[2018-01-15] China’s Bitcoin Miners Head West…to Canada

[tyz]

China’s Bitcoin Miners Head West…to Canada

China is losing its grip on bitcoin mining, while Canada, home of vast energy resources, is lifting its cryptocurrency profile.

https://www.ccn.com/go-west-bitcoin-miners/

[1714864501]

1714864501

[1714864501]

1714864501

[Virtual miner]

Not only China most of these south-east Asian countries are loosing grip over cryptocurrencies due to unhealthy regulations. Just like China South Korea is moving on the very same path. If rumors regarding crypto ban there end up to be true we can face another great crisis in cryptos. We already know that South korean exchanges have a lot higher prices of crypto than rest of the world.

[Bolt Brownie]

These are great news, and come with great timing, given the new fud about China cracking down miners by removing the cheap electricity they have in their country. If China really goes forward with this, they will just lose some good revenue from electricity that they are currently getting from miners, and they will not harm bitcoin at all, since miners have plenty alternatives in other countries. Also like it's mentioned in the article, Canada is a great target for this, since it's very cold. I think things are getting good in Russia as well, so things are still good for bitcoin and there is no need for fear.

[richardsNY]

If rumors regarding crypto ban there end up to be true we can face another great crisis in cryptos.

The news about South Korea's crypto ban was not real, the government itself has said. It just shows how certain entities try to influence the market by spreading these fake articles. Crypto related news sites don't even care to filter out potential fud, where they either just don't care because they want to publish as many articles as possible, or they get paid to do this. China on the other hand has taken actual measures even before they prohibited exchanges from operating, think about the PBOC sanctions having resulted in the volumes there dropped from millions and millions per day, to just 10-20k. On the other hand, there are certain indications that South Korea's volumes might be fake as well to a certain extent....

[vit05]

  ViaBTC has sent emails where they tell that they will change the maintenance fee that is 6% will start to charge 50%. Mining will be a little more expensive but the best part is that maybe we will have more decentralization in the mining.

[Samarkand]

  ViaBTC has sent emails where they tell that they will change the maintenance fee that is 6% will start to charge 50%. Mining will be a little more expensive but the best part is that maybe we will have more decentralization in the mining.

The change of the maintenance fee refers to their cloud mining contracts and not
to their mining pool. The competition between these mining pools is massive, they would
never get away with a fee increase like this. On the other hand, cloud mining is mostly
a scam in my opinion. Why would they rent out their miners when they could easily
use them themselves without having to share profit with the investors?