Today's Readings: Day Two

Out of the numerous articles I read today, I selected three of them for this post.

The first one is from The Motley Fool. This article talks about the younger generations’ preferences when it comes to investing in cryptocurrencies.

Compared to Baby boomers and Gen X, millennials and Gen Z would rather see their 401(k) to have access to cryptocurrencies. Approximately 45% of them wished “to have cryptocurrency options, while only 31% of Gen X and just 11% of baby boomers wanted similar access.” This is the trend that the writer is referring to when he talks about the catalyst that could send Bitcoin higher in the coming weeks and months.

For him, as a result of such a trend, among thousands of cryptocurrencies in existence today, Bitcoin will receive wider attention. As such, he suggests that investors should prioritize this original cryptocurrency in their portfolio. He made use of the increasing interest in Bitcoin of big companies as the basis for his suggestion. He identified names like Tesla, Fidelity, and BlackRock. For him, it is still too early and now is the right time to invest in this most valuable cryptocurrency.

The second article is quite unusual. This talks about a comparison between Bitcoin and the banking sector when it comes to energy consumption.

I am wondering why this number came out just now. Bitcoin has been demonized for so long due to its extensive energy consumption. If this article is accurate that Bitcoin consumes only “0.05% of world energy” and that the banking sector is consuming 56x more energy than that, how come this environmental campaign against Bitcoin has been widely believed for so long? Following the same argument, if it is really true that Bitcoin is bad for the environment due to its energy consumption, and if this latest figure is accurate, then the banking sector is 56X more destructive than Bitcoin.

And so, the next time you encounter that energy consumption objection used against Bitcoin, the writer advised us to remember this number:

The banking industry uses at least 56 times more energy.

The third and final article for this day is about the need for blockchain specialists in Vietnam.

I think such a situation is true almost everywhere since this technology is young. Many are clueless about it.

In the case of Vietnam, members of the blockchain sector are calling on both the civil government and educational institutions to do something to address this shortage of blockchain experts. One way that schools can address this situation is by launching academic programs for undergraduate IT students and internships to improve their knowledge and skills about blockchain technology. For businesses, offering higher remunerations will certainly attract promising talents.

Grace and peace!