Trade cryptocurrency
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Moons have a limited supply of 250,000,000 – that of which 11 rounds have been distributed already. Just think that in the 1st distribution, people were making upwards of 7 Moons per karma. Now, we’re making a fraction of that. How many will we be receiving by the 40th round? I couldn’t guess, but maybe I’ll be in 69th place by that point – heh.
Step 2: Start small and easy. Passive investing in the ‘blue chip’ coins like BTC and ETH are good to go. This is also called DCA (dollar-cost averaging) and because of the volatility of crypto, you either average up or down. $50-100/month is a great start here! You can also diversify your portfolio in other investments like ETFs, bonds and the like. You can continue to allocate more once you have a higher earning power. Can be more, it is subjective to one’s life at the moment (I have house renovation payments coming up).
What is cryptocurrency mining
You can think of a block as a page of the blockchain ledger, in which several transactions are recorded (along with other data). More specifically, a mining node is responsible for collecting unconfirmed transactions from the memory pool and assembling them into a candidate block.
The profitability of crypto mining depends on several factors. One of them is changes in cryptocurrency prices. When cryptocurrency prices increase, the fiat value of mining rewards also increases. Conversely, profitability can decline along with decreasing prices.
To summarize, the ledger records the creation and movement of coins in the blockchain. Mining is validating new blocks and gaining access to the coins within. Interestingly enough, since the blockchain has to be finite, it also means that most cryptocurrencies have a hard limit to how many can exist: Bitcoin for example has a cap of 21 million.
The rewards for Bitcoin mining are cut in half every four years. When first mined in 2009, one block would earn you 50 BTC. In 2012, this was halved to 25 BTC. By 2016, this was halved again to 12.5 BTC. On May 11, 2020, the reward was halved again to 6.25 BTC. The reward is predicted to halve again in April 2024 to 3.125 BTC.
While it is possible to make money mining cryptocurrency, it requires careful consideration, risk management, and research. It also involves investments and risks, such as hardware costs, cryptocurrency price volatility, and cryptocurrency protocol changes. To mitigate these risks, miners often engage in risk management practices and assess the potential costs and benefits of mining before starting.
Cryptocurrency news today
Bitcoin’s price saw a 3% uptick, climbing to just shy of $30,000 in response to a plunge in global long-dated government bond yields. This fall in yields was triggered by China’s far weaker than anticipated trade numbers for July. The U.S. 10-year Treasury yield tumbled below the 4% mark. These macroeconomic shifts have seemingly buoyed the crypto market, with other notable cryptocurrencies like Solana (SOL), Toncoin (TON), and Chainlink (LINK) registering gains of over 4% at the time of writing.
Bitcoin was deemed a safe asset regardless of the outcome of the election — it is not considered a security, even by the Securities and Exchange Commission, and Trump has made big overtures about bitcoin like entertaining the idea of a strategic national bitcoin reserve and speaking about the need to keep all bitcoin mined in America.
The 2024 elections in the US, Asia, Europe and Africa are poised to influence the global regulatory framework for Bitcoin and crypto. Follow CoinDesk for essential updates and expert analysis to see what’s at stake.
Smaller coins saw bigger moves as investors continued to digest the implications of a second term for President-elect Donald Trump. The payments coin XRP surged 11%. The decentralized finance token tied to Cardano rocketed 40%. Memecoins dogecoin and Shiba Inu coin soared 17% and 31%, respectively.
