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      "permlink": "steemitboard-notify-beka-boy-20191110t112009000z",
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      "body": "Congratulations @beka-boy! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@beka-boy/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@beka-boy) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=beka-boy)_</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n<table><tr><td><a href=\"https://steemit.com/steemfest/@steemitboard/steemfest-meet-the-stemians-contest-the-mysterious-rule-revealed\"><img src=\"https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmasWw4jQHwxng82DKxY6Q6tVg9mWcto4xcDURs8knFgCa/image.png\"></a></td><td><a href=\"https://steemit.com/steemfest/@steemitboard/steemfest-meet-the-stemians-contest-the-mysterious-rule-revealed\">SteemFest Meet The Stemians Contest - The mysterious rule revealed</a></td></tr></table>\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "body": "Congratulations @beka-boy! You have received a personal award!\n\n[![](https://steemitimages.com/70x70/http://steemitboard.com/@beka-boy/birthday1.png)](http://steemitboard.com/@beka-boy)  1 Year on Steemit\n<sub>_Click on the badge to view your Board of Honor._</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n<table><tr><td><a href=\"https://steemit.com/steemfest/@steemitboard/steemfest3-and-steemitboard-meet-the-steemians-contest\"><img src=\"https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmeLukvNFRsa7RURqsFpiLGEZZD49MiU52JtWmjS5S2wtW/image.png\"></a></td><td><a href=\"https://steemit.com/steemfest/@steemitboard/steemfest3-and-steemitboard-meet-the-steemians-contest\">SteemFest3 and SteemitBoard - Meet the Steemians Contest</a></td></tr></table>\n\n> Support [SteemitBoard's project](https://steemit.com/@steemitboard)! **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
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      "body": "Something big is gonna happen in XRP market soon. If you study the xrp chart it's forming a pattern called CUP WITH HANDLE. It's a rare pattern and generally indicates bullish zone. \n\nAnd as per the official confirmation received from DAVID SCHWARTZ two big investors are gonna step into xrp market soon. \n\nIf you don't wanna miss the flight invest in XRP before its too late. \n\nHappy trading ![IMG_20171211_214435.jpg](https://steemitimages.com/DQmZrCrgYwDeQHsPR7Wjz3bTNUssF6ZBbjAA6u52s3n8KFy/IMG_20171211_214435.jpg)!!!! \n\n\n ![Screenshot_2017-12-11-19-52-23-797_com.fusionmedia.investing.png](https://steemitimages.com/DQmXncVW5adGCnywqDJqk6XBYd2WD3pvhsTSgY9z7T7f9sq/Screenshot_2017-12-11-19-52-23-797_com.fusionmedia.investing.png)",
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      "body": "https://dqbasmyouzti2.cloudfront.net/assets/content/cache/made/content/images/articles/Bitcoin_Mining_XL_721_420_80_s_c1.jpg\n\n\nIt's been a big week for Bitcoin. The price of one bitcoin hit $17,000 on Friday, marking a 1,300 percent increase in value this year.\n\nThe price of Bitcoin isn't the only thing rising. The energy used to \"mine\" the cryptocurrency is also skyrocketing -- and people are getting worried.\n\nThe Bitcoin Energy Consumption Index tracker puts Bitcoin’s current estimated annual energy use at almost 32 terawatt-hours, roughly equivalent to Serbia’s yearly electricity consumption and ahead of at least 159 other countries, including Ireland and most nations in Africa.\n\nEach Bitcoin transaction is estimated to require the same energy as 4,000 Visa card transactions, said Francois Sonnet, co-founder of the energy generation data project ElectriCChain.\n\nAnd Power Compare, a U.K. utility pricing comparison site, noted that Bitcoin energy consumption had risen by almost 30 percent in the last month. Based on that rate of growth, Bitcoin electricity consumption will overtake the U.S. by July 2019 and the world by 2020.   \n\nThe cryptocurrency industry is considering moves to adopt more energy-efficient business models amid concerns that the current method of mining coins could endanger the planet. \n\n “More energy efficient algorithms, like proof-of-stake, have been in development over recent years,” said Chris Conway, managing director of accountancy firm Accounts & Legal Consultants and author of a recent report on Bitcoin energy use.\n\nThe energy consumption of proof-of-stake algorithms is “negligible” compared to the proof-of-work methodology employed today by Bitcoin and most other cryptocurrencies, Conway said.\n\n“Bitcoin could potentially switch to such a consensus algorithm, which would significantly improve sustainability,” he claimed. “The only downside is that there are many different versions of proof-of-stake, and none of these have fully proven themselves yet.”\n\nThe critical factor in blockchain energy use is how the blocks in each distributed ledger are independently verified without the need for a central authority. \n\nFor Bitcoin and most other cryptocurrencies launched so far, authentication is through a proof-of-work protocol which requires a substantial amount of computational power.\n\nAs described by environmental researcher Sebastiaan Deetman in Motherboard, “Bitcoin transactions are validated and processed by a decentralized network of volunteers, usually hosting dedicated hardware to perform calculations, called ‘hashes.’”\n\nThese calculations are intended to find solutions to a complex mathematical algorithm. The volunteer that solves the problem gets new bitcoins and transaction fees as a reward.\n\n“This network of so-called bitcoin ‘miners’ ensures the security of the system, but unfortunately also consumes a lot of electricity,” said Deetman.\n\nBitcoin’s algorithm requires that it get more and more difficult over time, as long as mining itself becomes increasingly popular. \n\n“With an approximately 132-year discovery cycle to mine all 21 million bitcoins, mining power demand will go up exponentially,” wrote Tam Hunt in an analysis for GTM on solar-powered mining.