Today's Hot Topics

DPW Holdings New Hydroelectric Dam Is A Crypto Mining Revolution

Valatie Falls Hydroelectric Dam, New York, is set to see a new life within cryptocurrency mining, after firm DPW Holdings Inc made a bid to purchase the aging dam in March 2018. This will see a new cryptocurrency mining branch open up within DPW Holdings, a brave move considering the falling profitability of cryptocurrency mining as a result of depleting values from currencies such as Bitcoin and Litecoin and of course, an increase in the price of energy and mining equipment. Valatie Falls Hydroelectric Dam (better known as Valatie Falls Hydro) has the capacity to produce around 1,700 megawatt hours...

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Bitcoin Mining Is Bad For The Environment, So What? So Is FIAT

 Bitcoin mining is the process of extracting Bitcoin from the blockchain. In theory, it’s a concept that is hard to grasp, but the general outline is that Bitcoins (and other cryptocurrencies) are mined by computers making complicated calculations. The problem is, these computers and devices uses a huge amount of energy when solving the algorithms, even just to mine small fractions of Bitcoin. So, we have a problem don’t we. Expensive machines all working together, creating high energy bills, a lot of heat and a big carbon footprint, in return for a small amount of Bitcoin. What’s more, further...

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The XRP Ledger Is Now Fully Decentralised According To Ripple CTO

Honest decentralisation has always been a talking point for Ripple and XRP. The problem within Ripple has been that as a company, they own an awful lot of XRP and historically have maintained a number of control points within the XRP ledger, calling to question the legitimacy of XRP’s decentralisation. Now as we know, through the migration of nodes over the past few weeks, the XRP ledger has become more and more decentralised. This is a sentiment now confirmed by David Schwartz, Ripples Chief Technology Officer. In his latest report The Inherently Decentralised Nature of XRP Ledger Schwartz argues that...

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Nvidia Admits Defeat And Drops Out Of Cryptocurrency Mining Manufacturing

Nvidia are one of the world’s largest producers of graphics card and computer chip hardware. Initially established to build products for gaming and video, Nvidia are one of the few companies who have found a demand for their products within the cryptocurrency mining community. As a result of this, like others, Nvidia had capitalised on this, producing cryptocurrency mining products that could be purchased on a personal and an industrial scale. Now however, it seems the falling price of Bitcoin has taken its next victim. Because Bitcoin is down and because the cost of mining is up, profits are low....

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Maybe We Don’t Need To Worry About The Efficiency Of Bitcoin Mining After All

Stop worrying about how much energy mining Bitcoin uses, the title to a recent article written for The Conversation, you can find the original article for yourself, here.   Should we stop worrying? Well according to Katrina Kelly-Pitou, yes we should. Bitcoin mining is a heavily inefficient function. Mining uses up an awful lot of power and therefore costs a lot to do. Moreover, because of the high energy use, the carbon footprint of a mined Bitcoin is frankly huge. Many have said it and there's evidence to back it up, Bitcoin mining is a curse on the planet. Kelly-Pitou disagrees...

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