100X Bitcoin energy use would mean 'absurd' $20M BTC price — developer
For Bitcoin energy usage to increase to absorb more of the world's waste energy, its market cap would end up being $420 trillion, calculates Sjors Provoost. A new contributor to the Bitcoin (BTC) energy debate says that 1 BTC would have to cost $20 million to use 100 times its current energy demands.In a Twitter debate on July 18, Sjors Provoost, a Bitcoin developer and author of “Bitcoin: A Work in Progress,” cast doubt on the largest cryptocurrency’s future energy use.Bitcoin could survive on "waste energy breadcrumbs"How much energy Bitcoin uses to survive has become a topic of friction....
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A philosophical dive into how truly absurd the slow but sure monetary takeover bitcoin has been experiencing is.
This week a great number of bitcoin supporters and skeptics have been arguing over whether or not bitcoin mining is harmful to the global environment. However, crypto supporters have been saying that concerns over the Bitcoin network’s energy supply are absurd, in contrast to the carbon used and the military violence that backs a number of fiat currencies including the U.S. dollar. One could even go as far as to say that the American dollar alone has left boot prints on large groups of humans over the years and desecrated entire countries. Musk and Dorsey Still Use US Dollars When....
An experimental energy microgrid in Brooklyn, New York, shows how energy-generating homes can become part of a peer-to-peer electricity system, Fast Coexist reports. The project, part of the Brooklyn Microgrid ‒ a distributed energy development group in the Park Slope and Gowanus communities of Brooklyn, creating a connected network for local energy ‒ also shows how distributed ledger technology could enable the emerging "energy Internet." The project starts small: “On one side of President Street, five homes with solar panels generate electricity. On the other side, five homes....
Why isn’t Coinbase talking about this? In the Caucasus country of Georgia, an error led to some users exchanging their cryptocurrencies at a 100X profit. Is the cryptocurrency exchange entitled to that money? Or is this a simple case of users taking advantage of an arbitrage opportunity? In crypto, transactions are supposed to be final. […]
Amid ongoing legal action from U.S. authorities, the company behind Bitmex — 100x — has announced a new CEO. 100x — the holding group for Bitmex’s parent company — has announced the appointment of a permanent new CEO in the wake of charges filed in Octob against the exchange’s co-founders, including former CEO of both 100x and Bitmex, Arthur Hayes.On Dec. 1, 100x announced that the former chief executive officer of German stock exchange Borse Stuttgart GmbH, Alexander Hoptner, will take over as CEO during January 2021. Hoptner will also join 100x’s board of directors, and will report....