Yawning China dominates Bitcoin mining with cheap baseload electricity: Canada can help

Dec 07 17:12 2017 Print This Article

The value of Bitcoin, which is now well over $CAN 20,000 (it was just over $CAN 8,000 less than a month ago) depends entirely on electrical power: precisely, the power to solve a brute-force computational puzzle faster than everyone else. Does it then follow that whoever owns the power plant owns the future of the currency?

Of all the news gripping news consumers in China, one of the stories not getting top-drawer attention is Canada’s effort to be the first G-7 country to do a bilateral trade deal with the People’s Republic. So says an avid and copious consumer of Chinese news and pop culture whose opinion I respect. She laughs when she notes the prominence of this story in Canadian media compared with its near-total absence in Chinese media.

Nobody cares about Canada, it seems. I am used to that so it doesn’t bother me at all. What I want to talk about is how Canada can play a power role in China, literally. A power role that involves money, potentially huge money. If we can play that role, I really don’t care if the media doesn’t notice.

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About Article Author

Canadian Energy Issues

Steve Aplin, author of Canadian Energy Issues, is the Vice President of Energy and Environment at the HDP Group Inc., an Ottawa-based management consultancy. He leads energy- and environment-related projects dealing with current and future energy production and use at the macro and micro levels. In addition to the technical, technological, and organizational aspects, all of these projects involve also a political dimension, which often necessitates advocacy at various levels of government as well as in the general public arena.

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