‘Blackout’: Massive blow to bitcoin

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The world’s second-largest bitcoin mining hub been shut down after massive unrest gripped the central Asian country of Kazakhstan.

Bitcoin mining is estimated to use 91 terawatt-hours of electricity per year, analysis fromThe European country ofthis week because of the large amounts of energy the process needs is crippling the electricity grid and contributing to blackouts.

Security forces had blocked off strategic areas of Almaty — the country’s largest city and epicentre of the recent violence — and were firing into the air if anyone approached, an AFP correspondent said. “Terrorists continue to damage property... and use weapons against civilians. I have given the order to law enforcement to shoot to kill without warning,” Mr Tokayev said in his third televised address this week.“We are dealing with armed and trained bandits, both local and foreign. With bandits and terrorists. So they must be destroyed. This will be done shortly.

The interior ministry said 26 “armed criminals” had been killed in the unrest. It said 18 security officers had been killed and more than 740 wounded, and more than 3,800 people detained.

 

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Less bitcoin incoming should increase the price, how is that a blow.

Bitcoin is a glorified pyramid scheme….it needs to die.

Where is Borat when you need him?

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