Paul Solman The bubble dynamics of bitcoin Plattsburgh, New York, doesn’t look like ground zero for a gold rush. But cryptocurrency prospectors have installed thousands of energy-gobbling mining machines while taking advantage of dirt-cheap electric rates.
And the invasion has some locals up in arms, while offering opportunity for others. Economics correspondent Paul Solman reports on the impacts of bitcoin mining.
You have probably heard about the rise and fall of Bitcoin and other cryptocurrencies. But what you may not have about is the incredible amount of energy computers need to get Bitcoin and other currencies in the first place.
That demand, in turn, is affecting the prices of electricity in some places. And that’s where our economics correspondent, Paul Solman, comes in to help explain these connections.
It’s part of our weekly series Making Sense. Bucolic Plattsburgh, New York, 20 miles from the Canadian border. Read more from pbs.org…
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