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Cryptocurrency is worse than electric cars because cryptocurrency can be mined everywhere in the world, whereas electric cars require the use of the electrical
by pcwalton 4y ago
Cryptocurrency is worse than electric cars because cryptocurrency can be mined everywhere in the world, whereas electric cars require the use of the electrical grid near the location they're being driven. This means that local governments can mandate cleaner sources of energy and actually have an effect on electric cars, as you can't just import electricity from overseas as easily, while cryptocurrency mining can just move to more favorable jurisdictions in response to any inconvenient regulations. The incentives of cryptocurrency mining create a race to the bottom, where mining operations simply relocate around the world to wherever the regulations are laxest.