Oddbean new post about login | logout CryptoQuant founder Ki Young Ju recently sparked a debate within the crypto community by claiming that China currently controls 55% of the Bitcoin network hashrate — which misses a critical point about miner distribution. https://image.nostr.build/3e7b5e43bcfde9117df1c6b1454fca4b540e668d9eda6f99012b3783222a1887.jpg
while Chinese pools dominate with over half of the hashrate, U.S. mining pools account for about 40%. This distribution raises important questions about the implications of such concentration of power within the network, particularly regarding security and decentralization. Critics argue that focusing solely on the percentage of hashrate controlled by Chinese miners overlooks the broader context of miner distribution and the evolving landscape of Bitcoin mining.
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