I am curious to know your thoughts on Cryptocurrency. I have started researching it by watching YouTube videos and reading news articles. It is interesting to see that there are already 9 billionaires who have made their fortune through crypto, as listed on Forbes - https://www.forbes.com/sites/johnhyatt/2021/04/06/the-cryptocurrency-tycoons-on-forbes-2021-billionaires-list/.
The key point to recognize is that for someone to make a significant profit, many others must incur substantial losses - it's simply the law of the market. The wealthy investors inject millions into the market to drive it up, enticing others to invest, only to jump ship before the market takes a downturn, leaving scores of invested individuals to contemplate how to recoup their funds.
Attempting to leap onboard a rapidly advancing train and snag free cash is an improbable occurrence. It is more beneficial to use your talents and expertise to your advantage, much like a fish excels in water. If you are not yet proficient in something, it would be wise to invest in yourself to gain the necessary knowledge and skills.
Trying to amass wealth by stepping into a cage with business sharks or tigers is a surefire path to further financial ruin. (This is just my opinion, of course.)
Recently, more and more financial experts - investors are offering to pay attention to cryptocurrency, although earlier they were more careful with this direction of investment. The point seems to be in the decreasing stability in the world as a whole (the war in Ukraine, etc.). Cryptocurrency seems to have entered our lives for a long time, and this fact cannot be denied. 8)
You know, it's probably time... The time of the cryptocurrency, the tipping point when the currency will depreciate (but this may happen in the near future). I agree with all the above opinions, cryptocurrencies should be kept in mind in your head, because cryptocurrency will greatly affect the situation in the external economy and in society itself. ;)
I think that in the next 10 years, cryptocurrency will be recognized as a unit of account in many countries. They do the right thing when they invest money in cryptocurrency. After a certain time, people will earn millions.
Over the past day, Ethereum Classic cryptocurrency has experienced a 29% price increase, with the coin now valued at $40.7. According to Coin Gecko, the altcoin's market capitalization currently exceeds $5.6 billion, and its daily trading volumes are around $2.6 billion.
Despite the hard fork (separation) of the original Ethereum Classic blockchain, miners continue to connect and extract the second largest cryptocurrency by capitalization. The Ethereum Classic network's hashrate reached an all-time high of 48.93 terahashes per second (TH/s), according to observations made by 2miners.com on Monday.
Miners are swiftly moving towards Ethereum Classic due to the Bellatrix update scheduled for launch today on the Ethereum network. This update marks the first stage in Ethereum's transition from the Proof-of-Work algorithm to Proof-of-Stake, ultimately bringing ETH mining to a halt.
What do I think of cryptocurrency?
- It's bullshit. It's not serious.
I was mining bitcoin in the fall of 2013. On a new, top-of-the-line laptop. It was easy then.
It died a little in May 2014, I filled it up with some nonsense, and it fell on the floor.
A little later I restored it, replacing the motherboard, keyboard and other little things. I gave up mining.
Last year I accidentally found an old flash drive. It had an account on it and a few bitcoins in the account.
To say that it was a pleasure, is nothing to say. :o :) :)
And so, - yes, cryptocurrency is some kind of unhealthy crap. :)
Good luck to all of you! Smile! :)
Cryptocurrency and mining is quite an interesting area, and I believe that it has a great future. It will be quite difficult for an ordinary person to make money on this, because the price of crypto coins is constantly changing and it is far from a fact that in six months or a year it will be higher. You need to figure it out before investing, whoever has the time and opportunities can try mining
After the cryptocurrency has switched from the Proof-of-Work system to the Proof-of-Stake system, it will not be possible to earn it. Now this currency brings income as a regular deposit in a bank, and accordingly, now you can only buy cryptocurrency. But the prices of components have fallen (this pleases).
I see cryptocurrency as a groundbreaking innovation that has the potential to revolutionize the way we conduct financial transactions and interact with value in the digital realm. At its core, cryptocurrency is built on blockchain technology, a decentralized and distributed ledger system that enables secure and transparent peer-to-peer transactions without the need for intermediaries.
One of the key features of cryptocurrency is its cryptographic security, which ensures the integrity and immutability of the transaction data. This is achieved through complex algorithms and cryptographic techniques that validate and record every transaction on the blockchain. As a result, cryptocurrency transactions are resistant to fraud and tampering, providing a new level of trust in digital transactions.
The development of cryptocurrency involves creating and maintaining the underlying blockchain infrastructure, as well as designing and implementing the digital wallets, smart contracts, and decentralized applications that make up the cryptocurrency ecosystem. This often involves working with languages such as Solidity for smart contract development, as well as understanding the intricacies of cryptographic algorithms and consensus mechanisms.
Furthermore, cryptocurrency programming involves addressing scalability, security, and interoperability challenges to ensure seamless and efficient transaction processing across a distributed network of nodes. This requires in-depth knowledge of distributed systems, network protocols, and consensus algorithms to overcome technical hurdles and ensure the reliability and performance of the cryptocurrency network.
I am also keenly aware of the rapid evolution of cryptocurrency technology, including the emergence of new consensus mechanisms, privacy-focused protocols, and interoperability solutions. Staying abreast of these technological advancements is crucial for building robust and secure cryptocurrency systems that can withstand the dynamic and competitive landscape of the digital currency market.