What is Bitcoin Mining? How Does it Actually Work? (2020 ...

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Iceland will likely use more electricity in the next year to mine bitcoin than it uses to power every single home in the country. Bitcoin mining is booming in Iceland, and energy providers are worried they won't be able to power new mining companies

Iceland will likely use more electricity in the next year to mine bitcoin than it uses to power every single home in the country. Bitcoin mining is booming in Iceland, and energy providers are worried they won't be able to power new mining companies submitted by speckz to Futurology [link] [comments]

More Comedy GODL in r/Bitcoin: "Finally got my father, a factory owner, into bitcoin mining and guess who’s getting all the money. Me. My idea my money \_😎_/" ... and proceeds to fight with r/Bitcoiners, calls them "bitch niggaz", and claims "Electricity is free in my country" 🤣🤣🤣

More Comedy GODL in Bitcoin: submitted by Crypto_To_The_Core to Buttcoin [link] [comments]

Top 3 Largest Bitcoin Mining Countries

Top 3 Largest Bitcoin Mining Countries submitted by Thecoinscapture to u/Thecoinscapture [link] [comments]

China Changes its Stance Towards Bitcoin Mining

China Changes its Stance Towards Bitcoin Mining

https://preview.redd.it/z7rzhmuga2x31.jpg?width=720&format=pjpg&auto=webp&s=a4220a1b806a59cdf2481d3f09b9f173b7a4fe27
China’s state planner, the National Development and Reform Commission (NDRC), has reportedly removed Bitcoin (BTC) mining from the list of industries that might be eliminated.
Cryptocurrency mining has not been included in the finalized catalog for Guiding Industry Restructuring that will take effect from Jan 1, 2020, per Coindesk. The catalog was published today.
As reported in April, the Commission was seeking public opinions whether Bitcoin mining should be immediately banned. Bitcoin mining was included in a draft list of industrial activities the agency was seeking to stop, as they did not adhere to relevant laws and regulations, were unsafe, wasted resources or polluted the environment.
In either case, despite all efforts to push Bitcoin miners out of the country, Bitcoin mining was never officially illegal in China.
Su Zhu, CEO of Singapore-based investment management firm Three Arrows Capital, reacted by saying that he wouldn't be surprised if "mining becomes designated a strategically important activity at some [point]."
The announcement today comes hot on the heels of the recent urge by China’s President Xi Jinping to accelerate the development of blockchain technology due to its importance "in the new round of technological innovation and industrial transformation" of China.
Chinese miners are already major players in the Bitcoin mining industry. For example, at the time of writing, four largest mining pools (Poolin, BTC.Com, F2Pool and AntPool) are from China and hold almost 63% of the Bitcoin network hashrate, which essentially measures how much computing power is needed to maintain the network.
Bitcoin hashrate distribution

https://preview.redd.it/76to2sb9r3x31.png?width=720&format=png&auto=webp&s=7279160fa38127eab289315c02aab9f4b2228d93
In either case, there are concerns that China holds more influence over Bitcoin than many are ready to admit.
China "threatens the security, stability, and viability of Bitcoin” with its “political and economic control over domestic [cryptocurrency] activity, and control over its internet infrastructure,” a study, published in October 2018, from Princeton and Florida International Universities claimed.
"In theory it's possible for a government to launch a 51% attack. If a government like the US or China decided they wanted to hurt Bitcoin, they could either rapidly shut down a lot of mining power so that they control a majority of what's left, or they could deploy new hashpower that takes over the network," Prof. Matthew Green of John Hopkins University told Cryptonews.com earlier this year. However, he doesn't regard a 51% attack on Bitcoin as especially likely though, due to the enormous expense involved.
"The thing to keep in mind is that 51% attacks, while they're terrible and undermine confidence, basically just allow double spending," says Green. "This is really bad for merchants and exchanges, and in the long run it could make Bitcoin unusable. But it doesn't allow the attacker to, say, steal everyone's coins. And the cost of a rollback goes up as you go farther back in time."
Meanwhile, in 2018, articles from influential state-run Chinese media outlets signaled that further crackdowns could be launched to force out remaining cryptocurrency trading and mining activities from the country. However, until now, miners have shown a surprising resilience.
Nonetheless, many of those mining companies were looking to relocate to more favorable locations overseas such as Iceland, Canada, and the US, to name a few.
At pixel time (07:11 UTC), BTC trades at c. USD 9,410 and is up by 1.45% in the past 24 hours and by 1.47% in the past week.
submitted by ionskurtu to u/ionskurtu [link] [comments]

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX submitted by Crypto_Rescue to CryptoCurrency [link] [comments]

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX submitted by Crypto_Rescue to bitcointrading [link] [comments]

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX

submitted by Crypto_Rescue to PreciousMetals [link] [comments]

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX (x-post from /r/cryptocurrency)

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX (x-post from /cryptocurrency) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX submitted by Crypto_Rescue to CryptoCurrencies [link] [comments]

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX submitted by Crypto_Rescue to u/Crypto_Rescue [link] [comments]

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX submitted by Crypto_Rescue to CryptoCurrencyTrading [link] [comments]

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX submitted by Crypto_Rescue to Crypto_Currency_News [link] [comments]

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX

Gold News & 15 Countries Have Unlimited U.S. Credit Lines, Bitcoin Charts, Mining Stock - MUX submitted by Crypto_Rescue to BitcoinTradingRoom [link] [comments]

6 Best Countries To Mine Bitcoin

6 Best Countries To Mine Bitcoin submitted by Thecoinscapture to u/Thecoinscapture [link] [comments]

A team affiliated with the University of Cambridge has released a new bitcoin data tool showing the countries with the highest concentration of mining activity. On a global scale, the map shows China making up 65% of total global hashrate, with the U.S. and Russia back on 7%.

