Altcoins Talks - Cryptocurrency Forum

Learning & News => News related to Crypto => Topic started by: newshunter on April 08, 2021, 07:01:35 AM

Title: UK Bitcoin mining revenues soar, but China hogs 75% of ‘blood coin’ production
Post by: newshunter on April 08, 2021, 07:01:35 AM

UK Bitcoin mining revenues soar, but China hogs 75% of ‘blood coin’ production

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.

Source: UK Bitcoin mining revenues soar, but China hogs 75% of ‘blood coin’ production (https://cointelegraph.com/news/uk-bitcoin-mining-revenues-soar-but-china-hogs-75-of-blood-coin-production)

Would appreciate your opinion about this

Title: Re: UK Bitcoin mining revenues soar, but China hogs 75% of ‘blood coin’ production
Post by: Gravatai on April 09, 2021, 07:59:59 AM

All miners benefit from the rise in the price of Bitcoin. The dominance of China is very high, despite the fact that many cryptocurrency farms have been transported to other countries. I think this high dominance hurts Bitcoin's reputation as a decentralized coin.

Title: Re: UK Bitcoin mining revenues soar, but China hogs 75% of ‘blood coin’ production
Post by: TomPluz on April 09, 2021, 11:06:35 AM

I am not actually comfortable that Bitcoin mining remains to be dominated by China though I understand that it can because it is a lot cheaper to do it in China compared to other countries. In the past many months, there were many good mining projects locating outside of China and I am hoping this trend can continue so that one day mining will be fairly distributed to as many countries as possible. I hate to think that even Bitcoin is 'Made in China' as the country has a government I don't admire.