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    Author Topic: No..China Does NOT Have 0% of the Hashrate  (Read 567 times)
    stompix
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    December 22, 2021, 08:47:57 AM
     #21

    The same cybersecurity company also stated that as much as 20% of the world’s bitcoin miners are estimated to still operate within China. The provinces of Jiangsu, Zhejiang, Guangdong, and Shandong are where the majority of these miners reside. Or at least that's where the connections are being made from. I struggle to imagine the amount of hoops such operators would have to jump through to ensure a safe

    The math simply doesn't hold the 20%.
    If at the time of the article you would have 20% of the hash rate still in China and you would count the whole drop of 100 exahash obviously on the hashrate fleeing China it would mean that before the April events China would have had more than 82%of the global hashrate, single already at that point Foundry and Mara had 9% combined it would have put the entire world at the rest of home miners in US  ar around 5-7%. Which would contradict all other theories about mining happening from Australia to Iran to Russia and Canada.

    It one way to the other, either claim that before the ban China has way less than the current 10% or it had more than 80%, there is no way the scenario would hold otherwise.

    Besides, the article is before the DNS event which saw pools switching off their servers in China and moving their domains, and that was at the surface, probably every IP that was detected at that time inside the country is already on the long list of investigations.
    And yet again the numbers would not match with the drop, it's simple as this!

    Not saying that the numbers are zero, but 20% of the global hash rate? With the rainy season over and coal still over way over 100$, the government cracking on you and messing with everything, no you won't have 20%! 5% is doable, 20 is fantasy.

    Data from a Chinese cybersecurity company Qihoo 360 estimates an average of 109,000 bitcoin mining IP addresses active daily in China.

    If each of that IP would have more than 3 S19J behind it, just 3 miners per IP!  would have more than 20% of the hashrate.

     

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