From my personal research , mining of cryptocurrency was created especially for bitcoins to be difficult as the mining got closer to the total supply of the crypto-currency. I don't expect the mining of bitcoins to be cheaper but rather difficult.
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I don't even know how this can be stopped. It is dangerous. And according to information mining of cryptocurrency requires a lot of energy and how these countries are able to generate this energy is what baffles me.Probably, the only thing that is actually possible is to reduce theyl kind of harmful substances released to the environment during the process of mining Bitcoin. Elon musk talked something about green energy sometime ago in terms of Bitcoin mining.
Of course they are advanced Nations, they have abundant energy and electricity in order to accommodate Bitcoin mining. I think it was affecting the economy of China that's why they banned it.I don't even know how this can be stopped. It is dangerous. And according to information mining of cryptocurrency requires a lot of energy and how these countries are able to generate this energy is what baffles me.
Lolz, could anything affect the economy of China. A country who is among the best in economy. Anyway such thing can never take place here in Nigeria because there is no adequate electricity supply.Of course they are advanced Nations, they have abundant energy and electricity in order to accommodate Bitcoin mining. I think it was affecting the economy of China that's why they banned it.
The reason they are among the best economy is because they are being very careful like banning of Bitcoin mining. It might have affected by energy distribution which will inevitably affect their economy.Lolz, could anything affect the economy of China. A country who is among the best in economy. Anyway such thing can never take place here in Nigeria because there is no adequate electricity supply.
But to be very serious china really tried for cryptocurrency because other country are not even willing to take the responsibilities of accepting the mining of BTC because of the huge electrical needs for the mining process. So does it really mean that there is no mining of cryptocurrency currently ?The reason they are among the best economy is because they are being very careful like banning of Bitcoin mining. It might have affected by energy distribution which will inevitably affect their economy.
A lot of people are still mining Bitcoin. There is a state in the United States of America that actually accept the mining of Bitcoin. There are also other countries in Europe that supports it.But to be very serious china really tried for cryptocurrency because other country are not even willing to take the responsibilities of accepting the mining of BTC because of the huge electrical needs for the mining process. So does it really mean that there is no mining of cryptocurrency currently ?
And this does not affect the economy of those country ? I even believe the economy of those country are the ones to be affected the most and not that of China which is among the most populated country. China is a strong country.A lot of people are still mining Bitcoin. There is a state in the United States of America that actually accept the mining of Bitcoin. There are also other countries in Europe that supports it.
China is actually trying to protect their economic because Bitcoin mining could have had a lot of negative effects on the long run. This is probably what might have triggered their action.But to be very serious china really tried for cryptocurrency because other country are not even willing to take the responsibilities of accepting the mining of BTC because of the huge electrical needs for the mining process. So does it really mean that there is no mining of cryptocurrency currently ?
If considering whether mining will be cheaper or not,if that is anything to go by it will be after the end of the Ukraine and Russia war.I say this because of the aftermaths of what we are witnessing now which was never there before.Do you guys think that crypto mining will become cheaper in the near future? I wish it would be, because I would like to build some PC setups where I can mine a ton of different kinds of crypto. But I hope to one day see more easily accessible PCs released to mine easier. Do you think this will happen?
But do you really think they're not benefiting from the mining? I believe the mining company would pay the government a certain percentage.. I wonder why this won't still be profitable.China is actually trying to protect their economic because Bitcoin mining could have had a lot of negative effects on the long run. This is probably what might have triggered their action.
From my personal research , mining of cryptocurrency was created especially for bitcoins to be difficult as the mining got closer to the total supply of the crypto-currency. I don't expect the mining of bitcoins to be cheaper but rather difficult.