On January 1 of this year, the price of a single bitcoin was just below $4,000 and has exploded in price since then, going higher than $13,000, drifting back down into the $12,000 and high $11k range and is now in the mid-$10s. Since its introduction in 2009, bitcoin has fluctuated wildly in price, from […]
Bitcoin and Energy Consumption
Stunning headlines recently reported that “Bitcoin consumes more energy than Switzerland”. You may be wondering how that works and how a virtual object like a bitcoin, that you can’t see or touch, could use any energy at all. Here’s what they’re talking about. An online tool called the Cambridge Bitcoin Electricity Consumption Index, or CBECI, […]
What Are Stablecoins?
There are thousands of different types of cryptocurrencies available today making it nearly impossible for non-experts to keep up. Many have appeared on the scene only to fail and disappear before most people were even aware of their existence. Cryptocurrency is digital or virtual money that takes the form of tokens or virtual coins. The […]
What is Facebook’s Libra Cryptocurrency?
Facebook’s announcement in June that they were unveiling a brand-new cryptocurrency they’re calling Libra, got major coverage in the news for days. While most people have heard something about it, few can explain it, or understand the impact it could have. Colin Harper, who writes for Venture Beat, says that people immersed in the cryptocurrency […]