Google recently released an ad for its new product ‘Call Screen’, where it pokes fun at crypto mining, stating that the activity costs more in energy than the profit made. The Google Call Screen ad describes cryptocurrencies as ‘money that isn’t real’, implying that mining coins to get revenue would be foolish.
A year after the big Bitcoin boom, cryptocurrency has become a more widespread concept and the crypto market more mature, with altcoins also sparking interest.
It is surprising that a company of Google’s standing would publicly express this level of scepticism towards crypto and blockchain, says Stefania Barbaglio, crypto PR expert and founder of Cassiopeia Services: ‘It demonstrates only superficial knowledge of the crypto space, showing that Google is clueless about the potential behind crypto.’
WATCH : Stefania Barbaglio’s interview on Bloxlive.tv
CLICK HERE : https://bloxlive.tv/stories/s73news/15328-12-10-2018/73528-google-pokes-fun-at-crypto
It is well known that Bitcoin mining consumes a lot of energy, so it is not a profitable activity for the average individual. However, the crypto market is filled with altcoins designed differently from Bitcoin in this respect. At this point, viewing Bitcoin as the flagship cryptocurrency shows little knowledge of, and disregard for, today’s fast-growing, diverse crypto market.
Fundamentally, Bitcoin was developed in proof-of-work (PoW), a process that requires considerable energy. However, the newer generation coins employ proof-of-stake (PoS), which is less energy consuming, increasing the advantage for individual miners. To mention only a few such altcoins: Cardano works on proof-of-stake (PoS) and now Ethereum is about to move to its Casper proof-of-stake model, which will substantially reduce mining competition and the like; NEO and Hyperledger are the next-generation coins with even lower electricity costs and related carbon footprints. Cryptocurrencies are evolving and making their system more efficient in the process.
READ FULL BLOG HERE : https://medium.com/@cassiopeiaservicesltd/crypto-is-not-real-money-google-shows-itself-to-be-clueless-about-crypto-734c8a78d2ad
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