The “ridiculously wasteful, malignant, guzzling” of electricity by Bitcoin miners is “illegally siphoning power, causing country–wide blackouts, not remotely sustainable, and is ruining the planet.”
What most of the Bitcoin community should have learned in 2017, it it weren’t obvious before, is that miners do not control the Bitcoin network. So who is in control? Everybody, and nobody.
“If I have seen further it is by standing on ye shoulders of Giants.”— Isaac Newton, 1675 On December 6, 2017, Lightning Developers, a medium.com publisher representing the three main parties (ACINQ, Blockstream, and Lightning Labs) that together are building the Lightning Network protocol, announced that Lightning Protocol 1.0 is operational. All tests were passed, […]
On November 28, 2017, the US Senate, Committee of the Judiciary held a hearing regarding bill S.1241: Modernizing AML Laws to Combat Money Laundering and Terrorist Financing. Despite little attention being given to digital currencies during the hearing, bill S.1241 itself would amend the definition of ‘financial institution’ in the United States Code to include […]