Category Archives: Bitcoin
RoadtoRoota Update: Amazon – One Step closer to Accepting Cryptos! (Bix Weir)
Boxmining Update: Lightning Network Strikes Pizza! / IOTA Wallets hacked / NVIDIA GPU price gouging
WeAreChange Update: Will Governments BAN Bitcoin? – What You Need To Know!
Roger Ver Update: Why Banks Love the Lightning Network (and you should be wary)
Source: Roger Ver
Another year has passed by with the speed of light. In hindsight, it passed quite quickly; just try to remember the value of Bitcoin a year ago in January, crossing the barrier of USD 1,000. Seemed like yesterday?
In any case, before we say goodbye to 2017 for one last time, let’s have a quick review and remind ourselves what we have achieved together! Starting with…
Be sure to continue to read at the source: Trezor Blog
Andreas Antonopoulos Update: Bitcoin Wealth Distribution Statistics
Boxmining Daily: MAJOR Electrum Wallet Hack, Binance Reopens!
The Crypto Sniper: Bitcoin in Trouble
Source: The Crypto Sniper
It is common to see Bitcoin users praise the new currency for being better than traditional ones. Horizontal, international, paperless – Bitcoin clearly has it benefits. However, a single Bitcoin transaction currently burns through around 100 kWh, an extremely high amount of electricity for an operation that may be made several times a day.
Recently the media has been a buzz about the danger of the Bitcoin industry’s electricity consumption.
The cryptocurrency security is based on complex calculations made by supercomputers, an operation called mining. According to the latest research, Bitcoin uses as much electricity as Ireland, that is about 30 TWh per year. Selectra recalculates an estimate of the bitcoin industry’s consumption based on conservative assumptions.
We found out that with an average consumption sitting between 12 and 30 TWh per year, Bitcoin’s energy consumption makes the large-scale development of the cryptocurrency a serious threat to the environment.
With this we have made our own assumptions and method to shine light on the controversial facts as to whether Bitcoin is environmentally sustainable or not.
Read the full article here