18 Dec '13, 2pm

Bitcoin

Let's try to refute your points one by one: "Mining BtC has a carbon footprint from hell (as they get more computationally expensive to generate, electricity consumption soars)" Bitcoin is not not necessarily going to be more computationally expensive to generate. The difficulty could also decrease in the future or it could remain the same as it is now. Also, the electricity is not wasted, it provides integrity and security for the entire bitcoin payment network. How much resources do you think banks spend to keep their deposits safe from hacking and physical theft? Do you also consider those resources wasted? "Bitcoin mining software is now being distributed as malware because using someone else's computer to mine BitCoins is easier than buying a farm of your own mining hardware." It's not easier (otherwise, everyone would do it). It's maybe cheaper, but it's also illegal...

Full article: http://www.antipope.org/charlie/blog-static/2013/12/why-i...

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Charlie Stross: Bitcoin should die in a fire

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Mining BtC has a carbon footprint from hell (as they get more computationally expensive to generate, electricity consumpti...

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