Bitcoin Q&A: Why “energy consumption” math sucks

[inaudible] [AUDIENCE] Do you think it’s possible to have a blockchain that has the five pillars of a fair currency… while there’s no mining? [ANDREAS] Umm, [one that] has no mining? Possibly. [One that] has no energy consumption? No. People misunderstand the energy consumption of systems like Bitcoin. First, people say it’s a “waste” to […]

Alex Tapscott: “Blockchain Revolution” | Talks at Google

ALEX TAPSCOTT: That was really cool. I kind of want to try that out. Everybody, give me a big cheer. [CHEERING] Wow. That power is seductive. Thanks for joining me today. Great to see a standing-room-only crowd here. There must not be a lot going on this week. I’m delighted to be here. I’ve been […]

Bitcoin Q&A: Mining, energy prices, and fee market

“Is it still profitable to mine bitcoin now that the price has dropped?” This is a common question, but also a common misconception. Even supposedly serious analysts and financial organizations get this wrong all the time. Articles in the Financial Times, Wall Street Journal, and research reports published by JP Morgan Chase, say that it […]

Volatile Stock Market? How, and Why, to Get Solar Upside Exposure

Thank you for wathcing the Blockchain Report. I’m Ian McGrady [Communications Director of Sun Fund] This is sponsored by Sun Fund. I’m here with Sun Funds’s Scott Licamele [Co-Founder of Sun Fund] Scott, how are you doing? Very well. How are you? Today we’re looking at the renewable energy market and the blockchain crypto currencies. […]

Life Inside a Secret Chinese Bitcoin Mine

Le Bitcoin et les autres crypto-monnaies représentent un futur vers lequel on se dirige. Ça rendra notre vie beaucoup plus facile. [LA VIE DANS UNE MINE BITCOIN] [ISOLÉES DANS LE NORD-EST RURAL DE LA CHINE, SIX MINES DE BITCOINS SONT DIRIGÉES PAR UN MYSTÉRIEUX GROUPE DE 4 PERSONNES.] [EN OCTOBRE 2014, LES SIX MINES GÉNÉRAIENT […]

Bitcoin Q&A: Energy consumption

[AUDIENCE] I want to ask you about the energy consumption in mining. [ANDREAS] Yes? [AUDIENCE] What is the solution for it? [ANDREAS] Well, energy consumption in mining is — I think — misrepresented very often in two ways. [Cryptocurrency] mining is one of the few industries that is completely geographically independent, meaning that it doesn’t […]

How Bitcoin Works in 5 Minutes (Technical)

At a very basic level, Bitcoin is just a digital file or ledger that contains names and balances, and people exchange money by changing this file. When Bob sells Carol a lawn mower for 5.2 Bitcoins, Bob’s balance goes up by 5.2, and Carol’s down by 5.2. There’s no gold or government issued money backing […]

Bitcoin Q&A: Solar energy & mining in space

[QUESTIONER]: Suppose the solar technology advances very well… [ANDREAS]: Yes. [QUESTIONER]: It will capture a lot of [solar energy] with very high efficiency. So marginal costs will become zero. Then would proof-of-work still work, with marginal costs at zero? [ANDREAS]: That’s a good question. Suppose that solar energy advances with its efficiency and you can […]