Segregated Witness and aligning economic incentives with resource costs
Andreas M. Antonopoulos
49010

bitcoin is a waste of computing powers and electricity that is with no backing up from a commodity. Its not perfect, suppose the world accepts bitcoins then all the rich countries with good resources would only benefit since they can create large bitcoin mining farms(huge farms with power plants and computing powers) and each country would be competing with others to build larger mining farms to keep control of bitcoin circulation, situation would be that 90% or infinite amount of the worlds electricity is being used to generate bitcoins, what a waste of energy that is considering we are already in a crisis of global warming and we need to limit of energy needs. Not to mention the fact that private companies working on quantum computers could end up monopolizing the currency, plus every transaction of bitcoin is record in each file and sent to everyone which means another problem of transferring such large quantities of files to everyone and what a waste of bandwidth that is. then there is security and hacking issues to which complicates it more, its a stupid concept that works great at a micro level but once you reach a macro level it fails.

“a single Bitcoin transaction uses roughly enough electricity to power 1.57 American households for a day.” this is the current consumption, imagine that at large scale

Don’t believe in anything blindly like you have on the fiat currencies.

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