Its profitable for those who do it or it wouldn't happen. The problem is it is only profitable for those with connections to government.
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Its profitable for those who do it or it wouldn't happen. The problem is it is only profitable for those with connections to government.
Maybe in China, or if you want to build a massive installation. I thought the idea of decentralization was there would not be large entities which can effectively control, or cetralise control over the network.
That's correct @handsolo. However the manor Bitcoin has evolved from its inception was not anticipated by Satoshi Nakamoto or the early participants. @dans article plainly describes the influence of the Chinese over Bitcoin mining farms.
It's difficult to find out what the actual agenda is and who is behind the recent events to control paper currencies in places like India, Australia and Spain to name a few. Some may label the Chinese as the villain in a global power play against the economic might of the USA, but if anything that is only a surface explanation. I don't believe it, I see it as a misdirection tactic to obscure the real agenda, which I equate to the globalist's agenda. It's all about control of the masses.
Pay very close attention to "the war on cash" and how digital currencies like Bitcoin are treated by the media and politicians. Those will be sure signs of where they plan to lead us.
Well put. I think we are in for interesting times with respect to crypto evolution.
Due to power requirements? We are relying on a hydro power plant and I believe its cheap compared to other sources.
By cheap they are referring to how much YOU the miner are charged for that power. It has nothing to do with how cheap it is to produce. If you are producing your own power and it was sufficient then this would not be an issue. Yet, likely you like most of us have to purchase your power somewhere. If you get a DEAL on the price like Dan indicated in the article you end up dominating due to it being more profitable as you can run massive equipment that outperforms everyone else, and the cost to do so is less than it would be for other people if they were to try to buy that same amount of power/energy/electricity.
Thanks for the insights. I might have the advantage because I believe the cost power in my place is cheap compared to other countries.