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Who backs cryptocurrency	An example of a gross amount of electronic waste associated with Bitcoin mining operations in the US is a facility that located in Dalton, Georgia which is consuming nearly the same amount of electricity as the combined power usage of 97, households in its vicinity. For example, each dollar bill is backstopped by the U. The Wall Street Journal. Archived from the original on 2 April National Conference of State Legislatures. Cryptocurrencies: looking beyond the hype" PDF.
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The government backs traditional currency, while cryptocurrency has no government, bank, or financial institution controls. While you can hold. Backing a currency is done by. Cryptocurrencies usually aren't backed by any central authority in the same fashion as fiat currencies or another government-sanctioned medium of exchange.