CoinVoice has recently learned that, according to Caixin, the promise by U.S. President-elect Trump to ensure that all remaining Bitcoins are 'Made in America' is one of the least likely commitments to be realized.
Industry insiders generally believe that Trump's promises are more symbolic support for the cryptocurrency industry, and practically impossible to realize. Because blockchain is a decentralized network, no one controls or is prohibited from participating in the process. The computing power of domestic miners in the U.S. is still far below half of the global total, making it nearly impossible for U.S. companies to support the entire Bitcoin network.
Ethan Vera, COO of Seattle-based Luxor Technology, which provides software and services for miners, said, "This is Trump-like rhetoric, but it is absolutely not reality." Analysts also pointed out that U.S. economic sanctions and severe inflation in some emerging economies are prompting overseas miners to further expand their businesses.
Taras Kulyk, CEO of Synteq Digital, said, "Several different markets have shown tremendous growth." The company is one of the largest brokers for computers dedicated to Bitcoin mining.
Kulyk said that demand from Eastern European countries like Kazakhstan is increasing, "Sales to Asia, Africa, and the Middle East are all on the rise."
There is also analysis pointing out that Trump's policies may pose challenges for American miners, such as his trade policies potentially leading to increased costs for Bitcoin mining equipment. For miners, electricity and equipment are the two largest expenses. However, for the overall cryptocurrency market, the benefits of Trump outweigh the drawbacks. [Original link]
