and a growing number of coins are in circulation in that market capitalization is currently about one hundred seventy billion euros. and that number is growing and so are those security concerns for crypto currency holders. news of hacks every few weeks and whole countries are now creating their own digital currencies take venezuela and the patriot it was designed by the country s president nicolas maduro to get around the latest u.s. sanctions put in place by this guy at the moment a crypto currencies success depends a lot on how easily it can be converted into standard currencies whatever the case traditional lenders and central bankers are increasingly worried about their relevance in the digital future. the bank for international settlements in basel is the bank for central banks it
and the us is booming last year volume grew to a total of over one hundred seventy billion euros with both sides exporting more to each other. increased u.s. import tariffs on steel and aluminum won t make much of a difference to them in particular because germany doesn t sell that much steel and i mean him to the us. global exports from german steel and alimony and produces were valued at over twenty three billion euros last year but only a tiny proportion of that went to the u.s. one point four billion euros that spends six percent. and they re also very specialized products and types of steel which aren t even made in the u.s. a lot of u.s. companies are dependent on importing these metals to make their products that means in the end u.s. consumers will wind up paying the increased import tariffs but that prospect still doesn t tell a fee is that the dispute could still escalate. and for more on the subject i m now
wouldn t actually hurt the economy that much still companies year are preparing to see their products become more expensive in the u.s. and consumers there will literally end up paying the price. trade between germany and the us is booming last year volume grew to a total of over one hundred seventy billion euros with both sides exporting more to each other. increased u.s. import tariffs on steel and alimony and won t make much of a difference to that either in particular because germany doesn t sell that much steel and aluminum to the us. global exports from german steel and alimony and produces were valued at over twenty three billion euros last year but only a tiny proportion of that went to the u.s. one point four billion euros that specially six percent. and they re also very specialized products and alloys types of steel which aren t even made in the u.s.
a transfer of two hundred fifty euros twenty eight euros more expensive whereas crypto currency is transferred wallet to wallet and incurs almost no extra costs. there s no bank involved no state no central bank and no privacy concerns. crypto currency isn t logged in any central location every transaction is replicated on millions of computers and recorded in a block chain that can be accessed by all users but the transactions are anonymous that means kitty could be buying drugs or weapons without the police knowing that s been damaging to crypto currencies image their own security concerns in aug twenty sixth hackers stole fifty eight million euros worth of bitcoins causing the price to plunge twenty percent there are now almost two thousand crypto currencies and a growing number of coins are in circulation their market capitalization is currently about one hundred seventy billion euros.