Author: Jim Phillips 2015-08-03 06:53:13
Published on: 2015-08-03T06:53:13+00:00
The issue of mining consolidation within China, a country that is not particularly Bitcoin friendly, has been brought to attention. While it is logical to increase block sizes to reduce the centralized control of Chinese miners, this could lead to higher orphan rates for non-Chinese miners due to the relatively low external bandwidth connecting China to the internet. Despite the advantages that Chinese miners have in terms of cheap electricity, accessible ASIC chips, and natural cooling, they are disadvantaged by poor connectivity with the rest of the world. To combat mining centralization within China, it is suggested that miners outside of China point to different pools and build more farms in smaller countries such as Venezuela, which offers cheap electricity, or Iceland.
Updated on: 2023-06-10T18:03:57.959757+00:00