“It is really by design that Bitcoin consumes that much electricity,” Mr Rauchs told BBC’s Tech Tent podcast. “This is not something that will change in the future unless the Bitcoin price is going to significantly go down." "These characteristics more closely resemble gambling than a financial service," the MPs added. Identity Theft – Crime in which someone wrongfully obtains and uses another person’s personal data in some way that involves fraud or deception, typically for economic gain (Aka identity fraud). Bitcoin Cash has the same mining process as Bitcoin, although it’s faster, and the same limit of 21 million solutions, of which roughly 80% have already been found. The speed with which Bitcoin Cash handles transactions has led some Bitcoin bulls to prefer it over the original Bitcoin. John Sedunov, an assistant professor of finance at the Villanova School of Business, disagrees, saying he doubts it will have the “staying power” of Bitcoin, although some trading platforms are supporting it.