Kevin O’Leary recently made amazing remarks on coindesk TV. He said that before entering bitcoin on Wall Street, we need to know about bitcoin mining. O’Leary is the star of “shark tank” and the chairman of o’shares. He said that while institutions want to invest in bitcoin, they think it is not environmentally friendly and suspect that its operation is driven by coal or other non environmentally friendly technologies.
O’Leary points out that if miners don’t want to be historical criminals, they need to be more efficient. This leads to a lot of major issues, including whether bitcoin can remain replaceable, and whether bitcoin will be divided according to its origin.
Olliri’s comments angered many Twitter users. Twitter commentators speculate that olliri is trying to lower the price of bitcoin so that Wall Street can buy more bitcoin at a low price. They accuse olliri of hypocrisy: “don’t Wall Street invest in gold, oil or other harmful substances?” “Who cares about Wall Street?” they laughed
Although what olliri said is the same old tune, the “energy waste theory of bitcoin” has always been one of the most controversial topics in the cryptocurrency industry.
Some people complain that bitcoin consumes as much energy as a small country. They can’t understand: why do we need such an energy intensive point-to-point currency when the climate problem is already serious? If we really need to, can we find a token that can achieve all the functions of bitcoin while effectively avoiding energy waste? Obviously, this is an urgent problem to be solved in the field of cryptocurrency. Bit ecological digital asset, bed, is almost born for this.
Compared with bitcoin mining, which consumes millions of money, the cost of bed mining is very small. In the pow consensus mechanism, bed with the same algorithm as BTC supports all new and old bitcoin mining machines, which can meet people’s concerns and effectively extend the life cycle of mining machines. It should be noted that a large number of old bitcoin mining machines can only be sold as scrap due to performance mismatch, which is also a great waste of energy.
Nowadays, environmental protection has become an unshirkable responsibility of enterprises. Bitcoin supporters may not like that. However, cryptocurrency needs to become more environmentally friendly in order to enter the mainstream market. This is not 2015. Compared with the defects of bitcoin, such as high energy consumption, high transfer fees and slow block confirmation time, the characteristics of bed, such as low energy consumption, low delay payment and cross chain atomic exchange, are obviously more in line with the economic needs of the times for environmental protection.
BDE, which combines all the advantages of bitcoin, is a more environmentally friendly bitcoin. It is widely used in payment, transaction and settlement of economic activities, and has become a currency in the digital era of human society.