The title of the article says it all. There is a facility out in Hong Kong that fills tubes with computer chips and then fills the tubes with a liquid with a low boiling point. While the liquid boils it releases gas out the top which removes the heat from the computer chips. This whole process helps bitcoin mines cool their systems to mine coins quicker and more efficiently with less energy.
According to the article, Hong Kong is the best place in the world for bitcoin mining because it has low energy cost's. Between Hong Kong's low energy cost's and their state of the art technology, I see Hong Kong becoming a world headquarters for bitcoins, with potentially some fear. I have heard that it is impossible for someone to corner the market, this is not what worries me.
I am worried that bitcoins will only bring wealth to the countries that can afford the state of the art technology and low energy costs that is needed to mine them. To me this kind of defeats the whole idea behind it. Bitcoins may not be everything they're made out to be and one small issue could lead to major problems. It will take bitcoins over 100 years to solidify itself as a steady worldwide currency in my opinion. Bitcoins are going to take a while to circulate and may take even longer for countries to accept as a currency. I see a lot of issues ahead for bitcoins but if it can get past the next 5 years I think it has a shot to continue.
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