I wonder how btc holders in texas are doing... Power surges can wipe hard drives.
You know what needs no energy at all to be a commodity, physical metals.
You know what currently needs more power than small european countries just to keep the lights on? Btc.
Green energy will triple energy prices over the next decade.... Hmm.....
I'm in Texas. Btc is doing just fine. No idea why you'd think a power outage would affect a record on a global ledger. It's just retarded at this point.
They are just fine. Nobody lost their bitcoin due to a power outage.
It takes a lot more energy to sell your metal than it takes someone to send bitcoin to the other side of the world.
Most people are holding their bitcoin in exchanges. If you're holding it yourself you'd be a fool to keep it somewhere other than a hardware wallet (not plugged in), a USB stick, paper wallet, a brain wallet (memorized pass phrase decodeable to your private keys), or a combination thereof.
Also, the price of electricity doesn't effect the price of bitcoin.
How does it not? The two main inputs are hardware and power.
The algorithm self adjusts.
The speed at which the next batch (which is called the reward) of bitcoins are mined are based on the amount of computing power that is (globally) thrown at it. The difficulty rate is chosen automatically by the bitcoin algorithm adjusts based on the average of how long it took over the last 2 weeks to mine. If there was a spike in electricity costs, people would mine less and the bitcoin rewards would have come slower, so the difficulty is automatically dialed down, and vice versa.
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