Governments now face the challenge of dramatically reducing greenhouse gas emissions in order to combat abrupt climate change. They will now look for any opportunity to show this fight. Cryptocurrency is a very successful object for this. Therefore, no matter how much energy Bitcoin and other cryptocurrencies that use the PoW algorithm consume, they may well be the object of this struggle, given that states practically do not need cryptocurrency.
Already, there are calls from some high officials of states to ban the mining of cryptocurrencies that have the PoW algorithm. It is very convenient for states to attack cryptocurrencies from this point of view.
The government know what they are doing, and they are clearly aware that Bitcoin isn’t the main problem that they have in terms of what’s causing climate change. They are just attacking Bitcoin with every reasons that they have, just because they feel that it is something that is out of their control. So, that is why they’re always hitting at it, and doing everything possible to stop everyone from making use of Bitcoin.
If they really want to stop this problem of climate change, then they know the areas that they will start from, which is mostly from the building, Construction sector, and the transport sector. Bitcoin doesn’t even consume up to 1% of what these three sectors are consuming. I won’t talk about the health sector, because when it comes to health, we have to do everything possible to ensure that people’s lives are saved. So, the mainf ocus should be on other sectors that are energy demanding, and not on Bitcoin because Bitcoin doesn’t consume much.
