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We were warning. Ineffective mining and electricity theft: commentary by Alexey Muratov on air of "Russia-24" TV channel

Given their role in building of a new financial and economic system and a fair world order, representatives of the International Public Movement "Change the World Together" and members of PRIZM advanced cryptocurrency team regularly monitor the news of the blockchain industry, by closely watching the developments, by expressing expert opinions, by taking an active part in all processes and by offering advanced approaches.

On air of the Rossiya-24 television channel, the chairman of the board of the international public movement Change the World Together and the founder of the crypto-currency PRIZM Mr. Alexei Muratov commented on one of the loud blockchain news reports.

"Today, mining on the equipment which was purchased even a year ago is not so beneficial. They have to constantly increase capacity, to modernize the equipment, so that it is not worse in performance than competitors do have. In order for electric power consumption to pay back this profit out of the received reward in the form of new bitcoins. When the equipment is not effective (I presume, in this case), we have to deal with the theft of electricity, "commented Alexey Muratov on a blockchain scandal on air of Russia-24. 

Alexei Muratov also said: "The race of mining capacities leads to the fact that the equipment on which they mine today will not be effective in a year. Thus, the price of spent electricity will be higher than the reward in the form of new Bitcoins (for the creation of blocks). Therefore, the owners of the mining farms which were bought a year ago, are forced to go for the theft of electricity - this is not the isolated case.

 The main problem is that mining on Proof of Work (it also includes Bitcoin) is an empty job. We are simply wasting electricity - in fact, the resources of the planet Earth. This electricity and the work done by the hardware have nothing to do with maintaining the working capacity of the blockchain. If there are 50% less miners today, Bitcoin will not work worse. It's just a race of mining capacities - the crown of this madness which is happening today.

The future is with the new generation crypto-currencies - such as PRIZM, whose blockchain does not require such power consumption, and at the same time, by its technical parameters (transaction speed, transaction cost, and throughput) it outperforms Bitcoin.

In this race of mining capacities, Russia and Russian miners will never win, because China, which is the main producer of mining equipment, is the first to exploit the most efficient hardware in production. And then, only somewhere in six months, this equipment will be sold on the territory of other countries - including Russia. Imagine the extraction of gold: you dig with your hands, and next to you, the "Chinese digger" digs with a shovel, six months later he sells or gives you a shovel and buys an excavator. In the end, you are with a shovel - and he is already on the excavator. In such a situation, Russia will always lose. "

"The way of Russia is not to run after Bitcoin, mining and try to catch up with someone. We need to create a new generation crypto-currencies - such as PRIZM. Which will technically outperform all top crypto-currencies - including Bitcoin. This is Russia's way, “concluded Mr. Alexei Muratov.

"World Summit of Blockchain and Crypto-Currencies-2018" (#WBCSUMMIT). St. Petersburg, April 23d

Together with the growing activity of blockchain community in Russia, the number of conferences devoted to the crypto-currency industry is also increasing. Today, these are not just local events, but world-class summits, forums and conferences, which confirms the status of Russian experts and developers.

One of such platforms is the World Summit of Blockchain and Crypto-Currencies (#WBCSUMMIT). The PRIZM team already took part in an event organized by this team (the conference was held in Moscow). This time the conference will be held on April 23d in St. Petersburg and crypto activists of crypto activists will visit it again, where the founder of PRIZM, Mr. Alexei Muratov, will speak on the topic "Existing problems of crypto-currencies: prospects, solutions and possible alternatives".

Одна из таких площадок — «Всемирный саммит блокчейна и криптовалют» (#WBCSUMMIT). Команда PRIZM уже принимала участие в данной площадке (конференция проходила в Москве). В этот раз конференция состоится 23 апреля в Санкт-Петербурге и активисты криптовалюты снова её посетят, а основатель PRIZM Алексей Муратов выступит на конференции с докладом на тему «Существующие проблемы криптовалют: перспективы, решения и возможные альтернативы».

Также 12 и 13 мая основатель PRIZM Алексей Муратов выступит на бизнес-тренинге Е.В.Гильбо

Also on May 12th and 13th the founder of PRIZM Mr. Alexei Muratov will speak at the business training of Mr. Gilbo

On May 12-13th, a training seminar by Mr. E.V. Gilbo on the topic "BUSINESS XXI: Crypto-currencies and non-structural management" will be held in Moscow. The team of advanced crypto currency PRIZM will also take part in it, and Mr. Aleksey Muratov will directly speak in the training, by telling about the problems of crypto-currencies and the current development / achievements of PRIZM.

* Details and program of the event: http://gilbo.ru/?page=mos12maj2018 

* * In case of payment for a seminar or a contribution to the School with PRIZM coins through the form indicated below - you receive a 5% discount https://docs.google.com/forms/d/1Ji2yGRJ4BQZqus_AY8vlGqlsw4DwPVKR26vlNSyGLCI/edit

The first 15 participants of the PRIZM project, received by the Courses, receive a 15% discount on training in the School. The next ones - 5%. Wallets for payment will be provided after filling out the form.

 

We invite all our community to attend the training in order to improve their intellectual level, to learn a lot of new things in various fields and, of course, to talk in person!

  • April 18, 2018 9:48 PM MSK
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