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Mayor Eric Adams can officially cross his goal for New York City to have its own cryptocurrency off his list of goals. AfroTech previously shared that Adams had a vision of transforming New York City into a crypto hub, similar to Miami’s MiamiCoin. Now, Markets Insider reports that New York City is getting its own digital coin, NYCCoin. On Nov. 10, NYCCoin mining will be activated by CityCoins, a non-profit and open-source protocol that allows investors to support their cities by expanding their crypto treasury while earning for themselves, according to the outlet. Anyone can compete to mine NYCCoin and when digital coins are purchased or mined, 30 percent of its reward goes to the city. NYCCoin mining is officially ready to be activated! Once 20 miners interact with the contract, the mining process will activate. No mining will occur for 150 blocks (~24 hours). After that, all miners will be able to start mining NYCCoin! https://t.co/6Zf7u6nIBB — CityCoins (@mineCityCoins) November...
Nov 10, 2021
A recent article featured in The New York Times talked about so-called “junk crypto.” In the story, David Segal detailed how he created his own cryptocurrency in the hopes of cashing in on the craze. But his coin, essentially, turned out to be absolutely worthless. “One day in May, I created my own cryptocurrency,” he explained in the piece. “I did it on a Zoom call with an excitable 36-year-old in Taiwan, Dan Arreola, who had posted a tutorial on YouTube about how to make, and promote, a ‘scam coin.’ It has more than 240,000 views. After a few minutes of tweaking, and about $300 in fees, I pressed a button. Instantly, 21 million coins were minted.” Whether you call them “scam coins,” “hype coins” or “junk crypto”– the end result is all the same. When it’s all said and done, you have nothing but a bunch of worthless cryptocurrency that can’t even get you a burrito off the Taco Bell dollar menu. So, why do they still prevail in the crypto market? Why is it so easy to buy this...
Oct 11, 2021
Nine-year-old Aanya Thakur and her 14-year-old brother Ishaan are not your typical siblings. It became clear this past summer in Frisco, TX when the siblings wanted to learn how to mine digital coins while earning money. Little did they know their curiosity would lead to earning over $30,000 per month by tapping into cryptocurrencies. How you may ask? The duo mined bitcoin — the world’s leading cryptocurrency — ether and ravencoin, CNBC reports. “Crypto mining is just like mining for gold or diamonds,” Ishaan said in an interview with CNBC. “Instead of using shovels, you mine with computers. Instead of finding a piece of gold or a diamond in the mine, you find a cryptocurrency.”
Sep 29, 2021