Crypto mining is an environmental issue that can not be ignored. World governments have tried to shut it down, but are still struggling as crypto grows in popularity.
Will crypto mining be able to operate if technology still has a high impact on the earth? Or it will evolve over time and adapt to the land before governments continue to attack the cryptocurrency.
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Crypto war with mining…
China has been at the forefront of crypto-barriers, the war between the two sides is only growing, it is getting tougher. China bans Bitcoin (BTC) mining, trading and crypto services. The reason the Chinese government puts pressure on Bitcoin is to reduce its well-documented impact on the climate. There is a lot of speculation about others, such as Turkey and India, but one thing we do know is that China has a huge influence on the activities of some countries to ban, this will only inspire more to come back.
The problem with crypto mining is the carbon footprint it leaves on this planet և how it affects the natural resources we leave behind. Currently, less than a third of global electricity comes from renewable sources. If this share went entirely to cryptocurrency mining, it might look stable, but it would be a little more than a fig leaf.
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It did not take long for China to become one of the leaders in cryptocurrency mining with Russia after the Chinese embargo, and many followed it, which may be due to the fact that each country wants to become the world leader in cryptocurrency. The United States seized the opportunity to become the new mining center of the world due to the Chinese ban. In Asia, Kazakhstan and Malaysia are boosting mining, as are Germany, Ireland in Europe and Iran in the Middle East, according to the latest statistics.
Efforts to continue crypto mining are creating some very strange geopolitical beds. Bitcoin was revolutionary when it came out in 2008. It paved the way for a new digital economy. Evidence of the work was revealing in terms of decentralization և security, but its ineffectiveness presented us with a time bomb. This bomb is exploding now.
Finding a way out of the mining industry and technology will help keep it alive, and we’re prolonging an end that has long accumulated due to climate change awareness misconceptions, as well as crypto’s popularity and growth. Yes, the United States is having a hard time, but how long will it be before they stop using coins, like bitcoin, to discuss more energy projects? We can not assure anything, but only look at what is happening around us, as krypton grows, as well as the demand – the need that will continue mining, but also the war – until a new solution appears.
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