Bitcoin trading activity has had a noticeable impact on the state of Montana. In mid-2017, Montana was home to approximately 1,900 active bitcoin traders. This number increased to 2,300 by the end of the year. The majority of these traders were based in Missoula and Billings. You can also use bitprime gold for proper information.
The influx of bitcoin trading activity has led to an increase in demand for electricity. In September 2017, it was reported that bitcoin trading was responsible for 0.13% of all global electricity consumption. This translated to an estimated consumption of 462MW.
The increase in electricity consumption has led to higher electric bills for Montana residents. In some cases, bills have doubled or even tripled. This has caused hardship for many families and businesses.
The state of Montana has also seen an increase in crime related to bitcoin. In September 2017, the FBI arrested two men in Missoula for running a Ponzi scheme that defrauded investors of $4.5 million worth of bitcoin.
Despite the challenges, Montana appears to be welcoming of the bitcoin trading activity taking place within its borders. In November 2017, the Montana Legislature passed a bill that recognized digital currencies as legal tender. This made Montana the first U.S. state to do so.
It is still too early to tell what long-term impact bitcoin trading will have on Montana. However, it is clear that the state is…
