Opinion. October 19, 2021. The United States Just Became the Leading Bitcoin Miner in the World

in LeoFinance2 years ago

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Until not too long ago, China was the the leading country in bitcoin mining. The country did not mind the coal burning and the pollution associated with it. But the it came the idea of creating the digital yuan. Bitcoin would have represented a competition to it, so China decided to crack down on the industry.

As a consequence, China's importance as bitcoin miner has decreased and the largest bitcoin miner is now the US. This will be remembered as the greatest financial error of recent times. China could have had control of this emergent asset.

One positive outcome is that bitcoin mining can be more environmentally conscious, with projects less reliant on coal and using more alternative energy sources. A negative outcome could be the potential regulatory consequences of having bitcoin being mined in the US.

In my opinion, the United States' private sector will not miss the opportunity of the century. There may be setbacks, though, related to misguided administrations imposing restrictions, regulations, taxes or control of the industry.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.
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Sure the USA will not such opportunity to go by. Thanks for sharing and have a wonderful day

Keep in mind, it is the private sector, not the government of the USA

China's decision to suppress the bitcoin mining was wrong. Which is why they missed this opportunity and now that’s why the United States has reached the top position in the bitcoin mining. I don't think China will be able to take over this place again easily.

China is interested in control. Bitcoin is about the opposite

USA is the wisest country for not missing the opportunity of mining of Bitcoin. Strange is that Iran is the 5th largest miner this time.

The private sector is the wisest!

Yes you are right. Well post.

Yes, they are more aware of taxes and other past mistakes they had done. They are moving e
Wisely.