The cost of crypto mining and the ban hammer.

in #bitcoin4 years ago


https://www.extremetech.com/extreme/265856-new-york-city-issues-temporary-ban-bitcoin-mining

This actually makes sense, and should have probably been a foreseeable eventuality.

This is part of the reason I have been leary of wanting to do anything with crypto, especially mining. And I understand that without mining, it no longer really works...but it is taking more and more energy to continue doing it. How long before more and more areas start banning mining?

Is there an event horizon, or is crypto just going to keep consuming more and more energy the longer it stays in the wild? And how will this affect the prices? Not to mention the carbon footprint that needs to be considered.