Which country has the highest percentage of miners?

[bryant.coleman]

In my opinion, although the largest proportion of the mining hash-power is from China, the largest number of individual miners might be from the United States of America. In China, they mostly have giant-sized farms employing thousands of rigs, compared to more medium-sized and individually-run mining farms in the United States.

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[VirosaGITS]

In my opinion, although the largest proportion of the mining hash-power is from China, the largest number of individual miners might be from the United States of America. In China, they mostly have giant-sized farms employing thousands of rigs, compared to more medium-sized and individually-run mining farms in the United States.

Which is kind of Ironic, considering the very bad average electricity cost from Americans. But you can see with the node spread graphic map that there is a lot of activity in North America, and most of those places have high electricity cost.

Sound like a lot of American are making poor investments just because of how awesome BTC is~

[knowhow]

Pretty sure BRAZIL should be the leader if the taxes weren soo high as 50% more of product value,reaching sometimes 100% ,why im saying those because energy painels where else is soo many sun all days? But China is leading with the big miners presence being there.

[VirosaGITS]

Pretty sure BRAZIL should be the leader if the taxes weren soo high as 50% more of product value,reaching sometimes 100% ,why im saying those because energy painels where else is soo many sun all days? But China is leading with the big miners presence being there.

But solar energy ain't that cheap, the battery for a year for a kWh is about 400$ too. Then the infrastructure, the panels, the people that need to maintain it... Its not a 24/7 things. You can use solar panel to cut down on usage during the day but to run around the clock you need energy storage and that doesn't work well in costs.

[Xenoph0bia]

Even I believe that China has the highest percentage of miners as they have huge population who are tech savvy, I might be wrong also.

[ranochigo]

In my opinion, although the largest proportion of the mining hash-power is from China, the largest number of individual miners might be from the United States of America. In China, they mostly have giant-sized farms employing thousands of rigs, compared to more medium-sized and individually-run mining farms in the United States.

Which is kind of Ironic, considering the very bad average electricity cost from Americans. But you can see with the node spread graphic map that there is a lot of activity in North America, and most of those places have high electricity cost.

Sound like a lot of American are making poor investments just because of how awesome BTC is~

Nodes uses very low amount of electricity, even less than 10watts when using it with raspberry pi. Miners however, uses considerably much more electricity and more space. Furthermore, many of the VPSes which have low costs are actually located in the US. Asian VPS are actually much more expensive.

[VirosaGITS]

In my opinion, although the largest proportion of the mining hash-power is from China, the largest number of individual miners might be from the United States of America. In China, they mostly have giant-sized farms employing thousands of rigs, compared to more medium-sized and individually-run mining farms in the United States.

Which is kind of Ironic, considering the very bad average electricity cost from Americans. But you can see with the node spread graphic map that there is a lot of activity in North America, and most of those places have high electricity cost.

Sound like a lot of American are making poor investments just because of how awesome BTC is~

Nodes uses very low amount of electricity, even less than 10watts when using it with raspberry pi. Miners however, uses considerably much more electricity and more space. Furthermore, many of the VPSes which have low costs are actually located in the US. Asian VPS are actually much more expensive.

I believe all that to be true, however, the hashrate that Americans connect to their node, and they do, is sadly running on pretty expensive electricity. Quite a few mentioned running their whole farm on 0.09 because "Thats a pretty good price". Seem a bit short sighted but i guess there's worse out there.

[findftp]

Per capita, it's the Netherlands (by far!)

[VirosaGITS]

Per capita, it's the Netherlands (by far!)

Thats a pretty cool graph, but even if its accurate, thats nodes, not miners. Most miners do not really mine locally so the amount of nodes is not necessarily an indicator of how many miners/hashrate power the locale has.

Still show how centralized China's hashrate is, running on so few nodes.

[Mickeyb]

Per capita, it's the Netherlands (by far!)

Thats a pretty cool graph, but even if its accurate, thats nodes, not miners. Most miners do not really mine locally so the amount of nodes is not necessarily an indicator of how many miners/hashrate power the locale has.

Still show how centralized China's hashrate is, running on so few nodes.

Exactly, these are nodes, not miners. Graphs means nothing except to show where are the most people that do support Bitcoin network.

