The ongoing United States-China trade war is in its fourth year. Former U.S. President Donald Trump saw different results from what he initially expected: America has taken a hit from higher tariffs and sanctions against Chinese companies and hasn’t benefited from it nearly to the same extent. It has cost the country up to 245,000 jobs. Mỹ. Chamber of Commerce calculated that the situation puts the exports of each state at risk. Ví dụ, the damage to Florida’s exports alone has already reached $1.9 tỷ.

Đồng thời, China was taking a smarter approach: It not only imposed reciprocal sanctions and exported its products through intermediary countries (Việt Nam, Taiwan and Mexico), but also made the U.S. pay for unsecured and poorly regulated assets — cryptocurrency.

Có liên quan: US-China trade war and its effect on cryptocurrencies

Hidden billions


To earn Bitcoin rewards, powerful computers solve complex math problems 24/7. Part of the newly mined coins goes directly to crypto exchanges, while the rest can be kept in the miners’ crypto wallets, but is eventually sold to dollars. Trung bình, 900 BTC are mined every day, and the total daily revenue is about $31 triệu (as of the end of June). That means that in just a year, the miners have earned over $10 tỷ.


Có liên quan: Forecasting Bitcoin price using quantitative models, Part 1

Under the Party’s control


China restricted crypto transactions for banks and payment companies back in 2013. Trong 2017, the authorities also shut down local crypto exchanges and blocked access to foreign platforms. Mà nói, locals could legally own cryptocurrency all this time. What we see now is essentially a reminder of the previous restrictions imposed on financial institutions instead of the introduction of new ones. Một mặt, the Chinese authorities want to prevent the “transmission of individual risks to the social field,” and on the other hand, they leave the door wide open for foreign investors.


Có liên quan: Hồi chuông báo tử cho các thợ đào tiền điện tử Trung Quốc? Rigs on the move after gov’t crackdown




Who will pick up the idea

At face value, the possibility of Chinese miners moving to North America seems beneficial to the United States. But experts pointed out that the continent doesn’t have a lot of idle energy capacity. ngoài ra, moving countries takes time that competitors can take advantage of.


Another country planning the development of mining projects is El Salvador — the first country to adopt Bitcoin as a legal tender — that U.S. President Joe Biden refused to visit. El Salvador’s President Nayib Bukele is considering capitalizing onvery cheap, 100% dọn dẹp, 100% tái tạo” energy from local volcanoes.

Có liên quan: What is really behind El Salvador’s ‘Bitcoin Law’? Chuyên gia trả lời

In this context, Kazakhstan seems to be the most politically neutral country. Đây, a huge mining center by Enegix with a capacity of 180 MW, và lên đến 50,000 mining rigs will start operating in September. Còn gì nữa, Chinese manufacturer of mining equipment Canaan has set up a new service center in Kazakhstan.

China might exploit the export of their crypto farms as a means to further weaken the U.S. nên kinh tê, trong khi Hoa Kỳ. government has no significant leverage to stop the dollar outflow caused by crypto transactions. Imposing a crypto ban for Americans would simply be undemocratic.


Có liên quan: Chuyên gia trả lời: How does Elon Musk affect crypto space?


Bài viết này không chứa lời khuyên hoặc khuyến nghị đầu tư. Mọi động thái đầu tư và giao dịch đều có rủi ro, và người đọc nên tự nghiên cứu khi đưa ra quyết định.

Quan điểm, những suy nghĩ và ý kiến ​​được bày tỏ ở đây là của riêng tác giả và không nhất thiết phản ánh hoặc đại diện cho quan điểm và ý kiến ​​của Cointelegraph.
