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Is this not a little hyperbole? Bitcoin is estimated to use the power of a “small country”. Much of mining happens in China. Surely that is not a primary factor

Is this not a little hyperbole? Bitcoin is estimated to use the power of a “small country”. Much of mining happens in China. Surely that is not a primary factor in energy usage right now. It’s still not a sustainable tech IMO, but is that really “the problem”?

danuker 5y ago
> Much of mining happens in China. Not since they banned it, resulting in a lot of the hash power moving abroad. Only 20% or so that stays underground. https://www.cnbc.com/2021/12/18/chinas-underground-bitcoin-miners-.html https://www.cnbc.com/2021/12/18/chinas-underground-bitcoin-m...
squarefoot 5y ago
> Is this not a little hyperbole? Unfortunately it isn't. Do you trust the Financial Times, Reuters and Forbes? They're not exactly some treehugger fanzine. https://12ft.io/proxy?q=https%3A%2F%2Fwww.ft.com%2Fcontent%2F8a29b412-348d-4f73-8af4-1f38e69f28cf https://12ft.io/proxy?q=https%3A%2F%2Fwww.ft.com%2Fcontent%2... (necessary to remove paywall) https://www.forbes.com/sites/tedknutson/2022/01/20/crypto-energy-consumption-enormous-but-it-neednt-be-congressional-panel-hears/?sh=75d0c734abbb https://www.forbes.com/sites/tedknutson/2022/01/20/crypto-en... https://www.reuters.com/markets/commodities/kosovo-bans-cryptocurrency-mining-save-electricity-2022-01-04/ https://www.reuters.com/markets/commodities/kosovo-bans-cryp...