Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Monday, 23 April 01:47 (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.
 

 

 

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

Backed by Alpari, Bicycle Expedition Conquers North Pole

For the first time in history, the northernmost point of our planet was conquered by a man on a bicycle, who is famous Russian adventurer Bogdan Bulytchev. For those of you who don’t know, he is a member of the Russian Geographical Society and the State Polar Academy.

Publication date: 21 April 12:23 PM

Roubini Names Blockchain Overhyped Technology

Famous economist Nouriel Roubini criticized the foundation of cryptocurrencies – the so-called blockchain technology. In his article for Project Syndicate, Mr. Roubini called blockchain the most overhyped technology ever.

Publication date: 20 April 04:08 AM

Bitcoin Gains Value: 2 Days in a Row. Over 10% a Day

Now it seems that the long-term retracement of the USD/BTC exchange rate seen over the first quarter of the year is gradually reversing back for the uptrend.

Publication date: 13 April 12:57 PM

Bitcoin Rate and US-China Trade War

The cryptocurrency market has been going down steadily for a while. According to CoinMarketCap, the Bitcoin exchange rate has been moving around 6800 USD/BTC. Ethereum, Ripple, Bitcoin Cash and Litecoin have been trading around 382, 0,49, 633, and 119 dollars per coin respectively.

Publication date: 06 April 10:02 AM

It’s the Day of Reckoning for Cryptocurrency Funds, Bloomberg Says

Bloomberg experts claim that the day of reckoning for cryptocurrency funds has finally come. Last year, when the world’s first digital currency (Bitcoin) went sky-high in mid-December and reached another all-time high at 20000 USD/BTC, over 150 funds specializing in cryptocurrencies emerged on the Internet. In 2017, their profits reached 1000%.

Publication date: 05 April 09:43 AM

Masterforex-V Expo Names World’s Best Forex Brokers For Beginners in March 2018

Each and every forex trader out there faces the same challenge at some point in their career. This challenge boils down to choosing the right forex broker. This holds especially true for beginners who are just getting their feet wet in the forex trading environment. This choice is fairly significant for all of them since their future trading performance will depend on that choice. The truth is, all of those forex companies may differ in a number of aspects, including the offered trading conditions.

Publication date: 04 April 12:01 AM

Bitcoin 2018: New Cryptocurrency Realities

In March, the BTC exchange rate dropped by almost 3000 dollars. Some experts predict a further downtrend in the near future, Market Leader reports.

Publication date: 28 March 06:22 AM

Experts Predict Bitcoin Move Above $10K

This week Bitcoin may come close to the psychological level of 10000 USD/BTC and break above it, some international experts say.

Publication date: 26 March 02:10 AM

Masterforex-V Tells You What You Don’t Know About Bitcoin

How do you treat Bitcoin and other cryptocurrencies? Usually, those who ask you this question expect you to be either pessimistic or optimistic on the future of digital currencies, ICO and blockchain.

Publication date: 23 March 11:27 AM

Google Bans ICO and Cryptocurrency Ads

A couple of days ago, the top management of Alphabet Inc. announced that Google would ban any ICO and cryptocurrency ad campaigns starting from June 2018. On top of that, they would toughen the requirements for advertising other risky financial products, including binary options.

Publication date: 18 March 05:54 AM