China Cracking Down On Cryptomining
This article <https://www.aljazeera.com/economy/2021/5/24/china-crackdown-forces-crypto-mining-operators-to-end-operations> reports on how many large cryptomining operators are moving out of China in the wake of the Government’s actions against them. But the main reason I’m posting this link is because of that picture. That’s what it looks like inside a cryptomining farm. Look at those power cables, like ships’ hawsers. It’s even more impressive at full resolution.
I wrote:
This article <https://www.aljazeera.com/economy/2021/5/24/china-crackdown-forces-crypto-mining-operators-to-end-operations> reports on how many large cryptomining operators are moving out of China in the wake of the Government’s actions against them.
However, seems the Government’s crackdown has its weaknesses. They can find and shut down physical mining installations, but it’s harder to stop cryptocurrency traders continuing to trade -- as you would expect, given the nature of cryptocurrencies <https://www.aljazeera.com/economy/2021/5/31/bb-despite-crypto-crackdown-in-china-traders-continue-bets>.
participants (1)
-
Lawrence D'Oliveiro