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Bitcoin Can Hit $250K in 2020, Reaffirms Tim Draper as Dominance Rises

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Bitcoin Can Hit $250K in 2020, Reaffirms Tim Draper as Dominance Rises

Bitcoin (BTC) passed $7,200 a second time on Dec. 19 as previous bearish moves gave way to a return to higher levels.

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

BTC shows signs of a bullish comeback

Data from Coin360 and Cointelegraph Markets showed BTC/USD holding ground recovered above the $7,000 mark late on Wednesday. At press time, the pair traded at around $7,100 after hitting highs of $7,345, marking 24-hour gains of almost 8%.

Bitcoin 1-day price chart

Bitcoin 1-day price chart. Source: Coin360

With sentiment notoriously volatile this week, Bitcoin’s progress has provided a welcome cause for broader optimism among traders and analysts.

In his latest update to Twitter followers, regular Cointelegraph contributor Michaël van de Poppe weighed the potential for further short-term gains. 

“Earlier today everyone is feared to buy in, given red candles and $3K charts + overall bearish sentiment. Now everyone is rushing to buy back in, as the price is up $750 since the low,” he summarized as the uptick kicked in.

Zooming out, stalwart Bitcoin bulls showed no sign of revising their enthusiastic view of the coming year and beyond. 

In an interview with crypto media network BlockTV, entrepreneur Tim Draper doubled down once again on his prediction that the Bitcoin price would pass $250,000 by 2022. 

More than that, the serial investor and Tezos (XTZ) sponsor said the sky-high levels could appear as soon as the end of 2020 — just half a year after Bitcoin’s block reward halving event in May.

“If you run a technical analysis, it looks like it’ll be something like six months after the halving that we will cross $250,000 per Bitcoin,” he said. 

Draper noted that at current levels, Bitcoin is “where it should be” according to such technical analysis. As Cointelegraph reported, the popular Stock-to-Flow model for Bitcoin price forecasting puts BTC/USD at an average $8,200 before the halving.

Bitcoin dominance rises 2% recent days

Altcoin markets meanwhile reacted favorably to Bitcoin’s gains, with the top twenty by market cap awash with green on Thursday.

Ether (ETH), the largest altcoin by market cap, saw a daily improvement of 2.1%, despite various factors coalescing to produce warnings of fresh selling pressure.

Ether 7-day price chart

Ether 7-day price chart. Source: Coin360

Others behaved similarly, with Cosmos (ATOM) nonetheless leading the pack on 9.1% gains.

The overall cryptocurrency market cap was $190 billion, with Bitcoin’s share at 68.3% — 0.6% higher than the day before. In the past seven days, Bitcoin dominance has increased by over 2%.

Keep track of top crypto markets in real time here

Published at Thu, 19 Dec 2019 14:14:00 +0000

Blockchain

Anthony Pompliano & Kevin O’Leary Square Up In Bitcoin Debate on CNBC

On August 6th CNBC Television uploaded an episode of Squawk Box that included Anthony Pompliano, co-founder and partner at Morgan Creek Digital Assets and Kevin O’Leary, best known to be a Shark on ABC’s Shark Tank.     The conversation doesn’t get interesting until the 2:37 mark when Kevin, also known as Mr. Wonderful chimes … Continued

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On August 6th CNBC Television uploaded an episode of Squawk Box that included Anthony Pompliano, co-founder and partner at Morgan Creek Digital Assets and Kevin O’Leary, best known to be a Shark on ABC’s Shark Tank.

 

The conversation doesn’t get interesting until the 2:37 mark when Kevin, also known as Mr. Wonderful chimes in and asks, ” Help me become a believer okay because I’m a huge skeptic of this. I have my crypto crap wallet, I put a hundred dollars into it two years two months ago at a Harvard Business School class at night. It’s worth $30.62, primarily because all the other crap Etherium, XRP, Bitcoin Cash, Litecoin, Stellar Luminous blah blah blah. What happened to that stuff? If this is really such a great idea, why is there only one Vegas game working?

