US wants to know bitcoin electricity usage in the country - page 3.

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Quote from: Oshosondy on February 02, 2024, 11:18:14 AM

Let us hope these people are not trying to come up with something.

I will give you the answer here as well as elsewhere Wink

The US lacked some energy because of the cold days, so it is somehow easiest to look at Bitcoin as the culprit. Bitcoin is a consumer of electricity, but certainly not as it is presented. Cointelegraph could do some research

check this https://bitcoincleanup.com/

or references listed at https://endthefud.org/

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Quote from: Oshosondy on February 02, 2024, 11:18:14 AM

Let us hope these people are not trying to come up with something.

Of course they will after all that mandatory survey made, we just don't know what it is, new tax regulations, new policy might be good, but banning it will be the worst scenario.

Quote from: AbuBhakar on February 02, 2024, 11:22:45 AM

This is madness and crazy at the same time. Why they keep torturing Bitcoins like this while there’s a lot of factory that consumes tons of energy and producing waste at the same yet there’s no serious complaint about it despite bunch of global warming advocacy against it.

Don't talk like the survey have already done that it will end up in always as a bad news, it could be just new policy and innovation for good, or just tax related policy.

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Quote from: criptoevangelista on February 02, 2024, 11:41:30 AM

Maybe it's just to attract attention while they make another kind of lame move typical of politicians.

We all know that mining uses most of the energy that would be wasted or renewable energy, otherwise this line of activity would not be profitable.

It's a possibility. Some think the focus on Bitcoin's energy use is a bit of a distraction, drawing attention away from other political moves. And you're right, many miners aim to use cost-effective or renewable energy to stay profitable. The debate continues on how to balance crypto activities with environmental concerns

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The EIA has conducted a rigorous evaluation of U.S. crypto mining activities using public data and estimated it to represent as much as 2.2% of U.S. electricity consumption.

The University of Cambridge’s Bitcoin Electricity Consumption Index estimated worldwide Bitcoin mining used 121.13 terawatt-hours of electricity in 2023. The entire country of the Netherlands, with more than 17 million people, consumed 121.6 terawatt-hours in 2022.
https://www.cnet.com/home/energy-and-utilities/how-much-power-does-crypto-use-the-government-wants-to-know

While it’s understandable to have concerns about what the administration might do with this data, it’s also important to remember that understanding the energy consumption of Bitcoin mining could lead to more informed policies and regulations. It could potentially lead to innovations that make Bitcoin mining more energy-efficient, or it could influence the development of renewable energy projects. Let’s hope for a positive outcome.

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Maybe it's just to attract attention while they make another kind of lame move typical of politicians.

We all know that mining uses most of the energy that would be wasted or renewable energy, otherwise this line of activity would not be profitable.

AbuBhakar

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Quote from: Oshosondy on February 02, 2024, 11:18:14 AM

I first saw it in Twitter:

Quote from: https://twitter.com/CryptoKingKeyur/status/1753310964798337025?t=bcHV0YrrAJC8docbuJ6jhA&s=19

🚨 BREAKING: 🇺🇸 The Biden Administration has issued an "emergency" data collection initiative to identify the electricity usage of the #Bitcoin mining industry in USA 😳

Then I saw it on the news: https://cointelegraph.com/news/us-crypto-mining-electricity-survey-energy-department

Let us hope these people are not trying to come up with something.

This is madness and crazy at the same time. Why they keep torturing Bitcoins like this while there’s a lot of factory that consumes tons of energy and producing waste at the same yet there’s no serious complaint about it despite bunch of global warming advocacy against it.

Biden Administration is hypocrites to its finest on focusing alone on the power consumption of Bitcoin as if it’s the only thing that consumes power in their country. Their banks is already collapsing, this is probably their retaliation to make people focus on their shit banks and discouraged the use of Bitcoin.

Oshosondy

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I first saw it in Twitter:

Quote from: https://twitter.com/CryptoKingKeyur/status/1753310964798337025?t=bcHV0YrrAJC8docbuJ6jhA&s=19

BREAKING: The Biden Administration has issued an "emergency" data collection initiative to identify the electricity usage of the #Bitcoin mining industry in USA

Then I saw it on the news: https://cointelegraph.com/news/us-crypto-mining-electricity-survey-energy-department

It is a six month mandatory survey.

Let us hope these people are not trying to come up with something.

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