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Saturday, 21 July 01:36 (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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Bitcoin Gets Cheaper on News about Hacking Swiss Cryptocurrency Exchange Bancor

On July 11th, Bitcoin and other altcoins continued their downtrend started on Monday. International experts say that the biggest reason for that is the news on hacking a Swiss crypto exchange known as Bancor. In particular, they say, the hackers stole 23,5 million dollars in crypto coins.

Publication date: 12 July 11:32 AM

Bitcoin Rate Reaches 6700 USD/BTC

At the end of the trading week, the BTC exchange rate reached 6700 USD/BTC. The entire cryptocurrency market showed confident growth as well.

Publication date: 08 July 07:56 AM

This week Bitcoin may raise to 7000 USD/BTC

 This week, Bitcoin may grow in value all the way up to 7000 USD/BTC, some experts say. As you probably know, the past trading week wasn’t successful for the world’s first cryptocurrency, as well as for the rest of the crypto market. 

Publication date: 25 June 10:41 AM

UK to Start Litcoin Futures Trading

Starting from tomorrow, international investors will be limited only to buying Bitcoin futures. The thing is, on June 22nd, a UK-based crypto futures platform named Crypto Facilities launches Litecoin futures.
 
Publication date: 21 June 01:06 PM

Will Bitcoin Dive Below $6000?

Publication date: 19 June 12:42 PM

Today’s Bitcoin Rate Signals Growing Risks in Banking Sector

Yesterday, the BTC exchange rate suddenly started growing, probably as a part of a recovery move against the existing downtrend. According to CoinMarketCap, the current BTC exchange rate is somewhere above 7500 USD/BTC. Over the last 24 hours, the world’s first cryptocurrency has gained some 5%, trying to recover from May’s downtrend (in case you don’t know, the coin has lost 20% since early May before starting to recover yesterday).

Publication date: 31 May 08:33 AM

Bitcoin Goes Down Before Another Rally?

The BTC exchange rate keeps on going down while being driven by a number of factors and circumstances. International experts say that the price of the world’s first and most popular cryptocurrency is currently going down just to gain some momentum later and skyrocket to new highs.

Publication date: 29 May 11:19 AM

Masterforex-V Analysts name Successful ICOs in May 2018

For those of you who don’t know, an Initial Coin Offering (ICO) is all about raising funds. To be more specific, startups sell their underlying crypto tokens in exchange for existing crypto currencies, mostly Bitcoin, Ethereum and other altcoins out there. This resembles an IPO in the stock market where investors buy a newly offered stock.

Publication date: 23 May 12:14 PM

Bitcoin Will Hit $20K, CoinShares Says

Bitcoin is really capable of getting back to the all-time high at $20K per coin. This is what founder of Coinshares Danny Masters thinks on the matter. He is not a rookie in this business. His company has been creating investment products for the cryptocurrency market and conducting blockchain-related research for years. Mr. Masters believes in the future of Bitcoin and altcoins. However, he thinks the market is yet to pass a few development stages. 

Publication date: 20 May 08:38 AM

German Stock Exchange Börse Stuttgart Welcomes Cryptocurrencies

Soon enough, maybe this fall, German stock exchange Börse Stuttgart is going to start working with cryptocurrencies. For that purpose, the exchange is expected to use its branch. Trading cryptocurrencies will be implemented through the Bison app. The expected trading turnover is around 100 billion dollars.

Publication date: 17 May 12:00 PM