Anthony Pompliano responds, ” I’ll save you a lot of headache…Bitcoin is the most important and that’s the only one that you should focus on”. Having talked about times of global instability earlier in the interview he adds on, ” It’s actually irresponsible for institutions to not have exposure to this asset, and the reason is their job is to find assets that actually can provide non-correlation to the rest of the markets, especially in times of global instability where there’s likely to be market draw downs.”

You can tell that the opposite effect was taking place and the previous celebrity angel investor on Canada’s Dragon Den’s head was spinning with questions. After discovering 50% of Anthony’s net worth is in Bitcoin, Kevin calls him insane and goes against his investment strategy, and at one point shames him for not following his financial methods.

On Kevin O’Leary’s website, he says “to get rich, you need to get financially literate first.” It’s difficult to argue that quote when the man that said it has a net worth over $400 million in USD, but maybe, just maybe, the literature of finance changed forever with the publication of Bitcoin’s Whitepaper.

“If you don’t believe in Bitcoin, you’re essentially saying you don’t believe in cryptography” – Anthony Pompliano



Mr. Wonderful recently joined the race to lead Canada’s Conservative party, so at some stage in his career, he may run for the prime minister role of Canada. Knowing his stance on Bitcoin, would he be a candidate that can win your vote?

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Disclaimer: CryptoCanucks.com is not intended to provide tax, legal or investment advice, and nothing on CryptoCanucks.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by CryptoCanucks.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

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Source: https://cryptocanucks.com/anthony-pompliano-kevin-oleary-square-up-in-bitcoin-debate-on-cnbc/

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Mining Bitcoin: How to Mine Bitcoin

Introduction to Bitcoin Mining Mid-19th century California gold miners were called “forty-niners” after the year 1849, but this rush actually spanned from 1848-1853; it took five years for a quarter-million people to flood the state in search of “free wealth”. Satoshi Nakamoto first published the white paper on cryptocurrency back in 2008, and Bitcoin was … Continued

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Introduction to Bitcoin Mining

Mid-19th century California gold miners were called “forty-niners” after the year 1849, but this rush actually spanned from 1848-1853; it took five years for a quarter-million people to flood the state in search of “free wealth”. Satoshi Nakamoto first published the white paper on cryptocurrency back in 2008, and Bitcoin was launched in 2009. Today, in 2019, there are at least a million bitcoin miners around the world. A single bitcoin (or “1 BTC”) is worth almost $10,000, give or take a few hundred dollars, and there are around 1,800 new bitcoins mined every day, meaning there’s a whopping $18,000,000 being ‘created’ every day.

Not bad for ten years. No wonder everyone wants to learn how to mine bitcoin.

A Brief History on Money

Cryptocurrency is math that can be used as money.

Money is, fundamentally, an accounting of debt; you owe someone for a good or service, and giving them money erases that debt. Banks are giant ledgers, accounting for every transaction – when you paid for your coffee, this “ledger” sees that you lost $2 and the coffee shop gained $2.

Paper dollar bills do not record this specific transaction – who lost and who gained those $2 – but they act as evidence of a transaction having taken place at some point. In fiat currency, a state is the ultimate arbiter or holder of all the debts – and the one that mints, or makes, the currency in the first place. They account for how much currency they put out, and approximately how much is present now; the only road bump being that they do not know every transaction in between.

In cryptocurrency, no one person or entity controls a central ledger, because this “ledger” is effectively on every computer connected to the network of that currency; everyone has it. Since each unit of the cryptocurrency is composed of math, as opposed to physical substances like paper or gold, this math effectively records every transaction

So Where Does it Come From?

Fiat currencies are “made” (or rather, minted) by states, and accounted for by banks, but these currencies are often directly or indirectly made from precious metals that are mined from the Earth – which is why so many people flooded California in the mid-19th century. Minting is a middle step between the mining and the currency.

Cryptocurrency cuts out that middle step; bitcoin is “minted” and made from BTC mining.

If bitcoin is commercialized math, then mining is the process of solving all its equations. A common, yet accurate, joke explanation is, “imagine if you could solve puzzles, then use those solved puzzles as money”. Bitcoin is that, but on a much larger and astronomically more complex scale; bitcoin mining is both the process of solving puzzles, and the process of verifying other solves puzzles.

