It requires enormous amounts of electricity, which Aasland, and Minister for Digitalisation Karianne Tung, believe should be used for other things. In 2023, data centers that mine cryptocurrency used as much electricity in Northern Norway as the whole of Lofoten, Dagsavisen revealed.
Aasland points out that, especially in northern Norway, where the electricity is the cheapest – so far, but that’s another podcast – it has been relevant for various players to create data centers to deal with cryptocurrency.
Therefore, the government will put forward a law that will regulate the data center industry for the first time, says Tung to VG.
– Good! No reasonable person can believe that Bitcoin will ever become a widespread means of payment. Thus, the utility value is zero and the electricity we use on it is completely wasted, wrote associate professor Espen Sirnes at X.
Sirnes and many other experts believe that cryptocurrency such as Bitcoin is a typical bubble. The supporters believe it will revolutionize the money market, and crush the established institutions. While the politicians stress over high energy consumption and huge CO₂ emissions in connection with crypto mining.
Maja Sojtaric and Rune Endresen have a chat with Sirnes about the crypto storm from kryptobrus on X in this episode of Snakkis.
Tags: Cryptocurrency Snakkis reasonable person Bitcoin widespread means payment
