RE: Signs of crypto adoption - The case of Uruguay
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At one time, energy consumption was a big deal when it came to cryptocurrency. When Bitcoin mining moved from personal computers to dedicated rigs, the rigs just went bigger. Then the rigs became so large that "mines" the size of complete data centers became the norm.
Eventually, energy consumption became a concern for the data enter-sized mines themselves. So it became a mission to find more effective ways of mining Bitcoin. Elon Musk may have has a smaller-than-expected role in this with his tweets, and it's possible this move was already in progress before he made his tweets in 202o or 2021. Likewise with President Nayib Bukele of El Salvador.
It's like cars powered by gasoline. Today's cars running on gasoline still produce exhaust with pollutants (which does not include CO2), but the amount produced today is only 1% of what was produced by a car during the 1970s. It will be similar for crypto mining.
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Yes, I believe that we will become more efficient on the mining side and also on the energy generation side as well.
The FUDers love to play the energy card and I think they will continue doing that for some time
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