Quote:
Originally Posted by cstreit
Side note: The only reason BTc is a high energy consumption coin is because it was designed to be self limiting. If it wasn’t for all the ridiculous speculation it would be impossible to mine for profit and it would stop.
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https://www.cbsnews.com/news/bitcoin-mining-energy-consumption/
Bitcoin mining uses more electricity than 159 individual countries -- including more than Ireland or Nigeria.
It went from an alternative exchange platform and tax dodge to a massive pyramid scheme. So why wasn't Bitcoin shut down immediately by the Fed or IRS? I suspect the big players and banks are invested, and they will quietly sell off their gains over time if the USD remains stable. If the dollar falters they will exchange it into any real currency that is making gains. It's a no-lose situation.
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Meanwhile other things are still happening.
Last edited by john70t; 05-13-2021 at 10:21 PM..
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