Re:I, Token: The untold story of the hole in Bitcoin's heart
by drdeca on Saturday July 31, 2021 @06:18PM
(#28021991)
The bitcoin price is correlated with the price of other cryptocurrencies. Greater bitcoin price -> greater other-cryptocurrencies-price -> greater motivation for people to mine these other cryptocurrencies -> greater demand for GPUs for mining.
Well, I suppose I'm conflating correlation with causation here. Are the two correlated because a higher bitcoin price produces a higher other-cryptocurrencies price, or the other way around, or another thing which causes both of them, or maybe some mix of some of these 3?
You see it as a threat? Fine. But if you’re gonna be rational focus on all the things that impact you - don’t just listen to propaganda parroting the same things over and over again.
On a side note: at least for BTC GPUs have not been a viable option is quite a while. also, mining happens in areas with low electricity prices - so not sure either of these arguments have legs.