Daniel Muhlenfeld News Today : Breaking News, Live Updates & Top Stories | Vimarsana

“When you subsidize something, you get more of it. RON PAUL I have a friend who once described Bitcoin to me as an organism which feeds on electricity subsidies. Bitcoin searches out the lowest cost of electricity available and consumes as much of it as it can to produce profit for the miners, since electricity costs are their biggest costs. This is partly why China, for years, attracted the lion’s share of Bitcoin mining. Miners could co-locate next to hydroelectric power plants in China and suck up every extra available cheap and subsidized kilowatt-hour. This is the essence of the … Continue reading →

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