I couldn’t read the article in the NYT. They said “sign in to read the article” so I did and THEN they said “You have reached your limit of free articles.”
What a bunch of dirtballs they are.
It’s called protecting your investments.
Good business.
I understand Bitcoin vs Fiat both have their problem. However has anyone bothered to actually look into how they compare “carbon wise”? Presumably everything that goes into building a bank, keeping the lights on, and the air conditioner running is not free. The paper our money is printed on, however worthless, is still slightly more than free.
Good luck with that. Mining takes up a TON of electricity. I know people that pay 20,000-30,000 a month just in electricity bills.
Bitcoin miners often place themselves where there is cheap energy. In many places they set up where hydro is the main source—and they suck up energy generated during times when it goes to waste.
While the miners are “appearing” to suck up to the “eco guys” in reality, they are doing it because its cheaper.
If you are building your own solar and wind...you are not relying on the extended grid. And, in my area for instance, the cost of the energy makes large scale operations almost impossible without supplementing the commercial source with some sort of renewable.
But yeah...energy use is one of the bugaboos that Liz Warren and her ilk through at crypto—after money laundering and criminal activity. (Of course, that $20 bill in your pocket probably has seen more cocaine than the bitcoin in your wallet. ha ha.)
As long as the Bitcoin miners pay their energy bills, what’s the problem? Let’s attack the millennial weenies who play stupid computer games in mommy’s basement and waste 10 times more electricity than miners.
I'm so old I remember bitcoin true believers saying crypto currency allows you not to give a darn what other people think. I guess that ship has sailed. LOL