Posted on 01/12/2021 2:49:28 AM PST by Norski
This week cryptocurrency enthusiasts are still focused on the severe flooding in China during the 2020 monsoon season. The flooding has already displaced millions of Chinese citizens and skeptics are concerned about the vast number of bitcoin miners located in the Sichuan province.
The landlocked province in Southwest China, Sichuan is located upstream of the Three Gorges Dam. During the last two months, the 2020 monsoon season ravaged the region.
Reports note that by the end of June, flooding from the rainy season has displaced 744,000 Chinese residents stemming from 26 provinces. The latest reports highlight that 54 million citizens from China have been affected by the floods and 41,000 homes have collapsed to-date.
Estimates show that roughly 50% of the world’s bitcoin miners are located in China and a deep concentration of miners are located in the Sichuan province. Last year, Coinshares reported the concentration in China was around 64%.. . "
(Excerpt) Read more at news.bitcoin.com ...
a short YT vid on the some flooding, not enough info. Robot voice, less than ideal, two minutes 16 seconds. by STRANGE TRUTH channel. Cannot find anything else re the situation at this time, grain of salt rec’d.
The World’s Largest Three Gorges Dam Overflowed | China Floods | 3 gorges dam | 3GD
https://www.youtube.com/watch?v=Y1bjvEP9LUw
Old news...dated..Aug 4, 2020....
threatens bitcoin miners?????????? how the hell do you do that? Bitcoin is a figment of imagination.
I was under the impression that was a dangerous situation, say, 3 months ago. But I thought the monsoon season ended and the water receded and the danger was pretty much past.
When the market dropped the last few days I pulled $2K out of my account while leaving my initial investment ($3K) sit.
Figured I’d make sure I didn’t get completely cleaned out. This morning its going back up. Good for me!
And I know some will ridicule me for owning Bitcoin (don’t care) but its just another way to diversify - I’ve got small stocks, gold and silver - and Bitcoin.
“Apparently, many of them are coming to the central area of the state of Washingon, USA, for less expensive electrical rates.”
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I guess the temperatures are too hot for them to mine in the Texas Permian Basin using natural gas that would otherwise be flared off. That’s OK with me.
Just noticed the original date. Correct. Reposted today, January 12, 2021, on the bitcoin site.
Reason for this is the YT vid on imminent flooding is dated today. Considered it important enough to go looking for verification. Found it on Bitcoin - I thought.
Believe there is another article on phuketnewstoday. I am looking for any verification of Three Gorges Dam flooding.
Would prefer to be wrong. Any additional information welcome.
Thought so too. . . the imaginary can affect us . . .
Any information on Three Gorges Dam flooding welcome - original reason for posting on bitcoin . . .
Consider video, and assist in checking on any flooding information? China in news. Could be strategically important for USA.
There is always next year.
I’m curious as to how you buy in and (more importantly)cash out. WHat is the equivalent exchange rate of Bitcoin vs. USD?
I’ve never invested in because I don’t understand it enough....a digital asset doesn’t assure me. But Patrick Byrne of Overstock and a few others were onboard years ago when it was first introduced.
I saw it was an old story. I see stories like this about the day all the time and nothing ever comes of it.
But Bitcoin is mined with a large collection of computer servers so if it did break I can see where it could but a damper (pun intended) on mining operations.
Just what we need!
Thousands of Communist Chinese taking over Spokane.
Funny, when we have natural disasters in the US I cant think of anyone packing up and heading to China
Best to consider this ahead of the curve then.
get a coinbase account to trade crypto...then read.. then don’t spend more than you would in a casino.
Perhaps they would prefer Louisiana. River delta, heat, humidity, mosquitos, international shipping ports.
You invest your money knowing it could be gone in an instant, like the stock market. No guarantee.
You can buy in large or small increments on places like Coin Base or now even PayPal.
Then your investment rises and falls with the overall value of the Bitcoin.
I use PayPal. I can sell off at any time and they will deposit it in my checking account- like I did yesterday.
Yup. And so is your belief that $1 bill has any intrinsic value.
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