dc.description.abstract | This comprehensive study provides an in-depth exploration of Bitcoin's history, its
fundamental nature, and the intricate workings that underpin its functionality. Further
analyzing Bitcoin mining and its sustainability, focusing on factors like network difficulty,
hashrate, Bitcoin price, mining technology, cost per transaction, natural gas prices and
electricity prices.
The study discusses how the Bitcoin mining sector uses energy resources, what politics
different authorities have implemented for cryptocurrency and what the future of Bitcoin
could look like. Furthermore, discussing what use there is for Bitcoin today and where
Bitcoin could be used in the future.
Moreover, the study sheds light on the challenge Bitcoin brings to the current fiat currency
system. The darker side of Bitcoin use is also discussed shedding a light on how Bitcoin is
used to fund criminal activity. There is competition within cryptocurrencies, and there are
alternatives which have tried to mitigate some of the issues with Bitcoin. | |