This Is What Happens When Bitcoin Miners Take Over Your Town

funny-gifs (61)in #bitcoin • 7 years ago

These are my thoughts. Bitcoin is not environmentally friendly and is a huge waster of electricity. Also, as the cost of mining an individual Bitcoin increases it will become self-limiting.

If you have already made money by speculating in Bitcoin I am happy for you. My advice is to take at least a part of your profit before the whole bubble comes crashing down. As a minimum recover your initial investment while you can. This fad won’t last forever.

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Check out this Article for more detail :

https://www.politico.com/magazine/story/2018/03/09/bitcoin-mining-energy-prices-smalltown-feature-217230?cid=apn

#blockchain #cryptocurrency #news #beyondbitcoin

7 years ago in #bitcoin by funny-gifs (61)

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techwizardry (65) 7 years ago

"These are my thoughts. Bitcoin is not environmentally friendly and is a huge waster of electricity."

There is another side to that argument: bitcoin mining may drive innovation in alternative energy like never before. There is enough of a financial incentive now to develop new solar tech, and I would not be surprised if some of the biggest mining outfits start funding research teams.

$1.09

3 votes

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mysticus (38) 7 years ago (edited)

I completely agree with that. Many of us are currently exploring how cryptocurrencies can accelerate the development of new technologies producing almost free, abundant and clean energy. This, combined with the model of decentralization inherent to Bitcoin, has the potential to enable a new model of decentralized energy production & distribution.

$0.93

1 vote

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