10 BOLD CRYPTOCURRENCIES FOR THE FUTURE- PART2
6. CRYPTO MINING WITH NO POWER CONSUMPTION
Currently, Ethereum mining requires a lot of power, the amount of power consumed can easily go into TW/hashes which is a lot. Some miners have also switched to renewable sources of energy for better profits and lesser environmental impact.
Large miners in their mining farms use ASIC Miners which are designed for only one purpose which is mining, whereas small miners use graphics cards made by other companies.
Mining is basically a race between computers to compete against one another to solve a complex mathematical problem, the one who does it first gets rewarded in the form of small pieces of Bitcoin or Ethereum or the coin you’re mining.
Ethereum 2.0 is all set to change that as it will be using 99% less energy than the previous version. Some other cryptocurrencies are also being developed by keeping this in mind.
Recently Elon Musk complained about the energy consumption of mining these cryptocurrencies and surely to combat this theory Ethereum 2.0 would be a revolutionary product in its field and maybe revolutionize the way we see digital money.
Pi is a new digital currency being developed by a group of Stanford PhDs. For a limited time, you can join the beta to…
Cryptos like pi can be mined from your mobile phone itself. It is a revolutionary product that is giving equal opportunity to everyone regardless of their mining power or sophistication. As a matter of fact, you can start mining today itself by installing the pi app and using the below code to get started.
As a matter of fact, without any reference code you cannot start mining pi coins, so here’s a code for you:-
1π! Pi is a new digital currency developed by Stanford PhDs, with over 21 million members worldwide. To claim your Pi, follow this link:-
https://minepi.com/sanujraj1 and use my username (sanujraj1) as your invitation code.
7. ELON MUSK STARTING HIS OWN CRYPTO
It is very likely Musk would be starting his own crypto because he is one of the billionaires who believe in the power of cryptocurrencies. He in his own companies has a deep involvement in technology.
Many people believe in his thinking and workings of and some have even regarded him as one of the greatest minds that would take us to Mars. I believe if he starts his own crypto many people and I mean at least his true believers would surely jump on to the opportunity to get rich very quick but if Elon Musk is doing it I hope it will be another revolutionary product which even the legendary investors like Warren Buffett and Charlie Munger would also be interested to invest in.
As a matter of fact, many cryptocurrencies have been started in the name of Elon musk in order to gain more attraction by using his name directly in the naming scheme.
Recently in a tweet, he gave a name for his cryptocurrency if it was ever to be made and sure enough someone was eager to grab that opportunity to make one on his behalf. That cryptocurrency is called Elongate.
8. BITCOIN SURPASSING MARKET CAP. OF GOLD
Currently, the market cap of gold is around $21 trillion and bitcoin’s market cap touched $1 trillion in the high of 2021 which raises only one question, will there be a point in the future when bitcoin would be worth more than gold and be considered a mainstream store of wealth?
Gold is a very unusual noble element as it’s the last element in the periodic table hence it does not react with anything else because the octate of its electron is full so it does not need to. That’s why it is chosen as a store of money in the first place by the world. In the early days when gold was first seen they were mesmerized by its shiny nature.
Surely bitcoin has a long way to go if it wants to beat gold as a store of value. On the contrary, it has come a long way to be compared with it. So keeping in mind the future is digital I hope bitcoin is able to beat the gold and do what no element or substance came close to doing it.
9. CENTRAL BANKS STARTING THEIR OWN CRYPTOCURRENCIES
This would go against the basis of cryptocurrency as it was made to be decentralized and an entity that was untracked but banks would surely want to do just that and they are also starting to launch their electronic currencies another is if they would introduce it to the currency that would monitor its online transactions.
Banks are very unhappy with the way cryptocurrencies work but they have no choice to support them because there is no way any government entity can ban it because it runs on the distributed ledger which needs all the computers in the network to be accessed at once to be done something fishy with it.
So the possible solution banks came up with is the possibility of the start of new generations of cryptocurrencies that can be tracked by these banks and as a result, it violates the very basic concept of the decentralized nature and distributed ledger of crypto.
Let’s see what happens when these kinds of cryptos are launched for the people.
10. ANOTHER DEADLY CRASH OF 90%
Nowadays it seems like an inevitable thing but it can surely happen only if something big takes place which shakes the crypto world otherwise, it is simply not possible because a lot of people’s money is invested.
5 SOLID REASONS WHY CRYPTOCURRENCIES AREN’T THE FUTURE
The volatility is a major factor in any market of financial dependencies. In the stock market, the volatility is…
Cryptocurrencies generally have a minor downtrend just before the weekends because the financially illiterate people in order to escape the reality of their life trying to enjoy the weekends with the money gained from these cryptos. Never try to kill your investment for short-term pleasure it will only result in the devastation of your future self.
THE CRASH OF CRYPTOS
In the middle of 2021, the crypto market made people unimaginable gains and made billions for the people who took their…
Prices crash because people don’t have faith in these coins and also they don’t have a huge history behind them. Whenever a piece of fake news surfaces people take out the money from these coins cashing out with a profit and hence bringing the prices down along with it.