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And anyway, bitcoin is not, as is commonly believed, a good vehicle for money laundering, extorsion or terrorism financing, since it is both traceable and transparent – as a spate of recent arrests can attest.How Cryptocoin Mining WorksTo lower the costs, bitcoin miners have set up in places like Iceland where geothermal energy is cheap and cooling Arctic air is free. Bitcoin miners are known to use hydroelectric power in Tibet, Quebec, Washington (state), and Austria to reduce electricity...