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I'm still surprised we haven't seen more gov. regulation around cryptocurrencies. They're a huge investment of power (0.6% to 2.3% of US electricity demand [1])
by bmau5 3y ago
I'm still surprised we haven't seen more gov. regulation around cryptocurrencies. They're a huge investment of power (0.6% to 2.3% of US electricity demand [1]) and it seems like they are a direct threat to a government's power in controlling their currency?
[1]https://www.eia.gov/todayinenergy/detail.php?id=61364#:~:text=Assuming%20the%20share%20of%20global,2023%2C%20which%20was%203%2C900%20TWh https://www.eia.gov/todayinenergy/detail.php?id=61364#:~:tex....
- npoc 3y agoThey'd love to shut bitcoin down, but bitcoin's job to to separate money and state. All governments can do is try to slow it down or embrace it. And while one government is trying to slow down it's adoption, another government is embracing it and thriving because of it. The ones who adopt first will have an enormous advantage over the ones who adopt it last. It won't belong before we see a world-wide "arms race" with nations trying to acquire as much bitcoin as they can. In fact, looking at the hash rate, I'd be surprised if there wasn't a nation state sponsored mining operation already.