Co-Authored by Oliver Barratt & Danny Scott

The purpose of this article is to help bring real world comparisons to light to help the general public understand Bitcoin’s energy consumption while comparing it to everyday activities they never question.


Before we delve into the numbers, we should clarify a few things.

We are not here to defend Bitcoin’s energy usage, as it uses this energy to secure the network and will continue to do so as long as Bitcoin is useful.

To note, we also treat Bitcoin in this scenario as a payment only infrastructure at a detriment to Bitcoin…

As we come to the end of what has been an iconic year for Bitcoin, I can only see more positive growth in 2021 and here’s why…

Living and breathing this extremely fast-paced industry and soaking up global bullish news daily means that I’ve forgotten more good news from this week alone than Bitcoin had in years back in its early days.

Here are a few of the reasons why I’m incredibly bullish on Bitcoin for 2021.

1. Supply and demand

Starting simply, Bitcoin is finite and there will only ever be 21 million. Back in May, we celebrated Bitcoin’s third halving —an event that happens roughly every 4 years, halving the supply of Bitcoin coming into circulation —and this year saw it go from 12.5 Bitcoin to 6.25 Bitcoin per…

Comments from CoinCorner co-founder and CEO, Danny Scott.

This morning, the Bank of England sent out a letter to the banking industry asking for feedback on whether they would have any operational or technical issues with a zero or negative interest rate. Negative interest rates are generally introduced to help stimulate the economy, by encouraging banks/companies to make loans and use of the money, rather than hoarding it.

This becomes interesting for Bitcoin as it’s already been dubbed a “safe haven asset” following this year’s global financial turmoil — Bitcoin has seen an increase of 173% since the March 12th…

Last week we released our first episode of “Britcoiners”, a new Bitcoin podcast brought to you by some of the team at CoinCorner — myself, Molly and Zakk.

Its aim is to share opinions from people actually working in the Bitcoin industry (aka on the front line!), covering news from the week and general Bitcoin topics.

Who is behind Britcoiners?

As the CEO and co-founder of CoinCorner, a 6-year-old Bitcoin exchange, I’m a software developer by trade with towards a decade of experience in the Bitcoin industry, including mining, running a leading exchange, dealing with regulators, banking issues, and Bitcoin Core contributions.

Molly is…

By now, a lot of people have heard of Bitcoin. It’s been running consistently for just over 11 years and has enjoyed it’s fair share of positive and negative media attention. Many eyes have been on Bitcoin since the bull run of 2017, with people eagerly awaiting its next big moment, and we believe that this moment is coming, especially as 2020 is shaping up to become its most significant year yet. Events impacting Bitcoin this year — the halving, proving itself as a safe haven asset, quantitative easing, businesses emerging from the crisis, regulation changes and technical upgrades —…


CoinCorner is a UK Bitcoin exchange that was founded in 2014 — we’re a small, dedicated team of Bitcoin enthusiasts.

Last summer, we finally reached the position as a company (over the years we’ve chosen to stay independent and not take VC/institutional investment, but that’s a whole different story…) where we could begin to assign some of our team’s resources to giving back to the Bitcoin community/industry. …

When you work at a Bitcoin exchange, it’s common for friends, family and the media to regularly ask you what’s causing the price movements. They always want an exciting answer too.

Is more Tether being printed suspiciously? Is it down to a recent event like Facebook’s Libra news? Is China banning Bitcoin? Or the US government opening up? Donald Trump Tweeting? The UK in turmoil over Brexit? Or is it some bad players attempting market manipulation?!

Of course, there may sometimes be an obvious answer that we can associate with a recent price move, but more often than not my…

Wow! What a Q2 we’ve had — not only at CoinCorner but in the industry as a whole. We’ve seen Bitcoin’s price continue in a positive direction for 5-months running and it doesn’t look to be stopping. We’ve also had the first FAANG company attempt to introduce their own cryptocurrency - Facebook with Libra - which seems to be causing many others, including central banks, to consider bringing their own out too.

So, what’s happened at CoinCorner in Q2?

UK Banking

It’s been our first full quarter with our UK banking facility, which has proved to be extremely impactful, from both a…

“Blockchain” is a new term being thrown around by a lot of people at the moment, but not many people actually know what it is or what it means. I’m hoping to cover this topic at a very high level, in an almost explain like I’m five style, to help dispel the myths around it.

Blockchain defined

A simple (or as simple as I can make it!) definition of blockchain (Bitcoin’s version) would be something along these lines:

The blockchain is a database or ledger of all transactions that have been processed (confirmed) on the Bitcoin network by the miners. Bitcoin’s blockchain


Scroll to the bottom for a TLDR!

This week I have taken the time to read Facebook’s technical whitepaper on Libra, along with feedback from Bitcoin/Blockchain experts around the world, and tried to put my personal feedback in a nutshell below. It’s less techie (sorry techies! I’m still one of you!) and more real world.

Having a FAANG company attempt to enter the cryptocurrency space and create their own platform built on “blockchain” has been a long time coming. From within the industry, we knew this was inevitable and only a matter of time.

So, enter Facebook, quite possibly the…

Danny Scott

Co-Founder & CEO at CoinCorner

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store