Study: CO2 emissions of Bitcoin mining over that of Jordan

The mining of the crypto currency Bitcoin should provide according to a study of three scientists of the TU Munich for an annual output of 22 to 22.9 million tons of carbon dioxide (CO2). The emission lies between that of Jordan and Sri Lanka or for instance a large city in a highly developed industrial country such as Hamburg. This is based on an energy consumption of 45.8 trillion watt hours per year, as determined by the researchers in November 2018.

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How Fibonacci Retracements Work

Fibonacci Retracements William Delbert Gann (1878-1955) was probably the first trader to use the Fibonacci numerical ratios. The Fibonacci number sequence is common in nature. Each Fibonacci number is equal to the sum of the two preceding Fibonacci numbers. This series of numbers becomes immensely large in a short time.

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BitMEX Experience

On Bitmex crypto currencies are not traded directly but contracts. All contracts are traded against Bitcoin, so you have to send Bitcoins to Bitmex first. The platform is particularly popular with experienced traders, as crypto currencies can be traded with a maximum leverage of 1:100. The prices can also be shortened. So you can also bet on falling rates.

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Crypto Wallets

In principle, all cryptocurrencies are stored in so-called „wallets“. These can exist on your computer, your phone, a specialized piece of hardware, a piece of paper or simply in your memory – yes, really. In principle, wallets can be compared to traditional wallets or bank accounts: In a sense, they contain the amount of (crypto) currencies that belong to his address, even if these are only virtual. Read More

Advantages Of Cryptocurrencies

Open Systems

The most important advantage of cryptocurrencies like Bitcoin is probably the openness with which the system meets its users: In order to use cryptocurrencies, only an appropriate program (the so-called „client“) is required, which must be installed on your own computer. Read More

Disadvantages Of Cryptocurrencies

Dependence on technical aids

The use of P2P digital currency is not possible without technical tools, as each transaction requires a computer/smartphone with client software and Internet access installed on it. In addition, the software dependency means that security updates for all clients may become necessary due to errors in the software or the cryptographic algorithms behind the cryptocurrencies – these updates from millions of computers would inevitably cause a complete interruption of the system during which no transactions could take place – hard to imagine in a global economic system. Read More

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