In the past, cryptocurrency mining operations, especially that of Bitcoin, have gotten a lot of flack for consuming jaw-dropping amounts of energy. Bitcoin alone consumes more energy each year than the entire country of Switzerland.
Entrepreneur and popular author Jeff Booth has predicted a grim future for fiat currencies, expecting them to fail as central banks keep printing money. Foreseeing an unavoidable, severe depression and banking failure, he believes bitcoin will become the world’s reserve currency and all national currencies will be pegged to it.
An exodus of upward of 40,000 Bitcoin from derivatives exchanges BitMEX might have pushed up Bitcoin’s transaction fees. Meanwhile, Ethereum’s have fallen.
