#limitingelectricsupply

Cryptocurrency Regulation through Limited Electricity Supply

Practically everything requires electricity these days, and that includes bitcoin mining.

We know that China once attempted to outlaw cryptocurrency, and the attempt failed.

Now China wants to target Bitcoin miners by limiting their supply of electricity.

The problem is that China is one of the leading producers of Bitcoin in the world. And Bitcoin miners are consuming up to 4 gigawatts of electricity.

Most will probably agree that the action is as much about concerns about electricity usage, as it is about China’s continuing desire to restrict cryptocurrency.