What I Need To Know About Cryptocurrency – You may have seen the recent headlines about the declining value of many cryptocurrencies this summer. Is this a danger sign for this so-called “revolution”?

SCRANTON, Pa. -Cities in northeastern and central Pennsylvania were built on the mining industry, which they call “black gold.”

What I Need To Know About Cryptocurrency

What I Need To Know About Cryptocurrency

Now a new breed of miners is emerging in our region, burning electricity and eating what some believe is our future.

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“Everybody says, ‘Oh, we’re afraid of it, we’re afraid of it.’ But unfortunately, it’s coming a lot sooner than you think,” said Stacey Toy of NFT Drop LLC.

They are passed from one person to another on the Internet, and each transaction is ultimately recorded in a public digital ledger that anyone can see.

The miners of this world ensure the accuracy of the ledger by constantly checking it.

Computers are doing all the work, entrepreneurs like Toy and her partner Gil Lauero are making money from it, and they’re not alone.

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The map shows miners in the Scranton area mining just one cryptocurrency, helium, at work in a warehouse along North Washington Street.

“They are looking for places where real estate is cheap, where electricity costs are low. If you compare the price of Manhattan or Long Island with Pennsylvania, there is no doubt that Pennsylvania is much cheaper,” he said.

Mining isn’t the only way entrepreneurs can cash in on the cryptocurrency craze. You can also earn by investing or in the case of Eric Grill, helping others invest their money in cryptocurrencies.

What I Need To Know About Cryptocurrency

“He sees money being printed, and so traditionally they are looking for alternatives, like gold. It is creating a way, a bridge between the old legacy systems and the new financial systems that we will all use in a few years,” said Greer. .

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You can buy cryptocurrencies from any computer, but Greer said some investors prefer the familiarity of ATMs.

Stacy: “When you said you had a wallet, I thought you meant a physical wallet. I went to get the wallet.”

“What you have is like having a dollar in your pocket, except you can send them anywhere in the world without permission,” Greer said.

He believes that cryptocurrencies can change our current financial system. His Lehigh County office is advising the Venezuelan government on the fiat currency Bitcoin, and is working with a team of lawmakers in Mexico hoping to do the same there.

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“Our systems are very old and the way we process orders, the way our financial systems work, hasn’t been updated in a long time,” Greer said.

It’s not just entrepreneurs who want to make money from cryptocurrencies. There are several large local companies that invest and mine Bitcoin and other currencies. 11 Things you need to know about cryptocurrencies Before investing in cryptocurrencies, you must first understand the technology and the use cases.

Over the past few weeks, as Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, hit all-time highs, you’ve probably heard everyone talking about investing in cryptocurrencies for the first time. But have you ever really wondered what cryptocurrencies are?

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