Bitcoin’s resurgence may be short-lived

Etherised: Bitcoin’s resurgence may be short-lived

  • Last week Coinbase, one of the biggest bitcoin exchanges, declared bitcoin “stagnant” and said it would start to trade ether too.
  • Operators of bitcoin mines get 25 bitcoin (about $13,500) for every “block” of transactions they process.
  • Over 80% of new bitcoin are now minted in data centres in places like Sichuan and Inner Mongolia.
  • All the virtual mining may be playing a part in bitcoin’s rally.
  • China has also become the global hub for bitcoin mining, the process by which heavy-duty computing power is used to process transactions involving bitcoin, earning those doing the processing some new bitcoin as compensation.

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@EconoScribe: “Etherised: Bitcoin’s resurgence may be short-lived”


Bitcoin’s resurgence may be short-lived


Bitcoin’s resurgence may be short-lived