Quote:
Originally Posted by Saski
Although on a global scale Asia represents a drop in the ocean compared to the wider crypto market. Not to mention there are several advanced countries with massive crypto mining facilities already in operation on a considerably much larger scale than in say in China or other Asian countries which to me says that there is still a strong demand.
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According to the sources listed below, the largest pools of Bitcoin miners are located in the following countries:
China 81%
Iceland 5%
Japan 3%
Czech Republic 3%
Georgia 2%
India 2%
https://www.buybitcoinworldwide.com/mining/pools/
https://blockchain.info/pools
Sweden had a large outfit but they declared bankruptcy last year because mining became unprofitable due to China’s comparative advantage in low power costs.
The alt coins are likely to have similar mining pool locations; and if they aren’t now, they soon will be as the miners in those places start looking to expand their business and look for new revenue sources.
Apparently, these Chinese miners already have a sufficient majority to veto consensus for new features, such as Segwit, to be activated in the blockchain.
Unregulated and decentralised and as a result an unreliable instrument for doing business.