Yep : https://spectrum.ieee.org/energy/policy/the-ridiculous-amount-of-energy-it-takes-to-run-bitcoin
I'd answer but I've got no ****ing idea what you're on about so I guess the answer is, **** knows. Hope that helps.
Blockchain technology is great and so far with cryptocurrency we only have very early adoption. We've only just started to see trading platforms that are easy to use and new instruments such as futures trading in cryptocurrency being authorised. Theres also rumours of a couple of big companies starting to accept cryptocurrency payments. When Catalonia recently pushed for independence they spoke about using a cryptocurrency instead of traditional banking system. And there's loads of other examples of how cryptocurrency is still at a very early point of its journey. We've had the first wave of people getting excited after finding out about it and then panicking and there being a reasonable sized dip. But in the overall lifespan of cryptocurrency I'd be inclined to believe there is a long way to go.
Anyone else confused and baffled about wtf people are talking about. How does crypto money become hard cash?
When you sell it, I think. Though you can currently buy things with it, if the person you are doing business with will accept payment that way. Which leads to the next obvious question - what the **** is cash, anyway? It's only bits of paper, a "promisary note" I believe it's called. Probably best to just bury a load of gold in the back garden
And how much money that changes hands is actually a physical note or coin. The majority of it is done digitally these days. It's just numbers on a screen. Money only has value if both parties agree that it has value.
This is all very true. Still seems complicated. Guess it's just research and trying to understand this Bitton malarky
Crypto currencies trading isn’t for the feint hearted - be prepared for wild and unpredictable price swings. Only speculate with money that you can comfortable afford to lose either in full or partially - for every winner there is a loser, those that jumped on the Bitcoin hype @ $20k are staring at a big loss as the price is currently $8k. To explain in plain English, anyone who paid $20k for 1 Bitcoin spent £14500 with fees, and currently the price is $8k or £5500 after fees, so a loss of £9000 or 60% of your dough ! So caveat emptor - buyer beware !
Who knows, it could go further down. i have been trading Litecoin and in the last few days it’s been $197, down to $108, back up to $176, back down to $138, then up to $177, and is now $150 !!! If you pick the movements and go with them then there is money to be made as the movements are all overdone as people panic. PM if you want any trading advice
Lloyds Banking Group is banning customers from using credit cards to buy Bitcoin and other cryptocurrencies. The move comes amid fears that investors speculating on the volatile market could face huge losses. Bitcoin surged in value during in 2017, starting the year at around $900 and topping $20,000 in December. But it has since tumbled sharply, dipping below $8,000 on Friday on worries about a global regulatory clampdown. In the UK, Theresa May has said Britain should take a serious look at digital currencies such as Bitcoin because of the way they can be used by criminals. Lloyds Banking Group has now taken action on fears that some credit card customers are gambling on making big profits on cryptocurrencies and overlooking the fact they will be laden with debt if the price falls, the Daily Telegraph reported.
Yeah, when has a major bank ever been concerned about people gambling their money ? That's basically the stock market, which they trade on with people's money every day of the year. The cynic in me thinks it's more about not wanting people to make money in a currency that they cannot regulate.
People shouldn’t use credit cards to pay for things that they can’t afford say the banks. Why do banks issue them then ! Coz they make ****loads off them and hate it when they have to take a hit from a small percentage that defaults
