Sirwin
Sirwin

AMA session with G. (Ask Me Anything)


Question 1: What are the miners, what are they doing and why?

Answer: The miners' role is to secure the network, using ProofOfWork (POW) to validate transactions. A group of transactions it is called mining block, and for each validated block they got rewarded with some fix amount of cryptocurrency. 

Question 2: If the total value of all cryptocurrencies was a country GDP, what will be the rank of it?

Answer: If Crypto-Land was a country, it will be ranked #49 between Irak and Greece. At the height of the cryptocurrency value, it was number 21, right after Switzerland. 

Source: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

Question 3: How come that everyone can create a cryptocurrency, given the tools (some of them even free) with as much as 20-30$ expenses, but they will never be like Bitcoin?

Answer: Good question. Everyone can do it, as creating coins is easy, but creating value for those coins is really hard. 

Question 4: Is crypto regulation very different from traditional markets? Why?

Answer: Cryptocurrencies are more transparent, as public distributed ledgers record all the activity, but the regulation was lacking at the beginning, even if it is catching up lately. Anyway, the regulations are very different from one country to another, always check your local regulations (the legal aspect is very complex when we talk about cryptocurrencies, and we are developing the regulations right in this moment, in the same time with crypto-market expansion). 

This time i had only 4 questions, but i will look forward for the next time, when hopefully will be more. Twitter: @georgemihalac12

Have a nice weekend! Stay safe!

G.

 

My crypto-related links  (check ratings - 1 to 5 stars based on my personal experience)

 

Exchanges

***** Binance( good for staking/savings ) - link here

***** Kucoin( good for staking/savings ) - link here

***** Coinbase( ideal for beginners )- link here  

 

Investments

**** BlockFi (decent interest rates, but less choices than Celsius) - link here

***** Celsius.network (good rates of interests and monthly codes for free crypto, 1235256530 => my referral for $10 bonus  ) - link here

**** Coinbundle (investing in crypto bundles) - link here  

**** Stakecube (staking, masternodes and very easy to claim faucets for 28 coins/tokens) - link here

 

Wallets for multiple cryptocurrencies

***** Coinpot - link here (microwallet for all Moon faucets, Bitfun and Bonusbitcoin)

***** Atomic wallet - link here (microwallet for Publish0x DAI, BAT and Loopring)

***** Sphere  wallet (for Horizen, combined with the faucet for extra bonus) - link here  

 

Free crypto (faucets and more)

**** Bitfun( 3 min countdown - automatically deposit to Coinpot wallet ) - link here

*** Bonusbitcoin( 15 min countdown - automatically deposit to Coinpot wallet ) - link here

**** Moon Bitcoin ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here

***** Horizen faucet ( 20 hours countdown - automatically deposit to Sphere wallet ) - link here

*** Tezos  faucet ( 7 days countdown - automatically deposit to Coinbase or Binance wallet ) - link here

** Tron and other crypto faucet (24 hours countdown) - link here  

*** EarnCrypto.com - paid for survey, videos and typing - link here

 

Others

***** Publish0x  blog (Free BAT, DAI and Loopring for reading/writing - can combine with Atomic wallet) - link here

***** Brave  browser (Free BAT for using it, based on paid ads, very good AdBlocker and high speed) - link here    

 

 

Disclaimer: This text also can be re-published on my personal blogs, such as this one.

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Heruvim78
Heruvim78

I am a writer, gamer, healthcare professional. I am.


Crypto - I tested it, so you didn't need to...
Crypto - I tested it, so you didn't need to...

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