Crypto Mines Congress

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    • #471780
      • Total Posts: 11,935

      Bitcoin, the first and most notable cryptocurrency, arrived on the scene in 2009. Beginning with a value of zero dollars per coin, Bitcoin currently sits at a value of more than $43,000 per coin with a peak of over $64,000 as recently as November 2021.

      Every cryptocurrency is based on a blockchain, a technology that verifies transactions and logs them in a digital ledger. While individuals can buy and sell crypto like they would shares of a company on the stock market, blockchain mining is the process by which such transactions are verified. If a miner is the first to verify a transaction, they are rewarded for their work with a coin.

      This work is energy-intensive and requires high-powered computers that compete in a race to be the first to verify transactions. The biggest miners in the business can fill entire warehouses with such computers running for the sole purpose of blockchain mining.

      Today there are hundreds of cryptocurrencies, including Ethereum, Tether, and Cardano, composing a market worth over $3 trillion. Cryptocurrencies are ostensibly an alternative to government-issued currencies like the U.S. Dollar, but the extreme volatility of crypto means they are highly vulnerable to price manipulation via “pump and dump” schemes.

      Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

    • #471883
      • Total Posts: 1,517

      has no credibility with me.

      Destruction is easy; creation is hard, but more interesting.

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