What Is Bitcoin - 969 Words

It was announced earlier this month that Uruguay is setting up a plan to try to implement the use of digital currency as a form of doing business throughout the country that is not Bitcoin. The plan is set to last over a 6 month period and all users have to do is download an application on their phone from epeso.com.uy and will be able to access their digital wallet from there. Uruguay’s Central Bank that is heading this trial run hopes the digital currency will help on cutting down on expenses associated with printing and distributing the current money being used (Uruguay to Launch Digital Currency, â€Å"Not Bitcoin† it Stresses, 2017). Another notable current event that has taken place in Uruguay is the legalization of marijuana. This past†¦show more content†¦Uruguay exported 5.64 billion dollars and imported 8.08 billion dollars in 2016, with the biggest export being Frozen Bovine Meat and rice coming in at the second most export. Crude petroleum was the greatest import for the country and electric generating sets being the second most import. Uruguay’s neighboring country, Brazil, is the country’s number 1 export partner, though it has other countries such as China, Untied States, Argentina, and the Netherlands that it also exports to. Not only is Brazil the number 1 exporter for Uruguay, it also serves as its number import partner accounting for $2.74 billion. Other major importers for the country include Argentina, United States, China, and Germany (OEC-Uruguay). Uruguay’s Beef exports for 2018 are projected to be 420,000 tons cwe (carcass weight equivalent) which is smaller than what was projected in 2017 due to a forecast of a smaller beef supply. This past June, Uruguay had a total of $762 million of beef exported, of the total exported, China received just over half of the total shipments and is expected to be Uruguay’s main market for beef export again in 2018. Along with China, the EU and the Uni ted States are Uruguay’s other top trading partners. The majority of exports that Uruguay sends to the United States is chemical lean trimmings and the export relationship between is predicted to stay stable. The free on board prices thatShow MoreRelatedWhat is Bitcoin? Is it the Cash of the Future?1387 Words   |  6 PagesBitcoin is a digital currency, similar to cash due to the fact it is instant, however, is not managed or controlled by a central government or organization. Instead, the network is run on thousands of independent user’s computers. None of these computers have more control over the network than any other computer. The network that Bitcoin was founded upon is based on 40 years of research in cryptography and over 20 years of research in cryptocurrencies; by thousands of researches around the worldRead MoreDigital Currency: What is Bitcoin? Essay1226 Words   |  5 PagesIntroduction: Throughout this Bitcoin: A History; what is bitcoin? 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Selkis obtained a report that is considered to be evidence about MT Gox a company that dominant and well known within the Bitcoin exchange market going bankrupt. The reasonRead MoreEssay On Cloud Mining941 Words   |  4 PagesBest Bitcoin Cloud Mining Review 2018 Cloud mining is a cool activity to engage in to earn extra income and a fun way to obtain cryptocurrencies. You must do due diligence before you sign up to any cloud mining services as there are lots of scam available online. If you desire to do bitcoin mining, get all the information you can to find out the best and most trusted cloud mining sites to engage. Here is our review of the best Bitcoin cloud mining 2018: What is Cloud Mining? Cloud Mining or cloudRead MoreBitcoins1208 Words   |  5 Pagespayments. Bitcoin is a type of alternative currency known as a cryptocurrency and it uses cryptography for security, making it difficult to counterfeit. 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