'Digging' Bitcoin in China remains whether interest rates halved

Bitcoin price has increased 1,400% last year, increasing demand for electricity to dig virtual currency globally. 75% of bitcoin mining concentrated in China - the country with large amount of phone users in the world.

Even with the highest electricity price bracket in China, miners can still benefit from Bitcoin, as long as this currency worth more than 6925 USD. Currently, each Bitcoin traded around the landmark than 13,700 USD, down about 29% since peaking record

China is more tightly controlled, limited power to dig virtual money. According to Digiconomist Bitcoin Energy Consumption Index, the virtual money power consumption equivalent to 3.4 million households in the US.

In China, the miner uses 15.4 terawatts. BNEF's report shows, the Bitcoin miner in China is only 0.2% use the amount of power consumed each year in this country, even the world's largest community.

According to Sophie Lu - a specialist in BNEFF, peach Bitcoin in China can profit with the highest cost per kilowatt is 0.13 USD. However, many companies here can benefit from negotiated rates 0.03 USD. So they will still profit if Bitcoin at least 3869 USD.

Lu said that if China's policy tightening power management, the miner will be easily transferred to other countries. Because the virtual machine to dig the money can only be used for more than two years and the other components also quite cheap.

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Bitcoin: Mine or Buy right Now?

With more and more publicity about Bitcoin, more people are mining and blocks are being discovered at a rate faster then every 10 minutes causing the difficulty to increase. So it is now harder then ever before to mine Bitcoins.
GPU mining is a thing of the past. With several companies releasing devices specifically engineered to mine bitcoins, the difficulty has increased so much that it is impossible to turn a profit with a regular computer setup. If you want to make any money in bitcoin mining, you need an ASIC.
Even with an ASIC, you may still find that the difficulty increases make your miner obsolete. Keep that in mind when and if you decide to invest in an ASIC bitcoin miner.

Bitcoin investment is a great opportunity. There is no minimum amount to buy and right now they are in their infancy. Because of the increasing demand for Bitcoins is increasing they have increased in value exponentially. There is also a possibility of them dropping. It’s speculation, but the base is getting bigger, and because bitcoin has no central authority to issue them any faster, supply cannot keep up with demand, causing them to rise in value.

Buy Bitcoins here :
Bitstamp
Local Bitcoins
MtGox

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