This was just a matter of time. China has imposed a banOn (BTCYou can use it for trading, mining and other crypto-related services. To do anything with Bitcoin anywhere in the People’s Republic, one needs a special exemption. The Chinese government’s given reason for the Bitcoin crackdown is to Reduce its documented climate impacts. Regardless of the amount of truth in this explanation, one thing is clear: China’s righteous anger toward electricity-guzzling and carbon-spewing mined cryptocurrencies in the service of Earth’s climate is only the first shot in an impending global showdown over Bitcoin and other crypto projects that rely on proof-of-work (PoW), the complicated crypto security mechanism we subsume under “mining.” This does not seem like a battle crypto can or will win.

This is an important realization for many crypto enthusiasts holding Bitcoin. However, there’s a parallel that can help. It even shares the same name, coal mining. Because there are more advanced, cleaner and cheaper options, as well as more technology, coal is in its final days. Other options.