Jay Jorgensen is a believer in bitcoin—and, he contends, in solving the problems that give the cryptocurrency mining industry a bad climate reputation.
In 2014, he was an early investor in bitcoin, which was fluctuating from $100 to $1,000 in value. In 2017, he struck gold when that shot up to $18,000. But his faith in the currency went beyond the big returns he was seeing.
He appreciated the lack of a central bank authority, with transactions rapidly validated on the public ledger known as the blockchain that is maintained by users without fees. “I’ve always been fascinated with the technology of decentralization,” he said in an interview.
That those transactions are validated, or mined, with computers solving complex puzzles has made the industry a target for climate advocates, however. The fastest computer to solve each problem, often the one with the most data processing power and therefore the most energy consumption, is rewarded with bitcoin for its validating services. The...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...