Bitcoin is So Hot It Takes the Energy of Sri Lanka to Power It
Bitcoin’s unprecedented popularity is giving rise to unprecedented consumption of energy to power it – in fact, it’s like powering Sri Lanka. Like Powering Sri Lanka. Statistics uploaded to Bitcoin file hosting site Supload show the power needed to keep the Bitcoin ecosystem ticking over and processing transactions is similar to the energy consumption of the whole of Sri Lanka – 20.5 million people. The information was compiled by the newly-launched Digiconomist Bitcoin Energy Consumption Index, a beta tool already providing startling reading. Each transaction in Bitcoin currently uses 109....
Related News
Sri Lanka has issued a notice regarding the stance of cryptocurrency warning citizens against it. Amidst an economic turmoil and a political chaos, the Central Bank of Sri Lanka (CBSL) mentioned that crypto remains “largely unregulated”. This notice was recently issued in the wake of “recent developments in relation to virtual currency usage”. Sri Lanka’s […]
In preparation to regulate its fintech space, the government of Sri Lanka has established a special committee tasked to formulate the country’s policy on digital banking and crypto-related activities. The committee comprises professionals from the public and private sectors. New Committee to Propose Rules for Blockchain Industry in Sri Lanka Sri Lankan authorities have unveiled the composition of а newly established committee of experts gathered to formulate the nation’s policy in three key areas related to cryptocurrencies, the local Daily Mirror reported on Saturday.....
A human rights organisation that works in Sri Lanka is now accepting bitcoin donations to protect the identities of supporters. The Sri Lanka Campaign for Peace and Justice, a London-based NGO that campaigns for "justice, human rights and reconciliation" in Sri Lanka, began taking bitcoin donations this week. So far, the NGO has received just over 1 BTC in donations. "There is a very real fear within Sri Lanka of retaliation by government forces if you are seen as working closely with international human rights organisations," said Fred Carver, the organisation's campaigns director.....
The Central Bank of Sri Lanka, or CBSL, has cautioned the public against buying cryptocurrencies due to a lack of regulatory monitoring at a time of economic and political upheaval. Sri Lanka Maintain “Crypto Is Illegal” Stance A public awareness notice was released by Sri Lanka’s central bank on July 12 in response to “recent […]
The Central Bank of Sri Lanka has published a warning notice about the risks associated with cryptocurrency as interest and trading volumes of bitcoin and other cryptocurrencies surge locally and globally. Sri Lanka’s Central Bank Warns About Bitcoin The Central Bank of Sri Lanka has published a notice regarding cryptocurrency. “Considering the recent inquiries on virtual currency usage in the international and domestic markets, the Central Bank of Sri Lanka (CBSL) wishes to inform the public of the risks associated with investing in virtual currencies,” the notice....