11-Year Cryptocurrency Prediction Turning into Reality

11-Year-Cryptocurrency-Prediction-Turning-into-Reality
  • 11 years have surpassed since the prediction was done.
  • Bitcoin mining is dominated by a handful of large companies.
  • We’ve seen a dramatic shift in the bitcoin mining landscape.

In 2011, a Reddit user made a post on the bitcoin subreddit that accurately predicted the future of bitcoin mining and renewable energy. In his post, the user argued that as bitcoin mining difficulty increased, miners would eventually turn to alternative energy sources such as solar and wind power. 

Read CRYPTONEWSLAND on Google News google news

He also predicted that the mining industry would consolidate into a few large players who could afford to invest in renewable energy. As it turns out, the prediction was spot on.

Today, bitcoin mining is dominated by a handful of large companies that have invested heavily in renewable energy. In fact, some estimates suggest that 75% of all bitcoin mining is powered by renewable energy. This is a remarkable achievement given that just a few years ago, bitcoin mining was largely powered by coal-fired power plants.

In the past few years, we’ve seen a dramatic shift in the bitcoin mining landscape. A growing number of miners are now using renewable energy to power their operations. Additionally, as the prediction stated, the industry has consolidated into a handful of large players.

This is good news for the industry as more and more miners switch to renewable energy, we’ll see a reduction in bitcoin’s carbon footprint. This is a critical step in making bitcoin more sustainable in the long term. There’s however still work to be done, but the progress made so far is very encouraging. With continued investment in renewable energy, we can ensure that bitcoin mining is increasingly powered by clean energy sources.

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

retik-new-banner-hor

related posts