Electric car maker Tesla will stop accepting Bitcoin as a payment, CEO Elon Musk tweeted on Wednesday, citing environmental concerns.
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There are over 2000 cryptocurrencies available to buy and sell, though most have little value. Of these, bitcoin, ether (the token of the Ethereum network), ripple, bitcoin cash (an offshoot of bitcoin) and litecoin are among the most valuable by market capitalisation.
This gives sellers an incentive to charge transaction fees, since they get paid faster by doing so, and so it’s fairly common for cryptocurrency transactions to come with fees.
SynopsisThe global crypto market cap fell more than 2 per cent to $2.82 trillion mark compared to the last day. However, the total crypto market volume jumped over 31 per cent to $176.91 billion.
"Over the past week, Ethereum scored another all-time high and Binance Coin traded strongly in the greens," it added. "Solana surpassed Tether and Cardano to be the fourth largest crypto."
Usually, when you buy stocks or cryptocurrency, the price chart is a valuable tool in your analysis. However, the combination of Safemoon’s short price history and low liquidity means that the price chart doesn’t tell us as much as it would with other cryptos. The huge spikes in April and May have been followed by a sustained decline, which has led the price to where it is right now.
“We are concerned about rapid increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Musk said on Twitter...
Exports of liquefied natural gas (LNG) from Equatorial Guinea are expected to resume after more than six weeks of disruption following an incident at the Alba gas processing facility, trading sources and the plant operator said. Sources have told Reuters in October that force majeure has been declared at the facility and some LNG cargoes have been deferred or canceled. The West African Punta Europa LNG plant is expected to export its first cargo since Sept. 25.
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Mining. The process of applying high amounts of computing power to solve complex equations that verify transactions in a virtual currency. Miners who solve the equations are awarded new units of the virtual currency.
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The market for cryptocurrencies has roughly quadrupled from its 2020 year-end value [File: Paul Yeung/Bloomberg]