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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] 39 points 9 months ago* (last edited 9 months ago) (30 children)

Is it not a way in which some governments could collaborate to end this Bitcoin madness?

Genuinely question.

Like maybe some big countries could agree to collaborate and join resources to make a 51% attack and bring Bitcoin price to 0 so people stop wasting resources on it.

2% of enery usage for something that do not add any value to society is INSANE.

[–] [email protected] 11 points 9 months ago (6 children)

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

[–] [email protected] 28 points 9 months ago (4 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