Bitcoin Plunge Erases $100 Billion In 24 Hours–Here’s How Long The ‘Bloodbath’ Could Last | Forbes

March 26, 2021March 25, 2021 ~ knjohn ~ Leave a comment

960x0 Despite still-booming institutional adoption, the price of the world’s largest cryptocurrency is tanking Thursday morning as analysts warn of massive volatility on the horizon, pushing bitcoin’s losses to nearly 15% since an all-time high on March 13.

KEY FACTS

As of 11 a.m. EDT, the price of bitcoin has tanked 9.4% over the past 24 hours, pushing its market capitalization down to about $970 billion, from nearly $1.1 trillion at the same time Wednesday, according to crypto-data website CoinMarketCap.

5 Tips for Beginning Bitcoin Investors | The Startup Magazine

October 21, 2020October 20, 2020 ~ knjohn ~ Leave a comment

You’ve heard about that teenager or grandmother or your brother-in-law’s co-worker’s cousin who invested a little bit of money in bitcoin and struck it rich and you want part of the action. Investing in a cryptocurrency like bitcoin in 2020 makes a lot of sense. The stock market is saturated with day-traders and new investors and it seems like there isn’t much opportunity to turn a profit, especially a big, quick profit. Bitcoin investing is the new frontier, the Wild West, a place where the playing field is relatively even and anyone can make some money.

If you think you would like to invest in bitcoin, there are a few points you should know before you take the plunge. Armed with this knowledge, some seed money, and a little bit of luck, you can be the next bitcoin success story. To help you as you get going with your investments, here are five tips for beginning bitcoin investors.

Bitcoin ‘halving’: What does the much-hyped event mean? | BBC News

May 13, 2020May 12, 2020 ~ knjohn ~ Leave a comment

Bitcoin has just gone through a much-hyped adjustment that reduced the rate at which new coins are created.

The world’s biggest cryptocurrency’s so-called “halving” happens roughly every four years.

The digital currency relies on what are known as “miners”, who run software that races to solve complex maths puzzles in return for Bitcoins.

Monday’s halving event means that the reward for unlocking a “block” has been cut from 12.5 new coins to 6.25.

The Real Reason Bitcoin, Ethereum, Ripple’s XRP, And Litecoin Suddenly Rocketed? | Forbes

June 25, 2019June 23, 2019 ~ knjohn ~ Leave a comment

Bitcoin, ethereum, Ripple’s XRP, and litecoin suddenly rocketed this weekend, with the largest cryptocurrency by market capitalization, bitcoin, shooting past the psychological $10,000 per bitcoin mark to highs of $11,200 on the Luxembourg-based Bitstamp exchange.

Ethereum, Ripple’s XRP, and litecoin all made double-digit gains, meanwhile, with the sudden push higher causing many to recall the great bitcoin and cryptocurrency bull run of late 2017 which saw the bitcoin price go from $10,000 per bitcoin to almost $20,000 in under 20 days.

Bitcoin could change the game for foreign aid | CNN

May 24, 2019May 23, 2019 ~ knjohn ~ Leave a comment

Today’s humanitarian aid model is fundamentally broken. Whether you’re a foundation making a donation to a nonprofit abroad, a government distributing aid to another government, or an individual sending emergency funds to family members across borders, your money only gets to where it needs to go after passing through intermediaries. Even in the simplest payment scenario, there’s your bank; a coordination network; and the aid recipient’s bank. But often, there are even more middlemen, with money moving along complex chains of third parties.

Such a system has obvious flaws. One is that each intermediary between you and the person or organization you are trying to help can delay, surveil, censor or steal your funds. In 2012, the UN’s then-secretary general Ban Ki-moon said that “corruption prevented 30% of all development assistance from reaching its final destination.”

Coinstar machines will start selling Bitcoin at the grocery store | TechCrunch

January 18, 2019January 17, 2019 ~ knjohn ~ Leave a comment

You know those machines at the grocery store that transform your gallon jugs worth of change into more usable currency? They’re about to start selling Bitcoin .

To make this impulse shopping dream come true, Coinstar, the company behind those ubiquitous change-counting kiosks, has partnered with Coinme, a startup that operates a small network of cryptocurrency-dispensing ATMs around the country.

Bitcoin keeps plunging — when will it hit bottom? | CNN

November 21, 2018November 20, 2018 ~ knjohn ~ Leave a comment

The recent plunge in the stock market is a cakewalk compared to what’s going on with cryptocurrencies. Bitcoin prices are down more than 15% in just the past week and have plummeted nearly 70% so far this year.

Bitcoin hit a peak above $19,000 in December 2017. Its is now trading at around $4,600.

Shares of companies with ties to the crypto market have plunged lately too, including chipmakers Nvidia (NVDA) and AMD (AMD), which make graphics cards used by bitcoin miners. Online retailer turned blockchain investor Overstock (OSTK) and digital payments firm Square (SQ) are also sharply lower. Each stock is down between 15% and 35% in just the past month.

So it seems safe to say that the bitcoin bubble has burst. Should investors start to dip their toe back in to bitcoin and other crypyto-related assets?

Bad News Day for Bitcoin: It’s Destroying the World and Bank Accounts | Entrepreneur

November 8, 2018November 7, 2018 ~ knjohn ~ Leave a comment

Even though cryptocurrencies technically have no physical presence, they really do a make a impact on the environment — and even could affect the amount of money people have in their accounts.

From January 2016 to June 2018, the Oak Ridge Institute for Science and Education in Cincinnati monitored how much energy it took to mine Bitcoin, Ethereum, Litecoin and Monero on a daily basis.

Crypto Market is Crashing Hard Again, Here’s Why | Mashable

September 6, 2018 ~ knjohn ~ Leave a comment

The cryptocurrency market is bleeding for the second consecutive day, with prices of most popular coins down double digits in the last 24 hours.

Bitcoin, the largest cryptocurrency by market cap, is down 12.4% in this period according to CoinMarketCap and is currently trading at $6,426. Other coins are having it even worse: Ethereum is down 20.5%, Ripple is down 13.3%, Bitcoin Cash is down 20.1% and EOS is down 22.3%.

For Ethereum, the second largest coin by market cap, this is the low point of the year. The cryptocurrency hasn’t been priced this low since August 2017.

Bitcoin price passes $7K bringing all 100 top coins up with it | TechCrunch

July 18, 2018July 17, 2018 ~ knjohn ~ Leave a comment

Bitcoin is moving up, and it’s taking 99 of its best friends along for the ride. In the last 24 hours, every one of the top 100 coins by market cap was in the green, with 84 of them posting gains of over 5 percent. At the time of writing, Bitcoin was sitting at $7,310, up 14 percent in the last 7 days and up almost 10 percent in the last 24 hours.