Im a fan of Peter Zeihan and in general agree with many of his arguments, such as China collapsing by 2030 due to demographics
While aging demographics pose some problem, there's no way it'll make China collapse.
Peter Zeihan - in a world of carbon taxes, cryptos net worths is negative
He goes on to say "crypto is the poster child for the environment from 1990 - 2022 when we had unlimited volumes of capital. Now with that the money is going away, crypto is going away"
This statement is ridiculous since miner could just mine with renewable/sustainable energy which has less carbon and it only has small impact on cryptocurrency which doesn't use PoW. Report by Bitcoin Mining Council also show majority Bitcoin miner use renewable/sustainable energy.
Looking at China , growing inability to keep the power on and growing inability to feed themselves , collapse is not out of the question,
part of the reason they started the PoW ban.
PoW uses an insane amount of energy , carbon taxes would drive up input costs for the miners to increase bankruptcies that are already skyrocketing without carbon taxes.
Now if Franky1 is correct, then the price of BTC will increase to offset the increase in miners cost, but if that were true, then why are so many miners going bankrupt now.
IMO, it is because the VC money that kept the PoW miners afloat has dried up for the majority, and the VC money is what was propping up the price and that is going away.
Bitcoin Mining Council puts out alot of propaganda bullshit,
BTC miners are using power grids that have some renewables as a % of their total which include coal, nuclear, & natural gas as the bulk %.
The Polar Vortex in the US, just caused 30% of the bitcoin hashrate to go offline for 3 days to avoid grid failure, this caused a decrease in the speed of finding new blocks, the only thing saving BTC, is hardly anyone is using it's blockchain anymore.
The Lack of VC money will hurt all crypto, killing most and only the very strong top 20 Non-PoW coin networks will survive and any tokens running on those networks, the rest are just fucked.