This is episode 199 of You, Me, and BTC – your liberty and Bitcoin podcast.
The Bitcoin price is filthy high these days. And sure, we want to celebrate that. But some people recently pointed out another record Bitcoin high that's way less exciting. According to some, this stat indicates that crypto is in deep doo-doo.
The number is related to Bitcoin transaction fees, but it's a little different. (Although transaction fees are also rising and worth talking about tonight.) Rather, this stat is the actual energy cost to mine Bitcoin transactions. According to Motherboard, "[B]itcoin miners worldwide could be using enough electricity to at any given time to power about 2.26 million American homes."
In other words, it costs a buttload of dough to mine Bitcoin transactions. What does that mean for Bitcoin and crypto in general? Will we all come to our senses one day and realize that mining isn't really good for the universe? Tune in tonight for our thoughts.
Also in this week's show, we'll share even more Amazon news. The web giant recently bought some crypto domain names and of course, the internet has theories about why.
Catch our livestream tonight at 9PM Eastern and check the list below for some of the specific stories we'll cover!
- One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week
- Cost per Transaction
- Amazon just bought three domain names related to cryptocurrency
This is one hell of a transaction cost. https://t.co/FG99WIxZ3K
— Noah Smith (@Noahpinion) November 2, 2017
Your hosts this week are Daniel Brown, Tim Baker, and Zack Voell. Don't forget to scroll down so you can keep up with our open tweet lines, vote in this week's Bitcoin poll, and share your thoughts in the comments!
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The #YMBLive Open Tweet Lines
If you have a comment, a question, or a Bitcoin headline that you'd like us to cover on the air, use the button below to send us a tweet! The tweet lines are open all week long, so you can send a shoutout even when we're not live and we'll still get to it during the show. We'll do our best to read all #YMBLive tweets on the air and respond to any questions.
Thoughts? https://t.co/vF6VbQ8s5Q Amazon will...
— You, Me, and BTC (@YouMeAndBTC) November 2, 2017