Why China’s Tough Stance on Crypto Mining Is a Boon for Miners Elsewhere | WSJ
Vložit
- čas přidán 14. 07. 2024
- Cryptocurrency miners in China are turning off their machines after Beijing warned it would tighten its control over the industry. This has created an opportunity for miners elsewhere, as the power behind crypto becomes less dependent on one place. Photo illustration: Sharon Shi
More from the Wall Street Journal:
Visit WSJ.com: www.wsj.com
Visit the WSJ Video Center: wsj.com/video
On Facebook: / videos
On Twitter: / wsj
On Snapchat: on.wsj.com/2ratjSM
#WSJ #China #Crypto - Věda a technologie
99% of the people who made it in crypto rose from the
ashes of a 3 year bear market, real traders pray for real
bear market because it is called shopping time.
A real bear market is exactly what i was/am hoping for by
having the opportunity to buy the real dips on good project.
I am looking at investing in something solid for long term,
have about $35k sitting in my saving, what do you think i
should be buying?
Can she help me?
thats a lot of monev and i don't think vou
should be buying anything without proper guidance. I got
into the market with $25k, but with the quidance of
Katherine Rae Lobe a coach who helped me grow that to
over $65k in 7 months.
no please, i rather pray for a market that perpetually goes
up. way easier.
Me waiting for cheap graphics cards
My big take away from this video lol. Bitcoin will reach its cap sooner than later, then the cards will belong to the gamers again.
U could buy the second hand graphic cards from these ex-bitcoin miner for a very cheap price, even if the performance a bit down it's still high end graphic card for only several dolar
@@alexejvornoskov6580 my man, he said he wants cheap graphic cards, they sell it bcuz the condition, not bcuz it's already broken, ofc its performance have been decreased, but still, it's high end graphics cards for a very cheap price
@@LindwyrmSlayer mining made gamers not become a priority
@@khein2204 what I think is that they concentrated on miners not gamers who build the economy of graphics cards
INVESTING IN CRYPTO NOW IS VERY COOL EXPECIALLY WITH THE CURRENT RISE IN THE MARKET, ACT NOW.
That is true I've been trading for years and it has been my source of income,
I earned $89,400 on every 19,000 I invested with 7days trading,
Don't remain poor out of ignorance forex trading is lagit and it's pays
And I think the better day has finally come invest in forex trading and ragain your balance.
Conversation like this will help beginner not to make mistakes investing with a wrong broker,
Hello, I'm new to Bitcoin trade and I've been making huge losses but recently I see a lot of people earning from it. Please can someone tell me what I'm doing wrong?
That is true, you need an expert broker and account manager to make good profit from Bitcoin trade.
I invested $6,000 with her and earned $33,000 in period of 3 weeks of trading with her.
Many people are afraid to be invest because of the scammers in the business
Always recommend Mrs Charlotte's to everyone who needs the service offer
Professional account manager to manage their Bitcoin investment because she has really helped me recover all that I've already lost.
I have never heard or seen any of her clients complain of lost.... She's just too trustworthy and professional.
Cryptocurrency mining benefits no one except the miners at the cost of the society and environment.
It made sense when it was small scale where this unregulated currency market existed if you needed it, but these days everyone is using it as an investment vehicle and playing zero sum games pumping altcoins or wielding technicals.
In what ways do your personal practices benefit society and the environment?
so the same to gold mining :-?
@@louistran016 Yes? It's not either or.
Most mining uses renewables like solar and geo thermal. How many of the millions of bank branches and ATMs use renewables?? So next time actually do some research so you don't look so stupid.
"China is cutting bitmining, in part to help the environment"
Wall street - "screw the environment, my virtual money cant breath or catch fire"
It's not just for the environment. Chinas power grid has had problems from miners, processor shortages caused by high crypto prices and creating new industry that is not highly controlled by CCP are some of the other reasons.
It's about control. Not the environment
@@JohnSmith-ox3gy they steal electric dummies, not because they uncontrollable. There's paper for how tracking crypto. Moron
@@alansinker3737 Really? you knew everything of what's going in China more than experts who've been studying political science and international relations for decades? genius.
@@alansinker3737 of course, descendants of colonists who stole and robbed know better.
The amount of time we spend believing we
can't is more than enough time to learn how
you can.
Stock's are crashing, Bitcoin Investment right
now will be at every wise individual list in a
month you we be ecstatic with the decision you
make today
Stocks are good but crypto is better
2021 online stock is just difficult and
unbelievable, I'll rather invest my money on
crypto
People are ignorant of the profitability in bitcoin
Investment and that had been their major
issues limiting their Investment
positive reply from you
The chinese version of TikTok? TikTok is Chinese..
