Tag Archives: bitcoin news
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
Andreas Antonopoulos Update: Bitcoin Wealth Distribution Statistics
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
Food for thought from TomatoBubble.com…
Starting back in 2014, we began noticing more and more requests to post a “Bitcoin” button that would allow readers to donate to TomatoBubble.com with the hot new “crypto-currency” worldwide payment system. Bitcoin and other rapidly emerging cryptos are a form of “decentralized” digital currency, as the system works without a Central Bank or a single administrator.
The Bitcoin network is person-to-person, with transactions between users taking place directly through the use of cryptography only. Bitcoins can be exchanged for other currencies, products, and services. The transactions are automatically verified and recorded in a publicly distributed ledger called a “blockchain.”
At first, it seemed like a good way to work around PayPal and fly under the IRS radar, but we just never got around to getting involved because we figured the Feds would eventually catch up to such a “peoples’ currency” and shut it down anyway. But now, lo and behold, Bitcoin mania is being heavily promoted by the great and the good of the PRC (Predatory Ruling Class) — so much so that a single $1 of Bitcoin purchased a few years ago is today worth about $65!
Be sure to continue to read at the source: TomatoBubble.com
Crypto Crash or Healthy Pullback? Jeff Berwick on Rogue Money
Source: The Dollar Vigilante