Miners moving from Asia To US and Canada.

[Ahmedo24]

The recent crackdown on cryptocurrencies by the government of China seriously affected the price of most Crypto currencies in the market. The miners were also cut off from source of electricity to mine bitcoin and other coins in the country, this is no doubt an effort to erase cryptocurrency from existence.
The cryptocurrency ecosystem has no doubt been witnessing significant growth and development. US and Canada are the Frontline countries that are trying as much as possible to host and possibly get all the mining equipments from China so they can concentrate mining activities in their country. Recently Hive blockchain technology in Canada bought 3000 mining rigs , recently Marathon has announced to build 73,000 Capacity ASIC mining rigs in Texas. Recently another company bought about 7200 mining rigs from bitman.
Share your thoughts on this development.

 

[btaliat]

Let us hope and see whether this will change the story so soon. But I am wondering why we have many miners and still we don't have much people investing in cryptocurrency these days. We only have people that promote a particular coin for their own selfishness.

 

[Josemendez]

I think China actually took a step that is not quite favorable . First , they could have sort for alternative way to mine with eco-friendly energy source . Their ban has been the major cause of this movement because China has the highest mining rig before this present ban on mining .
The only thing here is that there are countries who saw this as an opportunity and thus are allowing miners in their country , to mine with eco-friendly energy .

 

[Mika]

I have read news regarding how miners are moving away from China and moving into Europe and America. I think this is good news for the users of the crypt currency. China is a rogue nation, it is an autocratic country, China is suppressing its own citizens to create national wealth. I think we should be happy that mining is now controlled by democratic countries.

 

[Kabak95]

I have heard so many things about the crypto break down. It's going to affect miners too and I hope their will be solution. China is a populated country and some of the government policies will have a fast impact on global affairs.

 

[Ahmedo24]

I think China actually took a step that is not quite favorable . First , they could have sort for alternative way to mine with eco-friendly energy source . Their ban has been the major cause of this movement because China has the highest mining rig before this present ban on mining .
The only thing here is that there are countries who saw this as an opportunity and thus are allowing miners in their country , to mine with eco-friendly energy .

probably didn't know that other countries will quickly look for a way to repel their action and I am very glad that us and Canada are encouraging miners likewise personal investors and institutional investors are also investing heavily on mining of Bitcoin without with an eco-friendly environment. So it is very likely that in the future China may reverse its decision which would make them more relevant in the crypto industry more.

 

[Josemendez]

probably didn't know that other countries will quickly look for a way to repel their action and I am very glad that us and Canada are encouraging miners likewise personal investors and institutional investors are also investing heavily on mining of Bitcoin without with an eco-friendly environment. So it is very likely that in the future China may reverse its decision which would make them more relevant in the crypto industry more.

By the time they will reverse their decision , most of the miners have settled down in some crypto friendly countries. Also , other countries will have more Influence than them , and no one will want to deal with China anymore because if their system of manipulating things at their free will without considering the impact of their actions.

 

[Deleted member 28127]

By the time they will reverse their decision , most of the miners have settled down in some crypto friendly countries. Also , other countries will have more Influence than them , and no one will want to deal with China anymore because if their system of manipulating things at their free will without considering the impact of their actions.

Miners are searching for solution that is in general low taxation and more profitable and also to have a group of friends to exchange informations however it is not possible at China so this is reason behind this choice, or any country that can also have a lot of rules, simplicity is preferable by most of people on online earning than complex tasks.

 

[Ahmedo24]

I think the idea of even having a mining association globally will help a lot of minors to be able to exchange informations and also to come up with policies that could guide them and protect them in any country they are as regards taxations and mining licences and few other things that might be necessary for them..

 

[Sherman198]

I don't think China wants Bitcoin to flourish in their country anymore, that's why the banned Bitcoin miners in the country. They are setting up the pace for their new centralized Digital currency. China wants no competition with their centralized coin. For this, I concur and I fear they may not lift off the ban anymore.

 

[Alexandoy]

Pardon me for this ignorant question because I am still confused with mining vis-a-vis the energy consumption. If the energy consumption can affect the country's electric supply then do you think there will be a government sanction on the mining? As I said, I cannot understand the concept of mining until now and I am only relying on what I am reading in forums.