Quote from: one.CAG on May 29, 2017, 11:05:35 PM

Quote from: Sniper44 on May 28, 2017, 01:13:52 PM

bitcoin mining has always been profitable and that has never been because of fees. the extra fees the miners get is like a bonus to them. the fact that people no longer do it is because they don't have cheap electricity and as others said you need to make a big investment to buy some bitcoin miners.

also not to mention the fact that manufacturing of mining equipment is done in China and their mining farms will get their hands on the best and latest equipment with lower prices because of no shipping fees and other contracts they have with each other. which makes competing with them hard.

That's something I hadn't thought of before.

Aren't there any other places that can make mining equipment?

Of course, there are a million and one places across the globe oher than China where mining hardware are manufactured, but China is obviously having a comparative advantage as a result of it's cheap electricity that in the long tun made cost of production quite cheap. That explains the reason most nodes are located in China even though the people behind them may not all be Chinese.