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Those ASICs don't evaporate when shut down. China could now seize them and actually pull off a 51% attack.

• celticninja 5y ago
  They are not seizing them, they are being shipped abroad to nations where they can be used to mine bitcoin.
  • lovemenot 5y ago
    Any idea which countries they will be going to? It would be great if for example Iceland which can produce surplus base-load renewable power without significant impact to its population.
    • celticninja 5y ago
      Kazakhstan has been mentioned due to proximity I believe and also Texas, there has been a lot of interest in using the natural gas flares from oil wells to run them as this is currently a waste product.
      • baybal2 5y ago
        Kazakhstan has 1% tax rate for "datacentre services" and extremely subsidised electricity on top of 90% of it coming from co-generation plants. Not for long https://kursiv.kz/en/news/rynki/2021-05/kazakhstan-plans-cancel-tax-free-regime-miners-and-data-centers https://kursiv.kz/en/news/rynki/2021-05/kazakhstan-plans-can...
      • lovemenot 5y ago
        In my limited understanding those flares are necessary to preserve the safety of workers and equipment on site. If they were able to provide useful power, they would already be doing so.
        • celticninja 5y ago
          You can put the miners in a portable data centre and place them on site, what you can't do is transport the natural gas any significant distance to use it for power generation. 'If the mountain will not come to Muhammad, then Muhammad must go to the mountain' https://www.reuters.com/business/sustainable-business/oil-drillers-bitcoin-miners-bond-over-natural-gas-2021-05-21/ https://www.reuters.com/business/sustainable-business/oil-dr... https://oilmanmagazine.com/how-and-why-natural-gas-flaring-is-being-used-to-mine-bitcoin/ https://oilmanmagazine.com/how-and-why-natural-gas-flaring-i...
    • deleted 5y ago
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