Re: Peter Zeihan - in a world of carbon taxes, cryptos net worths is negative
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 miners to increase bankruptcies that are already skyrocketing without carbon taxes.
Now if Franky1 is correct, then BTC price will increase to offset the increase in miners cost, but if that were true, then why are so many miners going bankrupt now.
I believe the "so many miners" that are going bankrupt, you are saying they're all Bitcoin miners, not shitcoin miners? Can you show us a list of who those "so many miners" that went bankrupt?
Bitcoin Proof of Waste miners going bankrupt just in the US alone.
https://www.reuters.com/technology/bitcoin-miner-core-scientific-file-chapter-11-bankruptcy-cnbc-2022-12-21/
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Austin, Texas-based Core Scientific attributed its bankruptcy to slumping bitcoin prices, rising energy costs for bitcoin mining and a $7 million unpaid debt from U.S. crypto lender Celsius Network
https://www.forbes.com/sites/colinharper/2022/09/30/bitcoin-minings-first-major-bankruptcy-creates-uncertainty-for-key-partners-opportunity-for-others/?sh=34de5dbb657d
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Compute North, the second largest bitcoin mining hosting provider in the US, filed for Chapter 11 bankruptcy last week.
https://www.bloomberg.com/news/articles/2022-12-20/bitcoin-miner-greenidge-gree-btc-warns-of-bankruptcy-restructures-debt
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Greenidge Generation Holdings Inc., once one of the largest public Bitcoin miners in the US, warned that it may seek bankruptcy protection
No one using Proof of Stake has had to declared bankruptcy because of lack of VC money to cover their ridiculous waste of energy.