It is interesting.
Quote:
Officials in China’s capital of Beijing are conducting examinations of data centers involved in “cryptocurrency mining” to “better understand their impact on energy consumption,” according to a Reuters report.
Although the report refers to cryptocurrency at large, it is well known that China-based companies contribute the majority of bitcoin mining hash rate, controlling over 70% of the network’s total hash rate and consuming a significant amount of energy, according to this map from the Cambridge Bitcoin Electricity Consumption Index.
Per the report, “The Beijing Municipal Bureau of Economy and Information Technology on Tuesday sent an ‘emergency notice’ to the city’s data centre operators to report if they’re involved in bitcoin and other cryptocurrency mining businesses. If so, they need to report the amount, and share, of power consumed by cryptocurrency mining.”
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Article
HERE at Bitcoin Magazine
Mining BTC has become a resource intensive effort which moved it from a simple laptop effort to these networked pool of processing power.
Nationa state actors will also influence the viability. Much like TK's reference to Silk Road, if the national systems and markets do not allow for crypto payments then it would have to go to the gray or black market....
International government entities such as the G20 are trying to get regulations established to oversee and control the cryptos, which could potentially break the market.
Bubbles burst...and when what you have is a password to a crypto wallet and not a stack of something tangible well... Good luck
