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Cornell Professor Says Bitcoin Has 3 Flaws and that Could Set the Stage for Other Alternatives
Summary: Bitcoin has a few flaws and that’s triggered other digital currencies to come up with more viable options, according to professor Eswar Prasad at Cornell University. He told CNBC on Thursday, it isn’t as anonymous as people think it is, and “mining” bitcoin is bad for the environment. Prasad pointed out that these defects include: ...
Bitcoin has a few flaws and that’s triggered other digital currencies to come up with more viable options, according to professor Eswar Prasad at Cornell University. He told CNBC on Thursday, it isn’t as anonymous as people think it is, and “mining” bitcoin is bad for the environment.
Prasad pointed out that these defects include: 1. Mining harms the environment.2. Not so anonymous after all.3. It’s “slow and cumbersome” to use bitcoin to pay for goods and services, and the market is very volatile.
By Amy Liu
Tags: Bitcoin,Cornell,Eswar Prasad
Link: Cornell Professor Says Bitcoin Has 3 Flaws and that Could Set the Stage for Other Alternatives [Copy]
