Elon Musk is definitely interested in digital currency, but it seems that he doesn’t want to understand it. At least, I worry that he doesn't have a deep enough understanding of Bitcoin (BTC) and decentralized systems in general. A decentralized system has to be secure, and proof-of-work (PoW) is the solution for Bitcoin to secure its digital asset. The more successful Bitcoin is, the more energy is required for PoW to secure the network. In other words, the reason that Bitcoin uses up so much more electricity than Dogecoin (DOGE), for example, is because BTC is much more secure than …

Is it possible to mine Bitcoin (BTC) using only 100% renewable energy sources and deliver the same economic returns as those using carbon-based sources? The answer is yes, according to Square’s recent analysis on the cost of renewables and their impact on Bitcoin mining. Unfortunately for our industry, the number of headlines and headline-making tweets about Bitcoin’s energy use and potential environmental impact has followed its rise in value in recent months. The increased media scrutiny has led to increased calls for regulatory action and even a proposed bill in the New York State Senate that would place a three-year …

Automobile makers everywhere are betting big on electric vehicles as the world begins to push for environmentally friendly modes of transportation. For example, while fewer than 1% of cars on the roads in the United States today are electric, a number of automobile manufacturers are aiming to change this by stopping sales of gasoline-powered cars. At the end of January 2021, General Motors said it would stop selling gas-powered cars and trucks by 2035. In addition, automakers such as Tesla, Ford, Volkswagen and even Porsche have announced plans to introduce new electric models in the coming years. At the same …

Bitcoin arouses passion, curiosity and has received more and more media attention, especially after having climbed the ranks of the best financial asset of the decade. However, whenever its price goes up, many doubts and questions arise, mainly around its origin and the energy expenditure by miners. The Bitcoin protocol has created a unique digital asset To understand how Bitcoin (BTC) is created and what mining is, the key is the double-spending problem. Before Bitcoin, there was neither a digital value to be transferred nor a digital asset to be divided into several parts. That is, if you scanned a …