Kazakhstan in talks on $700m in cryptocurrency mining projects

[Paphos Life]

Kazakhstan is in talks to attract investments worth 300 billion tenge ($714 million) into the cryptocurrency sector, Digital Development Minister Bagdat Mussin said on Wednesday.Kazakhstan claims to account for 6 per cent of global cryptocurrency mining....

Read the article and chat about it below...

[Dominic]

I normally don't publish anything on Cryptocurrencies, because I think it is a colossal paper tiger that will eventually eat itself.

But this story sums up why I think this way.

An awful lot of natural resources are being used in the pursuit of mining bitcoins. Now, you could say that it is more ethical than mining for rare gems using slave labour, but that's not the point. The point is, sections of humanity (those involved in bitcoins) are wasting actual resources on running countless computer programs. It is madness. Greedy madness.

[Dominic]

Oh, and any new accounts promoting bitcoin sites will get instabanned.

[glang3000]

I refuse to even contemplate using crypto currencies when we know it's lining the pockets of crooks, drug dealers and governments like North Korea.