Minors chinese crypto-currencies are becoming more confident in outsourcing

An increasing number of children chinese crypto-currencies exploreraient other jurisdictions in which they may operate. Indeed, in the face of the growing uncertainty about the industry, from the mining of crypto-currency in China, they have no other choice. Although the chinese government has not indicated that it would extend its crackdown to the industry mining of crypto-currencies, many people are planning already to other horizons. Vietnam, Laos, Thailand, Russia and the United States are part of the places most sought after by the miners and the chinese crypto-currencies.

Peggy and Marco Lachmann-Anke, Pixabay

A problem that is a major energy

Last week, a press release of the electricity company belonging to the State in the chinese province of Sichuan announced, by mistake, a ban on the activities of mining of crypto-currencies. Although the company has sought to downplay the statement, saying that the document included an internal note addressing the poor allocation of hydroelectric energy with respect to the miners of crypto-currencies, and non-rural communities that are underserved, many juveniles are increasingly being explored by the international offers. This, in the aim of reducing their vulnerability to regulatory actions of the chinese government. Today, we know from a reliable source that many miners of crypto-currencies have already done tours in Vietnam, Laos, Thailand, Russia and the United States, and some have even already begun negotiations on the price of electricity with the local authorities.

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A relocation inevitable

It is estimated that the minor chinese produce about 70% of the power mining total of Bitcoin network. Thus, the guarantee of a reliable energy source is the main concern of the miners. Each machine can generate about 100 yuan (15 USD) of earnings per day. This means that the financial losses incurred by the use of equipment unused can be important. Consequently, many miners of crypto-currencies seek to prevent an intensification of the suppression of virtual currencies in China seeking to relocate their activities abroad.

Source : News.Bitcoin