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English => News => Topic started by: Redaktion on January 25, 2022, 13:15:52

Title: Bitcoin mining presents a threat to the American power grid, warns credit rating agency
Post by: Redaktion on January 25, 2022, 13:15:52
Adding to the worries of cryptocurrency investors, the credit rating agency Fitch has issued a statement defining Bitcoin mining as a potential threat to the stability of the American power supply system. Not only is crypto mining energy-intensive, Fitch says, but the plunge in Bitcoin prices could force farms to renege on their long-term electricity supply contracts.

https://www.notebookcheck.net/Bitcoin-mining-presents-a-threat-to-the-American-power-grid-warns-credit-rating-agency.595399.0.html
Title: Re: Bitcoin mining presents a threat to the American power grid, warns credit rating agency
Post by: Pooh Sheisty on January 25, 2022, 16:57:25
Don't believe this for a second
Title: Re: Bitcoin mining presents a threat to the American power grid, warns credit rating agency
Post by: vertigo on January 26, 2022, 17:21:01
Not only would rates increase, putting the cost of this BS on everyone else instead of the ones reaping the profits of mining, but taxpayer money will likely be funneled into it as well, seeing as electric utilities are too big to fail. America really will never learn.

Quote from: Pooh Sheisty on January 25, 2022, 16:57:25
Don't believe this for a second

Ok, I'll believe you instead. Your thorough argument against this has persuaded me.
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