Bitcoin mining in northern Chinese province to be halted amid energy-saving push
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Bitcoin mining in northern Chinese province to be halted amid energy-saving push
epeakin
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Common people are paying the price for BTC energy consumption in the third world countries. I’m an Iranian and here is the same. Governments use electricity to mine bitcoin, and common people are pushed aside.
“energy-saving push”
yeah right
How many times over the years have we heard that China is cracking down and banning bitcoin mining?
So what…they shut some down, then as less miners exist the network adapts and decreases the algorithm difficulty. So we have less miners and in turn use less energy but maintain performance. It’s like the Alaskan gold rush now, everyone floods in to try and get some $$$$
That’s a bummer.
Pos
No it won’t.
Bullish!
Governant wants to be the only miner.
In before “This is just FUD” or “anti Bitcoin propaganda”
This is pure propaganda.
There are no doubt some smaller energy markets where people are getting screwed due to mining greed…but that’s anecdotal. In China in particular, miners largely use green energy, and surplus energy, and there’s a built-in rising incentive to move to these sources.
Still, this could have an overall positive effect on enhancing the decentralization of the bitcoin network.
It won’t do a damn thing to reduce carbon emissions.
Wouldn’t be a problem if China bought enough coal to run there power plants 🤣 stingy government assholes.