The Currency Analytics
By Dan Saada
Bitcoin (BTC) Last Word
Everyone who knows the amount of energy consumed by Bitcoin mining would agree that something should be done about preventing the insane amount of energy spends in the mining…
Using and transaction in Bitcoin does require energy. And, just like many people think it is not possible for it to become a world currency.
Users do agree that Bitcoin was the first digital asset to be based on blockchain tech. However, now, in 2020, more than 10 years after its inception, many feel that Proof of…
They have to state that BTC is like the first car and that it should be put on display in the crypto museum. It is time for the next generation digital assets.
Stanley Druckenmiller, legendary investor stated, “I’m a bit of a dinosaur, but I have warmed up to the fact that Bitcoin could be an asset class that has a lot of attraction as…
When talking about BTC and Proof of Work, Sydney Ifergan, the Crypto expert tweeted: “Bitcoin has one problem for sure, the energy consumption, if something gets done about…
All we need to get done is to make it possible for Bitcoin to run on much less energy. Several energy efficient models are gaining traction for BTC.
Bitcoin mining requires electricity consumption. Therefore, it is electricity consumption that has the carbon impact.
The problem is about having an energy production process without carbon production. Huge tax cuts from the government for such innovations and several companies will fall in place.
A lot of decrying has been happening about Bitcoin’s energy footprint and a guilt feeling of someone getting deprived of energy because of Bitcoin is widespread.
There was an interesting article from CoinDesk about “The Last Word on Bitcoin’s Energy Consumption.”
It just looks like Bitcoin is not the problem and that nuclear is the solution.