Expending over 60 TERAWATT hours of electricity per year, Bitcoin can still only average 3.3 transactions per second… DOOMED to failure
by: Vicki Batts
NaturalNews.com
Wednesday, June 20, 2018
Is Bitcoin worth the hype? According to new reports from the Bank of International Settlements (BIS), Bitcoin and other cryptocurrencies are doomed to fail. The BIS study, aptly named “Looking Beyond The Hype,” investigated whether or not cryptocurrencies can sustain their role as money.
Based on their findings, the BIS has ultimately concluded that cryptocurrencies (also called “digital currency” or “virtual currency”) are not a sustainable form of money. Scaling issues plague these virtual currencies, and the BIS posits that the larger a crypto gets, the more likely it is to fail: Trust and efficiency will falter as more people use a given currency, the organization reports.
Energy consumption is another major issue for leading currencies like Bitcoin, as you can see in the graph below:
The Rest…HERE
