Transcription
You think Bitcoin is going to zero?
Yeah.
Okay. This is worrying. I think I have some Bitcoin.
You're an economist. You're saying that Bitcoin is going to zero. Why?
Ultimately, because of its reliance on energy. When they told me about Bitcoin, I could have bought it for a pound of a Bitcoin, which I would have been a bloody would be wealthier than you if I'd done that. The reason I didn't was they explained that the way that the public ledger is kept safe, is that it takes too much energy to break it. So each transaction requires 10 minutes of computer processing time globally by the looks of it to actually create an extra bitcoin and that means it's too expensive for somebody to try to break the ledger. That means it's got a huge requirement for energy use and I believe knowing what I know from climate scientists that at some point we're going to realize we're using far too much energy on the planet. We've got to cut the energy consumption.