Tag: proof-of-work mining

Apr 23 2022

The New China: Is New York Actually Going To Ban Proof-Of-Work Mining?

The state of New York is about to shoot itself in the foot yet again. First, the infamous BitLicense drew all cryptocurrency companies away and now they’re considering banning Proof-Of-Work mining. Or at least making it very hard for mining facilities and home miners to operate from the state. The New York State Assembly will soon vote on a bill that will “create...

Mar 11 2022

Is This A Proposal To Incentivize Green Bitcoin Mining Or A Marketing Ploy?

The road to a green bitcoin continues. This time, it’s with an idea so wild that it just may work. It arrives via a whitepaper titled “Greening Bitcoin With Incentive Offsets” by Troy Cross and Andrew M. Bailey. Did they find a way to align...

Feb 09 2022

Bitcoinist Book Club: “The Bitcoin Standard” (Chapter 8, Part 2, Proof-Of-Work)

To understand Bitcoin, people need to understand Proof-Of-Work. It might be the most crucial aspect of the network. Proof-Of-Work provides security, resolves the issuance problem, and guarantees “a ledger of ownership and transactions that is beyond dispute.” And that’s just the beginning. How does Proof-Of-Work accomplish all that? That’s what this section is all about....

Feb 01 2022

A Rebuttal To Paul Krugman’s Tone-Deaf And Out-Of-The-Loop Opinion Piece

Nobel Prize winner Paul Krugman doesn’t know when to stop. After more than a decade of being wrong about Bitcoin, he keeps adding bad takes to his resume. In his latest piece, “How Crypto Became the New Subprime” he willfully shows his...

Jan 20 2022

What U.S. Lawmakers Need To Know About Proof-Of-Work Mining’s Energy Consumption

Today, Proof-Of-Work mining’s environmental impact is the topic at hand in the U.S. Congress. The House Energy and Commerce Committee is probably debating the subject right this minute. Will they use sources from both sides of the debate or will they rely on the sensationalist reports that have the world up in arms? Can we trust the U.S. lawmakers to do their due...

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