As to mining farms owned by smaller players, especially those in the mountainous areas of Sichuan and Yunnan provinces, simply locating the miners is a near impossible task. A growing number of private owners of hydropower plants in the two regions have begun to operate mining machines themselves as the price of bitcoin has surged, Du Jun, founder of Node Capital, a Beijing-based venture-capital firm focusing on the blockchain industry, told Quartz prior to news of the latest crackdown. “How can you find them?” he asks.
Couldn't they be found by looking at their IP address?
The Chinese state has tremendous resources. It seems like if tell people to stop mining bitcoins, the vast majority would do so and any minority which didn't would be very vulnerable.
Also, it seems like China could stop bitcoin mining by blocking the protocol using the Great Firewall or otherwise filtering bitcoin out.
I am personally of the opinion that China swiftly killing off its cryptocurrency mining industry overnight would be to the great benefit of humanity. The sheer amount of electricity it wastes is an environmental disaster.
This is a good time to invest in electricity and facilities in Mongolia
> Mongolia hosts 10% of the world's known coal reserves at an estimated 162 billion tonnes in 2011 with 17 operating coal mines
Can they track mining operations down by looking for abnormally high power consumption?
Not gonna happen, they just wanted to stop it and get a piece of the pie. Mining will resume in China
Maybe these operations will incorporate solar + battery storage into their systems if they want to stay alive... Be less efficient and less productive, but be legal, environmentally and socially responsible (sucking this much power from the public system is not responsible), and still profit.
It's things like this that really make the west seem backwards. Did you know the average Chinese citizen has more representation in their government than the average US citizen cf. https://aeon.co/ideas/one-way-the-us-and-the-eu-are-less-dem...?