Discover and read the best of Twitter Threads about #Bitmain
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Both @DigiEconomist and @CambridgeAltFin make their data available to the public. I have had both data sets integrated into my Bitcoin model since early 2021.
Here's what happens when you combine their electricity estimates with historical network hashrate data.
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Here's what happens when you combine their electricity estimates with historical network hashrate data.
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Both data sets assume that the Bitcoin mining network now is LESS efficient now than it was two years ago in 2020.
@DigiEconomist model was showing that at the time of the China Mining ban, the #bitcoin network was operating at the AVERAGE efficiency of a 5 year old Canaan 741.
@DigiEconomist model was showing that at the time of the China Mining ban, the #bitcoin network was operating at the AVERAGE efficiency of a 5 year old Canaan 741.
Due to the undisputed fact that #bitcoin miners become more electrically efficient over time, the only way for this inefficiency to increase is to replace newer more efficient machines with older less efficient machines.
Some thoughts about the impact of China's policy on #Bitcoin mining industry:
The current situation of #Bitcoin mining in China is not as serious as you think.
The current situation of #Bitcoin mining in China is not as serious as you think.
According to the minutes of "China Financial Stability Board": We resolutely prevent and control financial risk.... we shall crack down #Bitcoin mining and crypto trading activities in order to prevent individual risks from being spread to the social level.
From there, we can see that the main spirit of the meeting is to "prevent and control financial risks", to restrain social capital from flowing into #crypto mining sector which might lead to risks tranferring from individuals to the whole society.
In yet another blow to #Bitmain, @caijing (a major Chinese financial publication) just published an exposé on the #BitmainIPO debacle. m.caijing.com.cn/api/show?conte…
To sum it up: 1) Alleged Q2 losses in the $600-700 million range due to BCH holdings 2) Tencent and Softbank have denied pre-IPO involvement 3) Team behind S7/S9 now at Whatsminer 4) AND lost a patent case against Whatsminer
Yang Zuo Xing was the former director of design at Bitmain, and the supposed brains behind the S7/S9 miners. There have been serious concerns about whether Bitmain will be able to continue to innovate and produce miners at the same caliber without him leading the charge.
#cryptocurrency adalah alat tukar yang menggunakan kriptografi untuk pengamanan transaksi dan penciptaan unit baru. wp.me/p92q0f-eQ
Untuk bertransaksi dengan #cryptocurrency, pengguna memakai kunci privat yang tersimpan dalam dompet kriptokurensi. wp.me/p92q0f-eQ
#cryptocurrency diklasifikasikan sebagai subhimpunan mata uang digital, mata uang alternatif, dan mata uang virtual. wp.me/p92q0f-eQ
