Dogecoin is dominated by chinese companies and china hashpower 87% (by proxy so is litecoin).

But actually mining centralization is worse for Doge than BTC. Dogecoin is merge mined with litecoin. All of the litecoin pools do this. https://miningpools.com/litecoin/ Up to 87% of dogecoin mining is either controlled by Chinese companies, or outright mined in china. You can check for yourself at the website I just showed. BTC has less mining in china than doge, and it has more bitcoin companies mining BTC in north america and europe. More and more non-china hash power is coming online outside of china for BTC. Hopefully the same will happen for doge, but as it stands dogecoin/litecoin mining is china dominated (87%).
This is why we know Elon doesn't know what the fuck he is talking about because he accused Bitcoin of being centralized, and that centralization taking place in china.
EDIT: found a good article https://old.reddit.com/r/CryptoCurrency/comments/ne480p/bitcoin_miners_moving_away_from_china_f2pool/?

submitted by /u/anonbitcoinperson
[link] [comments]

Add a Comment

Your email address will not be published. Required fields are marked *