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Over 2 percent of the US’s electricity generation now goes to bitcoin
(arstechnica.com)
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this post was submitted on 03 Feb 2024
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It's not necessary to perform any of the functions of crypto, including money laundering. That makes it pure overhead; pure waste. There are offshore banks that facilitate tax fraud and other criminal activity. Crypto, somehow, allows exchanges to escape the scrutiny that falls on these banks. Objectively, there is no good reason why all this waste should let you avoid scrutiny of regulators or police.