It takes 29.05TWh annually to operate the energy-hungry computers and networks that power bitcoin transactions. The rise in its value has given way to an increase in electrical consumption that is used to “mine” more bitcoins, according to a report Source: Bitcoin mining consumes more energy than 159 countries
Because of its disruptive nature, Bitcoin and other cryptocurrencies sit very uneasily with the traditional banking sector as there is a fear the digital currency could render them obsolete. The UK boasts about its relative dominance in the fintech sector, but its own banks are making life difficult for the country’s bitcoin businesses. Source: Bitcoin […]
Episode 6 – Why Do Central Bank Hate Bitcoin Based Remittance If you are in the business of money transfer using bitcoin, you might want to give this a listen. It very briefly explains what central banks look for in remittances and why is it that they don’t like bitcoin based remittances.
Faisal Khan’s insight: The case for sub-$100 payments and why #Bitcoin is the savior.
It is certain that Bitcoins are challenging and changing the mechanics of payments on the Internet. What started as a very elegant solution to the Byzantine Generals Problem published in a paper by someone called Sataoshi Nakamoto, and 3 months later the first Bitcoin protocol code that was released in 2008, is now an […]
Here is a blog article I wrote on my perspective on the case of Bitcoins in Pakistan and why Pakistan should adopt it.
India was promised to be the next giant in Bitcoins (after China). Sadly, that is not the case. A Christmas Eve present (read: circular) from the financial regulator (Reserve Bank of India) is creating confusion amongst the existing players and has resulted that Bitcoin buying/selling from these exchanges has been suspended. The circular in its […]
Considering the number of questions I get asked about Bitcoins, what they are, how they work, are they reliable and many more, I decided to address some of these questions as best as I could. This post is the first in a three-post series that will form a primer for anyone seeking more information about […]