We’ve barely had time to process the latest studies on the carbon footprint of Bitcoin mining, or Bitmain (the largest manufacturer of Bitcoin mining machines) is already giving us a reason to worry about another side effect of producing new coins.
It has been several months of little new content on the Digiconomist blog, but a lot has been going on in the background.
Bitcoin’s usefulness as a payment system has been deteriorating fast over the past year. Bitcoin transaction fees and price volatility skyrocketed
Over the past few weeks Bitcoin’s insane energy consumption took center stage in the media coverage regarding the popular cryptocurrency.
At the start of August, 2017, several media were granted access to one of the world’s largest Bitcoin mines, located in Inner Mongolia (China), operated by Bitmain Technologies. Bitcoin mines typically keep their operations private
The Bitcoin price crashed again in November, leading up to the first significant drop in Bitcoin’s energy consumpion ever recorded.
Due to the stability in revenues available to miners, Bitcoin’s energy consumption has been stable as well recently.
Digiconomist is committed to promoting (the development of) sustainable blockchain technology.