Repression against the “miners” ready to move to the US and Russia, but the solution is not flighting; the paradigm must be changed.
Due to the Chinese government’s repression against the crypto world, many ” mining farms ” have stopped in recent weeks. According to Chinese news sources, 90 percent of Bitcoin Farms have already been blocked. A very relevant data shows us how much China wants to limit decentralized cryptocurrencies and have the electronic Yuan (DCEP) as the only digital currency.
Miners are increasingly at risk in various provinces of China. The local government of Inner Mongolia asked all citizens to report any mining operations and proposed a law in May to increase penalties against miners; In Xinjiang, 36 percent of the global computing power of the Bitcoin network was concentrated in April, in June, the local authorities imposed the closure of mining activities in the Zhundong Economic-Technological Development Park, an area of 15,500 square kilometers that houses several plants coal-fired electric.
The cost of electricity conditions the miners’ escape; the computers used for mining Bitcoins consume a large amount of energy to solve the complex calculations of transactions. They will then move to where the cost of electricity is cheap; according to CNBC, two probable destinations are Texas and Kazakhstan, where costs are among the lowest globally and, especially in Texas, they would find a state administration favorable to the support of cryptocurrencies.
This great migration of miners will not bring a turning point, and a solution to the problems but will lengthen the timing, making the BTC always too volatile and subject to continuous repression. The future of our planet is related to the balance and respect for ecosystems; until the paradigm and ethics of many crypto coins are changed, it will be difficult to establish the world of digital currencies as the main payment method in the short term. A different paradigm and an innovative project can be found in the Vectorium cryptocurrency.
Vectorium is a decentralized cryptocurrency platform conceived and developed in Italy that uses only energy from renewable sources. Its Eco-sustainability is guaranteed by Bureau Veritas, a world leader in inspection and risk assessment services related to quality, environment, and safety, which monitors and verifies the origin of the energy needed to “undermine” cryptocurrency.
Vectorium is a “carbon free” and “environmentalist” cryptocurrency; it does not need to pollute to be produced; it draws energy from Italy and other European countries for the “mining” of the currency.
Vectorium reached high capitalization levels in a short time, continuing to have billions of dollars ($) in exchange levels within the market (source CMC). Having only renewable energy sources has attracted over time many investors who have started buying coins on the various online platforms that have loyal to Vectorium or who have started (by consulting the Vectorium site) personal “ green mining ” for the creation of the currency becoming a prosumer using a photovoltaic or solar domestic/industrial system.
An innovative and revolutionary Crypto that can, over time, become the forerunner of a fundamental change to keep and consolidate digital currencies in our daily lives.
Visit the Vectorium.co site.