Quote from: cryptoaddictchie on Today at 02:08:17 PM

Quote from: Turbolantern on Today at 01:54:29 PM

K...just woke up from hibernation. Can someone sum up the reason for this dump?

Probably due to this news:

https://www.fool.com/investing/2021/12/03/us-and-china-finally-agree-on-something-and-its-no/

--snip--

This seems to be significant though I couldn't find any sources in the article and it was just really a shameless plug for PoS coins as well as some secret trading recipe. Typical.

What happens if regulators DEICDE that all mining is essentially bad for the environment and it is not acceptable that a people's currency takes up lot of electricity? Is it even possible to outlaw something like mining by quoting high energy usage. That's be ridiculous. Wouldn't it be better to do away with Neon Signs first. Or even the constant fuel guzzling that military hardware does. Or just stop centralized Air Conditioning in huge building that house banking infrastructure.

Mining requires individuals to spend energy on the network. What if an individual is willing to do that and pay for it?

It hardly matters whether regulators agree or don't agree. Maybe we'll see a shift from the humungous 180 Exahash of network hashrate towards a more decentralized network that doesn't depend on mining farms but instead on individual home miners. This would actually be the fulfillment of the dream. If this is the reason, there is every chance that the market will bounce back.

For now, it may just be the usual pre-holiday cashing out by some of the biggest miners or individuals.