Every project on DonorsChoose.org was just funded by a $29 million cryptocurrency donation

March 29, 2018 by  
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DonorsChoose.org helps teachers crowdsource funding for education needs, with over 35,000 open campaigns asking for everything from robotics kits to field trips. At least, there were 35,000 campaigns open last week. But as of earlier this week, there were zero campaigns thanks to an incredible $29 million donation from cryptocurrency startup Ripple that fulfilled every single one. According to DonorsChoose.org, this donation will provide funding for 70k books, 35k computers, 2,300 musical instruments and much more. Ripple contributed $29 million in cryptocurrency to 35,647 open campaigns, funding wishlists from over 28,000 teachers at 16,500 schools. In a joint statement with Ripple’s VP of Marketing Monica Long, DonorsChoose founder Charles Best said “The teachers behind these projects work with more than a million students who are now going to get materials and experiences that they need to learn. I do not believe there has ever been a day when this many classroom dreams came true.” Related: Former Patagonia CEO announces largest land donation in history While it might seem like Ripple and DonorsChoose are very different organizations, both focus on changing the way we fund the world. When Ripple approached Best to see what DonorsChoose needed most, Best made a one-in-a-million request to fund every project on the site. To his surprise, Ripple agreed. If you want to see what all the money is doing for teachers and students, check out the hashtag #bestschoolday on Twitter , where people are sharing what this announcement means for them. If this act of generosity inspires you as much as it does us, you can help out by going to DonorsChoose.org and funding one of the 6,000 projects that have popped up since Ripple donated. @HelmsDLSchool @Ripple #BestSchoolDay My Donors Choose project got funded!!! pic.twitter.com/esFiTJGzhr — Maria Hernandez (@marher2384) March 28, 2018 I logged into my Donor's Choose account and saw that my project was fully funded!!! @Ripple is allowing my students to experience a week-long trip to Atlanta and Alabama to visit HBCUs. I can't believe it. Thank you!! #BestSchoolDay #HBCU — Joe Somerville (@joesomerville) March 28, 2018 Thank you @Ripple for Funding our @DonorsChoose project! You have made the day of so many! #bestschoolday #oneRCE #b212rce3 pic.twitter.com/V0RdynVp2X — RCE 3rd Grade (@RCE3rdGrade) March 28, 2018 + DonorsChoose.org Via Fast Company Images via DonorsChoose.org and Unsplash

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Every project on DonorsChoose.org was just funded by a $29 million cryptocurrency donation

Power-hungry Bitcoin could consume as much energy as Denmark by 2020

April 4, 2016 by  
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The value of Bitcoin has fluctuated widely since the pioneering cryptocurrency’s debut in 2009. Middling at less than $20 for much of its early tenure, Bitcoin soared to an all-time high of $979.45 in December 2013 before fluctuating approximately between $200 and $400 over the past year. However, Bitcoin’s true costs are hidden in this traditional market valuation. In order to obtain Bitcoins, one must “mine” them using a computer rig, and these high-performance computers have high energy needs. One analysis of the cryptocurrency projects that by 2020, global Bitcoin mining could consume as much electricity as the entire country of Denmark . Bitcoin is a peer-to-peer currency that can be transferred between individuals without a governing body or bank acting as intermediary. A program incorporates the value and present circulation of coins to steadily generate new Bitcoins. As the currency has aged, the mining of new Bitcoins has grown more energy intensive. The current extraction rate of Bitcoins uses approximately 350 megawatts, enough to power 280,000 American homes. Current Bitcoin demand also requires a mining network infrastructure that weighs over 10,000 metric tons. Related: South American Plastic Banks Turn Pollution into Currency Environmental researcher and Bitcoin enthusiast Sebastian Deetman has explored the future growth of Bitcoin and how it might affect future energy use. He said, “The results show that in an optimistic scenario, the increase in electricity consumption of the bitcoin network compared to now is not shocking, from around 350 MW to around 417 MW, but still on the order of one small power station.” If his pessimistic projections hold true, the difference in power use would be drastic. “Even in the optimistic scenario, just mining one bitcoin in 2020 would require a shocking 5,500 kWh, or about half the annual electricity consumption of an American household,” says Deetman. “I haven’t given up on the idea of distributed network transactions, but a radical rethinking of how these may be secured would be beneficial, be it at least for the environment.” Solar-powered Bitcoin farm: a worthy investment? Via Vice Motherboard Images via Zach Copley/Flickr  and  Mirko Tobias Schäfer/Flickr

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Power-hungry Bitcoin could consume as much energy as Denmark by 2020

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