Crypto mining's upcoming ban in Inner Mongolia may help explain Bitcoin's recent resurgence

[Redaktion]

Inner Mongolia is an autonomous region of China with an economy best known for cheap power. It has thus reportedly become a magnet for cryptocurrency miners. Apparently, the region does not appreciate this attention, having just outlawed the practice.

https://www.notebookcheck.net/Crypto-mining-s-upcoming-ban-in-Inner-Mongolia-may-help-explain-Bitcoin-s-recent-resurgence.525928.0.html

[S.Yu]

lmao, Inner Mongolia is one of the stagnant regions in northern China that previously only had natural resources to move its economy, now it's banning a major new growth point, what can I say.

[L]

@S.Yu
What growth point? Big warehouses with one person which are there only because of cheap power. That's not industry, that's opportunistic and they will move as soon as another region with cheaper power is found.

[DetroitEscapee]

Sh*tcoiners on suicide watch. 8)
Oh, and f.yu, S.yu.

[josh]

 :-\ :o Its the 4th fastest growing province out of 31; its hardly stagnant. Further, cryptocurrency mining is not a viable economic growth method.

[S.Yu]

@S.Yu
What growth point? Big warehouses with one person which are there only because of cheap power. That's not industry, that's opportunistic and they will move as soon as another region with cheaper power is found.

How are these different from server farms? And there doesn't have to be a region with cheaper power. There's a lot of wind there and room for capacity growth, however it will not grow as fast without people to make use of it.

Sh*tcoiners on suicide watch. 8)
Oh, and f.yu, S.yu.

And a good F*ck to you too ;D

:-\ :o Its the 4th fastest growing province out of 31; its hardly stagnant. Further, cryptocurrency mining is not a viable economic growth method.

lol, I think you and I read from the same source but you read it backwards. from 2010-2018, out of all 34 provinces and municipalities (including Taiwan), Inner Mongolia ranked 32, only faster than Taiwan and Liaoning.
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Actually it's certainly not the same source, except mine makes sense:https://www.douban.com/group/topic/162553942/ and whatever source you read you probably read it backwards. There's absolutely no chance that the northern resource-oriented economies are experiencing healthy growth.

[ccp-is-bad]

(including Taiwan)

YIKES

[S.Yu]

(including Taiwan)

YIKES

Yeah it was compiled by a Chinese source and it's very much PC by Chinese standards.