This is the news I’ve been waiting to hear about. I was ready to make several pre-order purchases but then was on the fence because of all the crackdowns in China.
Yeah this is huge. You have a company that manufacturers the bulk of the mining machines for $BTC in a country trying to ban it. This could have huge implications. While we have distributed decentralized, we don’t have distributed decentralized miner production.
Moving operations out from under the CCP control may be quite a feat. I don’t think the Communist Party is going to let large scale manufacturing just pick up and leave for “freer” nations like Taiwan, Singapore, India, etc. It’s kind of like Mao is alive and well again. Their not going to let this sort of wealth just leave the country. A war is coming, what form or shape it takes I do not know, but one thing history has taught us is that all war is economic.
This is about future state of economics.
Yeah, this is going to get messy
From what i understand its only the actual crypto currency that is being found to be illegal. Technically they could still make miners to export. The trick would be getting the manufactures to take Credit Card or Bank transfer.
Too bad we don’t have many US chip manufacturers that could step up and fill the void here. Imagine if we had US manufactured ASICs and GPUs. Readily available, domestic shipping costs, minimized wait time. Surprised there haven’t been any companies stepping up to manufacture ASICs right here in the USA.
LOL - good idea in theory, but then you’ll be looking at 10x the current miner price. In talking with my Ali supplier, they are pretty much “business as usual” and the only thing currently delaying shipment of my next order with them is the upcoming Holiday.
10x the price? How do you figure that? If the chips and the ASICs are manufactured here and sold here I would think they would be cheaper. No tariffs + Domestic shipping. ASICs are already selling for $7k- 30K and from very few reliable sources. I don’t see how they could get much more expensive than they already are.
just consider the costs for employees. For the labor costs in the factories in China, you will not find many employees in America or in most other parts of the world. And then it’s not just about screwing the components together, but also about extracting raw materials and producing the individual components.
Bitmain just suspended production in China from what I am hearing. They have shifted to other places. I doubt we see a large void in production. The mining pools are probably a bigger concern. I am not sure if they have/can pivot like a production plant.