I have not heard the argument of Bitcoin not surviving the coming winter. Does that refer to the actual season (weather) or the metaphor used to describe grim bear markets? I'm assuming it would be more of the former, as Bitcoin has been through multiple market cycles, but would appreciate a bit of clarity.
I meant that literally. Some people actually believe that power utilities will kick miners off this coming winter to have spare power for everyone else!
This talking point is also reusable at the opposite time of the year - they say that utilities will kick miners off during the summer heat waves so that there's more power for ACs.
People lives are worth more than btc,
so when the power rationing increases as it will because of energy mismanagement by the world governments.
They will ban PoW, to save as many people as possible.
If you look at https://poweroutage.us/
Texas right this second has ~27000 homes without power,
Arizona has ~21000 homes without power
California has ~12000 homes without power.
Plus an early warning has already started for PoW,
the prelude to the bans,
Energy Utilities raising the energy rate so high, that the miners just shut down.
IE:
https://www.coindesk.com/business/2022/09/01/bitcoin-mining-middleman-compass-georgia-facilities-to-close-as-energy-prices-soar/
Quote
Two Georgia facilities used by Compass Mining, a middleman that allows retail investors to participate in bitcoin production, are closing as power costs in the U.S. state soar.
The owner of the sites is shutting down because the local utility provider has increased prices, a major cost for bitcoin mining, by more than 50%, Compass co-CEO Thomas Heller told CoinDesk on Thursday by email. The company heard the news from the facility owner yesterday afternoon, he said.
The owner of the sites is shutting down because the local utility provider has increased prices, a major cost for bitcoin mining, by more than 50%, Compass co-CEO Thomas Heller told CoinDesk on Thursday by email. The company heard the news from the facility owner yesterday afternoon, he said.
Look where they think , it is safe to go , TEXAS, which at the moment has the highest power outages in the US.
Look, many think this is all fud, but I assure you ,
this is the reality of where this world is headed, and it will be ~10 years before the energy situation can be repaired by to a reliable power grid.
The baseload power requirements have been ignored for over , in favor of green energy which can not support 24x7 baseload,
and at the moment Nuclear or Tidal energy are the best solutions, and it will take ~10 years for enough new one to just keep our grids stable.
Their are no 1st world countries anymore, starting this Winter, every country on the Planet is a 3rd world country unable to keep the power on 24x7 for it's citizens.
