Bitcoin is constantly the subject of controversy, highlighting experts, doubters, and critics of all kinds and of numerous domains. Financial experts call it a bubble, financiers call it rat toxin, and ecologists declare it is gradually eliminating the world.
Energy FUD is a simple target for the cryptocurrency due to the complex, proof-of-work agreement algorithm that needs power to run, however according to a reasonably brand-new figure in Bitcoin investing, the response to resolving the energy FUD depends on Elon Musk. However why?
The Bitcoin Network Energy Intake Problem
When Bitcoin was initially presented more than 10 years earlier by Satoshi Nakamoto, absolutely nothing else like it existed worldwide. Today, countless cryptocurrencies exist all based upon some kind of the initial blockchain innovation that released with the Bitcoin network.
To fix the double-spend problem afflicting previous efforts at making digital money, and to keep the network itself and its properties decentralized– implying able to work without a third-party intermediary such as a bank–