And bitcoin mining (the process of generating a bitcoin) now consumes the same amount of electricity every year as Denmark - 33TWh, according to one recent report.
An earlier report found that Bitcoin mining uses more electricity than a country the size of Ireland, Serbia or Bahrain.
Bitcoin also uses a lot more power when compared with other transaction systems. A typical Visa card payment, for example, requires 0.01 kWh while another cryptocurrency, Ethereum, uses 37 kWh.
Tillväxt som genereras från ökade skulder och lägre ränta. Vad händer när räntorna vänder upp och skulderna inte kan växa. Bubblan spricker och FIAT valutornas tid är över
China Will Run Trade Tests for Yuan Oil Futures This Weekend, Hopes to Roll Out Contracts by Year-End
(Yicai Global) Dec. 8 -- A unit under Shanghai Futures Exchange will hold market-wide training simulations tomorrow and on Dec. 10 in preparation for the formal inauguration of the crude oil futures contract, Sina reported yesterday.
The International Energy Exchange conducted four mock trading exercises for crude futures in June and July. It will look to roll out the contracts by the end of this year, an official at INE said after the last session.
Oil consumption in the Asia Pacific region as a percentage of the global total has continued to rise in recent years, and the region has become the main growth driver for international petroleum use. Crude futures will serve as a barometer for supply, demand and price fluctuations in China and the Asia Pacific oil markets, similar to the West Texas Intermediate and Brent indicators in the US and Europe, an energy futures manager at Shanghai Futures Exchange said.
The Chinese government plans to roll out yuan-denominated oil futures that can be converted to gold on a domestic exchange by the end of the year. If this becomes a reality, the US dollar will no longer be the only common currency for settling international oil trades, Russia’s Morning News previously reported.
Gold-backed yuan-denominated oil futures will be attractive to investors and oil-producing nations, especially those in conflict with the US, the report added.
The Fed’s balance sheet for the week ending December 6, completes the second month of the QE-unwind. Total assets initially zigzagged within a tight range to end October where it started, at $4,456 billion. But in November, holdings drifted lower, and by December 6 were at $4,437 billion, the lowest since September 17, 2014:
När den nya skattereformen är på plats kan det bli jobbigt för dollarn vilket det har blivit vid tidigare tillfällen
with Danielle DiMartino Booth as they examine Janet Yellen’s last testimony as for the Federal Chairperson and Jay Powell’s confirmation.