China's warning, the price of bitcoin has come down to the lowest level
Bitcoin price plummets, warns Chinese investors to refrain from digital currency speculation, British media.
Bitcoin prices hit 3-month low, warning Chinese investors to refrain from betting on digital currency. According to the details, the price of China's digital currency bitcoin hit a three-month high after China issued a warning to investors. According to a report by a foreign news agency, the price of a bitcoin, which has touched the limit of 60 60,000, is circulating at 40 40,000, which has caused huge losses to investors.
China has recently warned its investors to refrain from betting on cryptocurrencies. Was banned.
According to a BBC report, three Chinese financial institutions, the National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China, issued a warning on social media.
The Chinese financial institutions, backed by the Chinese state, have warned people that they will not be protected if they incur any losses while trading cryptocurrencies. That the recent change in the value of the cryptocurrency is a violation of the security of people's assets and is affecting general economic and financial peace.
The Center for Alternative Finance, based at Cambridge University in the United Kingdom, is constantly studying the rapidly growing trend of different types of cryptocurrencies in the world. The electricity consumed annually can be between 40 and 445 terawatt hours. The UK consumes 300 terawatt hours of electricity per year, while Brazil consumes about 445 terawatt hours of electricity annually.
In addition, the harmful effects of bitcoins on the environment are due to the fact that people mining bitcoins are often using electricity that is not generated from environmentally friendly sources. Two-thirds of the electricity used to run the bitcoin network comes from sources that cannot be reused, such as fossil fuels (oil, gas, coal, etc.).
The use of so much computer in the search and transaction of bitcoin, and consequently the use of electricity, is due to the fact that the technology of bitcoin is designed to consume a lot of energy. ۔ The bitcoin depends on the large network of computers that are not connected to each other