China currency and effects on BTC

[duts_bg]

i dont actually get why about 40% of bitcoin is mined in China ( maybe im wrong but someone's here said like this i think ),
i know the china is pretty greedy for earnings ( hehe as we all ) but why china especially,not let's say USA?

The USA people are not interested in the development of the bitcoin miners. They might think the bitcoin is useless.

Yes! But there is something else.
http://cointelegraph.com/news/bitcoin-is-potential-national-threat-says-us-regulator

[dumana]

The Chinese currency is devaluing against the US Dollar at the moment. That could be reason for the bitcoin price rise.

[Barnabe]

i dont actually get why about 40% of bitcoin is mined in China ( maybe im wrong but someone's here said like this i think ),
i know the china is pretty greedy for earnings ( hehe as we all ) but why china especially,not let's say USA?

Knowing what were the prices of electricity in Eastern Europe under socialism and what now they are,  We can assume that overhead costs there are considerably smaller.

It's not only due to political reasons, China has an interest in keeping low prices in electricity since they need it for growth (mainly based on industrial production and exportation). This also means that they have lower environmental constrains so they can use all available power sources (including coal).
A high price of electricity means that we cannot mine bitcoins in Europe, but it also means that we don't have periodic smog slowly killing everyone 

[anthonydar]

i dont actually get why about 40% of bitcoin is mined in China ( maybe im wrong but someone's here said like this i think ),
i know the china is pretty greedy for earnings ( hehe as we all ) but why china especially,not let's say USA?

Knowing what were the prices of electricity in Eastern Europe under socialism and what now they are,  We can assume that overhead costs there are considerably smaller.

It's not only due to political reasons, China has an interest in keeping low prices in electricity since they need it for growth (mainly based on industrial production and exportation). This also means that they have lower environmental constrains so they can use all available power sources (including coal).
A high price of electricity means that we cannot mine bitcoins in Europe, but it also means that we don't have periodic smog slowly killing everyone 

Most of the big bitcoin farms are in South West China, where the hydro power electricity price is less than $0.04/kwh.