2026 TeoTwawKi ... 2032 Darkest Interregnum Message Board

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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 382.95

-0.8%

Nov 13 4:00 PM EST

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To: carranza2 who wrote (188773)	6/14/2022 12:34:30 PM
From: Snowshoe	Read Replies (2) of 217749

Bitcoin in the low 20s is suddenly below mining cost... What Bitcoin’s nosedive means for the environment Its price dipped below a key benchmark Bitcoin’s value has nosedived enough to curb the cryptocurrency’s enormous energy use — and associated greenhouse gas emissions — but only if prices stay low. The price of a single Bitcoin plummeted below $24,000 today, about half of what it was worth in March. While it’s been steadily losing value for months, the sudden tumble in value over the past 24 hours brings the price below a key threshold when it comes to Bitcoin’s impact on the environment. Since Bitcoin’s price peaked at around $69,000 in November, the network’s annual electricity consumption has been estimated to be between roughly 180 and 200 terawatt-hours (TWh). That’s about the same amount of electricity used by all the data centers in the world every year. "Higher prices generally incentivize more mining" Higher prices generally incentivize more mining since the reward is bigger. But prices don’t have to linger at that peak for Bitcoin to stay energy-hungry. As long as the price stays above $25,200, the Bitcoin network can sustain mining operations that use up about 180 TWh annually, according to research published last year by digital currency economist Alex de Vries. Prices below that $25.2K threshold could push miners to pause operations or mine less because they don’t want to risk spending more money on electricity than they earn from mining new tokens. Full story: theverge.com

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