Barbados Central Bank Should Consider Holding Bitcoin

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Two Barbadian economists have concluded that the country's central bank may want to consider holding a small amount of bitcoin as part of its portfolio of foreign reserves. Mining pools consist of a group of miners who work together to mine Bitcoins or other cryptocurrencies and share rewards to each member on the basis of their contributed hashrate.. Mining pools are created because of the computational power, high energy costs and specialised hardware required to mine these coins, because it can often be too expensive to be handled by a single miner. In order to confirm the bank transfer, you will need to upload a receipt or take a screenshot of your transfer within 1 day from your payment date. If a bank transfer is made but no receipt is uploaded within this period, your order will be cancelled. We will verify and confirm your receipt within 3 working days from the date you upload it. Adding Bitcoin to the reserve portfolio of the Central Bank of Barbados would serve multiple purposes. On the one hand, the addition of Bitcoin would increase volatility, but it would also provide The Central Bank of Nigeria temporarily banned all Nigerian banks from accepting bitcoin and other cryptocurrencies before clarifying its stance. The deputy director of the Central Bank of Nigeria’s Banking and Payments System is quoted as saying , “Central bank cannot control or regulate bitcoin.

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