{"id":17920,"date":"2021-07-01T07:32:02","date_gmt":"2021-07-01T05:32:02","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=17920\/"},"modified":"2021-07-01T07:32:02","modified_gmt":"2021-07-01T05:32:02","slug":"china-will-mine-bitcoin-in-a-new-way","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/china-will-mine-bitcoin-in-a-new-way\/","title":{"rendered":"China will mine bitcoin in a new way"},"content":{"rendered":"<table cellspacing=\"0\" cellpadding=\"4\">\n<tbody>\n<tr>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">Gold<\/span>\u00a0 1774,625<br \/>\n(<span style=\"color: #008000;\">+0,25%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">EURUSD<\/span>\u00a0 \u00a01,1841<br \/>\n(<span style=\"color: #ff0000;\">-0,15%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DJIA<\/span>\u00a0 34455,50<br \/>\n(<span style=\"color: #008000;\">+3,65%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">OIL.WTI<\/span>\u00a0 73,575<br \/>\n(<span style=\"color: #008000;\">+20,40%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DAX<\/span>\u00a0 \u00a015552<br \/>\n(<span style=\"color: #008000;\">+2,44%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"justify\">It&#8217;s time to have a little discussion about the fate of bitcoin and the crypto-world. After all, lately it feels like cryptocurrencies are having some problems. Bitcoin just recently tried to break down the $30000 level, prompting some analysts to predict another crypto-winter.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nBTCUSD<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-17921 aligncenter\" src=\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2021\/07\/BTCUSD.png\" alt=\"BTCUSD\" width=\"600\" height=\"257\" \/><\/p>\n<p align=\"justify\">What the markets are witnessing right now. It is clear to everyone that inflation is bound to rise. Dollars are pouring into the system every month, the printing press is running non-stop. Bitcoin has long been a very interesting asset, even for parties with large capital. It has limited issuance and is increasingly being used as an instrument, on a par with gold.<br \/>\nThere is some tension right now due to lower hash rates and the banning of miners from China, but that action is probably only good for bitcoin. These miners will move their equipment somewhere and continue to do their business anyway. And the rest of the crypto market will only be happy to see the computing power dispersed across Asia.<br \/>\nMany expect other countries to follow El Salvador&#8217;s example and start integrating bitcoin into their economies. In this way, these countries can create crypto offshore facilities through which substantial sums of money can be funneled.<br \/>\nThere is also a second option with mining in China. Already now, miners are beginning to find ways to circumvent government bans on mining. After all, the ban only applies to connecting to public power grids. Simply mining on private networks or using green technology is not banned. Having done the math, an interesting picture emerges. A 3kW portable hydropower plant to which a single Bitmain S17 asic can be connected will already pay for itself in 2 months. The Yangtze River already has about 25,000 private hydropower plants in operation. Bitcoin mining business is getting better.<br \/>\nIt&#8217;s only a matter of time before the hashrate rebuilds. It won&#8217;t be long before it starts rising again as miners adjust to the new conditions. As history tells us, a rise in hashrate is always accompanied by a rise in price in the future. So it is worth wondering where bitcoin will go in the autumn.<\/p>\n<p align=\"justify\">8.00 German retail sales for May<br \/>\n14.30 U.S. initial jobless claims index EU consumer price index YTD<br \/>\n16.00 US ISM manufacturing activity index for May<\/p>\n<hr \/>\n<p style=\"text-align: center;\" align=\"justify\">Important Notes on This Publication:<small> <\/small><\/p>\n<p align=\"justify\"><small>The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold\u00a0 1774,625 (+0,25%) EURUSD\u00a0 \u00a01,1841 (-0,15%) DJIA\u00a0 34455,50 (+3,65%) OIL.WTI\u00a0 73,575 (+20,40%) DAX\u00a0 \u00a015552 (+2,44%) It&#8217;s time to have a little discussion about the fate of bitcoin and the crypto-world&#8230;.<\/p>\n","protected":false},"author":37,"featured_media":17595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-17920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>China will mine bitcoin in a new way | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"It&#039;s time to have a little discussion about the fate of bitcoin and the crypto-world. 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