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Cryptocurrencies work using a technology called blockchain. They are tokens that can be used as a form of payment in exchange for online goods and services. They carry a pre-determined store value of their own, just like any other fiat currency like the US dollar or the Indian rupee. Cryptocurrencies are digitally mined, where very sophisticated computers solve extremely complex computational mathematics problems. Their mining is painstaking, costly and only sporadically rewarding.
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Bitcoin hit an all-time high of $68,530.34 early Tuesday, according to CoinMarketCap. That's just a few weeks after it hit a previous high of nearly $67,000 before sliding as much as 12%.
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Just as the desirability of its products impacts a company’s share price, the crypto monetary system impacts the cost of crypto trading. The value of a cryptocurrency is primarily affected by its supply, the market’s demand for it, availability, and competing cryptocurrencies.
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Decentralization is a primary tenet of cryptocurrency. Whereas most currencies are backed by a central bank — the U.S. dollar, for example, is backed by the “full faith and credit” of the U.S. government — cryptocurrencies are maintained and valued by their users.
Elon Musk’s announcement that Tesla would no longer be accepting Bitcoin as payment on environmental concerns was followed by China issuing a crypto crackdown.
At time of press, this was SafeMoon’s latest update; there was no confirmation that the issues were persisting or had been taken care of.
A petition to 'Get Safemoon Listed On Coinbase' has currently gained 4,646 signatures.
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The cryptocurrency market is a vast and sometimes confusing place with different coins to choose from.
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While supported in the United States, this is not entirely accurate, despite what the name suggests. Unfortunately, while most users in the U.S. can use this platform, it is not available in all states. Currently, the platform is only available in 43 of the 50 U.S. states. This is far from perfect, and the company has said that it plans to launch in all states by the end of the year. Whether this will happen remains to be seen.
DigbethRaihan Ahmed, 20, was doing more than double the speed limit when he hit much-loved Ghulam Nabi
The decision by Tesla, and announced by Musk, was seen by some as a slight on the credibility of cryptos to become a viable method of payment against physical currencies.
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