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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (176790)	5/17/2022 7:37:45 PM
From: TobagoJack	Respond to of 217749

Re <<I wonder what would happen if bitcoin go pervasive and CCP China China China re-engages w/ mining to the point of 51% of miners?>> we are about to find out should current trajectories of various vectors hold in the meantime, 'they' switched on the machine bloomberg.com China Makes a Comeback in Bitcoin Mining Despite Government Ban ‘Covert mining operations’ behind rise, Cambridge Center says Hashrate on the network climbed to new highs after 2021 fall Sidhartha Shukla 17 May 2022, 19:45 GMT+8 Photographer: Qilai Shen/Bloomberg Sign up for our new Crypto newsletter and follow @crypto Twitter for the latest news. While the US extended its leading position as the dominant location for Bitcoin mining, China has reemerged as the second-largest locale despite a government ban on the activity last year. The US accounted for 37.84% of global hashrate, a measure of computing power used to extract the digital currency, between September 2021 to January, according to the Cambridge Centre for Alternative Finance, in a report released on Tuesday. The hashrate, also responsible for securing the Bitcoin network, has made a strong comeback to new highs after falling last year. Proof of WorkMiners take Bitcoin hashrate to new all-time highs Source: CoinMetrics Read More: Bitcoin’s Price Swings But Its Power Use Only Soar Following the mining ban in China last year, the country has seen a sudden surge in activity through “covert mining operations” and has “re-emerged as a major mining hub” grabbing 21.11% of global hashrate, according to the CCAF. “This strongly suggests that significant underground mining activity has formed in the country, which empirically confirms what industry insiders have long been assuming,” CCAF wrote in the report. In May (2021), Beijing intensified its efforts to curb the cryptocurrency market. It seems covert mining is still happening in China through routed through virtual private networks that make it appear the computers are operating in another country. While covert mining operations may be a cause of this resurgence, CCAF’s methodology, which is based on aggregating geolocation data given by partner mining pools, is prone to errors as many miners miners might hide their identity using proxy services like VPNs. Kazakhstan was third at 13.22%, followed by Canada taking 6.48% of global hashrate. Russia accounted for 4.66%, and has seen cryptocurrency mining operations relegated elsewhere, said the report.