shuts down internet amid protests, causing Bitcoin...
No timeline exists as to when the internet will switch back on in the second-biggest Bitcoin mining country in the world. On Wednesday, Kazakhstan, the second-largest country in the world when it comes to Bitcoin (BTC) mining hash rate, experienced unprecedented political unrest due to a sharp rise in fuel prices. As a result, the country's presiding cabinet resigned, but not before the state-owned Kazakhtelecom shut down the nation's internet, causing network activity to plunge to 2% of daily heights.The move dealt a severe blow to Bitcoin mining activity in the country. As per data....
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The government of Kazakhstan shut down the internet after the cabinet resigned amid major anti-government protests. Kazakhstan, which boasts the second-largest (BTC) mining hash rate in the world, is experiencing major internet disruptions amid local anti-government protests.Network data provider NetBlocks reported Wednesday that Kazakhstan was “in the midst of a nation-scale internet blackout after a day of mobile internet disruptions and partial restrictions.” According to the data, the normalized network connectivity in Kazakhstan fell to 2% on Wednesday.“The incident is likely to....
Measures imposed by authorities to quell mass protests in mining hotspot Kazakhstan are affecting cryptocurrency markets and the Bitcoin network hashrate. To deal with the civil unrest caused by rising fuel prices and a worsening economy, the government restricted access to the internet and closed down local banks. Fears are rising that the turmoil may spark another major migration of miners now that some are already leaving the country, which also faces power shortages. Government Takes Country Offline as Protests Rage in Major Cities, Russia Sends Troops Thousands of Kazakhstanis took....
Nigerians are protesting police corruption and concerns about a possible internet shutdown have driven some to adopt decentralized VPNs like Mysterium.
As the Bitcoin mining industry matures, it will seek stable political environments and stable energy sources. Deputy for the Spanish Ciudadanos political party María Muñoz has proposed a bill to make Spain a Bitcoin mining hotspot following the internet shutdown that caused a mining outage in Kazakhstan.The lawyer and economist Muñoz was steadfast in her support of Spain as a Bitcoin (BTC) destination, in a tweet on Friday: “The protests in Kazakhstan have repercussions all around the world but also for Bitcoin. We propose that Spain positions itself as a safe destination for investments....
The phenomenal recovery of the mining hash rate for BTC goes to show how resilient the network and its community are to world events. Considering that Bitcoin (BTC) is a blockchain network that uses a proof-of-work (PoW) consensus mechanism, miners are a highly significant part of the market dynamics of the network and the community itself. On Jan. 5, it was revealed that Kazakhstan shut down its internet services due to unprecedented political unrest sparked by rising fuel prices in the country.The protests in Kazakhstan began on Jan. 2 in the town of Zhanaozen to fight against the....