Toxy
Newbie
Joined: 19 Jan 2021
Posts: 6
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The creation of the world's first peer-to-peer cryptocurrency was carried out by an unknown group of programmers under the pseudonym Satoshi Nakamoto. At that time, even the concept of electronic money did not exist. Bitcoin did not have huge popularity when it appeared. Everyone was very skeptical about virtual coins. To get bitcoin, you need to pay its cost, at the rate of real money, or perform a series of mathematical operations. Mining provides excellent income. Any expenses for the purchase of special equipment for a mining farm pay off almost instantly.
If you unite in a pool, having collected the maximum number of like-minded people who are able to share network capacities, then the work will go smoothly. To become a professional miner to receive cryptocurrency, you need to calculate the amount of equipment for the smooth operation of the mining farm. The help of specialists will be required to prepare the equipment and start the continuous process.
Peer-to-peer Bitcoin is its main advantage, since there is no control and dependence on one system. Unlike any fiat currency, it is not controlled by banks or other financial institutions. Cryptocurrencies are characterized by a complete lack of tracking during a transaction. The main power of cryptocurrency control is mining, in which each participant receives parts of a virtual asset as a reward for generating blocks, from which chains are then made up.
The developers came up with a special protection against a decrease in the cost of the cryptocurrency received from mining. The reward is halved every four years. Halving increases the interest in mining. With the help of halving, the deficit of cryptocurrencies does not decrease, remaining at a constantly high level, guaranteeing a high level of profitability. This financial instrument is well insured against inflation, so during a crisis it is the safest haven for storing capital.
The actual birth of bitcoin was caused by the severe crisis of 2008. The developers solved the problem of creating electronic assets that could be controlled only by their owners, and not by the Central Bank or other regulators of cash flows. The pandemic, which brought down the economies of many countries in 2020, has forced many to be more careful about investing in cryptocoins. Moreover, interest in virtual assets is growing not only among business representatives, but also among ordinary people who want to keep their accumulated funds. |
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