Energy

Bitcoin is an Information Network backed by Energy Divided by Time

Bitcoin is an Information Network backed by Energy Divided by Time
Members Public

By Nanok Bie, October 12, 2015 This post was written in 2015. But, because the language is "general", it should still hold up today. You be the judge: The Bitcoin network uses energy with a 10-minute average checkpoint “measurement” to secure the blockchain, using a “guesswork” algorithm* – to make sure

Webonanza - Analysis & News You Can Use
Webonanza - Analysis & News You Can Use
Bitcoin

Is Bitcoin Mining An “Energy Waste”?
Members Public

By Nanok Bie, October 6, 2015 This post was written in 2015. Does it hold up today? The argument that mining (verifying transactions and timestamping information) in the Bitcoin network is a “waste of energy” has been repeated over and over by people looking to copy Bitcoin, by uninformed VC’

Webonanza - Analysis & News You Can Use
Webonanza - Analysis & News You Can Use
Mining