this post was submitted on 03 Feb 2024
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398
Over 2 percent of the US’s electricity generation now goes to bitcoin (arstechnica.com)
submitted 9 months ago by [email protected] to c/[email protected]
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Over 2 percent of the US’s electricity generation now goes to bitcoin::US government tracking the energy implications of booming bitcoin mining in US.

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[–] [email protected] 11 points 9 months ago (2 children)

If you destroy Bitcoin, another currency would take its place.

[–] [email protected] 28 points 9 months ago (1 children)

Good. Most don't use proof of work anymore because they don't feel the need to watch the world burn for no reason other than propping up techno bros.

[–] [email protected] 5 points 9 months ago (1 children)

A lot still do, and that's where the miners would go

[–] [email protected] 10 points 9 months ago (1 children)

If governments started regulating bitcoin because it was proof of work based then people aren’t going to pump real money into another proof of work scheme to replace it - why would they take the risk of it happening again when there are alternatives? the mining profit margins would disappear and so would they.

[–] [email protected] 3 points 9 months ago (1 children)

It woulf take years and years to pass such a ban in a significant number of countries - assuming they would ever want to cooperate on this, that is

[–] [email protected] 2 points 9 months ago

Oh I think that’s probably true, but the question assumed it taking place