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After Bitcoin dropped from $8,000 to $3,600 the hash rate dropped by almost 50%. The difficulty level, that only adjusts every 2 weeks, dropped by 16%. The second biggest drop in Bitcoin’s history.
At current Bitcoin prices of ~$6,000 we do have a problem. Mining is already centralized in China, but after the halving it seems that this will even be more the case. It won’t be profitable anymore to mine Bitcoin for the majority of European miners, as well as the American miners. Where will the mining end up? Right, China…
In China one can still mine Bitcoin for a cost as low as $3,000 currently and $6,000 after the halving, which will make it still profitable at current prices, while for the Americans the price need to more than double to be profitable again. Not a good-looking situation.
The scariest thing is that “whoever controls the mining, controls the network”, so if China will deliver 80%-85% of the mining power, it also controls the Bitcoin network…
#bitcoin #mining #China
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source
0:00 – 5:41 Crypto.com
5:41 – 7:51 Hash rate
7:51 – 11:08 Difficulty adjustments
11:08 – 15:53 Why China will be in control
Good video, the question is what do we do about it? xD
What can I use the MCO i got from using your ref code?
q
well said
go figureYes/ we know that/ but the chinese support…go figure
Excellent again ????
Miners need to stop selling for a short time to increase the prices
Discount Ethereum linkairdrop.com/LJFD5uwBztfuj22
What do you mean they 'control' the network? Why is it a problem exactly? What can be done about it?
Good stuff. Don't stop. Also, can We be youtube friends? xd
It is rumored that C.h.a.i.n.l.i.n.k will make many X -ees this year! Bitcooins are no more interesting. So, the free airdrop – aboutlinkairdrop.com/88974
awesome video it was really good
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Now its time to go etherium, forgot bitcoin
nice video keep it up bro
amazing content keep up the great content
How come China will control d bitcoin?
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