“To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”
Mining bitcoin requires users to solve complex mathematical equations using high-powered computer setups. The electric consumption used in the process leaves an annual carbon footprint equal to the nation of New Zealand, according to Digiconomist.“
https://www.cnbc.com/2021/02/22/yell...t-bitcoin.html
Oh noes!
“Various government agencies have contemplated the idea of making an alternate digital currency with the hopes that it would open up the global payments system to those who don’t have access.
The Federal Reserve, where Yellen once served as chair, has studied the issue and discussed the possibility of a new digital currency along with a payments system it expects to roll out over the next several years.
“
I think it could result in faster, safer and cheaper payments, which I think are important goals,” Yellen said.
https://www.cnbc.com/2021/02/22/yell...t-bitcoin.html
There ^ it is. Bitcoin’s time is limited, a beta test for the coming Fedcoin. Might be a good time to take your winnings and invest them in GameStop and Hertz.
