What do you think about BTC this year and what will happen in cryptocurrency at the year-end?
An increase in power usage might be because more miners a coming on board which has made mining difficult. But the bitcoin mining sector is one of the pacesetters in the quest to promote an environmentally friendly society. In recent times we have seen many miners switch to green power sources more than any other sector.
If computer games that offer just entertainment are consuming more power than a decentralized and transparent financial system like bitcoin, why all this media backlash? The news of bitcoiners contribution to a clean and green environment gets less publicity while any negative news is given wide coverage.
Many smear campaigns against bitcoin are failing because people are becoming more enlightened about the benefits that bitcoin offers as well as the hypocrisy of most policymakers which is why adoption is increasing. I don't expect this report to have any negative effect on bitcoin. If mining is stopped in any country, miners would move to more friendly countries.