this post was submitted on 03 Feb 2024
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Over 2 percent of the US’s electricity generation now goes to bitcoin (arstechnica.com)
submitted 9 months ago by L4s to c/technology
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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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[–] General_Effort 1 points 9 months ago (1 children)

Anything that makes bitcoin more valuable is a financial benefit to all people holding bitcoin. Anyone who has a brilliant idea is financially better off by making their own coin.

Miners, who have money tied up in bitcoin-specific hardware, have a vested interest in maintaining the POW system or else their capital loses value.

There are probably exchanges short on bitcoin that stand to profit from a decreasing price.

So yeah. Someone crippled bitcoin. That someone is Satoshi.