news

bitcoin

1 X bitcoin bitcoin =

Monday

10 May 2021

Bitcoin’s Time is Done Says Investment Chief, Citing Dated Technology

Bitcoin’s Time is Done Says Investment Chief, Citing Dated Technology


smart summary beta

With the green plan, it’s difficult to ignore Bitcoin’s massive energy consumption due to its power-hungry Proof-of-Work consensus algorithm.

Kamal sees the energy conundrum Bitcoin faces as a significant factor in its breakdown.

While this is an industry-wide problem, and one that is disputed, with data from Chainalysis estimating less than 1% of Bitcoin transactions involved in criminality, that in itself doesn’t matter.

While some expect Bitcoin to follow suit and make significant protocol changes to move with the times, the founder of Bitcoin Suisse, Niklas Nikolajsen, said that as the dominant chain carrying the most value, it’s logical that Bitcoin is the most conservative in terms of changing its formula.

Based on current market caps, if there’s one cryptocurrency to displace Bitcoin, it’s Ethereum.

Goto Full Article

bitcoin bitcoin price

$58999.00

24h

Live Average

bitcoin

News Article Sentiment

positive

Score (0)

Article Metadata

author

site

newsbtc
Market data feeds provided by cryptocompare.com
bitsmart 2021