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Sunday, 18 March 11:26 (GMT -05:00)

Business And Politics News

Will Bitcoin Mining Leave the World without Electricity?

It seems like people have been obsessed with cryptocurrencies. While loading up on them like crazy, they seem to have forgotten that everything has a price. When it comes to mining cryptocurrencies, this is all about the growing deficit of electricity. The thing is that all those mining farms consume tons of energy. Maintaining that cryptocurrency infrastructure is rather energy-consuming as well since all of that requires really powerful and capacious hardware, which consumes big amounts of electricity.
On top of that, once every 2 weeks all of those coins need to be hashed to back the complexity of creating a block inside the blockchain. This is expressed by the number of zeros at the beginning of the hash. The more of them there are, the safer the encryption. The cryptocurrency algorithm adds those zeros each 10 minutes for the new block. The more complicated the hashing process, the bigger effort is required to create a new block.


The Bitcoin Energy Consumption Index indicates that mining currently consumes 29,05 Terawatt-hour annually. It seems like a small figure – just 0,13% of the global energy consumption. However, if we take isolated countries, the mining energy consumption is bigger than the one in 159 countries around the globe! If the Bitcoin mining community were a country, they would be number 61 out of more than 200 countries of the world.


International experts give us some other impressive figures to think about:
Today's Bitcoin mining expenses exceed 1,5 billion dollars a year. For the sake of comparison, the annual earnings form mining Bitcoin is 7,2 billion dollars. So, miningisstillaveryprofitablebusiness.


Bitcoin mining consumes more than 12 states of the United States.;

If the pace at which Bitcoin mining has been growing for years will persist, the parity between the mining electricity consumption and the consumption of electricity for industrial needs, infrastructure and households will be reached by the UK and the USA in October 2018 and July 2019 respectively. The same figure for the entire world is expected to be reached by February 2020.


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Will the USA Impose New Sanctions on Russia in Advance of the Russian Presidential Election 2018?

Not so long ago, United States Secretary of the Treasury Steven Mnuchin promised to announce a new round of the sanctions against Russia within the next 30 days. The question is whether the United States will manage to root against Putin once again before March 18th?

Publication date: 09 March 12:41 AM

Any Brexit Scenario Will Damage the British Economy

In practice, there can be multiple Brexit scenarios, i.e. the scenarios of how the United Kingdom will exit the European Union. Experts say that almost any scenario will damage the British economy to some extent. Moreover, there will be some economic damage to both the UK, the USA, and the EU.

Publication date: 25 December 02:48 AM

The Era of Cheap Money from Central Banks is Over

According to two major investment banks – Citigroup and JPMorgan, the days of cheap money and low interest rates are nearly gone after almost 10 years since the last global crisis. They warn us that major central banks around the globe (including the ECB, for example) are going to start toughening their monetary policies in 2018 at the fastest pace in 12 years.

Publication date: 25 December 02:05 AM

Brexit and Bank Capital Outflow

Since the Brexit referendum that took place in the United Kingdom last year, European banks have already withdrawn from the UK as much as 350 billion euros. That’s reported to be the official stats provided by the European Union, The Financial Times reports.

Publication date: 30 November 01:52 PM

Fed Will Raise Interest Rate 4 Times in 2018, Goldman Sachs Experts Predict

According to the experts working for Goldman Sachs, one of the largest investment banks in the world, the U.S. Federal Reserve is probably going to raise the key interest rate 4 times next year.

Publication date: 25 November 04:05 AM

Referendum In Catalonia May Hit Europe Harder Than Brexit

The possibility of Catalonia exiting from Spain is dangerous to the integrity of the European Union, even more dangerous than the Brexit. This is what The Daily Telegraph thinks on the matter.


Publication date: 01 October 04:58 AM

Trump Announced Revolutionary Tax Cuts for Americans

On Wednesday, September 27th, President Trump announced a tax reform. The thing is that Donald trump promised this tax reform when making his election pledges in 2016.

Publication date: 29 September 07:51 AM

What is so precious about Ukraine for international investors? An American businessman shares his opinion

More and more international investors have been paying attention to Ukraine as a promising area for profitable investing. Cody Shirk, an American entrepreneur, traveler and investor, is now urging international investors to look at Ukraine as a country with really great investment potential, Market Leader reports.

Publication date: 27 September 03:16 AM

China’s Debt Bubble May Trigger Another Global Financial Crisis

The Chinese economy keeps on slowing down as China’s debt bubble is growing. International experts are concerned about that. They are afraid of a new global financial crisis, Market Leader reports. The thing is, the Chinese economy is not growing fast enough anymore. Beijing has to admit the economic slowdown. The entire international expert community is now closely watching this slowdown and expressing their concerns about China’s economic prospects amid the mentioned economic slowdown and inflating debt bubble.

Publication date: 25 September 12:44 PM

Why Is German Parliamentary Election Important to Europe?

Judging by the results of several sociological surveys, the chances of electing Angela Markel for the next 4 years is fairly high at the moment. Even though there is almost no intrigue in the election, the international community has still been closely watching it, Market Leader reports

Publication date: 24 September 12:55 AM