When it comes to currencies that are used in daily life, I believe that the first thing that everyone thinks of is currencies such as RMB and US dollars. However, in fact, there is also a type of virtual currency that is not accessible in daily life. The most typical one is Bitcoin.
In fact, for Bitcoin, I believe that friends who pay more attention to information on the Internet are not unfamiliar with its name. According to relevant data from established universities in 2021, due to the matter of Bitcoin “mining”, The electricity consumption has reached as high as 134.89 terawatt hours, which is enough to meet Malaysia’s electricity consumption for a year.
Many friends may have only heard of the name Bitcoin, but what exactly is Bitcoin? How is so-called "mining" performed? Why is power consumption increasing because of this?
Bitcoin is a virtual currency that mainly relies on computer operations and is generated through a large number of calculations. This currency can also be directly used to make some cross-border trade payments and remittances. Although the number of this type of currency itself is not large compared with other virtual currencies, this type of currency has still caused certain adverse effects in our country.
One of the most terrifying things is that Bitcoin is generally used for the conversion of illegal fund-raising.
Before May 2021, hydropower stations in the Yungui Mountains of my country had cheap electricity traded with Bitcoin, and there were also related incidents of using Bitcoin to purchase cheap coal in the Xinjiang region of my country. Faced with such a thing , our country has vigorously suppressed this currency transaction.
Because if this matter is not stopped in time, by 2024, our country will consume 3.5 years of Three Gorges Dam power generation under the influence of Bitcoin. This matter is very important to us. A huge waste of resources. Furthermore, the application of this virtual currency is very likely to involve the operation of some black industries. Whether from the perspective of our country's own monetary sovereignty or from the perspective of national security, it is impossible to tolerate this virtual currency continuing to operate in our country. Rampant.
In addition to understanding the nature of Bitcoin itself, what exactly is "mining"? "Mining" in Bitcoin mainly refers to the process of using a computer to obtain Bitcoin. This virtual currency is obtained from calculations in the computer.
In the earliest days, the reserves in Bitcoin mines were still limited to 21 million. If you want to obtain Bitcoin, you need to be able to find more mining areas.
Under such a mechanism, everyone will naturally buy a mining machine with faster computing speed, and this mining machine has evolved from the original home computer to CPU computing, and even has some applications of graphics card, and chips. Therefore, under such prerequisites, the operation of the hard disk will cause great power consumption, so a lot of power will be consumed during use.
The most important thing is that with such a high power consumption, the value of the Bitcoins exchanged is not worth mentioning. As early as 2008, when the subprime mortgage crisis broke out, the developers of Bitcoin were still trying to use this type of electronic currency to challenge the hegemony of the US dollar. At the beginning, it was only carried out among programmers . It was spread on a small scale, but later it expanded to the circle of technology enthusiasts.
This also gradually made Bitcoin widely spread around the world, and eventually even moved into the black trading industry. Maybe the original intention of building it with money was good, but later its direction has gradually deviated from a normal track, and it has not even fulfilled the function of a basic currency.
, so its value is not worth mentioning at all in the end. And it has always been outside the circulation system of real commodities. It is more like a form produced under the bubble economy.
In summary, Bitcoin, the virtual currency itself, does have a certain payment function, but acquiring this currency consumes a lot of electricity, and the value obtained is not There is real meaning.
And contrary to the original intention of producing this virtual currency, it has now even turned into a black industry that everyone is completely opposed to, and has even become a shelter for some crimes. If it is allowed to continue to develop in our country, the consequences will be quite disastrous.
From these aspects, the development of this currency is like a microcosm of a country's short-term development. As for the currency market, there is now an extremely obvious mainstream currency development in the world.
Like our country, we naturally adhere to our country’s monetary sovereignty. After all, the currency that everyone holds now is the RMB with Mao Zedong printed on it. This in itself is a great sense of security for us. Do you think this is the case?
