Bitcoin surpasses $50K as major companies jump into crypto

Re:Bitcoin surpasses $50K as major companies jump into crypto by DennisP on Tuesday February 16, 2021 @08:11PM (#26161299)

A carbon price wouldn't damage Bitcoin. Electricity costs for some miners would go up, some would drop out, hash rate goes down, difficulty adjusts to keep blocks coming out every ten minutes, and everything continues as before.

(Still think proof-of-stake is big improvement though.)

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Re:Bitcoin surpasses $50K as major companies jump into crypto by Wowfunhappy on Tuesday February 16, 2021 @08:13PM (#26161325)

Wouldn't the bulk of mining just move to the one part of the world without a carbon tax? I know that's a danger with carbon taxes in general, but it strikes me as far easier to do with Bitcoin than anything else.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by DennisP on Tuesday February 16, 2021 @09:38PM (#26161989)

Yes, it'd probably need to be some kind of global system to prevent that. Countries doing their own carbon taxes normally add carbon tariffs to imports, but of course that wouldn't help for bitcoin.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by Dma54rhs on Tuesday February 16, 2021 @08:21PM (#26161401)

I believe the bulk of mining already happens at places where electricity is extremely cheap?

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