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Cryptocurrency News With Bitcoin Price Is So Volatile

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Crypto Business World Follow

INDIA

Dec, 15 2020

Dec, 15 2020

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Bitcoin is the pioneer in this market space. We had South Korea and China as the newest countries to boom in cryptocurrencies. Later the South Korea Ministry of Strategy and Finance, one of the most member agencies of the South Korean government's cryptocurrency regulation task force, came out and said that their department does not accept as true with the premature statement of the Ministry of Justice a few potential cryptocurrency trading ban. While the South Korean government says cryptocurrency trading is nothing quite gambling, and that they are worried that the industry will leave many voters within the poor house, their real concern may be a loss of tax income . this is often an equivalent concern every government has.


China has grown into one among the world's biggest sources of cryptocurrency mining, but now the govt is rumoured to be looking into regulating the electrical power employed by the mining computers. Over 80% of the electric power to mine Bitcoin today comes from China. By shutting down miners, the govt would make it harder for Bitcoin users to verify transactions. Mining operations will move to other places, but China is especially attractive way to very low electricity and land costs. If China follows through with this threat, there will be a short lived loss of mining capacity, which might end in Bitcoin users seeing longer timers and better costs for transaction verification. This ride will continue, and far just like the internet boom, we will see some big winners, and eventually, some big losers. Also, almost like the web boom, or the uranium boom, it is those that get in early who will prosper, while the mass investors always show up at the top , buying in at the highest .


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