China wants an “orderly exit” from bitcoin mining
Bitcoin mining could be on its last legs in China.
The country’s top internet-finance regulator, issued a notice asking local governments to “guide” bitcoin-mining operations to make an “orderly exit” from the business, Bloomberg and Reuters reported that China is planning to limit electricity supply to bitcoin miners.
Cleaning up. (Aurelien Foucault for Quartz)
could this be the beginning of the end of China’s dominance in bitcoin mining .
And most importantly what it means for bitcoin it self and the whole cryptocurrency world ?.
Digging for digital gold. (Aurelien Foucault for Quartz)
The main problem with mining is the vast amounts of power used in the process. In many countries the core comes from coal. Though the % is less each day. I imagine this is the primary reason not the common person gaining wealth though Mining is swapping power for coin. For now most of our power is dirty and contributes to the quality of air on our planet. Much better to use steem as you create coin by creative doing.