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Changpeng “CZ” Zhao: China Wants to Control Mining

Published 12/13/2019, 07:00 AM
Updated 12/13/2019, 08:21 AM
 Changpeng “CZ” Zhao: China Wants to Control Mining
BTC/USD
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The Chinese government deliberately favors Bitcoin (BTC) mining, and may actually want to centralize the activity and control the network, commented the CEO of Binance, Changpeng “CZ” Zhao.

https://twitter.com/cz_binance/status/1205178744287031296

Zhao’s statement was all-encompassing, essentially suggesting China may want to centralize Bitcoin mining. Currently, this is not far from achievable, as more than 60% of block discovery is happening with Chinese pools, based on local ASIC farms.

China also has one of the lowest breakeven prices for BTC, whi...

This article appeared first on Cryptovest

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