Reasons Why The Crypto Dream Is Turning Into A Nightmare

Mining Challenges

Crypto mining is crucial because it runs software to solve algorithms. However, it takes up intense amounts of energy and this is a problem for some jurisdictions. Kazakhstan was one of the biggest mining nations but it withdrew power during electricity shortages. Many miners left the country because of the inconsistencies.

But this had a big impact on Kazakhstan’s economy because they contributed billions of dollars. China also banned mining completely and this had a staggering impact on the crypto world. Most of the world’s mining took place in the Middle Kingdom so it was a massive blow (via The Conversation).