As reported in the Evening Standard, the Bank of International Settlements published an annual report with four criteria to continue economic growth. However, it was rather overshadowed by a statement in the appendix (reported here, here, here, here, here and elsewhere) where cryptographic currency was described as a "combination of a bubble, a Ponzi scheme and an environmental disaster".
I agree and so does a Canadian electricity company.
(Score: 0) by Anonymous Coward on Wednesday June 27 2018, @01:24PM
That 6 times thing is funny since the number of transactions per block is just a choice. JUst change the blocksize from 1 mb to 1 gb, problem solved: https://news.bitcoin.com/gigablock-testnet-researchers-mine-the-worlds-first-1gb-block/ [bitcoin.com]
The only problem is the price of memory limits who can then run the software. If memory became 1000x cheaper tomorrow this would be done immediately. In reality memory seems to get about 100x cheaper per decade: https://jcmit.net/mem2015.htm [jcmit.net]
The total ignorance about the topic of the people who are making these arguments is ridiculous.