The following from https://www.wsj.com/
Bitcoin Miner Bit Digital Adds Machines in Iceland Before Possible U.S. Tax Crackdown
The company is expanding its operations in a bid to hedge the bitcoin-mining company’s regulatory risk amid a proposed a crypto-mining tax from the Biden administration.Bankrupt Crypto Company Celsius Could Get New Life
Apollo Global Management and senior executives at distressed-debt specialist Fortress Investment Group are each backing competing groups that aim to restart Celsius under new management.Unlike the euro or the U.S. Dollar crypto-currency lacks government / federal support. This appeals to some users, not others.
Environmentally crypto-currency consumes substantial energy resources.
The environmental effects of Bitcoin are considerable. One such environmental effect is that it worsens climate change. This is because bitcoins are made using electricity partially generated by gas and coal-fired power plants. When burned, coal and natural gas emit greenhouse gases, which heat the Earth and change the climate. As of 2022, such bitcoin mining is estimated to be responsible for 0.1% of world greenhouse gas emissions. A second environmental effect is the air pollution caused by coal-fired electricity generation, and a third is the e-waste due to the short life expectancy of bitcoin-mining equipment.
Bitcoin is a cryptocurrency made by proof-of-work, while some other cryptocurrencies, such as Ethereum, are made by proof-of-stake, which consumes less electricity. As of 2022, the Cambridge Centre for Alternative Finance (CCAF) estimates that Bitcoin consumes around 100 TW⋅h (360 PJ) annually, and says bitcoin mining uses about as much electricity as Egypt.
source: Wikipedia
A retail customer can't transact e-tail, Internet transactions with "fiat", paper $money. BUT, private bankers offer free credit cards which can then be used to transact e-commerce conveniently.
AND ! Those private bankers not only provide the medium of exchange, but also assume the risk, so the retail / e-tail customer has some protection from fraud.
SO:
Is crypto-currency a benefit to you? Do you use it? Gotny? $How $Much? What do you do with it?
Are crypto-currencies a net benefit? Or an environmentally detrimental fad?
