Hash War – 250

Why are sanctions something that are Going to be upheld here and a big point Of contention when it comes to Central Bank digital currencies Well the West Typically imposes some sort of Let's say Financial stress via sanctions On countries that aren't doing what they Want them to do well most recently of Course Russia and then Russia responds In kind Russia is now the second biggest Bitcoin miner after the U.S a report Tells us Russia is now the largest Bitcoin or second largest Bitcoin miner After the U.S according to a report by Russia media commerceand Russia's new Ranking comes and made Moves by the U.S To tax and regulate crypto mining at Both state and federal levels resulting In a less welcoming environment for the Industry in the U.S completely opposite Of what you should be doing if you've Paid attention to the sophomore shout Out to everybody that's been taking Pictures of the software on and sending It to me on Twitter I hope you're Enjoying the read what we are seeing What is exactly how this was described Is that Bitcoin will become a national Strategy Point of transactions I mean even beyond That what we're talking about is power Right not power of just like Putin Versus Biden or whatever it may be right But we're talking about literal

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Infrastructure and the scaling of that Infrastructure and what the what mining Is going to allow these countries to do With that infrastructure with the with Basically resources right and it goes Way Beyond an atom bomb or military Because at the end of the day the Economies are under attack here Says some fast facts Russia back the Second position globally in terms of its Mining capacity between January and March at one gigawatt the media reported Report quoted bit River a turnkey Solution provider for cryptocurrency Mining The U.S led with three to four gigawatts Of mining capacity which is you know Significantly higher than that of what Russia's at with one gigawatt others in The top ten include the Persian Gulf With 700 megawatts Canada with 400 Megawatts and Malaysia with 300 Megawatts the report said Russia was in Third place at the end of 2021 ahead of The U.S and Kazakhstan in terms of Bitcoin mining capacity the report said Citing data from the Cambridge Center For alternative Finance cryptocurrency Mining is a process of blah blah Everybody in this channel knows exactly What it is but it's important to note of Course that a lot of these Bitcoin Mining Uh operations that are going on in

Russia now are directly tied to the Government whether it be an actual Government program which we've talked About has been going on in Russia but Also all of the oligarchs that are now Able to invest in that and enjoy things Like tax holidays while the sanctions Are in place essentially meaning that There is an incentive across the board To start investing in Bitcoin for anyone That lives in Russia and as opposed to That what we are seeing in the United States is a completely opposite reaction To cryptocurrency where they're starting To impose more taxes more regulations And more stringent basically rules Surrounding mining Bitcoin and even Participating within cryptocurrency in General and this is going to create a Position where a lot of the industry Doesn't see the us as an enticing Basically place to go to participate Within cryptocurrency and they'll move Their operations somewhere else this Could be detrimental in my humble Opinion to the future of the United States and their position strategically From a power perspective and I think That it's something to pay attention to One gigawatt is nothing to scoff at However the US is still ahead like it Stated here by three to four times of What Russia currently has I think that That will get a lot closer as we move on

And paying attention to the hash rates And where they're coming from will Probably be fascinating and also how the Shifts in global Powers happen in Relation to how much cash rate you have What it's turning into is Hash rate Wars Really at the end of the day it's pretty Interesting thanks for checking out this Clip from the crypto mining show you can Check out the full episode here or more Crypto content down here also I'd like You to check out my locals page at son Of a tech.locals.com where you can Become a member for free or choose to be A five dollar a month supporter that Unlocks additional content

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