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    Thread: How safe is Cryptocurrency -Parity Bug freeze wallet

    1. #11
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      Quote Originally Posted by NikitaBelle View Post
      Will the cryptocurrency experienced massive failure if there is no electricity?
      I heard that it requires really massive electricity, well, they can store electricity by solar panels through big batteries though, here in my place the cost of electricity is very expensive.
      So it wont be wise to do mining, maybe trading
      Quote Originally Posted by 786pk View Post
      Yes Nikita you right , for mining a bitcoin you really need a massive electricity and fast super computer with a heavy operating system which is very costly for a average earning person like us but we can earn through trading a cryptocurrency like Forex it moves really fast as comparing to the currency pairs
      Can you imagined if one country has a lot of bitcoin miners? I think it will contribute to a massive power black out all over the place. I just don't know if the profits from bitcoin mining is enough to sustain a miners hardware and electricity bills.
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      Well either it was freeze or not the etherum like other crypto currencies are now trading higher strongly and this is a good time for anyone that will like to invest into these assets because there is a huge potential for good returns within few months.

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      I don't believe that having many miners of bitcoin in the country will create a total black out, that assumption does not hold water, each user of electricity pays for what they consume and the higher their usage the more revenue that will be generated for the power distribution companies.

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      Cryptocurrency is very safe at least from the little understanding i have gathered, outside a few hacks here am there concerning the Ethereum platform which takes place whenever there is a new ico, I don't think we should be worried about our investments into the cryptocurrency world, but we should always use precautions to protect our money.
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