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China’s vast Bitcoin mining empire risks derailing its climate targets
- Flatcircle 5y agoHave no idea how bitcoin's power requirements haven't become a real scandal for even moderate climate defenders. It's crazy.
- asplake 5y ago“China powers nearly 80% of the global cryptocurrencies trade”
- Gibbon1 5y agoBest comment I've heard so far. Bitcoin primary use is to move money out of China. Offhand thought, Bitcoin is also being used to sop up about $2T worth of excess liquidity.
- yostrovs 5y agoThere doesn't seem to be any evidence that China actually ever intended to meet climate targets. They've been building coal electric plants at a rapid rate continuously for decades now. In the meantime they've attended climate meetings and reassured everyone they're on the same page. I believe part of the problem is taking seriously the multinational agreements that form the core of the climate remediation efforts.