Category

Economy

Fraud Risk Assessment: Bitfinex

Bitfinex (kraken.com), owned by iFinex Inc. which is registered on the British Virgin Islands (BVI), was launched in 2012 as a provider of cryptocurrency exchange services. The company’s legitimacy has been evaluated based on the items listed below. Every individual… Continue Reading →

Bitcoin Sustainability Report June 2018

Digiconomist is committed to promoting (the development of) sustainable blockchain technology. Blockchain protocols such as Bitcoin currently run on the energy-slurping proof-of-work algorithm (creating these proofs of work is better known as “mining”). The Bitcoin Energy Consumption index is a… Continue Reading →

New Academic Paper: Bitcoin’s Growing Energy Problem

It has been several months of little new content on the Digiconomist blog, but a lot has been going on in the background.Significant effort has been directed towards getting the methodology underlying the Bitcoin Energy Consumption Index anchored in peer-reviewed… Continue Reading →

Bitcoin Sustainability Report April 2018

Digiconomist is committed to promoting (the development of) sustainable blockchain technology. Blockchain protocols such as Bitcoin currently run on the energy-slurping proof-of-work algorithm (creating these proofs of work is better known as “mining”). The Bitcoin Energy Consumption index is a… Continue Reading →

Bitcoin Sustainability Report March 2018

Digiconomist is committed to promoting (the development of) sustainable blockchain technology. Blockchain protocols such as Bitcoin currently run on the energy-slurping proof-of-work algorithm (creating these proofs of work is better known as “mining”). The Bitcoin Energy Consumption index is a… Continue Reading →

Ask me Anything this Weekend

On Saturday March 3, 2018, Digiconomist will be hosting an Ask my Anything on AMAfeed.com. The AMA will be live as of 15:00 EST, but questions can be posted any time before the AMA goes live. If there’s anything you’re… Continue Reading →

Bitcoin Sustainability Report February 2018

Digiconomist is committed to promoting (the development of) sustainable blockchain technology. Blockchain protocols such as Bitcoin currently run on the energy-slurping proof-of-work algorithm (creating these proofs of work is better known as “mining”). The Bitcoin Energy Consumption index is a… Continue Reading →

Bitcoin’s electricity consumption surpasses Singapore and Portugal

According the Bitcoin Energy Consumption Index the whole Bitcoin network now consumes more than 50 terawatt-hours (TWh) of electricity per year. This marks a new major milestone for the increasing energy-hungry network, which has now surpassed countries like Singapore (49.5 TWh… Continue Reading →

Bitcoin Sustainability Report January 2018

Digiconomist is committed to promoting (the development of) sustainable blockchain technology. Blockchain protocols such as Bitcoin currently run on the energy-slurping proof-of-work algorithm (creating these proofs of work is better known as “mining”). The Bitcoin Energy Consumption index is a… Continue Reading →

Bitcoin Mining is more Polluting than Gold Mining

Bitcoin’s usefulness as a payment system has been deteriorating fast over the past year. Bitcoin transaction fees and price volatility skyrocketed, prompting big companies such as Steam and Microsoft to stop accepting Bitcoin payments. This development has resulted in the… Continue Reading →

Bitcoin raises inequality

We’ve barely made it past the controversy surrounding Bitcoin’s insane energy consumption, but egregious transaction fees, that have to be paid for actually using the popular digital currency, may soon spark a whole new storm of critique – as it… Continue Reading →

Bitcoin Sustainability Report December 2017

Digiconomist is committed to promoting (the development of) sustainable blockchain technology. Blockchain protocols such as Bitcoin currently run on the energy-slurping proof-of-work algorithm (creating these proofs of work is better known as “mining”). The Bitcoin Energy Consumption index is a… Continue Reading →

Renewable energy will not save Bitcoin

Over the past few weeks Bitcoin’s insane energy consumption took center stage in the media coverage regarding the popular cryptocurrency. This led to a lively debate, with some frequently returning claims being made. Let’s examine some of the most common… Continue Reading →

Bitcoin’s Carbon Footprint

As of today, an estimate of Bitcoin’s carbon footprint has been added to the Bitcoin Energy Consumption Index. Many readers requested for the addition of this number, as it gives a more detailed understanding of Bitcoin’s environmental impact. This impact… Continue Reading →

Bitcoin Sustainability Report November 2017

Digiconomist is committed to promoting (the development of) sustainable blockchain technology. Blockchain protocols such as Bitcoin currently run on the energy-slurping proof-of-work algorithm (creating these proofs of work is better known as “mining”). The Bitcoin Energy Consumption index is a… Continue Reading →

Bitcoin’s Energy Consumption Surpasses Ireland

One of the earliest investigations into the energy consumption of the Bitcoin network was conducted by Karl J. O’Dwyer and David Malone, from the Hamilton Institute and Maynooth University in Ireland. In their research titled “Bitcoin Mining and its Energy Footprint”… Continue Reading →

Bitcoin Sustainability Report October 2017

Digiconomist is committed to promoting (the development of) sustainable blockchain technology. Blockchain protocols such as Bitcoin currently run on the energy-slurping proof-of-work algorithm (creating these proofs of work is better known as “mining”). The Bitcoin Energy Consumption index is a… Continue Reading →

A Deep Dive in a Real-World Bitcoin Mine

At the start of August, 2017, several media were granted access to one of the world’s largest Bitcoin mines, located in Inner Mongolia (China), operated by Bitmain Technologies. Bitcoin mines typically keep their operations private, hence visits like these offer… Continue Reading →

Fraud Risk Assessment: Kraken

Kraken (kraken.com), owned by Payward, Inc., was launched in California in 2011 as a provider of cryptocurrency exchange services. The company’s legitimacy has been evaluated based on the items listed below. Every individual item has been checked for the presence… Continue Reading →

Bitcoin Sustainability Report September 2017

Digiconomist is committed to promoting (the development of) sustainable blockchain technology. Blockchain protocols such as Bitcoin currently run on the energy-slurping proof-of-work algorithm (creating these proofs of work is better known as “mining”). The Bitcoin Energy Consumption index is a… Continue Reading →

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