The bitcoin dilemma : weighing the economic and environmental costs and benefits
著者
書誌事項
The bitcoin dilemma : weighing the economic and environmental costs and benefits
Palgrave Macmillan, c2022
大学図書館所蔵 全2件
  青森
  岩手
  宮城
  秋田
  山形
  福島
  茨城
  栃木
  群馬
  埼玉
  千葉
  東京
  神奈川
  新潟
  富山
  石川
  福井
  山梨
  長野
  岐阜
  静岡
  愛知
  三重
  滋賀
  京都
  大阪
  兵庫
  奈良
  和歌山
  鳥取
  島根
  岡山
  広島
  山口
  徳島
  香川
  愛媛
  高知
  福岡
  佐賀
  長崎
  熊本
  大分
  宮崎
  鹿児島
  沖縄
  韓国
  中国
  タイ
  イギリス
  ドイツ
  スイス
  フランス
  ベルギー
  オランダ
  スウェーデン
  ノルウェー
  アメリカ
注記
Includes bibliographical references (p. 311-321) and index
内容説明・目次
内容説明
There are few innovations that have the potential to revolutionize commerce and have evolved so quickly that there remain significant misunderstandings about their operation, opportunity, and challenges as has Bitcoin in the dozen years since its invention. The potential for banking, transacting, and public recording of important records is profound, but can be displacing if not done with appropriate care, and is downright dangerous if certain pitfalls are not noted and avoided. Among other things, this book proves the existence of a Bitcoin dilemma that challenges the conventional wisdom which mistakenly asserts the incredibly intensive energy consumption in Proof-of-Work cryptocurrency mining will be remedied by more efficient mining machines or sustainable power sources. It shows for the first time within a well-specified economic model of Bitcoin mining that the recent runup in electricity consumption has a simple and inevitable explanation. For a coin with almost completely inelastic supply and steadily increasing demand, the conditions for accelerating electricity demand is consistent with economic theory and may well characterize the future of Bitcoin.
The book also demonstrates the counterintuitive result that improvements in mining efficiency, in terms of electricity consumption per terahash of processing power, or decreases in electricity costs as cheaper sustainable energy is diverted to this industry, merely exacerbates the acceleration of energy consumption because of a prisoner's dilemma arms-race-to-the-bottom. The book proposes policy solutions to mitigate this Bitcoin dilemma but note that the mobility of industry capacity which needs but a ready supply of electricity and an Internet connection frustrates local regulation and warrants global solutions. The incredible opportunities of this industry will only be realized if our regulators, legislators, entrepreneurs, and general public garner a more complete and objective understanding of this and other Proof-of-Work mining techniques. The book provides this broader perspective based on the author's research as an economist, his position as a director of a large regional bank, his understanding as a technologist and as an environmental and sustainability researcher, and his public policy experience as a mayor who has also written books and articles about public policy and public finance.
目次
1. Introduction.- Part I. The Cypherpunk Bible.- 2. In the Beginning.- 3. The Creator.- 4. The Disciples.- 5. he Genesis Block.- Part II. Cryptocurrency Corporatization.- 6. A New Testament.- 7. Public Ledgers, Private Wallets, and Crypto Vulnerabilities.- 8. Bitcoin Goes Corporate.- 9. The Fundamental Flaw of Bitcoin.- 10. The Bitcoin Dilemma.- Part III. Cryptocurrency Consequences.- 11. Towns and Cities Against Noise and Power Hogs.- 12. No More Duffel Bags Full of Cash.- 13. States and Bitcoin.- 14. National Policy and Bitcoin.- 15. The Rise of Ethereum and Hobby Mining.- Part IV. Born-Again Crypto Bros and the Gospel of Profits.- 16. A Hard Fork in the Bitcoin Philosophy.- 17. The First Crypto Bros Millionaires.- 18. The Coin du Jour - The Rise of Initial Coin Offerings.- 19. Decentralized Finance.- 20. The Market Prognosis for Bitcoin.- Part V. Cryptocurrency and the Environment.- 21. Carbon Footprints.- 22. Greenwashing in the Bitcoin industry.- 23. Infighting in the Crypto Bros Family.- Part VI. The Rewriting of the Cryptocurrency Bible.- 24. Central Banks Get into the Act.- 25. The Disruption of the Fractional Banking System.- 26. Shock and Awe and a Call for Regulatory Action.- 27. Bitcoin's Global Reach.- 28. Conclusion.
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