• Home
  • News
    • Politics / Govt
    • Legislature
    • Crime / Courts
    • Health / Medicine
    • Archives
  • Sports
    • Badgers
    • Packers
      • Titletown Report
    • Brewers
  • Contact Us
    • Reporters
  • Affiliates
    • Affiliate Support

Wisconsin Radio Network

Wisconsin News and Sports

You are here: Home / Business / Cryptocurrency is volatile and has environmental impacts

Cryptocurrency is volatile and has environmental impacts

May 17, 2022 By Bob Hague

The cryptocurrency market is volatile, but that may not be crypto’s biggest downside. With many large investors getting out, the crypto market has shed nearly $2 trillion in value.

“I think a lot of these really big investors are saying ‘you know what, the market is too up and down, the world is too unstable right now, we’re just going to pull out of crypto for the time being,” said Madison College Professor Steve Noll.

“A lot of big investors are putting their investments into much more traditional and conservative investments.”

Noll also noted crypto’s environmental downside – reliance on energy gobbling computer servers. “Just the sheer amount of energy it takes to maintain this, it’s staggering. And crypto is one on the most environmentally unfriendly currency ideas ever.”

Crypto relies on blockchain technology, which requires enormous amounts of energy to run computer servers.

“I think the biggest threat to crypto is not the volatility of the markets. It’s the eventual realization that it may be unsustainable to run all these servers.”

Share this:

  • Facebook
  • Twitter

Filed Under: Business, Environment / Conservation, News



Featured Stories

Evers delivers State of the State address

Abortion rights rally highlights Wisconsin Supreme Court race

Bail and benefits questions will be on Wisconsin’s April statewide ballot

Evers issues promised TikTok ban

Johnson, Baldwin both vote ‘yes’ to avert rail strike

TwitterFacebook

Sports Headlines

Giannis breaks franchise scoring record, Bucks beat Nets in OT

Wisconsin’s Davis declares for NBA Draft

Badgers to face Arizona State in Las Vegas Bowl

Williams likely out for the season with broken hand

Packers releasing TE Jace Sternberger

More Sports

Tweets by @WRN

Get our news delivered to your inbox:

Enter your email address:

Delivered by FeedBurner

Copyright © 2023 · Learfield News & Ag, LLC