\n\nTo make matters worse, Bitcoin is just one of a growing number of cryptocurrencies. \n\nEthereum, the world’s second-largest blockchain network after Bitcoin, today uses one-third the energy of Bitcoin. At around 11 terawatt-hours a year, Ethereum is similar to the electricity consumption in Zambia.\n\n“It's impossible to accurately say what the total consumption of the cryptocurrency mining trend is, but if Bitcoin and Ethereum combined were a country, it'd be the 55th biggest consumer of energy in the world,” said Conway.\n\n“Put over 1,300 more cryptocurrencies on top of that and you can imagine the figures. Adopting Bitcoin as a major currency anytime in the next few decades could have a serious impact on climate change,” he said.\n\nAware of this impact, Bitcoin, as an organization, advises miners to optimize energy use, said Conway. Bitcoin mining concerns, meanwhile, are increasingly looking for locations with plentiful, cheap energy.\n\nGenesis Mining, for example, has sited the world’s biggest Bitcoin mining facility in Iceland, where it can run off geothermal energy. Bitcoin mining could also run off solar energy, although it is unclear whether any computing firms have explored this avenue. \n\nSonnet said a new version of Bitcoin Core, the software that runs on Bitcoin’s nodes, could require less computing power to function.\n\nIn the long run, though, it seems the only way to overcome mushrooming energy use will be for cryptocurrencies to tweak some of the fundamental features of today’s blockchain networks, particularly as a growing stable of startups seeks to apply blockchains to the energy sector.\n\nOrganizations such as SolarCoin, which aims to use the blockchain to help with the transition to carbon-free energy systems, might find it hard to reconcile their missions with the fact that their underlying technology is burning through so much energy.\n\nThus, for example, “SolarCoin could run through data loggers, daily, on less than 0.07 kilowatt-hours a day,” said Sonnet, making it “thousands of times more efficient than Bitcoin. There are indeed more efficient solutions.”",
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      "title": "Bitcoin Is Not a Bubble; It's in an S-Curve and It's Just Getting Started",
      "body": "https://fs.bitcoinmagazine.com/img/images/SCurve-Bitcoin.width-800.jpg\n\n\nOne of the most intriguing stories underpinning the recent rise of bitcoin prices is how financial institutions will interact with the currency.\n\nThe upcoming CBOE futures market is going to open the door for Wall Street giants to participate in the market. That could spell moon or doom for bitcoin, and everyone is speculating on what may happen next.\n\nIt is this Wall Street/BTC interaction (phenomenon) that may be driving the unbelievable price spike of the past few days — at least partially.\n\nOn the macro scale, however, we may be witnessing a more grand pattern forming; a price-correlated S-curve.\n\nThe S-curve is the classic adoption curve applied to the advent of new technologies. As a percentage of the population, adoption looks like a lag phase where the technology is utilized by the innovators of said technology, followed by an early adoption phase led by people who often take risks in order to be the first movers in a space. After the early adopter phase (~16% of the population is now participating), there comes a great “tipping point” where the wide use of the technology seems inevitable. The tipping point gives rise to the “Early Majority” joining in on the fun, followed by the late majority and, finally, the holdouts who allow the top of the S to asymptotically approach total adoption. The curve, as a factor of time and adoption, looks sort of like the following:\n\nhttps://fs.bitcoinmagazine.com/img/images/Screen_Shot_2017-12-08_at_9.56.44_AM.original.png\n\nThis curve correlates nicely with adoption of some of the greatest technological innovations in our recent history:\n\nhttps://fs.bitcoinmagazine.com/img/images/Screen_Shot_2017-12-08_at_9.57.15_AM.original.png\n\nSome important things to note is that this is just U.S. adoption. Much of the world lagged behind the U.S. in the consumer appliance boom of the 1900s. All of these curves, however steep, do follow the same S-curve trend fairly nicely.\n\nSo what could that mean for bitcoin? It’s difficult to choose a metric to define bitcoin adoption, and, in fact, there are disputes about if one metric accurately captures it. However, for simplicity I’ll highlight Google searches for bitcoin and Coinbase user count as microcosms of the global adoption trend.\n\nhttps://fs.bitcoinmagazine.com/img/images/Screen_Shot_2017-12-08_at_10.21.17_AM.original.png\n\nhttps://fs.bitcoinmagazine.com/img/images/Screen_Shot_2017-12-08_at_9.58.02_AM.original.png\n\nThis seems to show a very similar pattern to what could be the transitional phase between “innovators” and “Early Adopters.” Just to harken back to the earlier statement though — it’s very difficult to put a number on bitcoin adoption.\n\nSo why is this remarkable? Bitcoin may be the first “buyable” S-curve. Because this is a capped-supply currency, more users adopting and using it necessitates an increase in price. Whether that correlation is even reflective of the current price action is a practically unanswerable question, and the obvious leaning would be towards there being a speculative additional value. However, with an increase in adoption, there seems to be a floor rising up to catch whatever “bubble burst” might occur, if and when it happens.\n\nTo compare bitcoin’s adoption to its complement — the internet — this may very well be the “Eternal September” episode for bitcoin.\n\nIf the S-curve adoption theory applies to bitcoin, then buckle up. I won’t pretend to be able to predict a spot price, but I will say I think we may be sitting close to another order of magnitude this time next year.\n\nSee y’all on the moon.\n\nCorollary: Bulls sound smart in bull markets. We may look back and laugh at this thought, or it may hold true for years to come. Time will tell. ‘Til then, buy bitcoin.",
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