as major hosts of cryptocurrency mining. AntPool, antpool is another Chinese based mining pool, maintained by the asic manufacturer, BitMain. Having so much mining power incorporated in any single nation uncovered the Bitcoin system to a stressing level of political hazard. Mati Greenspan, an analyst with eToro in Israel, said any ban by China would cut a key supply of cheap electricity for the industry and raise the average cost to mine bitcoin. Caixing today, which stated electricity supplier in Szechuan province had said Bitcoin mining was now illegal. Other bitcoin traders said they were not surprised by the government's move.
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Withdrawal of Chinese mining power could mean even slower processing of transactions in the short term, some fear, while others hoped a more permanent ban would result in increased decentralization of the mining process. The news service has also reported on hundreds of mining computers being seized by the authorities following claims they were responsible for abnormal electricity consumption, threatening the smooth running of local power grids. While Caixin mentions punishment for nonconformity, it remains unclear as to how wide-ranging the scaling back of mining will. The National Development and Reform Commission's intervention appears to have had little effect on the value of Bitcoin. In recent years, most of the news has been negative, which wont surprise too many people. However, in the near future, it may replace its chief operating officers Jihan Wu and Ketuan Zhan. Russia to get in on the action. One method which has been increasing is a reverse merger in Hong Kong as IPO hopes fade. Antpool has mined nearly 20 of all blocks over the past year.
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