Re: Peter Zeihan - in a world of carbon taxes, cryptos net worths is negative
I believe the "so many miners" that are going bankrupt, you are saying they're all Bitcoin miners?
Can you show us a list of who those "so many miners" that went bankrupt?
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.
What if , you really need to think about?
What if the entire world places a carbon tax on btc?
What if the world governments just outright ban proof of waste?
What if, all of the btc cult members are wrong and btc only falls in price from now on?
What if, you were just an idiot that believe a outdated slow failing tech product was a deity?
When Ethereum become #1 on CMK, What if no one cared that btc died.
That's not so many. Hashng power is also at a level higher than the previous cycle.
https://bitinfocharts.com/comparison/bitcoin-hashrate.html#alltime
Plus calling Proof of Stake "better" than Proof of Work merely because it's "wasteful" shows that the person doesn't understand that Proof of Stake is a system for consensus by comittee. Proof of Stake will always be inferior than Proof of Work. It's simply the truth, ask any capable developer who is not a charlatan.