RE: Listen to Andreas Tackle the Tough Issues in Bitcoin Today
Thanks a lot for sharing all of this important information! Well done.
As soon as I arrived at the elementary school where I was Teacher-On-Call today, someone shared with me the idea that Bitcoin was using a LOAD of energy... I underlined this flaw, as it is true, as well as its second main flaw, then mention how a fully decentralized platform such as Bitshares doesn't have any of such problems now and won't ever have to face this conundrum. They are simply not affected by either trading speed, as they are the fastest on the planet using the Graphene P2P decentralized network, and, thus, doesn't face any of this...
When people will wake up to such facts the wave over the Bitshares will be tremendous and astounding. I am glad to see the birth of this giant as we speak.
Namaste :)
The whole bitcoin uses too much energy myth will be debunked soon.
In fact bitcoin will help foster worldwide distributed renewable energy.
That's a great Comment I appreciate it @eric-boucher
Though a lot of the Bitcoin mining runs on coal, in China especially, it still uses way too much energy in itself as it stands.
The uprise of so-called renewable energies will greatly help the matter and, as it is not for a lack of funds right now, we should see the use of it becoming predominant very quickly. Most hopefully anyhow. :) Nevertheless, the use of the energy created by which ever means is growing exponentially in size and astronomical amounts of it is going to be needed to keep feeding the beast. I am sure you realize this, especially when you consider by comparison the slowing down of the transactions through the network, right? Fostering the rise and distribution of renewable energy doesn't in fact reduce the use of energy by the Bitcoin network. Its fostering has nothing to do with the energy used internally by the network itself. At a fraction of the same generated amount of energy, Bitshares and the likes, including Steem, EOS and so on, are being powered through the Graphene technology and able to propel the fully decentralized infinitely scalable network without slowing it down a iota.
Namaste :)