I love that they are centralising BitCoin, it was supposed to be for the people, not for big actors.
Don't tell them, people even believe Genshin Impact from Korea but dont tell them not.
Keep it quiet XD.
Bitcoin is still decentralized. What China is doing is developing a separate centralized digital currency also based on blockchain. So are other countries. They are called CBDC central bank digital currency. The question is whether CBDC's will prevent Bitcoin from becoming widely accepted ever.
@@slomo4672 - I know that, no need to explain CBDC to me. Soon BTC is "decentralized" as in controlled by a few big actors... So few in fact, that FBI and others alliance agencies could now soon easily confiscate networks, put them together and manipulate or do a takeover to shut it down. Its called a 51% attack and is possible for governmental agencies with the right know-how. All that is needed is a few more attacks on American infrastructure with ransomware, that demands payment in such crypto, and you will experience the wrath of the USA.
@@slomo4672 Why would anyone use CBDC besides the communist Chinese? The beauty of BTC is it is independent of all nations. It is freedom in its purest form, just like gold's value was independent of any nation state. That is why most countries hate it. It is a direct attack on the power of the nation state.
@@thegeneralist7527 Well what they are doing is creating a digitized currency of their yuan and replacing cash. I don't think they care whether other countries are conducting business in their currency as that is not the main purpose of their CBDC.
I'm actually tired of working about stocks...it's driving me nuts these days, I think crypto investment is far better than stock..
Trading crypto has been a lucrative way of making money
Stocks are good but crypto is more profitable
I'm new to forex trade and I have making huge losses but recently I see a lot of people earning from it. can someone please tell me what I'm doing wrong
all you need is a professional trader else you will continue making losses
How can someone know a professional account manager that is trustworthy when legit once are hard to find this days
My trading journey was a matriculation of highs and lows, literally just like the market. you up, you down. Now I'm constantly up.
I have heard a lot about investments with Stella and how good she is, please how safe are the profits?
@John marvel wow that's very nice Please how can i be able to reach out to your broker, my income stream is in a mess. pls
Pls how I can get in touch with this Expert Stella ?
@John marvel Thanks for his info I'll contact her right away☺️
I've never seen someone as perfect as Mrs Stella she knows how to analyze trade, and with her strategies she has earned me €16,835 in 18 days of working with her.
Bitcoin is not environment friendly
stop believing everything you read on Internet.
@@Saaad2 speak for yourself
Fiat currency is not environmentally friendly. Consumerism is not friendly to the environment. Humans are not friendly to the environment....
Cool don't buy, don't use
@@Saaad2 The truth is the truth you can not debate it.
First time that China is being clean before the western countries, with pollution going from China to the US this time around.
Chinese government realized that the CIA is behind the Bitcoin boom. Otherwise, they could careless about "being Clean".
@@michaelb9940 really proof ?
@@thisismarkbro have no doubt. There is no “satoshi Nakamoto” the perfect Pseudo name.
The Chinese government started the Belt and Road Initiative., and started their territory in the African nations.
The US responds with Bitcoin (BTW a far superior way of colonizing the world) as it’s dealing with digital asset. And have you noticed the few countries that have actually implemented Bitcoin as their currency are amongst the South American nations. This would be the USA territory.
IF (and a BIG IF) it succeeds - it will far surpass China in Global power house.
The Chinese responded by banning - yet their own mining companies are fleeing into the US and other nations.
Time will tell. But the day that the US gov accepts digital currency / think of this message I shared With you today ;)
@@michaelb9940 false. Bitcoin was created in 2009. Belt and road was created in 2013.
They don't care about pollution. The government can't control Bitcoin and doesn't want competition with it's own digital currency. They don't give a shat about the environment.
TRADING BY FEEL IS NOT A GOOD IDEA WHAT TELLS YOU TO BUY OR SELL? Okay what tells you the trend is done you must exit please tell me that?
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
I will advice you should
stop trading on your own if you keep losing and start trading with Mrs Laura Morgan trading services
I lost £1200 carelessly trading on a
platform then I was referred to Mrs Laura Morgan she recovered the loss and made an extra profit of £4600
Wow I'm just shock you mentioned and recommended Expert Mrs Laura I thought I'm the only trading with her
@@carlosbryan1109 You don't need to be shock because I'm also a huge beneficiary of expert Mrs
Laura
Bitcoin has Zero Value however incredible amount of power & computation resources are poured into it. Feels good to hear this news.
You forgot one of the most important cryptomining locations, Iceland
As the price of Bitcoin increases, more and more coal will be burnt to power crypto mining.
