Tag Archives: Currency

Bitcoin Mining Wastes Energy? What If That’s a Good Thing?

Bitcoin Mining Wastes Energy? What If That’s a Good Thing?

I am frustrated by the debate over whether or not bitcoin is an environmental disaster waiting to happen. No one seems to know what assumptions to use. Depending on what efficiency ratios we assume for currently operating ASIC mining rigs, they’re either consuming 35 terawatt-hours per year, the equivalent of Denmark, or something far less, closer perhaps to Bolivia. […]

Finance Bigwig Mohamed El-Erian Says Bitcoin Is a Commodity

Finance Bigwig Mohamed El-Erian Says Bitcoin Is a Commodity

Bitcoin cannot be considered a currency, one of the world’s most prominent financial commentators and institutional investors said. Mohamed El-Erian told CNBC that currencies normally serve as a store of value, but that they must be predictable and stable to work as a medium of exchange. El-Erian, who is currently the chief economic advisor at the […]

Philly Fed Chief: Bitcoin Has Little Chance of Thwarting Monetary Policy

Philly Fed Chief: Bitcoin Has Little Chance of Thwarting Monetary Policy

Bitcoin and other cryptocurrencies are unlikely to weaken the Fed Reserve’s influence on the U.S. economy. That’s according to the president of the Federal Reserve Bank of Philadelphia, Patrick Harker, who issued the new remarks on the second day of a fintech event hosted by his organization, one of 12 regional institutions that today comprise […]