Bitcoins are a waste of energy – literally

Vast amounts of electricity go into feeding the Bitcoin delusion. Fortunately, it’s unlikely that the digital currency will survive long enough to generate the environmental disaster that would arise if it became a major part of the financial system, writes John Quiggin.The digital currency Bitcoin has been seen by many as a source of threats, as potentially facilitating terrorism, money laundering, and drug dealing; undermining taxation systems; and rendering monetary policy unworkable.While these threats have raised concerns, it appears that all can be managed with appropriate regulatory and law enforcement strategies.
http://www.abc.net.au/news/2015-10-06/quiggin-bitcoins-are-a-waste-of-energy/6827940

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