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Just 137 crypto miners use 2.3% of total U.S. power — government now requiring commercial miners to report energy consumption (www.tomshardware.com)

submitted 9 months ago by [email protected] to c/[email protected]

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[–] mindbleach 2 points 9 months ago

Back in early days - since this is yet another Big Thing that whizzed right past me - the appeal of mining was to create necessary infrastructure. Participation trickled out rewards. Yeah, turns out an audience of engineers will instantly turn that into an optimization puzzle. In a heartbeat you have FPGAs, GPUs, and genuine ASICs shoving out the broad base of support in favor of a core with control over a majority of the network. "Satoshi" aimed for Tor and whiffed.

Anyway, the value of any currency is what it represents, and a currency that can't buy anything represents diddly over squat. Genuinely the entire market right now might be detached from reality. It's not just irrational - it's fictional. You can't even plant Bitcoin and get a pretty flower.