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A recent report shared by Radar online  revealed that Bill invested in Bitcoins to save the “leftovers” of his 500 million dollar fortune from government, creditors and his own wife, as he believes that Camille (his wife) will divorce him and go after his fortune.

The report comes from an unnamed insider who claims Cosby has “moved close to $5 million in Bitcoin after an expert told him it’s practically untraceable and impossible for anyone but him to retrieve it,”.

The insider added that through Bitcoin, the funds,

“couldn’t be taken in a divorce, bankruptcy or by the government in any liens.”

Bill Cosby also is $25 million in “unpaid legal bills”, Radar Online reports.

According to the author, Frank Ahearn, Cosby’s reliance on cryptocurrencies is a “huge red flag”, when considering its decrease in value, which can be looked at as a “great took if you’re planning an escape.”

Cosby is Called ‘American icon’ and ‘one of the best entertainers in 50 years in American TV’. However he was later accused in sexual assault charges and rape.

Documentary movies by BBC:

Image courtesy of MATT SLOCUM/AP/REX/SHUTTERSTOCK

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Tottenham Hotspur , Leicester City , Newcastle United , Southampton , Cardiff City , Brighton and Crystal Palace have agreed to set up digital wallets with an online trading platform which says it is in “no doubt” the currency will eventually replace sterling in the multi-billion pound transfer industry.

The bitcoin system will also help clubs tackle ticket touting and counterfeit merchandising, according to online trading firm eToro , which has paid clubs to take part.

“Blockchain and cryptocurrencies, which have no physical form and exist only as strings of computer code, were launched with the goal of becoming decentralised currencies.”

“The use of bitcoin in the multi-billion pound transfer market would improve “transparency”.

said Iqbal Gandham, UK managing director at eToro for Daily Telegraph.

Read also: Adoption of Immediate Payment Technologies Through Mobile Applications is Rising at an Extraordinary Way

All 7 teams have been paid to receive bitcoin in a bid to spark interest. This is a part of eToro partnership program but instead paying in pounds eToro paid in Bitcoins. What teams will do with it is entirely up to them.

F ran Jones, head of partnerships at Tottenham , said the partnership was launched because the club is “committed to technology and innovation “. Paul Barber, chief executive at Brighton , said the project will “help us better understand the true potential offered by blockchain ”.

Original article on Telegraph by Tom Morgan & Hasan Chowdhury

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The word “bitcoin” is as likely to garner feverish excitement as it is glaring criticism. The financial community sees speculative promise in the form of trade that currently has little to no regulation. Meanwhile, others argue that it’s a distraction that detracts from the overall longevity of US financial institutions.

Bitcoin’s energy consumption has become a recent talking point in the debate. A Forbes article published May 30 indicates that bitcoin dramatically increases global energy consumption—and that electricity is its “Achilles heel.”

I am a researcher who studies clean energy technology, specifically the transition toward decarbonized energy systems. I think that the conversation around bitcoin and energy has been oversimplified.

New technologies—such as data centers, computers and before them trains, planes and automobiles—are often energy-intensive. Over time, all of these have become more efficient, a natural progression of any technology: Saving energy equates to saving costs .

By talking specifically about just the consumption of energy alone, I believe many fail to understand one of the most basic benefits of renewable energy systems. Electricity production can increase while still maintaining a minimal impact on the environment.

“Rather than focusing on how much energy bitcoin uses, the discussion should center around who indeed is producing it—and where their power comes from.”

Read also: Intel Patented Technology Which Will Make Bitcoin Mining over 30% More Efficient

Counting consumption

Unlocking a bitcoin requires an intense amount of computational power. Think of bitcoin as sort of a hidden currency code, where its value is derived by solving a programmable puzzle. Getting through this puzzle requires computer brainpower.

Electricity is 90% of the cost to mine bitcoin . As such, bitcoin mining uses an exorbitant amount of power: somewhere between an estimated 30 terrawatt hours alone in 2017 alone. That’s as much electricity as it takes to power the entire nation of Ireland in one year .

Indeed, this is a lot, but not exorbitant. Banking consumes an estimated 100 terrawatts of power annually . If bitcoin technology were to mature by more than 100 times its current market size, it would still equal only 2% of all energy consumption.

Power sources

Bitcoin is certainly consuming an increasing amount of power worldwide, but is it increasing the world’s carbon consumption? Bitcoin miners have traditionally set up shop in China , where coal supplies 60% of the nation’s electricity .

Now, bitcoin mining is exploding in areas with cheap power, like the Pacific Northwest . Power there is mainly cheap due to the massive availability of hydropower , a low-carbon resource.

Bitcoin mining in China, with a largely fossil-based electricity source, may indeed be problematic. China is already one of the world’s major contributors of carbon emissions . However, bitcoin mining in Oregon? Not the same thing. Not all types of energy generation are equal in their impact on the environment, nor does the world uniformly rely on the same types of generation across states and markets.

In Europe, for example, Iceland is becoming a popular place for bitcoin mining . That nation relies on nearly 100% renewable energy for its production . An abundant supply of geothermal and hydropower energy makes bitcoiners’ power demand cheap and nearly irrelevant.

Similarly, in the hydropower-driven Pacific Northwest, miners can still expect to turn a profit without contributing heavily to carbon emissions .

The right discussion

“Like many other aspects of the energy industry, bitcoin is not necessarily a “bad guy.” It’s simply a new, and vaguely understood, industry.”

The discussion about energy consumption and bitcoin is, I believe, unfair without discussing the energy intensity of new technologies overall, specifically in data centers.

Rather than discussing the energy consumption of bitcoin generally, people should be discussing the carbon production of bitcoin , and understanding whether certain mining towns are adding to an already large environmental burden.

Although there has been extensive discussion in the media of bitcoin’s energy consumption, I’m not aware of any studies that actually calculate the comparative carbon footprint of the bitcoin process.

Global electricity consumption is going up overall . The US Energy Information Administration predicts that world use will increase nearly 28% over the next two decades . But increasing energy consumption is bad only if we aren’t shifting toward less carbon-dense power production. So far, it seems that only miners are currently shifting toward cleaner parts of the world .

So perhaps people should quit criticizing bitcoin for its energy intensity and start criticizing states and nations for still providing new industries with dirty power supplies instead.

This article was originally published on The Conversation . Read the original article .

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