Bitcoin’s advocates claim that it is immune from government control. ”It can’t be shut down,” they say. This might have been true in the early days, when Bitcoin could be mined on an ordinary laptop. But in these days of giant mining farms, Bitcoin desperately needs abundant cheap electricity supplies. Without access to abundant electricity, Bitcoin mining can’t continue, and without mining, Bitcoin is dead. And ultimately, electricity supply is controlled by governments.
Eulogy made by Frances Coppola