tech

China's bitcoin crackdown sparks fears of dirtier cryptomining

10 Comments
By Umberto Bacchi and Beh Lih Yi

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10 Comments
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Well done great mother China !!!..

Sooner or later the cryptofarse bubble will explode for ever !!..

Cryptobelievers, look for a decent job soon before your childish bubble bursts and you lose everything.. LOL !!

-5 ( +3 / -8 )

look for a decent job soon before your childish bubble bursts and you lose everything.. LOL !!

No need for it, crypto already gave me enough to live a comfortable life for the foreseeable future.

You should learn how blockchain works and how it is changing the world before ranting about it online.

-1 ( +3 / -4 )

Instead of taking the world's resources and turning them into something of utility to be sold for money, taking the resources and turning them directly into money. It almost feels like destiny.

The amounts of energy used for Bitcoin are so huge I struggle to get my head around it.

-1 ( +1 / -2 )

Crypto traders are interested in cashing out with big gains and turning their crypto into US Dollars, while claiming the US dollar is worthless and the entire Fiat currency system is going to crash and burn. They make no sense at all.

0 ( +2 / -2 )

You should learn how blockchain works and how it is changing the world before ranting about it online.

All those energy consuming blockchain calculations accomplish is to demonstrate someone hasn't counterfeited a Bitcoin. It serves no other purpose. The whole thing is a self licking ice cream cone that consumes staggering amounts of energy.

1 ( +2 / -1 )

Not all blockchains require Proof of Work.

0 ( +1 / -1 )

Crypto traders are interested in cashing out with big gains and turning their crypto into US Dollars, while claiming the US dollar is worthless and the entire Fiat currency system is going to crash and burn. They make no sense at all.

They are only turning "profit" in fiat, not their main investment, because our society does not provide yet a full way to live on crypto-only thanks to banks and gov (SEC), so it does perfectly make sense however things are changing like in San Salvador for example, recently accepting crypto as legal tender.

-1 ( +0 / -1 )

Cryptocurrency should be banned around the world best for illegal activity.

1 ( +2 / -1 )

people focussing on the "currency" part are laughable. The blockchain technology is what is the world changer and it will be integrated into almost every part of our lives. People who are sniggering about "cryptofarces and bubbles finally popping" will be using the tech everyday and won't even know it. To use these devices will have to use the native token, it will be the currency for the network, which will be traded by people in the know.

1 ( +2 / -1 )

Unstated is the matter than China is experiencing a major shortage of electricity. Businesses in major industrial regions of China are being forced to cease operations two days per week. Factory output is down, GDP growth is down. Coal prices are through the moon since China embargoed Australian coal and has been unable to fully replace it from other sources, so their coal fired powerplants have had to reduce power output.

0 ( +0 / -0 )

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