For sceptics, however, the plummet could be a lasting wound.
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What Bitcoin illustrates is that achieving successful governance without the role of an intermediary is costly � costly enough that Bitcoin may struggle to outcompete payment intermediaries. However, that people are eager to get a hold of bitcoins today shows that some firmly believe Bitcoin has the potential to become more widely demanded. This means that these energy companies can mine bitcoin during periods of excess production and oversupply. Cryptocurrency mining uses huge amounts of energy, but activists are urging for a change in its code to reduce its environmental impact. Payment networks typically have large corporate structures and expend large amounts of resources to facilitate transactions.
