BREAKDOWN: The Great Western Hashrate Migration Is Real
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 27 June 2021
⏱️ 12 minutes
🧾️ Download transcript
Summary
A recent essay dives into China’s motivations for its recent bitcoin mining ban.
This episode is sponsored by Nexo.io and Circle.
On this week’s “Long Reads Sunday,” NLW reads Nic Carter’s latest essay for CoinDesk “Go West, Bitcoin! Unpacking the Great Hashrate Migration.”
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Transcript
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| 0:45.6 | That's audible.com slash Wondery UK. |
| 0:53.8 | Welcome back to The Breakdown with me, NLW. |
| 0:58.8 | It's a daily podcast on macro, Bitcoin, and the big-picture power shifts remaking our world. |
| 1:05.3 | The breakdown is sponsored by nexo.io and circle, and produced and distributed by CoinDesk. |
| 1:13.8 | What's going on, guys? It is Sunday, June 27th, and that means it's time for Long Reads Sunday. If you've been in this space for |
| 1:19.9 | a while, you can be forgiven for having a bit of a groundhog day feeling anytime China |
| 1:24.2 | bans Bitcoin, quote unquote. More often than not, it's some repeat of some old policy |
| 1:29.4 | that has a ton of intricacies in practice and doesn't really represent anything new. That's why it was |
| 1:34.4 | so surprising to many when a month ago or so, when the vice premier announced a Bitcoin mining ban, |
| 1:39.4 | it was taken as something extremely serious. Miners started liquidating their holdings to get to Fiat to make big |
| 1:45.3 | moves and the rest of the world paid attention. Today, I'm reading a piece by the one and only |
| 1:50.2 | Nick Carter written for CoinDesk about just how real the shift is. It's called Go West Bitcoin |
| 1:55.9 | unpacking the great hash rate migration. All signals indicate the greatest shakeup in the |
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