Hello Delegates,
In order to fully understand the topic of cryptocurrency, I suggest you guys to read the following article:
http://www.businessinsider.com/how-to-mine-cryptocurrency-make-bitcoin-without-knowing-anything-2018-2/#before-anything-you-have-to-make-sure-you-have-the-right-gear-1
It is a short passage on how to mine cryptocurrency. I hope this article will give you general ideas about what the cryptocurrency is and hope you enjoy it!
See you at the conference!
Zishen Liu
This article was useful for understanding the concept of cryptocurrencies, which is considerably different from the system we use everyday. As far as where Germany stands on this issue, Germany has and will continue to support all forms of cryptocurrencies. Germany allows their citizens to invest their money in cryptocurrencies and make money through mining as mentioned in this article. As such Germany does tax their citizens for the money they make from their investments or from mining. By having everything public, like in cryptocurrencies many of the fraud problems we experience today may be solved. However, the use of cryptocurrencies does give the average citizen more freedom. This freedom presented with the use of cryptocurrencies brings up another point of interest that Germany the delegation of Germany believes could relate to our Black Market topic. By giving citizens the freedom that comes with cryptocurrencies, there is a greater possibility that the Black Market will be allowed to become casual. The Silk Road is an exact incidence where this occurred. Drugs were bought and sold with Bitcoin and then shipped and received the same way we buy and sell items with Amazon. It created a vast drug network that literally spanned all over the world. While Silk Road was shut down, other sites that are very similar exist today. Considering this, we hope to see a related discussion possibly mentioned in committee.
ReplyDeleteThank you for your time and consideration.
-The Delegation of Germany
It is very interesting to understand the process that comes with mining cryptocurrencies. Currently, Botswana has not released any procedures on bitcoin mining or the use of blockchain technology. The Bank of Botswana (BoB) has remained silent on any future regulations and has stated that it has no intention or regulating or studying cryptocurrencies in general. Although Botswana’s Bitcoin rate is not as sizable as the economies of Kenya, Nigeria, and South Africa, there has been a steady increase in rates for a long time. Although there is currently no bitcoin exchange in Botswana, the mining process has caught the eye of many of the general public through Facebook and Whatsapp groups. As the future of bitcoin and cryptocurriencies continues to expand throughout the international community, Botswana looks forward to creating new innovative solutions.
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