US government tracking the energy implications of booming bitcoin mining in US.

Over 2 percent of the US’s electricity generation now goes to bitcoin::US government tracking the energy implications of booming bitcoin mining in US.

  • linearchaos@lemmy.worldEnglish
    82·
    11 months ago

    I’m not an economist or anything, but I don’t think it’s a sunk cost fallacy I think it’s just a market. They’re all mining both. Just leaning heavier on whichever one makes them more money in the moment. The market is going to have a hell of a lot of inertia.

    • lad@programming.devEnglish
      71·
      11 months ago

      The market is run by people, and people have been proven not to be rational. So, sunk cost easily applies to the market

      • linearchaos@lemmy.worldEnglish
        2·
        11 months ago

        Come on, that’s logic 101

        All a are b

        some b are c

        all a are not c.

        You can’t even claim that most A are C with that logic

    • fruitycoder@sh.itjust.worksEnglish
      2·
      11 months ago

      That’s a good point a lot of the crypto markets influence is still more focused as an investment vehicle for getting more fiat wealth, that’s more reasonable to me. I guess I am just a die hard engineer and the practical uses matters a lot more than the price of tulips.

      • linearchaos@lemmy.worldEnglish
        2·
        11 months ago

        I mean honestly you’re right. Nobody should be left on the Bitcoin side from an environmental or a cost standpoint. But I have no idea how long it’s going to take to catch up.

        I will say that at some point if there is an awakening, bitcoin’s going to crash so f****** hard. And the first ones out are going to make all the money.