“Donald Trump’s promise that all remaining Bitcoin must be “made in the USA” may prove to be one of the most difficult to fulfill.”, — write: epravda.com.ua
Donald Trump’s promise that all remaining Bitcoin must be “made in the USA” may prove to be one of the most difficult to fulfill. This is reported by the Bloomberg agency. Trump made the promise in June in a post on the Truth Social platform after a meeting at Mar-a-Lago with a group of cryptocurrency mining executives. “It’s a typical Trump comment, but it’s completely unrealistic,” said Ethan Vera, chief operating officer of Luxor Technology, a company that provides software and services for miners. , as blockchains are decentralized networks that no one controls and from which no one can be excluded. In addition, the sector is becoming increasingly competitive as large-scale mining operations are popping up all over the world trying to get a share of the tens of billions of dollars that this industry generates every year. New competitors include Russian oligarchs, royal families from Dubai and Chinese businessmen in Africa. They invest heavily and have access to vast energy resources to engage in this lucrative but energy-intensive process.Advertisement: About 95% of the 21 million bitcoins that can be created have already been mined, although this cap is expected to be reached in about 100 years . Bitcoin mining in the US has become a multi-billion dollar industry in recent years thanks to the exponential increase in the value of the tokens. However, according to analysts, the total computing power of miners in the US is less than 50% of the global figure, which makes it impossible to ensure the operation of the entire network by the forces of American companies alone.