Bitcoin mining is booming in Iceland. Problem is, they don’t have enough energy to go around, and not everyone in the government is on board. Black Out Mining bitcoin – the process of confirming transactions across the blockchain – is an incredibly energy-consuming process. To meet the computational demands needed to actually turn a profit from cryptocurrency payouts, miners require top-tier hardware and cheap energy. Iceland provides the latter, but there isn’t enough for everyone.
Tag Archive: Pirate Party
Bitcoin, Mining, News, News teaser Bitcoin, Legislation
Iceland’s Pirate Party, part of a worldwide movement representing hackers, anarchists and Bitcoin enthusiasts, could possibly lead the country’s next government after Saturday. Current opinion polls have it ahead of any other party. Also read: Only Permissioned Blockchains Can Transform Finance, Says Chain’s Ludwin Although eight parties appear on the polling chart, under a parliamentary system it’s usually the largest party that has the opportunity to form a government first. Unlike the U.S. and U.K., it’s
Altcoin News, Altcoins, Legislation
The financial crisis of 2008 bankrupted the tiny country of Iceland, and a few years later a digital currency called Auroracoin was released to all residents as a way to change how they approached money. Many saw it as potentially becoming the first national digital currency, but it never reached its full potential. Now, renewed interest in Auroracoin is putting it back into the minds of those in the crypto world. Also read: Bitcoin Uncensored 49: A New