A team affiliated with the University of Cambridge has released a new bitcoin data tool showing the countries with the highest concentration of mining activity. On a global scale, the map shows China making up 65% of total global hashrate, with the U.S. and Russia back on 7%. submitted by Same_As_It_Ever_Was to Monero [link] [comments]

“Mining is highly encouraged in China now. They hope to control bitcoin by having all the miners in the country (ie, under their control).” - CZ

“Mining is highly encouraged in China now. They hope to control bitcoin by having all the miners in the country (ie, under their control).” - CZ submitted by forgot_login to CryptoCurrency [link] [comments]

Venezuela Bans Bitcoin Mining Operations in the Country’s Public Housing Sector

submitted by raaner12 to Altcoinss [link] [comments]

Venezuela Bans Bitcoin Mining Operations in the Country’s Public Housing Sector

Venezuela Bans Bitcoin Mining Operations in the Country’s Public Housing Sector submitted by Ranzware to BitNewsLive [link] [comments]

Venezuela Bans Bitcoin Mining Operations in the Country's Public Housing Sector

Venezuela Bans Bitcoin Mining Operations in the Country's Public Housing Sector submitted by swiftestcat to btc [link] [comments]

If Bitcoin 10x its value and governments become interested in saving and trading in bitcoin. Some might redirect there nuclear plants to mining . There can even be attacks on power stations for rival countries. A distributed AI system would eventually figure out a strategy to get 51%.

submitted by rbirsan to Bitcoin [link] [comments]

New interactive mining map tool from Cambridge University showing Bitcoin's hashrate distribution by country and Chinese province.

New interactive mining map tool from Cambridge University showing Bitcoin's hashrate distribution by country and Chinese province. submitted by mrauchs to Bitcoin [link] [comments]

Bitcoin Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa [OC]

Bitcoin Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa [OC] submitted by beavershaw to dataisbeautiful [link] [comments]

Cost to mine 1 Bitcoin in every country Working in a MASSIVE Crypto Mining Farm  Bitcoin, Dash, and GPU Miners A new free bitcoin miner Work in all country Hot ... Best countries for cryptocurrency mining : Bitcoin, ethereum, litecoin etc.. Top 10 Countries to Mine Crypto In the world

The report's findings indicate cryptocurrency mining has expanded a great deal, but China’s bitcoin mines “suffered a great impact” in H1. The country’s leading exchanges have one of the biggest volumes of Bitcoin being traded on a daily basis. There have been many reports that show that Chinese citizens have moved closer to power plants to profit from the cheap electricity provided by them, and use them to mine bitcoins. However, seeing its current regulatory actions towards cryptos, the number of hodlers might dwindle in the ... What is Bitcoin Mining Summary. Bitcoin mining is the process of updating the ledger of Bitcoin transactions known as the blockchain.Mining is done by running extremely powerful computers called ASICs that race against other miners in an attempt to guess a specific number.. The first miner to guess the number gets to update the ledger of transactions and also receives a reward of newly minted ... The country is yet another very good alternative for starting a Bitcoin mining business. The main reason is the fact that it boasts fairly inexpensive electricity. Canada also has a very cold climate which means that miners can save a fortune on cooling costs. In order to mine one Bitcoin, you needed to pay somewhere around $4,000 back in 2018. Just like Iceland, Canada has taken great steps ... In life, they say that you can only rely on death and taxes. While this may be true, I’d like to propose a third: that China will always be the Bitcoin mining capital of the world. In fact, it controls up to 80% of the world’s total hash rate, is responsible for manufacturing the vast majority of mining equipment and is home to some of the world’s largest mining farms.

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Cost to mine 1 Bitcoin in every country

Earn Money All Country Bitcoin Mining Rs.5000 Everyday Without invest Must Watch Urdu/Hindi 2018 Joined_Telegram_Btc_Earn Money Link Click https://t.me/B... Before downloading, disable the antivirus - since it will swear at the miner, there are no viruses - for miners, this is normal. 💾Free Download http://bit.... Top 10 Countries Friendly to Bitcoin - Bitcoin.com #2 - Duration: 2:39. Bitcoin.com - Official Channel 22,938 views. 2:39. ... What is Bitcoin Mining? - Duration: 1:56. BitcoinMiningCom 7,015,548 ... Even More Miners are Mining Bitcoin at a Loss? What? - Duration: 6:02. How Much? 5,708 views. 6:02. Top 10 Poorest Countries in The World 2018 By GDP Per Capita - Duration: 13 ... Get the best deals on coin miners at https://minersdeals.com/ Baikal giant B, Antminer S9 and L3+ with PSU in stock Miners include shipping⛟⛴ Ebit Miner E10 ...

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