Using vast amounts of computing power, often manifested in private server farms owned by mining collectives that comprise dozens of individuals, miners use highly technical methods to verify the completeness, accuracy, and security of currencies’ blockchains.
“We learned how to build a successful company and the markets and infrastructure around it, but all of this took a long time and I was looking for a new chief for three years,” Vavilov said. Stated.

All the signs, however, were there. Like previous bubbles, people were basing their belief in the cryptocurrency on their emotions, not any intrinsic value. Then there was the FOMO element, which only compounded things. Essentially, bitcoin became an international fever. Random companies were “pivoting to blockchain” for no apparent reason other than that it seemed like a way to create buzz. But when the bubble bursts, FOMO turns into fear of losing, which makes for an especially rapid plunge.
A comprehensive explanation of wavelet methodologies can be found for example in [10, 11, 21]; this section aims to provide an overview based on the presentation in these papers.