Bitcoin

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Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation, corrupt bankers and politicians. With Bitcoin, you can be your own bank.

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The African village mining Bitcoin (unherd.com)

submitted 2 years ago by SwingingKoala@discuss.tchncs.de to c/bitcoin@discuss.tchncs.de

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The computers used to create valuable new Bitcoin tokens and validate transactions consume around the same amount of energy as a medium-sized country such as Sweden would generate. Hence the stinging critique of how this cryptocurrency wastes the planet’s precious resources. This initiative flips that narrative by using Bitcoin mining to fund energy in parts of Africa that are too poor or remote to merit connection to grids, but which do have plentiful supplies of potential power sources.

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