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Bitcoin Sustainability Report June 2018

Digiconomist July 6, 2018 Latest, Sustainability

Digiconomist is committed to promoting (the development of) sustainable blockchain technology.

New Academic Paper: Bitcoin’s Growing Energy Problem

Digiconomist May 16, 2018 Latest, Sustainability

It has been several months of little new content on the Digiconomist blog, but a lot has been going on in the background.

Bitcoin Mining is more Polluting than Gold Mining

Digiconomist January 16, 2018 Latest, Sustainability

Bitcoin’s usefulness as a payment system has been deteriorating fast over the past year. Bitcoin transaction fees and price volatility skyrocketed

Digiconomist

@DigiEconomist

What institutions are currently “too big to fail” in the #cryptocurrency space? We all know mt.gox was. After it’s collapse #Bitcoin ultimately shed 90% of its all-time high up until then. Bitfinex, along with its #Tether, seems to top the current list.

11:33 am · October 15, 2018

Digiconomist

@DigiEconomist

Not a coincidence Bitfinex offers the highest rate on #Bitcoin right now. Traders can buy cheap $USDT anywhere, send it to @bitfinex and sell for $1, then take out profits via #BTC. Wonder how long they will keep up that peg; this IS hurting them (losing money on every trade). pic.twitter.com/HN5zK6FKpK

6:11 am · October 15, 2018

Digiconomist

@DigiEconomist

Can someone borrow me a million $USDT? Want to buy regular $USD. Will pay back in one year. 🙃

6:04 am · October 15, 2018

Digiconomist

@DigiEconomist

Consider this if you want to buy into the current "rally". It's nothing more than a #Tether-induced pump. Those funds may either move back into $USDT once the dust settles, or worse if @bitfinex runs into big trouble. Seems about time for that long overdue audit! twitter.com/DigiEconomist/…

6:00 am · October 15, 2018

Digiconomist

@DigiEconomist

In a way, a #Tether meltdown could be a self-fulfilling prophecy in what would be the first bank run in the #cryptocurency space. So much #irony... twitter.com/digieconomist/…

5:44 am · October 15, 2018

Digiconomist

@DigiEconomist

One thing is for certain. With #Tether causing a $20 billion shockwave through #cryptocurreny markets, an actual meltdown of the popular stablecoin would be a complete crisis. Remember the “It’s not really impacting markets”? 🤣 twitter.com/digieconomist/…

5:40 am · October 15, 2018

Digiconomist

@DigiEconomist

#Tether down, other #cryptocurrencies up. People dumping $USDT for anything at this point. Question: who is ending up with those potentially worthless Tethers? What balance do exchanges hold? Will we soon learn about systemic risk in the #cryptocurreny landscape? 🙃

5:37 am · October 15, 2018

Digiconomist

@DigiEconomist

Do you mean to say that a USD backed token issued by a shady private company and zero risk premium on the market is actually, well, quite risky? 😱 #Tether twitter.com/crypto/status/…

5:32 am · October 15, 2018

Digiconomist

@DigiEconomist

@rootzoll @andrewgdotcom We can expect a closer link between transactions and energy consumption in the future though, as fees will become the main driver for miners while the block subsidy fades.

5:08 am · October 14, 2018

Digiconomist

@DigiEconomist

@rootzoll @andrewgdotcom The relationship between transactions and price is a bit unclear. We can assume that if #Bitcoin transaction volumes could increase so would price. Reality is transaction volumes have stalled (block size limit) while energy consumption kept growing. It doesn’t get worse than that

5:05 am · October 14, 2018