Bitcoin miners are buying power plants
It’s a simple equation:
So long as there is more money in mining BTC than there is cost in energy to mine it, mining will proceed.No entity in the world can control the price of crypto. But, we can and already do regulate energy production.I think we need a carbon tax, that is specifically a financial disincentive towards any means of energy production that directly pollutes the atmosphere.Seriously, what are the current best arguments against levying such a disincentive?Moreover, if energy were priced correctly (its toll on the climate priced in) would BTC become higher in value? That is, we have a supply, increasing at a rate fixed between the arbitrage of energy and mining efficiency. If energy were to become more expensive, the growth in supply would slow. Assuming demand remains constant or continues to grow as well, the only way for price to go is up.