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  • Brian

    July 19, 2020 at 3:27 pm


    It’s a myth that the Bitcoin network is in China. It is a fully decentralized network. There are nodes design for mining and nodes for the network. They could be both. Bitcoin itself is not ruled by mining ( https://en.bitcoin.it/wiki/Bitcoin_is_not_ruled_by_miners) Only 1% of the nodes are in China. Definition of a node (https://en.bitcoin.it/wiki/Full_node)

    Bitcoin Network Map

    Top 6 countries with their respective number of reachable nodes.

    1. NA 23.91%
    2. The United States 18.37%
    3. Germany 17.20 %
    4. France 5.63%

    5. Netherlands 4.06%
    6. Canda 2.86%

    Now Mining

    China controls much less Bitcoin (BTC) mining power than people think, according to a new survey.

    Released on July 16 by asset manager Fidelity and crypto research firm BitOoda, the survey reveals that China is actually responsible for around 50% of Bitcoin mining — not 65%.”

    US-Mining has double in the last 2 years from 7% to 14 %. Expect that to continue.

    • This reply was modified 1 year, 4 months ago by  Brian.