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Crypto Currency:

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Written by   29
7 months ago

Crypto:

Bitcoin is considered a cryptocurrency (English: cryptocurrency), meaning that the currency is primarily subject to privacy principles. It is also considered the only currency of its kind, but in reality there are at least 60 such cryptocurrencies on the Internet, six of which are genuine. Since Bitcoin is an open source currency, it can be replicated and modified to make a new currency, so all existing cryptocurrencies work with the exception of Ripple Bitcoin.

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A few crypto currencies:

Bitcoin

Ethereum

Ethereum Classic

Augur

Dash

Litecoin

Monero

NXT

Ripple

Stellar Lumens

Block chain:

Blockchain is a new kind of Internet in which everyone can view digital information but cannot copy it. The record of every ten minute transaction is checked and saved which is called block. All the data is on the network so everyone can see it.

Privacy:

It is believed that the record of bitcoin transactions may not be known to anyone but it is not. Every transaction is linked to a coded address and this address is visible to everyone. Record holders of these addresses have revealed that there are only 1000 people in the world who control 40% of the global market. Such people are called "bitcoin wheels".

"Although bitcoin's transactions are designed to be anonymous."

Just as a bank has complete information about its customers, so does a cryptocurrency exchange have complete information about cryptocurrency users.

"Do not use bitcoin for illegal activities."

Contrary to popular belief, cryptocurrency is subject to government regulations. You can't do whatever you want with it. It does not provide complete anonymity. And maybe now the bubble is about to burst.

Contrary to popular belief, cryptocurrency IS regulated, you CANNOT do whatever you want with it, it is NOT completely anonymous, and yes, there is probably IS a bubble forming right now.

Well known crook Edward Snowden has revealed that the US intelligence agency NSA has been monitoring bitcoin users since 2013.

Bitcoin in the US:

In early July 2017, the US Commodity Futures Trading Commission granted Bitcoin a Swap Execution Facility, which means that Bitcoin options can now be traded.

State Bank of Pakistan:

On April 29, 2018, Asim Bakshi writes on 'Hum Sab':

The State Bank of Pakistan, in an official letter issued earlier this month, has instructed the public to avoid all types of corrupt currencies, including bitcoins. The letter also said that Anyone sending money out of Pakistan through Pakistan will be interrogated in accordance with the laws of the country. Furthermore, banks and currency dealers have been instructed not to become party to any such transaction which involves cryptocurrency. The reasons given for this warning against the currency are quite valid as well as very interesting and meaningful in two respects. It is impossible to give any kind of legal guarantee to the people involved in these transactions due to the ambiguity of the currency. "

Impact of bitcoin mining on the environment:

The energy used for bitcoin mining has increased dramatically in the first fortnight of January 2018, according to a report by the Urdu Forum, which is based on a report by Power Compare, a UK think tank. The electricity used has exceeded 40 TW. According to the report, the electricity used for this purpose this year is more than the total electricity consumption of 159 countries. It should be noted that the total power generation of Pakistan in the year 2016 was 196 TW, which gives an idea of ​​how much power is being used for bitcoin mining. In terms of power consumption, its production has also increased significantly and most of the power generation consists of generating electricity from traditional methods i.e. oil and coal which has a very bad effect on the environment.

Erdogan Forum's report on the impact of bitcoin mining on the environment ...

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7 months ago
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Comments

Good effort keep it up brother a very warm welcome to this platform ...

$ 0.00
7 months ago

this is good one bruh no one currency compete with bitcoin

$ 0.01
7 months ago

Yes bro this is the only one in the world with no competition 😉

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7 months ago

💯

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7 months ago