What variables affect Bitcoin energy consumption and Bitcoin mining?
Master thesis
Permanent lenke
https://hdl.handle.net/11250/3089266Utgivelsesdato
2023Metadata
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Sammendrag
This comprehensive study provides an in-depth exploration of Bitcoin's history, itsfundamental nature, and the intricate workings that underpin its functionality. Furtheranalyzing Bitcoin mining and its sustainability, focusing on factors like network difficulty,hashrate, Bitcoin price, mining technology, cost per transaction, natural gas prices andelectricity prices.
The study discusses how the Bitcoin mining sector uses energy resources, what politicsdifferent authorities have implemented for cryptocurrency and what the future of Bitcoincould look like. Furthermore, discussing what use there is for Bitcoin today and whereBitcoin could be used in the future.
Moreover, the study sheds light on the challenge Bitcoin brings to the current fiat currencysystem. The darker side of Bitcoin use is also discussed shedding a light on how Bitcoin isused to fund criminal activity. There is competition within cryptocurrencies, and there arealternatives which have tried to mitigate some of the issues with Bitcoin.