Some believe halvings can even lead to less energy being consumed as some of the miners that can’t compete any longer will just give up. Paying a lot for energy to obtain just over 3 bitcoin tokens will no longer make financial sense for them, according to this logic.It’s similar to what has happened with extracting oil. As the supply of oil gets reduced and as the fossil fuel gets harder to extract, smaller players drop out, unable to compete with the financial and technological resources of a Big Oil company.
Source: A big thing has just happened to Bitcoin. It’s called the halving : NPR
fta:
Some believe halvings can even lead to less energy being consumed as some of the miners that can’t compete any longer will just give up. Paying a lot for energy to obtain just over 3 bitcoin tokens will no longer make financial sense for them, according to this logic.
It’s similar to what has happened with extracting oil. As the supply of oil gets reduced and as the fossil fuel gets harder to extract, smaller players drop out, unable to compete with the financial and technological resources of a Big Oil company.
