Interesting Crypto & Bitcoin fact !

[teminalibug 309]

On 3/21/2020 at 5:41 PM, Readmm said:

Of course, if we talk about the price necessary to mine 1 bitcoin, then yes, in China it is much easier to do, because even the government supports cryptocurrency mining there.

What surprises me is how could they support crypto mining but crypto use prohibit, that is so weird, don't you think?

[johant123 1559]

1 hour ago, AktarLota said:

Why in China is mining expenses cheaper compared to other countries, is the equipment at hand cheap, or is nearby in point of fact a chic tool that be able to mine bitcoin better
 

I think it's mainly electricity costs, and state subsidized mining. China "buying" the crypto mining market, like they also try to do with other markets. Still $8000 would be an attractive bottom, of course.

[BitcryptoHan 2557]

3 hours ago, AktarLota said:

Why in China is mining expenses cheaper compared to other countries, is the equipment at hand cheap, or is nearby in point of fact a chic tool that be able to mine bitcoin better
 

The equipment will be cheaper in China because they manufacture mining equipments there in their country. That also have good electricity. 

[Whited35 15285]

The first interesting fact is that Bitcoins don't grow on trees.Bitcoins are mined on the blockchain network, and they come into existence when miners successfully mine Bitcoin blocks. There is the limited numbers of Bitcoin in this existence to be mined. 

[Ali_hmwi 966]

In my country is more than this , but the question is how they can manage to sell the Bitcoin in the price of today that is a lost, if the halving didn't give a good price for Bitcoin I do not think alot of people will still minning for a price will not recover their losts.

[BrolySSJ 7899]

This is very interesting. This means that the crypto cloud mining contracts that are offered in china will still be at a reasonable price and therefore people will still be able to make quite a decent amount of bitcoin and mine then despite the halving even that is set to take place. And mining will also become more profitable for china as the halving event will also most likely increase the price of bitcoin as well.

[guatazoo 7150]

On 4/4/2020 at 1:34 AM, Ganhanmarin said:

Corona virus can nor do anything with crypto again, the price I now stable and showing support for increase. The virus also will be gone.

We hope that this viruses must be disappeared in trust with god, but they cannot disappeared suddenly, so that's till the day they have disappeared permanently, there must have biggest impact in bitcoin.

[iloveyobit 6599]

Yes, the cost of bitcoin mining varies from country to country and also from region to region. The price of the local currency plays a role in determining the price of bitcoin in turn, thank you for the information.

[Amir Vao 341]

On 11/12/2019 at 1:53 PM, Ajlovez7 said:

As per reports world average cost for mining 1Bitcoin = $7275.798

After halving in 2020= World average cost will become $14551.59 per Bitcoin. But China's average cost will still be under $8000.

Fun fact as per this report it costs $3172 to mine 1bitcoin in China (Where majority of bitcoin MINING happens),which was also Bitcoin bottom of 2018.

Source- Google and crypto India telegram

China has great technology. Always they invent many gadgets. And their products popular and cheaps. I think this is the main reason for their cheap mining cost.

[Laboni 755]

There is no fact between attractive crypto and bitcoin. The price of Bitcoin will increase a lot. Bitcoin is pumped a lot by eating drops every year. The price of Bitcoin would not have come down so much if the crypto market had not been affected by the virus. It was expected to pump earlier this year.

[koussai999 1986]

You are my friend's right
The cost of mining varies greatly between countries, and this depends on the price of electricity in the country to be mined
  Indeed, we find that China is one of the best countries in terms of price

[Dmasked 1840]

Having large number of miners have created a major influence of China in bitcoin markets. The price per bitcoin will be lower than other countries as you stated but the most interesting and a bit troubling fact is that China can alter or manipulate the price to large extents which is not healthy for btc markets.

[Rezort 846]

Well, the price of bitcoin of 14000 it really becoming a true because right now bitcoin is close to 10 thousand and I hope that it is going to only grow in the next days.

[BitcryptoHan 2557]

2 hours ago, Rezort said:

Well, the price of bitcoin of 14000 it really becoming a true because right now bitcoin is close to 10 thousand and I hope that it is going to only grow in the next days.

Bit coin so close to $10000 but to predict it will get to $14000 is not fully right because, the price of bitcoin may actually not get to $14000 before it drops. And it can drop a little and  later increase above $14000. Trades shout be at alert to make use of the period of increase and decrease of bitcoin price.

[Zaino34 0]

Thank you, my friend, for sharing this information. Of course, the cost of bitcoin mining will affect its price and the half-time. This is a special period for bitcoin. Now the price is acceptable. I hope that the price will increase after half and exceed $ 15,000

[Honny143 13612]

Bitcoin mining is not affordable for every country because the production cost of mining is high, but china is well developed nation so their government provides cheap prices of electricity, so China miniers mines bitcoin in half prices, and they earn good profit in mining.

[Omar Ommeish 4872]

Mining is getting more difficult because its rewards decrease over time, so I think the number of minerals will decrease and China will contain the largest number of them.

[Zalaks007 543]

This are very interesting facts. I really hope the price of bitcoin should pump very soon because the market have been bearish for a while now and that the halving should occur soon too.

[TimopheyKa 3900]

Of course, it is very funny, but it turns out that bitcoin is much cheaper, and you can sell it for twice as much! Isn't that cool? I think this is a very interesting system, and after halving the price will become more stable!

[Rahul11 292]

On 11/12/2019 at 1:53 PM, Ajlovez7 said:

As per reports world average cost for mining 1Bitcoin = $7275.798

After halving in 2020= World average cost will become $14551.59 per Bitcoin. But China's average cost will still be under $8000.

Fun fact as per this report it costs $3172 to mine 1bitcoin in China (Where majority of bitcoin MINING happens),which was also Bitcoin bottom of 2018.

Source- Google and crypto India telegram

For that many miners worried about it that after 2020 halving what will they do. Many mining farm will shutdown because of over cost. If bitcoin price won't rise more miners will leave the market. 

[Iriswolfgang 200]

On 11/12/2019 at 3:53 PM, Ajlovez7 said:

As per reports world average cost for mining 1Bitcoin = $7275.798

After halving in 2020= World average cost will become $14551.59 per Bitcoin. But China's average cost will still be under $8000.

Fun fact as per this report it costs $3172 to mine 1bitcoin in China (Where majority of bitcoin MINING happens),which was also Bitcoin bottom of 2018.

Source- Google and crypto India telegram

This fact is great because many people here in cryptocurrency font know this and I think that it is about time that they understand and know this because it is so much interesting to know and to learn something new here in cryptocurrency 

[Virgil dijk 1431]

Well the rate of miners in China is high and I think China has legalized mining of bitcoin in their country, bitcoin halving has occurred and soon It's price might rise to the moon.

[malik6314193 5449]

Interesting. I think this due to cheap electricity in China. But only electricity price can't produce such difference in mining price. 

After halving price of bitcoin will increase if this is not happen then minners will stop mining.

[Guru2050 8284]

Considering the figures published in above statement, it's no longer a news China seems to be most enabling environment for mining BTC and this is why majority of BTC minners are in China. 

[P A Ashif 2409]

It's quite interesting fact. And I will surely Google it because I want to know more about it. How this difference in mining came. Does this means China have better miners than the whole world. Or Chinese government is supporting the miners. But if is the Chinese miners will mine in so less cost then it's good for China.