On March 5, 2024, Bitcoin set a new all-time high of $68.7 thousand. In an episode of the podcast “What Has Changed?” together with experts, we discussed why blockchain is safe and how to look for work in the field of digital money
Guests of the issue:
- Sergey Romantsev – podcast host, tech blogger,
- Sergey Khitrov is the founder of the world’s largest listing agency, Listing. Help, the blockchain forum Blockchain Life, and the investment fund Jets Capital.
- Sergey Romanov is the creator of Red Company, the TON blockchain ecosystem .
Topics of conversation:
1:25 – in simple words: how money gets into the computer
4:39 – Blockchain – a security standard?
8:21 — cryptocurrency as a national currency: why many are afraid of it
11:59 — how crypto transactions are carried out
19:24 – not only mining: how else to earn cryptocurrency
29:00 — is it worth buying cryptocurrency now?
Cryptocurrency and blockchain: what is it?
Sergey Khitrov is sure that cryptocurrency is an evolution of ordinary money; it should be treated as another way to pay for purchases or earn money. Sergey Romanov added that the distinctive feature of cryptocurrency is that it is stored in the blockchain – a decentralized system, the chains of which are scattered throughout the world. To conduct transactions with such currency, you just need to connect to your wallet from any device with Internet access.
Blockchain is a fairly secure system, says Romanov. It becomes vulnerable only if the code is poorly written – then hackers have more opportunities to hack. The safest way to store digital money, the expert explains, is a wallet protected by a code of 12 or 24 random words.
How to mine cryptocurrency and how to make money on it
Khitrov said that mining takes only 3% of cryptocurrency earnings. In general, there are two ways to get digital money.
- Proof-of-Work – mining using the computing power of a computer or other equipment.
- Proof-of-Stake – earnings on a percentage of the funds in the account.
Khitrov added that the cryptocurrency sector should be considered as a potential place of work. Now, according to experts, there are already more than a hundred thousand cryptocurrencies in the world: all of these are separate projects that need both technical and humanitarian specialists.
Why cryptocurrency is viewed with distrust
Experts explained that states are wary of cryptocurrency because they need to control cash flow, which allows them to calculate taxes to replenish the state treasury. The decentralized organization of the blockchain does not allow this. Nevertheless, Khitrov says, El Salvador, which relatively recently made cryptocurrency public money, managed to increase the number of tourists and earn money from investments in this area.