This is 100% incorrect
"Coal-powered bitcoin mining soars in Kazakhstan"
"Bitcoin Miners Are Giving New Life to Old Fossil-Fuel Power Plants"
"Some states lure crypto miners to keep their coal plants alive"
How much coal is burned to power Visa transactions and online banking?
Most of energy used to mine bitcoin is renewable.
Considering the report just released about climate change, Cryptomining being made illegal is one quick, easy win ALL governments should do. BTC mining alone surpasses the power requirements of several countries!
Mrs Charlotte's is legit and her method works like magic I keep on earning every single week with her new strategy.
I'm from Germany I used to take loan from the bank for surviver but after trading with expert Mrs Charlottes she changed my financial status for real
I'm now a creditor not debtor anymore
Sometimes I wonder if she's used magic power trade
I've never heard or seen any of her clients complain of Lost....I think she's just too perfect
Hello, anyone there👋
I doubted you at first 👆🏽👆🏽👆🏽but to my patients you surprised me with the funds instantly you are the real man to deal with
What a waste of resources
I'M NEW TO BTC AND I'VE BEEN MAKING LOSSES TRYING TO MAKE PROFIT MYSELF IN TRADING...I THOUGHT TRADING DEMO ACCOUNT IS JUST LIKE TRADING THE REAL MARKET... CAN ANYONE HELP ME OUT OR AT LEAST ADVISE ME ON WHAT TO DO?
Well...I will advise you should stop trading on your own if you keep losing and start trading with an expert because trading with an expert is the best strategy for newbie...😊
Venturing into trading world without the help of a professional trader and expecting profit is like turning water into wine lol... You would need a miracle, that's why I started my trade with expert Mrs Linda fx
@@everlychloe1787 That's true most people today have been having a lot of failure in fx and crypto sector because of had orientation and bad expert
@@peterlaurel1749 I lost £1200 carelessly trading on my own then I was referred to Mrs Linda she recovered the lost and make an extra profit for me
@@lincolneaston4366 Wow it's great to see other's who also benefits from the service of Mrs Linda I'm currently on my 5th trade with her and it's a nice experience.
Using ☝️☝️ is my best decision ever
The Winning Chance in crypto mining lottery, is proportional to the number of your mining computers, divided by the total number of mining computers worldwide.
You adding more computers, your neighbor adds more computers, you still end up with the same small chance. The denominator is just way too big....
Good video 👍.
This will also affect the value of Yuan that's why it's a smart move of China
most of these Chinese mining companies are already in cape town
The world is heating up, and literally burning(Greece, turkey). We keep burning coals to give electricity for....bitcoin farms? 😢
that's why. It's literally a waste of energy that gives us zero benefit, Only driven by greed and selfishness.
Nice video.
Question: what will happen if bitcoin reach the mining limit? Who will do the calculation then?
Where could you get an S9j for 5k?
Prolly straight from china if you know a guy who knows a guy
Bog: president xi, use the exact same China FUD.
*Xi bows down to Bogdanoff*
Bog:see through it.
Iran also banned crypto mining because they have subsidized electricity. Tehran was losing a lot of money due to crypto mining.
BitCoin mining is a waste of computing resources. The Chinese government appears to be making a very smart move.
cryptocurrency is the future wether you like it or not,
Your post is a waste of computing resources.
@@Riguintantrix Lol! So true.
Yup it's worthless
you forget the brownouts cause by the crypto mining, due to the use of overwhelming power
You guys are as viscous with China as you are with amazon
Really ! !? How come the price has come down for the bitcoin .
yeah but have yall have heard about 'Proof of Stake" ? no electricity
All the major crypto assets are not PoS
After central banks put digital currency they will cut trading platforms for crypto then GG.
I Wonder What Complex math problem are they solving on the Bitcoin network when no legal system is using it🤔🖖
there is no complex math problem its just bunch of random guessing numbers till u get the right answer
The power consumption is absurd. Ya all realise there are green alternatives right?
I believe that this time China does the right thing to protect the environment. The whole bitcoin thing reminds me of the tulip mania in the Netherlands history.
Why not use the mining power to crack lottery?
Question: Who formulates these math problems that miners need to solve? Who decides they are complex enough? Are these unanswered problems in the realm of mathematics whose solutions contribute to the field of mathematics or are these just difficult math problems (with solutions already known) that are just being tossed out at random?
That is my question also, thank you for posting this.
The bots have hiccups.
Greatest waste of electrical energy resources
El Salvador’s Bitcoin wallets were shut down and the Lightning network failed the first day for its citizens. Here’s why that’s a good thing
WHOEVER THAT'S READING THIS , I PRAY THAT ONE DAY YOU WILL REACH YOUR DREAMS.
