China controls Bitcoin through ASIC manufacturing and Mining Pools. Why doesn't anyone care? If anyone really did, then we'd have a legitimate competitor to BTC.
Wait a second we do :) VeriCoin and Verium Reserve are two coins from the same project. VeriCoin is Proof of Stake and Verium Reserve is an ASIC and GPU resistant POW coin. Both coins will have their blockchains interwoven to bring the strengths of each consensus mechanism without the downsides of either in what they are dubbing the Binary Chain. VeriCoin and Verium Reserve will gain adoption because the binary chain means they're profitable for the average user to mine or stake. The genius of combining two different crypto assets (Proof of Work for Verium Reserve and Proof of Stake for Vericoin) on the same blockchain means you get the best of both worlds: an ultra fast, low fee currency that earns passive income (VRC) but it is as secure as other POW coins because of the aux POW mining from VRM which is POW, but ASIC and GPU resistant, as well as offering pooled mining straight from the wallet so no need to rely on centralized mining pools as is the case with Bitcoin. With Bitcoin participation in the consensus mechanism requires an asic miner which is expensive, not easy to operate, centralized by the few companies that manufacture Asic miners, and even further centralized by the few mining pools. Conversely, with VeriCoin all you need is an open wallet to participate in the consensus and earn coins, and with Verium Reserve any CPU can mine. VeriCoin and Verium Reserve was designed to have an ultra low barrier to entry for participation in the network and passive income. This project is definitely worth a look if you're looking for low cap, moonshot gems. VeriCoin Market Cap 9/12/2019: $1,704,000 Verium Reserve Market Cap 9/12/2019: $288,000 When the bull market commences, I'll see you all on the moon!
People are starting to realize how centralized Bitcoin is because of the many ASIC mining pools located in China
I've noticed a handful of posts on cryptocurrency where people are discussing the current problem BTC faces today with so many ASIC pools being located in China. This is a legitimate problem with Bitcoin, if these pools collaborated to hijack the Bitcoin network, they could do it. An example of one of these posts is here: https://www.reddit.com/CryptoCurrency/comments/d2pmwb/honest_doubt_here_whats_stopping_china_from/ We should be taking advantage of these opportunities to educate people that there is an alternative with VeriCoin and Verium. Proof of stake is where this market is heading, it's why Cardano is POS and Ethereum is in the process of switching to POS. And for all the haters of POS, Verium Reserve has what could be the best implementation of POW since it is not only GPU and ASIC resistant, but also will have "Mining Shares" directly from the wallet, so no need to use centralized pools! Wake up VeriCoin community! This project has the solution that this market needs, people just don't know we exist.
MicroBT China Brings Mining Equipment Closer to You. MicroBT’s miners can be used to mine cryptocurrency that runs on the SHA256 algorithm, such as Bitcoin and Bitcoin Cash. The five ASIC miner models, M20S, M10, M10S, D1, M21, can be purchased directly from their official website.
Bitcoin-Mining in China: Regierungskommission schlägt Verbot vor Noch findet ein erheblicher Teil des Kryptogeldminings in China statt. Doch eine Regierungskommission hat nun ein Verbot angeregt. ASICs rendered GPUs useless. ASIC developers, including Bitmain, granted early access to large mining cartels rather than the average person. Nowadays, a large majority of Bitcoin mining takes place in China where electricity is cheap. Thousands of ASICs all mine simultaneously in a mining farm (large warehouse). Evidently, most people can’t ... Also Read: Mining Report Shows 65% of Bitcoin’s Hashpower Stems From China. SHA-256 Hashrate Grows 80%, ASIC Hardware Improves, and 70% of the Mining Industry Leverages Renewable Energy ... In life, they say that you can only rely on death and taxes. While this may be true, I’d like to propose a third: that China will always be the Bitcoin mining capital of the world. In fact, it controls up to 80% of the world’s total hash rate, is responsible for manufacturing the vast majority of mining equipment and is home to some of the world’s largest mining farms. Check out ASIC Bitcoin miners such as Dragonmint miner or The Antminer S9. DragonMint B29 and Antminer S9 . In addition to high speed, manufacturers must provide a low hash price. It means that the performance of the facility will be high. Here are reliable brands to watch out for. Bitmain technologies. Bitmain. This brand is created in China and produces reliable Bitcoin ASIC chips. The most ...
We looked inside a secret Chinese bitcoin mine - YouTube
How Bitcoin in China Is Subverting the System - Duration: 22 ... Exclusive visit to ASIC retailers in China - Duration: 8:19. Asia Crypto Today 2,928 views. 8:19. Language: English Location ... In 2014, before Ethereum and altcoin mania, before ICOs and concerns about Tether and Facebook's Libra, Motherboard gained access to a massive and secretive ... Bitcoin Mining is the execution of mathematical calculations by computer hardware to confirm Bitcoin transactions and increase security. As a reward for your services, Bitcoin-Miner may collect ... Detail: https://goo.gl/1dk2l1 One of the world's biggest bitcoin mines is in Inner Mongolia, China. Quartz Tech Reporter Joon Ian Wong describes his rare trip inside. The mine is operated...