I really can´t understand what is happening here. You know that there is no generation of Value? All the rising coins are only rising because people are putting more money in it. Or you give Mining Power and take shares? Guys the Climate…
According to the University of Cambridge’s Bitcoin electricity consumption index, Bitcoin miners are expected to consume roughly 130 Terawatt-hours of energy (TWh), which is roughly 0.6% of global electricity consumption.
As the price of Bitcoin rises, the negative externalities associated with Bitcoin mining increase in kind. 2021 research report showed that the record-breaking surge in Bitcoin price at the start of 2021 could result in the network consuming as much energy as all data centers globally, with an associated carbon footprint matching London’s footprint size.
Why add an additional problem on top of all the problems? Crypto is unique as it’s new, unlike banking and data centers. In addition, I don’t think any critics of crypto’s inefficiency would give baking or data centers a pass.
Were trying to reduce our consumption, not add to it, especially in order to create technofacist Pokémon cards.
I just don‘t get it. Noone is trying to create a new kind of money, everyone is spekulating. And for this kind of energy consumption. Its like investing in oil and deforesting the amazonas. Whats wrong?
I sold all my RBLX right before it shot up over 21% today to buy more ETHE. My timing has been very bad lately, but I still manage to end up ahead. I’m excited to own more ETHE! Actually, I’m 100% invested in it now. I’m done with GBTC too.
Institutions may be regulatorily banned from investing directly.
However a core point of crypto is disintermediation of the expensive financial services system and its layers of ‘value added’ latency and cost.
It is ironic that some commentators see a credit card as secure even though it is rife with fraud.
Anyone can quote a 3 digit (3 digit!) cvv number over a phone and use your card with the number printed on the back!
The crypto tipping point is still perhaps years away, but amongst many trash crypto currencies there are a few coins that will prevail and perhaps be a large part of the global financial system future.
I don’t have to pay any capital gains tax when using my Roth account so I’ve been trying to buy and sell a bit to maximize gains in there.
At first, I just felt more comfortable using my Fidelity account, but I have been considering cashing out after long term capital gains tax is incurred, and setting up an account where I can also gain interest for loaning out ETH stored in a digital wallet. When ETHE becomes an ETF, I’m expecting a premium boost; I bought it when it was below the premium.