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Show me ASICs getting loaded onto container ships and maybe I'll buy the transition narrative, but right now all the evidence I've seen from China only shows miner shutdownshttps://twitter.com/nic__carter/status/1406263789113184257 …
To put a finer point on it: Bitcoin mining is a physically grounded process which involves a significant hardware footprint. Insofar as shutting down Chinese mines does result in a net gain of marketshare for US, it's a "transition" in a strictly mathematical sense
yeah I mean the network is specifically designed to be elastic in situations like these - it's a weird spin to present it non-neutrally much less positively
what was the impetus for china shutting down miners? i think i missed this somehow
Regulatory crackdown, provincial governments have been deputizing electrical utilities to stop feeding power to miners
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