[kwlug-disc] Peak crypto?

[Chris Frey]

On Wed, Jan 19, 2022 at 05:51:40PM -0500, Khalid Baheyeldin wrote:
> - Every year, it is exponentially harder to "mine" Bitcoin because of the way
> the system works. That directly translates into custom ASIC rigs that last
> less than a year, then go to the landfill, as well as exponential growth in
> power usage unnecessarily.
> 
> I say unnecessary, because power usage is something that Bitcoin uses because
> of the harder hashes that should be solved.

As I understand it, at some point there will be no more new bitcoins
in a mining operation.  Only fees for transations.

Do you think this will reduce the gold rush behaviour?

- Chris