No paper, no plastic, no metal, and yet with Bitcoin, there’s a major environmental problem. The CO2 emissions associated with mining activities mean that bitcoin consumes as much energy annually as the whole of Argentina. https://www.finanza.com/Finanza/Notizie
This is why the Mongolian Autonomous Region of China has decided to ban new cryptocurrency mining projects and is considering closing existing activities in an attempt to reduce energy consumption. Mongolia alone accounts for about 8% of all bitcoin extraction globally, more than the United States accounting for 7.2%. From April 2021, all cryptocurrency mining operations in Mongolia could become illegal if the Autonomous Region of China approves the latest draft of a new regulation drafted by the Commission on Development and Reforms.
Bitcoin is based on a decentralized network, which means it is not issued by a single entity as a central bank. Transactions, recorded on a public ledger called a blockchain, must be "verified" by the miners. These miners run computers specifically built to solve complex mathematical puzzles that actually allow bitcoin transactions to take place. Miners get bitcoins as a reward and that’s the incentive. But because computers are very powerful, they consume a lot of energy. Bitcoin mining consumes about 128.84 terrawatt-hours per year of energy - more than whole countries like Ukraine and Argentina, according to the Cambridge Bitcoin Electricity Consumption Index, a project of the University of Cambridge. China accounts for about 65 percent of all bitcoin extraction globally.
First Bitcoin ETF made in the USA warmed upMeanwhile, the Chicago Board Options Exchange (CBOE) is seeking SEC approval for the listing of the first bitcoin ETF on the latest attempt to launch such a product in the United States. The deposit arrived as Citi analysts said the most popular cryptocurrency was at a "turning point" and could become the preferred currency for international trade, while Reuters reported that Goldman Sachs Group restarted its cryptocurrency trading desk. Yesterday the bitcoin has raised the head with a +10% in wake to the return of the appetite for the risky assets. Yesterday, Citi’s analysts stated that the cryptocurrency is at a critical point. "The future of Bitcoin is still uncertain and short-term developments are likely to prove decisive as currency balances are at the turning point of mainstream acceptance or speculative implosion.", says Citi.The important openings coming from companies such as Tesla and Mastercard could represent the beginning of a "massive transformation" in the mainstream and make bitcoin the reference currency for international trade,