Sorry! The plan is to, you guessed it, mint more shitcoins.
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Did we seriously give these guys 4 billion dollars? What a world.
brutal. I honestly had thought these were more regulated, but following the wake of bush/obama/trump deregulation I guess I shouldn’t be surprised this went on to the degree it did.
One is backed up by nukes, the other by loss of Twitter social cache
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Right, this is the actual difference. Minting more shitcoins to get out of bad debt is precisely how the current global reserve currency functions. Crypto is an attempt to replace nukes with decentralized governance and code. Maybe it fails, but it’s a noble attempt.
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reading various reddits it does seem like a significant number of people are actually suicidal over this, seems in pretty poor taste to mock people that lost a ton
Idk, man, think I’ll take the nukes.
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In reality it’s been a net negative (ransomware, waste of power). Also Bitcoin can be effectively controlled by like 3 mining syndicates.
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The Fed’s hiding money in panama? Wow good to know bro
This fucking guy
More than a third of the global computing power dedicated to mining bitcoin, the largest cryptocurrency, comes from the US, Senator Elizabeth Warren and five other Democrats reported in a letter to the Environmental Protection Agency.
“The results of our investigation … are disturbing … revealing that cryptominers are large energy users that account for a significant – and rapidly growing – amount of carbon emissions,” the letter states. “It is imperative that your agencies work together to address the lack of information about cryptomining’s energy use and environmental impacts.”
The congressional Democrats have asked the EPA and the Department of Energy to require cryptominers to disclose emissions and energy use, noting that regulators know little about the full environmental impact of the industry.
“The more crypto mining that comes into the state, the higher the residents should expect the electricity prices to become,” Eric Hittinger, a professor at Rochester Institute of Technology, told the outlet.
it’s amazing that even crypto donks would be lining up to give this guy more money
