Reports indicate that mining a single Bitcoin now costs far more in electricity than it's worth, even at sky-high prices.
  • Sibshops@lemm.eeOPMEnglish
    72·
    3 days ago

    It stopped being profitable for a few years, even… Everyone is mining at a loss.

    • Sibshops@lemm.eeOPMEnglish
      81·
      3 days ago

      True, I did miss the pump on that as well as on a lot of things including stocks, commodities, etc… However, what’s different about those investments is that they aren’t built on scams, crime, or environmental destruction.

      • Zexks@lemmy.worldEnglish
        1·
        3 days ago

        Lmao. Scams: Tesla Crime: Phillip Morris Environmental destruction: Dexco SA

        Yes they are built on scams. They’re just semi approved scams. There are hundreds more examples in each category spanning over a hundred years.

        • Sibshops@lemm.eeOPMEnglish
          1·
          3 days ago

          Sure, there are bad companies. I didn’t mean to imply that I’m defending them. Take for example pollution. With a lot stronger environmental regulations, we can stop both corporate pollution and crypto pollution, as well.