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Sunday, 21 January 18:37 (GMT -05:00)



Foreign exchange market

Bitcoin Harms Natural Environment


Today, only 1% of the global population is investing in cryptocurrencies.  However, mining those cryptocurrencies is something that all of us have to pay for. This is what Deutsche Welle thinks on the matter.
 
The buying craze around Bitcoin and other cryptocurrencies has been growing exponentially over the last year. Yet, there is nothing to be surprised about it. The thing is that Bitcoin alone has gone up in value from 1000 dollars all the way up to 20000 dollars per 1BTC! So, now the entire world is all over cryptocurrencies. This is cryptomania! People have been investing billions of dollars in the industry, whether this is mining or simple investing through online exchanges.
 
However, the law of conservation of energy is a universal law so works everywhere, whether you like it or not. While some of us treat cryptocurrency as the symbol of economic freedom, this poses a serious environmental danger for the entire world.
 
The whole point is, mining cryptocurrencies consumes an extreme amount of electricity. While it’s really difficult to provide precise figures, international experts have come up with approximate ones. According to Digiconomist, Bitcoin mining alone consumes 32 terawatt-hour, which is the annual electricity consumption of a small country like Ireland or Nigeria. Yet, Bitcoin is just one of a thousand cryptocurrencies out there. Today, mining just 1Bitcoin requires 100 kilowatt-hour. 300000 Bitcoins are mined globally every single day.
 
Why is mining so energy-consuming? The thing is, mining needs super-powerful computers, which consume a lot of electricity. The more complicated the mining algorithm, the more powerful computers are needed. The more powerful the computers, the more energy they consume. And that’s about it.
 
Greenpeace is in panic! The world mostly uses fossil fuels to produce electricity. Most mining farms are located in China, where coal is the primary fossil fuel for electricity production. With that being said, producing 1 Bitcoin produces as much of carbon dioxide as Boeing 747 carrying 1 passenger for an hour.
 
However, each coin has two sides. Experts assume that cryptocurrency mining will accelerate the rise of green energy.
 

 

 

 

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Muslims Are Forbidden to Trade and Mine Bitcoin

The Grand Mufti of Egypt Shawki Allam is reported to have issued the so-called fatwa (which means a ban on something) against cryptocurrencies. This means that Muslims can no longer trade or invest in Bitcoin or other cryptocurrencies. To be more specific, the Mufti thinks that trading cryptocurrencies is almost the same as gambling. Yet, gabling is strictly forbidden in Islam.

Publication date: 12 January 03:19 AM

Alpari’s Mobile App Gets Over 400K Users

Over the last few years, the amount of online traders using mobile apps has increased dramatically. The stats show that most of the time mobile forex traders choose mobile trading apps by Alpari, one of the biggest brokers in the international forex industry.


Publication date: 03 January 07:06 AM

Bitcoin May Trigger Another Major Financial Crisis

 Some experts say that Bitcoin and other cryptocurrencies may trigger another major financial crisis.

Publication date: 02 January 11:42 AM

Fort Financial Services ¬– World’s Best Forex Bonus Offer 2017

Masteforex-V Academy has recently announced the results of the annual contest named «World’s Best Forex Bonus Offer 2017». Fort Financial Services won the title as the forex broker occupying the first position in the corresponding rating by Masterforex-V Academy.

Publication date: 28 December 09:28 PM

Bitcoin Exchange Rate May Drop to Zero, Morgan Stanley Experts Say

Bitcoin may drop all the way down to zero dollars. This is what Morgan Stanley analysts led by James Faucette told Business Insider. Such a gloomy forecast for the world’s first and most expensive cryptocurrency to date showed up amid another major drop in its exchange rate. The thing is that Bitcoin dropped by 40% from 19K dollars all the way down to 11,8K dollars on December 22nd. 

Publication date: 26 December 12:21 PM

Bitcoin is Yet to Win Major Investors’ Trust

The first Bitcoin futures were finally launched in the USA. However, despite the fact that cryptocurrencies have already been recognized a part of the financial world, skeptics still don’t believe in them and anticipate a cryptocurrency market crash. 

Publication date: 25 December 05:49 AM

Alpari PAMM Service Gets Its Monthly Turnover Exceed $15 Billion

Most people prefer to keep their savings in a bank. They believe that despite those tiny interest rates they get paid, storing money in a bank account is way safer than anything else. The point is, we are talking about storing money while it’s wiser to invest money so that it could make even more money. For example, Europeans like to consider investing their money in various kinds of assets. They further spend their profits on some big purchases or education for their kids.

Publication date: 21 December 03:17 AM

Bitcoin Goes Above $19K, Europe Is Ready For Bitcoin Futures

The world’s first cryptocurrency has recently gone well over $19K. CoinMarketCap reports that later on Saturday, Bitcoin broke over the $19K threshold and reached 19060 USD/BTC. At that point, the BTC market cap exceeded $316 billion.

Publication date: 18 December 02:30 AM

Bulgaria May Trigger Bitcoin Crash

The international Bitcoin community has been shocked by the news that a relatively small European country named Bulgaria (the national GDP was 52,4 billion dollars in 2016) make force Bitcoin into crashing!

Publication date: 12 December 11:15 AM

Bitcoin Billionaire Predicts 2000% Rally

Cameron Winklevoss, one of the Winklevoss twins who are the world’s first Bitcoin billionaires, expects Bitcoin to gain another 2000% in the coming years, Bloomberg reports.

Publication date: 11 December 08:26 AM