All about Blockchain, Cryptocurrency, Digital Transformation

Discussion in 'Off Topic' started by AHMED KARAM, Jan 7, 2018.

  1. AHMED KARAM

    AHMED KARAM The Strategist

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  2. Nick

    Nick Mr.Mischief

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    The biggest centralized bank opposes cryptocurrencies. Who would have guessed :rolleyes:
     
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  3. AHMED KARAM

    AHMED KARAM The Strategist

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  4. AHMED KARAM

    AHMED KARAM The Strategist

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    Build trust with data security & blockchain | Global Trust Expert Rachel Botsman


    Building trust with the Blockchain Economy | Julian Zegelman | TEDxCincinnati
     
    Last edited: Jun 25, 2018
  5. hmscott

    hmscott Notebook Nobel Laureate

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    Bitcoin Power Problem - Computerphile
    Computerphile
    Published on Jun 19, 2018
    Computations involved in mining Bitcoin are astronomical. Professor Phil Moriarty explains how estimating the energy useage is a Fermi problem.


    The paper Phil refers to:

    Bitcoin's Growing Energy Problem
    Volume 2, Issue 5, p801–805, 16 May 2018
    https://www.cell.com/joule/fulltext/S2542-4351(18)30177-6

    "...
    Conclusion
    This paper has outlined various methods that are currently used in determining the current and future electricity consumption of the Bitcoin network.

    These methods tell us that the Bitcoin network consumes at least 2.55 GW of electricity currently, and that it could reach a consumption of 7.67 GW in the future, making it comparable with countries such as Ireland (3.1 GW) and Austria (8.2 GW).15

    Additionally, economic models tell us that Bitcoin's electricity consumption will gravitate toward the latter figure. A look at Bitcoin miner production estimates suggests that this figure could already be reached in 2018.

    With the Bitcoin network processing just 200,000 transactions per day, this means that the average electricity consumed per transaction equals at least 300 kWh, and could exceed 900 kWh per transaction by the end of 2018.

    The Bitcoin development community is experimenting with solutions such as the Lightning Network to improve the throughput of the network, which may alleviate the situation.

    For now, however, Bitcoin has a big problem, and it is growing fast."
     
    Last edited: Jun 26, 2018
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  6. AHMED KARAM

    AHMED KARAM The Strategist

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  7. AHMED KARAM

    AHMED KARAM The Strategist

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  8. AHMED KARAM

    AHMED KARAM The Strategist

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  9. AHMED KARAM

    AHMED KARAM The Strategist

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  10. AHMED KARAM

    AHMED KARAM The Strategist

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