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US Government Launches New Attempt to Gather Data on Electricity Usage of Bitcoin Mining
(insideclimatenews.org)
this post was submitted on 15 Jul 2024
267 points (98.9% liked)
Technology
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I wouldn't consider cryptocurrency an industry. At best, it's unregulated stocks whose value is backed by speculation. At worst, it's a waste of resources and a low-risk way for malware authors to profit off of victims.
Don't get me wrong, though. AI is also deserving of the same treatment.
Would you consider finance to be an industry? Because crypto is the same thing without the legalized grift.
For years crypto investors were warned that it was the wild west, and after everything that’s now happened do people still actually believe this?
Note that the second-largest cryptocurrency, Ethereum, no longer uses proof-of-work to validate its chain. So any regulations or data on electricity usage will be basically irrelevant to it.
Hopefully other crypto follows suit.