Blockchain – so Madly Masculine
It’s sort of like a “Girls Keep Out” sign.
I could hear the screech of her high heels coming to a swift halt, so Madam X could read Friday’s Globe over my shoulder; really annoying! But we do want to know what this Blockchain thing is so we can toss off a few good lines at cocktail parties.
An Explanation with Apologies for Undue Technicalities
Blockchain is a swiftly growing database with large blobs of information called blocks. So now we know about the block bit.
The mind of Madam X focuses on the chain part.
Maybe the chain holds the blocks together or works like a bike chain or, likely, just sounds tough.
Blockchain mines Bitcoin. Is it a profitable business?
Bitcoin is basically valueless; its worth is decided by those trading in them.
The power currently used for Bitcoin mining compares to Ireland’s energy consumption. *
It is quite unnecessary to know how this mining thing works. Do you know how a driverless car works? No. So there.
Innovative Spawn
Bitcoin, Blockchain’s spawn, however, has gone stratospheric but having a rough patch, too bad.
Bitcoin sounded so cute, Madam X wanted some. Cryptocurrency has a shady, Goth vibe. In fact, Bitcoin has no government regulation or acceptance and is best known as the money launderer’s choice.
Possibly you were not aware that you have several other options in Cryptocurrencies. Now is a good time to check out the smaller players with excellent names such as ripple, NEM, monero and Canada’s Etherium.
Madam X knew you were yearning to have a firm understanding of cyber tech.