Hats off to Netherlands! Such a small country with such a support to the network. And I assume these are mostly nodes, not miners since electricity in Netherlands is pretty expensive and I don't think there are a lot of people mining.

[bryant.coleman]

Which is kind of Ironic, considering the very bad average electricity cost from Americans. But you can see with the node spread graphic map that there is a lot of activity in North America, and most of those places have high electricity cost.

Sound like a lot of American are making poor investments just because of how awesome BTC is~

Yes. A lot of Americans (and miners from other countries) are mining Bitcoins at a significant loss. small-scale and solo mining is extremely unprofitable nowadays. But we should remember that the same complaint was heard from the miners in 2012, when the exchange rate was going at $5 to $10 per BTC. When Bitcoin peaked at $1,200, many of these miners made 50x to 100x profits.

[lahm-44]

I think the answer will be chaina or america and yes they are not just effecting the network but I will say they are scratching the bitcoin network and that's horrible

[ashour]

I think that China has the most bitcoin miners since the electricity prices are cheap, the labour is cheap and the equipment is cheap there as well.

[edric]

Can this affect the network in any way?

Most of the hashrate is in china. If china were to someone block the miners from connecting to the network, that could be disastrous since we would be losing over half of the hashrate

Why would it be bad?  Would it stop the confirmation of transactions or just slow down the network?  If it just slowed the network down would it make the other miners rich for awhile?

[VirosaGITS]

Can this affect the network in any way?

Most of the hashrate is in china. If china were to someone block the miners from connecting to the network, that could be disastrous since we would be losing over half of the hashrate

Why would it be bad?  Would it stop the confirmation of transactions or just slow down the network?  If it just slowed the network down would it make the other miners rich for awhile?

Hmmmm. Its a fundamental problem, not automatically a problem for the end user;

Bitcoin's security rely on its Decentralized system. The more decentralized it is, the harder it is to attack. The more centralized it is, the more control, power and security all rely on fewer points of failure, hence the network is easier to hurt or control.

[GamNoob]

Can this affect the network in any way?

It must be China.

[ranochigo]

Can this affect the network in any way?

Most of the hashrate is in china. If china were to someone block the miners from connecting to the network, that could be disastrous since we would be losing over half of the hashrate

Why would it be bad?  Would it stop the confirmation of transactions or just slow down the network?  If it just slowed the network down would it make the other miners rich for awhile?

If China were to block the miners, miners in that entire large country would not be able to mine, slowing down the network assuming that they control a huge portion of the hashrate. Other miners won't be rich since the difficulty is going to remain the same till after 2016 blocks from the last difficulty change. There is a limit to it too (Max change is by a factor of 4) however. Another issue is that, if they control too much of the global hashrate, the drop of hashrate could create opportunities for people to make a 51% attack.

[VirosaGITS]

Can this affect the network in any way?

Most of the hashrate is in china. If china were to someone block the miners from connecting to the network, that could be disastrous since we would be losing over half of the hashrate

Why would it be bad?  Would it stop the confirmation of transactions or just slow down the network?  If it just slowed the network down would it make the other miners rich for awhile?

If China were to block the miners, miners in that entire large country would not be able to mine, slowing down the network assuming that they control a huge portion of the hashrate. Other miners won't be rich since the difficulty is going to remain the same till after 2016 blocks from the last difficulty change. There is a limit to it too (Max change is by a factor of 4) however. Another issue is that, if they control too much of the global hashrate, the drop of hashrate could create opportunities for people to make a 51% attack.

And when they reconnect one blockchain would get destroyed by the biggest one, which means if China's hashrate/block trail is higher, they will have mined 100% of all blocks for that period and everything that was done outside China for that period of time would be invalidated. Payouts, transactions, payments, everything.

It would be basically destroyed and its value would soon plummet to single digit.

Doing that would simply kill BTC. China would then control 100% of pretty much nothing. All in all, this would only benefit those who which to destroy it and not anyone that benefits from it.

[SushGo]

I think china or japan have more miners as per my knowledge

[btc_enigma]

Look at this pool stats: https://blockchain.info/pools
the biggest pool is https://www.f2pool.com
china is dominate of bitcoin miners, maybe because they have free electric bills.

They have free electric bills ? Really ?