Heatmap News: Crypto-mining accounts for 2% of all U.S. electricity usage. (Bitcoin alone consumes the same amount of energy as the entire state of Utah.)

Crypto-mining accounts for 2% of all U.S. electricity usage. (Bitcoin alone consumes the same amount of energy as the entire state of Utah.)

Crypto Mining Consumes a Mind-Boggling 2% of U.S. Electricityheatmap.news Bitcoin alone consumes roughly the same amount of energy as Utah.

I know other things that aren't necessary take energy too - waterparks, cruises, all sorts of things - but what makes this most galling is that crypto doesn't add anything tangible to the world. It's just a money laundering tool for crims & a gambling opp for those who think markets keep going up.

Especially considering blockchain-based cryptocurrency as such doesn't require wasting energy on mining/proof of work bullshit. All that stuff exists solely to maintain artificial scarcity, because Bitcoinbros are basically Austrian goldbugs are heart. Bitcoin is an investment asset, not money.

You can tell they are too, because they call real money "fiat", as though crypto isn't itself a perfect textbook example of a fiat currency.

Hell, GOLD is a fucking fiat currency. It was imposed by modern nation-states, by collecting taxes in it and paying soldiers in it.

so you fuck with Debt: The First 5000 Years?

Definitely. Also with the idea that credit doesn't have to be lent "against" savings, but only requires a unit of account for coordinating production streams.

💯.

they think some other dummy will think markets keep going up for longer

Evergreen

I'm not a smart person but wouldn't it literally save energy to light these mining rigs on fire? It'd be illegal but it'd be an energy win, right?

God do I hate bitcoin.

We'd all be better off if bit coin miners all got real jobs and actually contributed something to the economy.

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