With the recent crackdown on crypto Chinese pools are closing down operations. Likely more than half of Chia farmers are in China. Things are going to be hectic.
netspace still grow bro…
whale spread the FUD to get cheap discount BTC
Is this just a random assumption or do you have some facts that actually point to that being true?
I disagree, seems like personal agenda FUD.
Did they though? Do you have evidence of that? They posted news today on their site that wasn’t this.
The last 4,000 times China banned crypto it only temporarily affected things. It’s just FUD.
I don’t see anything about Sparkpool shutting down, just ceasing service to farmers in mainland China. Not finding a first-party post to the effect but reports about such an announcement are all over.
Nothing on what seems to be their twitter account, but the reports are saying details to come.
I guess we’ll see.
Awesome, thanks for following up. If you feel like privately sharing how you knew so soon, I am open to DMs I am impressed.
All domestic Chinese crypto will be shutting down. Market will be hectic for a bit. However, serious mining operations in China will possibly export equipment and start back up in due time outside of China. Either that, or they will flood the market with used equipment.
I see short term network size drops, crypto pricing drops, and then rebound on price (before network size) affording higher rewards. Im HODLing and plotting.
Chia Blockchain Explorer Charts are still shark teeth as usual, but they do not seem to indicate the small network size drop that I expected. If anything it looks to be steady or still growing slowly.
With less energy usage, Chia farmers in China are not the primary focus of or the easiest target for the Government. While they still must shut down their farms, they are probably not in quite as much of a hurry. Many can probably ship their drives full of plots somewhere friendly and just put them back onto the network.
Definitely. I read an article last night China phasing out coal now (new breaking news). They have regions also suffering rolling power outages. I wonder how much the crypto ban (i.e. BTC and ASICS) is driven by that. They use a massive amount of power.
Being a pool op gets you in the inner circles