The above is a link to an article about how Russia is trying to cope with shortages . . .
Inside the article it talks about how 'Mining Bitcoin' is exacerbating electricity shortages within Russia.
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As the war progressed Russia encountered growing energy shortages. A major cause of this was increased Bitcoin mining. To create a new Bitcoin requires a lot of computer power and enormous amounts of electricity. Russia partially financed its war in Ukraine via extensive Bitcoin creation, or mining. The energy requirements are so high that Russia has had to limit the use of electricity by industries and even some civilians. Before 2023 Russia exported electricity to China, now it imports it from China and other countries.
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So, Bitcoin requires lots of computer servers and TONS of electricity to 'make' . . .
Russia has beeen using BitCoin to help finance its little adventure in Ukraine. . . .
North Korea been stealing the stuff . . .
AND, I can't even buy groceries at the store with it.
Are 'we' sure this bitcoin thing isn't a scam by the uber-rich to keep themselves rich?
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