In 2018, I did something that would make cautious investors cringe: With almost no savings to my name, I bought cryptocurrency. I don’t need to tell you that when you’re low on cash, whether you’ve got debt or are in your first job after university as I was, a get-rich-quick scheme is always more attractive… Read more »
Posts Categorized: Bitcoin
How Bitcoin’s vast energy use could burst its bubble
For Bitcoin, it isn’t just the digital asset’s price that has hit an all-time high. So has its energy footprint. And that’s caused blowback for Mr Elon Musk, who recently bought $1.5 billion of Bitcoin, as the scale of the currency’s environmental impact becomes clearer. It also helped prompt a series of high profile critics… Read more »
Cryptocurrencies: Why Nigeria is a global leader in Bitcoin trade
Tola Fadugbagbe recalls moving to Lagos from his small south-western town 10 years ago with dreams of brighter prospects. Instead, the 34-year-old ended up in a series of odd jobs earning the minimum wage to survive – a typical story for many young Nigerians who are just trying to get by. It was not until… Read more »
Bitcoin ‘halving’: What does the much-hyped event mean?
Bitcoin has just gone through a much-hyped adjustment that reduced the rate at which new coins are created. The world’s biggest cryptocurrency’s so-called “halving” happens roughly every four years. The digital currency relies on what are known as “miners”, who run software that races to solve complex maths puzzles in return for Bitcoins. Monday’s halving… Read more »
Is blockchain living up to the hype?
Is blockchain – the technology underpinning the cryptocurrency – is fulfilling its promise, or a tech still looking for a better reason to exist. There have been some very grandiose claims made about blockchain. Source: BBC Business Technology Date: January 16th, 2020 Link: https://www.bbc.com/news/business-45919700 Discussion 1) Do you understand what the difference is between Bitcoin and Blockchain? 2)… Read more »
Coca Cola Using Blockchain for $21-Billion-Per-Year Network
With blockchain, Coke One North America expects to reduce the duration of order-reconciliation from 50 days to just a few days. An inter-organizational, transparent distributed ledger will give real-time insights into the transactions made by all the different bottlers on the network, which generates over $21 billion in revenue per year. Source: CoinTelegraph Date: November… Read more »
Bitcoin Mining Now Consuming More Electricity Than 159 Countries
Bitcoin’s ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it’s a bubble waiting to burst. However, most the coverage has missed out one of the more interesting and unintended consequences of this price increase. That is the surge in global electricity… Read more »
What Do Cryptocurrencies Have to Do with Trust?
Bitcoin and other “cryptocurrencies” have been much in the news lately, in part because of their wild gyrations in value. Michael Lee and Antoine Martin, economists in the New York Fed’s Money and Payment Studies function, have been following cryptocurrencies and agreed to answer some questions about digital money. Source: Federal Reserve Bank of New York… Read more »
Bitcoin: South Korea sways cryptocurrency prices – but how?
South Korea’s government has been signalling that it plans to crack down on cryptocurrency trading. Exactly how it will do this remains vague. But just the threat of action has been enough to drive a sell-off across the market globally. Bitcoin, for example, has lost nearly a quarter of its value in the past week. And so… Read more »
China Quietly Orders Closing of Bitcoin Mining Operations
Bitcoin can’t catch a break in China. Chinese authorities ordered the closing of operations that create a large share of the world’s supply of bitcoin, tightening a clampdown that has already shuttered exchanges for the trading of cryptocurrencies in China. A multiagency government task force overseeing risks in Internet finance issued a notice last week ordering local authorities… Read more »
Recent Comments