Here is an interesting article on Bitcoin. I have yet to purchase or short any cryptocurrency and have no plans to either. As Eknath Easwaran once said “there is nothing to be ashamed of in living a simple life.” I’m cool with a handful of stocks and mutual funds. I’ll pass on crypto and meme stocks.
Back to the article. I didn’t think about the environmental impact of mining bitcoins. As stated in this article, greater awareness of the negative environmental consequences may be the catalyst to burst this bubble. To think, the fervor driving up the price of Bitcoin induces more mining which leads to greater electricity use and environmental erosion.
Have a good week everyone,