By now most everyone has heard of the cyber currency, Bitcoin. The idea is that transactions are conducted by cutting out the middle man, specifically large banking institutions. Even if you have not traded in Bitcoin, you can imagine the cyberspace power needed to keep up with electronics of conducting business without use of paper money. The amount of energy needed to sustain Bitcoin activity has become concerning though, with claims that Bitcoin computer use may account for all of the world’s energy in just over two years’ time. It has been suggested Bitcoin activities use 1 to 4 gigawatts, which is close to 1% of U.S. energy resources. If ever there were a time to conserve, it may be now, in the world of Bitcoin.
For more information, contact us online today www.hostylaw.com or by calling the office at (405) 235-4040.