[cstreit]

The reason China is doing it is related to cheap energy costs. When you don’t care about polluting the earth, you can produce power at 1/12th the rate of anywhere else.

US? $0.12 per KWh. China? $0.01 per KWh.

Again, the issue isn’t Bitcoin. It’s speculators driving the price up. It’s the willingness of countries like China to allow for cheap dirty power production. They make it profitable? Want to fix the issue? Don’t ban Bitcoin, address the underlying issues.