ALWAYS KNOW THAT THE SECRET OF YOUR FUTURE IS HIDDEN IN YOUR DAILY ROUTINE. SUCCESSFUL PEOPLE DO DAILY WHAT THE UNSUCCESSFUL DO ONLY ON OCCASIONALLY. That's why the rich invest and the poor don't.
to be successful in life there must be some vitals game to play by following the link of the rich ones as your mentor and always try to be good with them as your mentor so that you can get to the successful point you are aiming.
That’s the fact ma.
Successfully people don't become that way over-night, what most people are see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time.
Most times having knowledge or insight a particular activity can as well be a best exercise.
I can boldly say that forex is one of the profitable money exchange services that elevates investors and their financial status
Me waiting to see if miner sell their rtx 2080 cheap.
Me with my 7870xt literally dying when playing csgo: BRUH
Plz make videos with the aspect ratio 20:9
Why ?¿
Chinese video games player : clapping
CCP: Why ore you clappin?
CCP: Gaming ban imposed
I really appreciate your efforts for making me and my family happy for the amount I’m forever grateful to
lol there are so many Crypto bot in every video with Crypto in the title
Wait the Chinese version of “Tik tok” isn’t even called tik tok?
It's "Tik Tok" after all. But having different regulations, Tik Tok has servers in several countries, one of which is in the United States. While Chinese Tik Tok/ Douyin, located in China. If Tik Tok complies with US regulations, Douyin complies with Chinese regulations.
When I remember the day I met 👆🏽👆🏽I'm always happy
Actually douyin is tiktok
Douyin🙂
This the reason I was ripped off from buying nvdia
Chinese version of tiktok? but tiktok is chinese
So you can monopolize crypto simply through centralizing the majority of production in say…China. Wasn’t the point of this technology to decentralize it, so it reaches the “people”?
Welcome to China.
Crypto just needs to be banned world wide.
No, decentralized networks for everything is one of the best futures for humanity.
That's because they have no coal to produce electricity, they got into a fight with Australia and stop buying their coal that's why lol
Monsta Infinite will be the No.1 NFT Game with only a 37 million Market Cap and its marketplace has just launched!
How can i get in touch with him..>>
adamjoel VlA Te le gr am,.📧📧📧
This is exactly what Big time investors are talking about, not just you. key thing here is to always trades with a good strategy even if the price goes up or down.🚀🚀...🙏
My first experience with Mr Adam Joel gave me the assurance that has made me to invest without fear of loosing, I got four of my friends involved with him already......
I was able to grow my portfolio from 4 btc to 6tc, Adam Joel told me I could have made more though, my work has just been so demanding... truly crypto has changed it all and i'm loving this race....
China doing good things trying to reduce carbon footprint , but miss out being able to hold a big piece of the bitcoin pie for themselves
@Travel Crawl I hope it will get you too. Thanks for your sacrifice
@Travel Crawl Yeah, thanks buddy. Remember not to get the jab.
bitcoin is not important for China but Block chain does.
@Travel Crawl just blatantly racist 😂 you’re not even trying Trumpet
@Travel Crawl we Can't be sure about Corona came from china
will crypto currency exist if there is no digital pay
A lot of insult from landlord before I got referred to 👆🏽👆🏽👆🏽 I’m happy now I own a home and a brand new car
BTC for $75K by end of this year& Control
of The Currency is already Decentralised And now the China disruption would simply
Decentralise the Mining setup for the better
Because it doesn't create any social benefit and such action consumes lots of energy.
finally cheap graphics cards, thx
ok
I still don't understand what this mining is all about 🤔🤷🏾♀️
They have computers that convert electricity to money
Controlled supply.
There is a set maximum number of coins available.
To get a coin, you have to solve a math problem.
For every coin that is mined, the problem gets harder and harder to solve.
Miners also act as record keepers, so that's why all the coins weren't released at once, there's an incentive for your mining software online.
Every record keeper has a copy of the entire transaction history, so that's how it's kept secure. There's no point hacking one record keeper because the records won't match the thousands of other ledgers.
They verify the transactions that happen on Bitcoin network and as a reward, they get Bitcoins.. Now this isn't all that simple.. I mean to verify the transactions, they have to solve the complex mathematical problems so they make use of lot of computing power, more computing power means more brain and ability to solve those complex mathematical problems so the first to solve them gets the award of around 6.25 bitcoins.. let me know if you have any more questions Nyasha!
It's essentially a way to create and verify transactions without banks or governments. This is why so many governments are afraid. It's a currency they can't control or manipulate. The miners exchange computer time for the possibility of getting crypto currency.
