There’s always rumours of mining still happening in China. Have you got any local knowledge of this? Is it done by the state or privately?
This - right here - is the only “number go up technology” I care about. #hashrate
And a +4% upward adjustment coming tomorrow. nostr:npub15n94rarp3n7dz6edx9cugeshn0kcuxtugwu9nzprkpx7yekw7ygqplqru4
Discussion
On the issue of mining, I don't have any first hand knowledge about what, if any, activity is taking place in #China.
That being said, I would strongly suspect that the government is almost certainty involved in mining. Optionality is the Chinese way and having some degree of capacity makes complete sense to me.
What I do know, and for certain, is that the P2P market to transact is very much alive and well and is done rather openly via WeChat.
Thanks for asking. I encourage anyone to reach out with any questions about China.
Interesting. Thanks. My other Q is about the implementation of CBDCs in China. Are they actually being used? How widespread? Are they attached to social credit scores? Etc
You mean this?
The #China so called “e-yuan” has been dead on arrival since launch. Possible to compete against with Alipay or WeChat. They dominate all payments.
It is now linked to a bank account though.
as long as there is electricity in a country people will mine.
i know 100% that a few laundromats in hong are mining as their children who live in the states manage the miners remotely and do so at any hash-price since they want the sats
also another family in hong kong pay a "hosting service" in wyoming and also do so at any price but have their payment invoices disguised as "server hosting"
here is a fun article https://cryptonews.net/news/mining/3598599/