Bye-Bye China FUD: US Takes Over Bitcoin Mining
China’s crackdown on bitcoin and crypto mining has been a pain point for the market this year. The country which had decided to excise its regions of bitcoin mining operations had caused major FUD which dragged the market down with it. Bitcoin price had staggered following the exodus of miners out of the country known […]
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PRESS RELEASE. Since May 30, the BTC mining difficulty has lowered for 4 times in a row. The mining rig migration is continuing, leading to a surge of incomes in mining farms outside China. With early layout of mining farms outside China, BitFuFu takes the lead to restart running plan and restock new mining plans. As the first cloud mining platform that restarts running plan in the industry, BitFuFu provides users with a mining feast from a drop of difficulty. Early move makes BitFuFu the industry-first platform to restart running plan Thanks to its forward-looking layout in the mining....
The Bitcoin mining community, a very valuable and powerful association, always seems to have this “elephant in the room.” This elephant would happen to be the massive stranglehold that China has over the globe’s total Bitcoin production. Very few have seen this as a positive development within the spectrum of Bitcoin. This has been a constant source of consternation inside and outside of the Bitcoin mining community since the aforementioned evidence of mining life became apparent in 2014, when China flipped the Bitcoin production script. Regarding this topic, Bitcoin mentor, and master....
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 […]
U.K.-based Argo Blockchain just did record revenues, but a new report suggests 75% of Bitcoin mining still takes place in China, where “blood coin” is made. United Kingdom-based Bitcoin (BTC) mining firm Argo Blockchain just recorded the best quarter in its history, generating record revenues for three months straight. Yet despite the burgeoning cryptocurrency mining venture emerging in the west, the vast majority of Bitcoin production still takes place in China, where cheap, coal-powered electricity fuels an untold number of mining rigs.A recent report by Nature.com revealed that as much....
For many, the level of centralization found in the Bitcoin mining ecosystem is the biggest issue for the peer-to-peer digital cash system today. As a technology that relies on decentralization in order to provide a censorship-resistant bearer ecash, any trend towards centralization should be viewed as problematic. In 2014, economist Kevin Dowd claimed the incentives of pooled mining are “totally destructive of the Bitcoin system.” The amount of mining that takes place in China led former Bitcoin developer Mike Hearn to state, “Bitcoin is controlled by the Chinese Government.” Those who....