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A comment on Bitcoin's mining difficulty has increased by 41.9% over the last 30 days. Parent comment

Re:Bitcoin's mining difficulty has increased by 41.9% over t... by BlackFly on Tuesday December 22, 2015 @05:06AM (#10776818)
Actually that 1% normally will go to paying the electricity bills for the bank back end systems and the fraud analysis algorithms. On top of that they need to pay for fraud insurance. The power spent on bitcoin is not analogous to these costs, it is equivalent. The question is, is bitcoin more cost effective at preventing specific types of fraud?
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Re:Bitcoin's mining difficulty has increased by 41.9% over t... by davidgerard on Tuesday December 22, 2015 @08:10AM (#10777517)
Evidently not the types that actually happen in the Bitcoin space, all of which have as their root cause "no chargebacks": if someone picks your pocket from the other side of the planet, you have no recourse.
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Re:Bitcoin's mining difficulty has increased by 41.9% over t... by CyberDildonics on Tuesday December 22, 2015 @11:05AM (#10778449)
Like the president of Moldova who laundered a billion dollars out of the country?
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