"videos started popping up on Dou Yin, the "chinese version of TikTok" .. lol think about what you just said
It's "Tik Tok" after all. But having different regulations, Tik Tok has servers in several countries, one of which is in the United States. While Chinese Tik Tok/ Douyin, located in China. If Tik Tok complies with US regulations, Douyin complies with Chinese regulations.
farms are the complete opposite of what crypto was built for.... this is why we cant have nice toys...
Is it me, or do these Crypto miners seem sleazy and shady? Almost like a newer version of bootlegging.
Enviromental consciousness? 😬
Chinese version of tik tok? Dou yin is tic tok.
US claiming everything as usual. No surprise
Chinese version of TikTok? I thought TikTok is from China
我今天很成功，因为我摔倒时从未停止过尝试。我鼓起足够的勇气和精力，迈出大胆的一步，再次崛起。当你在财务上取得进步时，会带来如此多的喜悦。我现在的生活很甜蜜，因为她出色和出色的交易员服务，非常感谢女士给我的利润。
Just wait for the next major Solar Flare and all that money will be deleted by CMEs
elaborate please?
@@radeonportal8002 an ultra strong solar flare could destroy all the electronics chips human ever made. Like an EMP but from The Sun. It could melt all the circuitry, but probably won't affect anybody otherwise
Also China likes to manipulate the price with constant threats. They're not the only people contributing to manipulation, but they do have the most miners.
Where can i buy their equipment?
"Chinese version of tiktok", when tiktok is a Chinese company
They made a separate app, probably with built in censorship
TikTok is belong to the the company dance type that is Chinese Company and in China it was called “dou yin”
Ok
GOLD IS SAFE INVESTMENT THAN CRYPTO
sure bitcoin is "cool" but what a cost to the environment. Maybe it all just part of Elons simulation.
Stop being so stupid. The majority of mining farms use renewables like solar and geo thermal. How many bank branches and ATMs do you see using renewables for there electric?
If they conduct its mining business operation in California, within days they would force to shutdown because the amount of waste electricity usages bankrupt its business model. No nation in this crazy world would allow such energy driving businesses to exist in their supply chain. It is too costly to consumers, too costly to the environment , and there is very little value in economic term other than speculation in the form of gambling.
Boon?
Sell the cards to gamers. Seriously.
I'm 42 and my ultimate financial goal would be $4million in savings and a monthly passive income of $15,000, I've got about $230k to put in the market and I'd love to know how I could make this goal happen by the time I turn 50.
Sure, you can do that, you just need to be consistent with your investment.
@Ethan Carlson I agree, it seems you're in
contact with an investment manager, how's it been working out so far for you?
@Ethan Carlson That's great man, your investment manager must be really good, do you mind sharing more info on this person?
Thanks I just looked her up, read through her qualifications and I find her very capable, I most probably will be using her services until these market craziness is over
Just love your life, get a family. money are all worthless paper in the future
China don't need it suggestions
Kind of PNL from US FR no?
BITCOIN >GOLD>FIAT>POVERTY
As long as mining continues so will ransomware attacks
Lol they have nothing to do with each other - aside from the fact that ransomware hackers ask for payment in crypto.
@@xdjbrandox because of mining the Bitcoin price has reached all time high. If the bitcoin price falls there will not be much they can make from crypto. So the Ransomware attack have more reason to increase their activity as the price rises.
Chinese version of Tiktok?
Good! Come over here to United States so we can get rich off of it!
Investors is NEVER the #1 priority of CPC.
CPC’s primary concern is always the %95 average people.
China is a socialist country. We want some degree of capitalism to pave new ways of productivity, but we are aware of the unlimited greed of capitalism.
In Chinese words, “capitalism should be caged to do with what average people/ country need it to do; but capitalism can’t allow to abduct national interest or average people’s common interests.”
We are proud of what CPC did.
*Mrs Nelly is legit and her method works like magic I keep earning every single week with her new strategy*
Lucky I made $10k with crypto investment 😊😊
I'm from South Korea 🇰🇷 I think I'm interested how can I get in touch with Mrs Nelly
@@ezzyademu5708
I just contacted her and she attended to me nicely
I am from USA 🇺🇸 I used to take loans from the bank for survival but after trading with expert Mrs Nelly she changed my financial status for real
wow I just make my second withdraw again today trading with expert Mrs Nelly
POW is for amateurs
Imagine people wasting, resources, destroying environments, for numbers... I think bitcoin is a interesting concept. But this adds nothing to well-being of humanity.
Your 2 months late on the effect of this news
one man's loss is another's profit :( sad reality.
Only if you're a pirate or gambler.