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France to welcome Crypto currencies

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France to welcome Crypto currencies

The France’s central bank’s ex-deputy governor is to lead a task force to examine how to regulate crypto currency in the country.

‘We Want a Stable Economy’

As local media reports, Jean-Pierre Landau will look into “directions for regulatory development” regarding crypto currency.

Minister for the Economy Bruno Le Maire announced this action, who in a press conference Monday morning restated previous commitments to raising the topic of Bitcoin at the upcoming G20 Summit in Argentina.

“We want a stable economy,” Minister for the Economy Bruno Le Maire.

We will not allow hypothetical risks and possible financial deceit linked to Bitcoin.

Other than examining paths to directive, Landau’s task force will thus also aim to “better control the evolution and block the use of crypto currencies for tax evasion, money laundering and financing criminal or terrorist activities.”

To the bitcoin popularity France has conventionally adopted a comparatively inactive approach, in plain contrast to the benevolent landscape in nearby Holland and the equally difficult one in neighboring Germany.

Le Maire first made calls for Bitcoin to become a topic of debate at March’s summit in Buenos Aires last month, suggesting an international regulatory effort was required.

For his part, Landau, is meanwhile an obvious choice for task force chief, having written about his suspicion towards Bitcoin in early months of 2016.

Bitcoin is “the tulip of the 21st century,” adding that “a good currency should retain its value over long periods.” he said.

 

However, France has recently gestured its interest in accepting a hands-on position with Block-chain, even in more non-traditional settings.

Commenting on a decision in December to allow Block-chain-based trading of unlisted securities, Le Maire said it would increase the country’s “attractiveness as a financial center.”

Moreover he added that “The use of this new technology will allow fintech firms and other financial actors to develop new ways of trading securities that are faster, cheaper, more transparent and safer,”.

What  are  your reviews about the France’s new task force? Let us know in the comments below!

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Crypto market stabilizing gradually

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Crypto market is stabilizing around $450 billion market cap after gradual increase in overall value in recent weeks.

Leading crypto currencies are on the rise, lead by Bitcoin, Ethereum, Bitcoin Cash and Ripple. Although increase in bitcoin value is less as compared to other crypto currencies but overall market is on rise with current market of $440 billion.

Bitcoin is currently hovering around the $9300 mark after being rejected at $10000 mark couple of times in last days, Ethereum is on the charge as well but the most surprising one is Bitcoin cash. Bitcoin cash was at $600 couple of weeks ago and now at $1600, shows rapid growth in recent weeks.

EOS

Crypto currency of the month has to be EOS, investors of EOS are enjoying a massive rise in value in past few weeks, EOS started April at $5 mark and now is at $18 , value of EOS increased more than 3 times within one month.

Current top 5 crypto currencies

  1. Bitcoin : $9388
  2. Ethereum: $741
  3. Ripple: $0.83
  4. Bitcoin Cash: $1630
  5. EOS: $18.28

 

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Take a Crypto Pill

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Crypto Pills

Crypto market is crashing, we all know that, panic sellers are taking over the market with massive sell-off. You can’t control that, just calm down and take a Crypto Pill to make things easy.

Crypto Pill is the term being used by industry leaders to make things calm down from recent fiasco, yesterday a leaked news from CFTC about Bitfinex and Tether made things even more difficult for crypto traders, short sellers went all into the market with massive short bets, and they won, Bitcoin price slipped below $10000 level to as low as $9500, but later on recovered to $10K , but selling pressure is still there.

First South Korea and now US

First it was South Korea, the country with massive trading volumes in crypto market, they announced to ban anonymous crypto trading and ban took place effective from 30th Jan 2018, then a sudden news came from US market when Bloomberg broke the news that US financial regulatory authority CFTC investigating Tether and Bitfinex, but later on it was confirmed that news was from December last year, which made market calm down a little bit after all that tension and hype about US crackdown on crypto currencies.

HODLers will take over market soon

Despite of all this fiasco, Hodlers are still holding their Crypto currencies, they are not giving up and they holding for their dear life, it is very much possible that they take over this market in near future, making another uptrend in coming months.

 

 

 

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Venezuela is the cheapest country to mine Bitcoin

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Cost of mining one Bitcoin in Venezuela is just $531 

Most expensive country to mine Bitcoin is South Korea, where cost of mining one bitcoin is $26,170

After recent crackdown by Chinese Government on Bitcoin miners, most talked about topic in bitcoin community is that which country would Chinese Bitcoin miners chose to shift, as many research firms were working to find the best possible option for the miners, one of the best option is Venezuela, where cost of mining one bitcoin is the cheapest, just $531, as compared to China where cost of mining one bitcoin $3172.

Others with lower costs are Bangladesh, Belarus, Paraguay, Serbia and Trinidad & Tobago. The most expensive is South Korea at $26,170 per coin. The U.S. cost is $4,675.
Calculations for the amount of energy consumed were based on the average usage of three popular types of mining equipment: the AntMiner S7, the AntMiner S9 and the Avalon.

Bitcoin mining consumes a lot of energy and according to one estimate, Bitcoin mining currently consuming energy which is more than 159 countries, including countries like Ireland

Bitcoin mining leading surge in global electricity consumption

 

 

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