Crypto mining has been an environmental issue that can’t be overlooked; World governments have tried to put a lid on it but still have an uphill battle as the popularity of crypto grows.
Will crypto be mining be able to last if the technology still impacts the earth on high levels? Or will it mold with time and adapt with the land before governments continue to attack Cryptocurrency.
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Crypto War With Mining …
China has been in the front of crypto bans and the war between the two parties only grows and gets harsher. China slapped a ban on Bitcoin (BTC) mining, trading, and crypto services, The Chinese government’s given reason for the Bitcoin crackdown is to reduce its well-documented climate impact. A-lot of speculation on others to follow such as turkey and India but one thing we know is china is a huge influencer impact on the way some countries operate to have them ban this is only going to inspire more to follow.
The problem with crypto mining is the carbon footprint it leaves on this planet and how it impacts the natural resources we have left. Currently, less than one-third of global electric power is sourced from renewables. If this share went fully toward cryptocurrency mining, perhaps it could lend it a semblance of sustainability, but it would be little more than a fig leaf.
BTC: BTC is currently the largest crypto BTC-USD on TradingView.com
Grabbing At The Gold…
After chinas ban it didn’t take long for the US to become one of the leaders in crypto mining with Russia and many to follow, This could stem from each countries hunger to become the world leader and first on the crypto train. The United States sprung at the opportunity created by the Chinese ban to become the world’s new mining hub. In Asia, Kazakhstan and Malaysia are ramping up mining operations, as are Germany and Ireland in Europe and Iran in the Middle East, according to recent stats.
The effort to keep crypto-mining chugging along is making for some very strange geopolitical bedfellows. Bitcoin was revolutionary when it came out in 2008. It paved the way to a new digital economy. Proof-of-work was a revelation in terms of decentralization and security, but its lack of efficiency presented us with a ticking time bomb. This bomb is going off now.
Finding a way to switch out the source and technology used to mine will help it stay alive we are watching and prolonging a demise that has been heaping for a while due to how aware and bug climate change is and the popularity and growth of crypto. Yes the United States is going hard but how long and when will they stop using coins like Bitcoin and look into more energy-friendly projects; we can’t assure anything but only look at what’s happening around us as crypto gets big so will the demand and need that will keep mining going but also at war until a new solution is brought up.
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