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> The reason the price of bitcoin (and hence the energy cost of mining) is going up is that people have lost faith in the monetary institutions No, the reason
by mdoms 6y ago
> The reason the price of bitcoin (and hence the energy cost of mining) is going up is that people have lost faith in the monetary institutions
No, the reason bitcoin has increased in price is speculation of future increases.
- bko 6y agoThat's not exactly a deep insight. People buy things because they think its going to go up in price. Basically every asset is up considerably since the US government decided to spend $12 trillion and increase the money supply by 23% in one year. I'm sure its completely unrelated