in

The world’s largest Bitcoin computing power base was closed

Sichuan, China‘s last mining province, finally closed all [#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hashtag_click) mines on June 20. This picture shows that the miners are cutting off the power of the Bitcoin mining machine, and the rows of beating green lights are extinguished one by one.

​

https://preview.redd.it/6dp9aypquk671.png?width=500&format=png&auto=webp&s=5f01707802b6d546cbecf12a36348c755f82dbb8



View Reddit by cryptomininguserView Source

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

17 Comments

  1. Reposting my comment everywhere I see these China news producing fear in newbies:

    >
    > Moneybadger don’t give a fuck.
    >
    > These are fantastic news for Bitcoin:
    >
    > * Bitcoin mining gets more descentralized.
    >
    > * Bitcoin mining gets more clean (renewable energy sources).
    >
    > * Bitcoin miners in other countries become more profitable.
    >
    > * Bitcoin miners all around the world get cheap mining rigs from China.
    >
    > * Mining difficulty automatically adjusts as per protocol, neutralizing the effects of less (or more) mining rigs coming on/off line.
    >
    > * This kills the FUD about: “China controls Bitcoin!” (China will have no miners, no exchanges, no nothing to ‘control’)
    >
    > * This kills the FUD about: “Bitcoin uses dirty energy!” (Bitcoin mining uses mainly clean energy but in China part of the mining was being done with coal).
    >
    > * This kills the recurrent FUD: “China bans Bitcoin!” (there’s nothing left to ‘ban’ for them in the future).

    > Yes, this time they are ending it for sure, in all the provinces that were mining, they are effectively closing them and this is the reason:
    >
    > China’s CBDC (Central Bank Digital Currency) or Digital Yuan.
    >
    > They want total control over the currency and over their population. Centralized digital money under their total control combined with the ‘social credit score’ Orwellian program, they will effectively have every citizen under their thumb, with no way out of the Authoritarian total centralized control.
    >
    > Xi is becoming effectively an Emperor with no way to take him out of power. The communist party already closed all the avenues that could lead to that (legal, political, economical ones), crushing all forms of dissent and all freedoms.
    >
    > Do you speak ANYTHING other that absolute praise for the communist party and Xi? You get social demerits and can’t travel, can’t purchase things with your digital money, etc. An authentic ‘Black Mirror’ dystopia.

    These are the most relevant links debunking the Bitcoin energy usage FUD:

    https://www.cnbc.com/video/2021/05/13/elon-musk-bitcoin-reversal-climate-change.html

    https://www.youtube.com/watch?v=TeVvtSCfcQ4

    https://www.youtube.com/watch?v=eTqKLJ_o9yQ

    https://www.youtube.com/watch?v=Z3wFYxNItKQ

    https://finance.yahoo.com/news/study-over-74-bitcoin-mining-180300738.html

    https://moneyweek.com/investments/alternative-finance/bitcoin/602678/bitcoin-energy-consumption

    Newest reports:

    https://hbr.org/2021/05/how-much-energy-does-bitcoin-actually-consume

    https://uk.sports.yahoo.com/news/bitcoin-mining-actually-uses-less-210837605.html

    https://medium.datadriveninvestor.com/lightning-is-3-7-million-times-more-efficient-than-visa-87065d13eea9

    https://cryptopotato.com/banks-pollute-way-more-than-bitcoin-study-finds/

    https://www.dailystockmarketnews.in/2021/05/study-shows-banks-cause-more-pollution.html?m=1

    https://old.reddit.com/r/Bitcoin/comments/nl0gky/bitcoin_miners_are_escaping_china_and_it_might_be/

    https://endthefud.org/

    https://www.youtube.com/watch?v=cvfb-rBBsSg

    https://fee.org/articles/bitcoin-uses-half-the-energy-of-the-banking-system-new-paper/

    https://www.youtube.com/watch?v=6NbBknQJgNI

    https://bitcoinmagazine.com/culture/bitcoin-vs-world-military-emissions

    https://www.inbitcoinwetrust.net/bitcoin-and-the-renewable-energy-debate-in-mining-the-great-hypocrisy-5b07cf6f7ba3

    Edit: Added links.

  2. This is excellent news for bitcoin.

    Finally moving a large share of mining out of china is good for decentralising mining more and less future china fud have minimal impact

  3. Can some billionaire just buy up all the operations and send them to somewhere cheap like lebanon pls and get the hashrate flowing again. Fuck china and their 700th ban on crypto mining.

  4. Bring that mining LOT to the US. Florida has already rolled out the red carpet! This has to be THE Dip before the Moon shot, so called TA experts (crystal ball readers) are referring to.

What do you think?

Binance: all the latest in the NFT marketplace in preparation for 24 June

Binance: all the latest in the NFT marketplace

Bitcoin Mining Firm HIVE Blockchain Approved For Nasdaq Listing

Bitcoin Mining Firm HIVE Blockchain Approved For Nasdaq Listing