If You Think It Can’t Go Higher It Probably Can
Bitcoin investors should have felt their stomachs in their throats on Dec. 17, 2017, when BTC hit a high of nearly $20,000. The 2017 crypto-coaster had finally reached its top — and bitcoin was about to drop.
During the 2018 bear market that followed, BTC fell by 84%. Meanwhile, bitcoin maximalists HODL-ed onto their bags for dear life. That’s because they knew something crypto-newbies didn’t:
It’s normal for Bitcoin to experience dramatic price increases followed by terrifying corrections. …
Maybe Not For Much Longer…
The geothermal spas of Grindavík are a great way to relax after spelunking through the Skaftafell Ice Cave, but aside from Iceland’s many tourist attractions, there’s another reason people are flocking to “The Land of Fire and Ice”: Bitcoin mining.
In fact, to the Bitcoin-mining firms that profit from Iceland’s cold temperatures and constant supply of cheap, renewable energy, Iceland is the “unicorn” of green-friendly cryptomining.
But will the perfect mining conditions last forever? …
Instead of hooks for hands and cannon balls, “biopirates” use patent lawyers in big-city office suites to pilfer biological riches while destroying the rainforests of the world.
In this article, I’ll explain how blockchain technology — the technology responsible for bitcoin — could stop biopirates in their tracks and save the world’s rainforests. But first, it’s important to understand what biopiracy is and how it’s contributing to the merciless destruction of the Earth’s most precious natural resources.
The History of “Biopirates” and Rainforest Exploitation
Biopiracy is the modern equivalent of the Dutch settlers, who acquired the rights to Manhattan Island in 1626 for $24 worth of beads and trinkets. The native Americans who made this deal believed they were giving away hunting rights and shared use of their island. …
If the market price of bitcoin doesn’t make your jaw drop, its energy expenditure will. Bitcoin consumes an astounding 1 percent of the global energy supply. But before you dim the screen on your laptop to keep the oceans from boiling away, let’s put this number into perspective.
Bitcoin’s environmental impact is dramatically less than the traditional “currency of choice” for economic liberty fans (that’s gold if you hadn’t guessed). So let’s look a little closer at why gold mining inflicts more damage to the environment than bitcoin:
(1) Gold Mining Requires More Energy Dollar-for-Dollar
Bitcoin and gold are similar because — unlike fiat currencies — no centralized government can dilute them by minting more for free. However each time a new bitcoin — or a new gold coin — enters the marketplace, extensive energy was expended to make that happen. …
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