Cryptocurrencies like Bitcoin were meant to be used as digital cash. Instead, they've become popular as speculative investments.
Proof-of-work mining can be thought of as a controlled way of wasting energy. The process involves specialist computers repeatedly taking random shots at guessing a long string of digits. The amount of computing power dedicated to this effort is referred to as the network's hash rate.
Whether the guessing game is profitable or not depends on how much the mining outfit has paid to set up their computers and for the energy to run them.generated by coal-fired power stations With the Bitcoin price falling, the financial incentive to waste energy for mining Bitcoin should be lower. In theory, that's good for the climate.around 200 quintillion hashes per secondThe scale of this continued interest means Bitcoin mining at current prices is probably still profitable. But for how long?Bitcoin's value has temporarily dropped below the estimated cost of productionwithout significant long-term damage to the hash rate.
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