The environmental impact of such technological advances can be huge

There is, alas, no such thing as a free lunch. This simple and obvious truth is invariably forgotten whenever irrational exuberance teams up with digital technology in the latest quest to “change the world”. A case in point was the bitcoin frenzy, where one could apparently become insanely rich by “mining” for the elusive coins. All you needed was to get a computer to solve a complicated mathematical puzzle and – lo! – you could earn one bitcoin, which at the height of the frenzy was worth $19,783.06. All you had to do was buy a mining kit (or three) from Amazon, plug it in and become part of the crypto future.

The only problem was that mining became progressively more difficult the closer we got to the maximum number of bitcoins set by the scheme and so more and more computing…

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