Quote from: Call_Me_Bambi on September 04, 2017, 05:15:27 PM

Quote from: bfons on September 04, 2017, 05:04:39 PM

Imagine what would happen to all them large Chinese mining farms if they were to crack down on cryptos?

Ouch

http://www.businessinsider.com/initial-coin-offering-china-bitcoin-ethereum-peoples-bank-of-china-law-all-crypto-illegal-etoro-2017-9

If China drops the batton then Russia will pick it up, if it has not already done so.
Looking at some stats the Russians pay 90% less for there electricity than I do, so I'm sure there are other Russians who pay even less.

https://phys.org/news/2017-08-oil-russia-crazy-cryptocurrency.html

The cheapest electricity rate in Russia (in Irkutsk, Siberia) is 1 ruble ($0.017) per kWh. In Moscow people pay 5 rubles ($0.086) per kWh. Russian miners are already building mining farms in Irkutsk and even raised an ICO for that:

http://ico-cryptofarm.net/