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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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Jan 16 4:00 PM EST

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To: Julius Wong who wrote (166335)	12/25/2020 3:54:52 AM
From: TobagoJack	Read Replies (1) of 219525

something about bitcoin - looks like we are nearing peak BTC as far as mining goes On 25 Dec 2020, at 4:46 AM, KK wrote: Good question, R. About half of Bitcoin miners are estimated to be located in China. This varies substantially throughout the year as miners migrate to China during the rainy season and set up shop next to Hydro dams where they consume the excess power generated on the cheap. If the CCP did decide to ban Bitcoin mining tomorrow, and half the hashrate suddenly dropped off the network, there would 2 weeks where transactions took twice as long to confirm before the difficulty adjustment ( blockchain.com ) corrected downwards so that blocks of transactions were once again coming in every 10mins on average. This difficult adjustment is what keeps the network from ever grinding to a halt if hashrate leaves the network en masse, and also what keeps the supply issuance of Bitcoin perfectly inelastic and predictable. In terms of network security, Bitcoin would be completely fine if all the miners in China switched off suddenly. It would still be the largest supercomputing network in the world by far, and have the same amount of mining power protecting it as three years ago. ...Merry Christmas everyone! And thanks for sharing that farewell to Hong Kong, B. Really poignant! On Fri, Dec 25, 2020 at 4:18 AM R wrote: More questions on bitcoin ... I understand the majority of the miners are physically located in China. Look at what China is doing to Jack Ma and ANT. It would be far easier to go after bitcoins since it serves no economic purposes and in fact, a distraction to PBOC's crypto efforts.

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