For quite some time there had been a lot of hype around different decentralized currencies with crypto being the most impactful in names like Bitcoin and Ethereum, as they continued to grow in price with the former managing to hit a high price of $60,000 earlier this year, it had been looking promising – as crypto started to become available for different services particularly online with the likes of options at casinsonotongamstop.org being amongst the biggest, a shift had been seen that took a hit – and largely focussed around environmental concerns.
The first signs of trouble came from the announcement and growth of NFTs early in 2021, some huge sales of digital items brought a lot of attention to the new market and it seemed just as quickly as it established itself, it also started to fall too – much of the problem came from the rising number of posts taking a look at the potential environmental impacts of the market and how minting and NFT, or establishing it within the blockchain, used as much energy in that small process as the average person would use across a number of days – although there was no official figure to back this number up, it was a repeated claim that certainly gave pause to some.
Following that, an announcement by electric car manufacturer Tesla had initially shown support for enabling bitcoin purchases of the cars before pulling back with the reason given being rooted in environmental concerns and how change may be needed before they’d officially support the use, this had been something that led to a huge drop in the price of the coin from $60,000 to nearly $30,000 overnight and showing more volatility for which crypto has become well known for over the years.
It is certainly something that may need to be addressed in the future if mainstream use is to be found over time, concerns around the environmental impact won’t go away and as individuals as a whole become more environmentally conscious and want to know more about their own carbon footprint, it will certainly be something that continues to grow over time. For now, decentralized currencies and crypto as a whole seem to be in a small decline as a crackdown in China and these same concerns are leading many to change their position, and there will certainly be plenty of studies and research into the true environmental impact moving forward too now it is becoming such a contested topic – if you are concerned about this it would certainly be better to err on the side of caution and wait things out, as the common thought currently is that they do come with the hefty carbon tag attached to them.