crypto currency

Bitcoin Has An Energy Problem That Solar Power Can’t Fix

  Bitcoin mining – the mechanism of creating Bitcoins and approving transactions on the blockchain – consumes prodigious amounts of electricity due to the use of a ‘Proof of Work’ cryptographic algorithm. While some Bitcoin is mined using clean energy (hydropower and geothermal energy, mainly) most Bitcoin is mined using coal, because coal power is both ubiquitous and cheap. Unfortunately,[Read More...]

Bitcoin, Blockchain, And Local Currencies

The Seven Social Sins of the World: Wealth without work Pleasure without conscience Knowledge without character Commerce without morality Science without humanity Worship without sacrifice Politics without principle — given by Mohandas Gandhi to his grandson Arun shortly before his assassination BITCOIN AND BLOCKCHAIN The world is on fire lately with the exponential growth of Bitcoin and other electronic cryptocurrencies. While[Read More...]

The English City With Its Own Cryptocurrency: Q&A With The Founders Of HullCoin

The staff at the nonprofit organization HullCoin has done something very unusual in the city of Hull in northeast United Kingdom. They’ve launched their own local cryptocurrency — programmed on top of Bitcoin to be issued by nonprofits and social institutions — as a way of combating financial exclusion and other problems that are at the root of poverty. Residents of Hull can earn[Read More...]