That said, these “puzzles” (called “blocks” in BTC mining) are operating on a very complicated scale. BTC mining is basically the process of racing to correctly the correct number out of 115,792,090,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000 possible options – and doing so hundreds, thousands, maybe even millions of times a day. This takes some pretty hefty computing power.

How to Mine Bitcoin

Despite a lot of chatter about bitcoin mining software, it is really a matter of hardware; software is just the most accessible way to access this hardware.

“Winning” or solving – and receiving payout for – is a combination of computational power and a bit of luck. If you accomplish this, you can get about 12.5 bitcoins, though starting in 2020, that will become 6.25. The number of bitcoins you receive for solving a block cuts in half every 210,000 blocks – which is roughly every four years, since the blocks get more and more complicated over time. This will keep going until 21 million bitcoins have been mined, a cap built into the system. There are currently only 3.17 million bitcoin left to be mined.

How to Mine Bitcoin in the Hard(ware) Way

There are two types of “miners” you can buy: application-specific integrated circuit (ASIC) or graphics processing unit (GPU). These are not only very expensive to buy, but they also take up a lot of electricity and require a powerful network connection. This is why mining calculators exist – these are various apps and sites into which you can input details on your miner, your power cost, and your network cost, to figure out how much profit (if any, even) you will turn.

It is usually pretty low, and these days, mining with your own hardware is only really advised for people who already happen to have lots of hardware and great network on hand, and would not need to go out of their way to get those.

That just leaves…

How to Mine Bitcoin With Bitcoin Mining Software

At 12.5 BTC per block, when bitcoins are worth $10,000 each, that’s $1,250,000 on the line every time you are competing with other miners to “guess the right number” first. This takes far more computer power than most people can afford on their own.

As such, the most common way to get in on BTC mining is to join a collective of miners and “rent” the mining tools – known predominantly as cloud mining.

The biggest advantage is that there is a much lower barrier to entry when you cloud mine bitcoins. The biggest disadvantage is that instead of getting the reward all to yourself, you are splitting those bitcoins with other people, and typically a lot of them. Winning a million dollars doesn’t mean as much when you’re splitting it with a million people.

Step 1: Choose Your Wallet

Before you start working for a job, you want to know how you will be getting your pay. By the same token, before you start mining for bitcoins, you should know where you will keep your bitcoins once you earn them.

Online wallets are typically the most convenient, and easiest to use. They are also typically the most efficient for actually using your bitcoins to purchase goods and services, and you will have your bitcoins even if you lose all your devices. That said, this does put you in a similar position with a bank. If the host is experiencing heavy traffic or DDOS attacks, you may not be able to access your funds, and if they are hacked, you can lose your bitcoins entirely.

Hardware wallets are the opposite extreme. As physical objects, are completely offline, and thus cannot be hacked or otherwise remotely attacked. As long as you have your hardware wallet and a device to access it with, you will be able to access your funds. But what you gain in remote security is lost in personal security; if you lose your device or it’s physically stolen from you, you lose your bitcoins.
The middle-ground between these is “software wallets” or “desktop wallets” (though these can also be mobile apps). These are on your local device, so even if exchanges go down or are attacked, you still have your bitcoins, and the only way you can lose them to remote exploitation is if you, the specific individual, are targeted and hacked, which is very unlikely. But, it can still be used to conduct transactions and otherwise go online as necessary. That said, this is also vulnerable to loss if you lose your physical device (i.e. if someone steals your computer).

Step 2: Find Your Cloud

Mining companies are the computing clouds or collectives of miners. While joining such a company might be couched in terms of renting the hardware, another way to look at it might be that you are investing.

The amount you invest, or the rate at which you rent, is known as a “mining package”, which you pick once you join a mining company. You can also invest ahead of time in new technology that will be coming out at a later date. That said, investing in something that doesn’t exist yet is always a heavy risk.

There are many sites in which you can find comparisons between companies, including user ratings and reviews. Be careful with the
reviews – while they can be insightful, many are also full of people attempting to get new ‘recruits’ specifically with referral codes, which will net the refer-er a small bonus or profit.

Step 3: Pick Your Pool

A “pool” is basically the team of miners that you choose to join up with, and contribute your invest or computing power. If you are just starting out mining bitcoins, you should start by joining an “older” (or rather, more established and vouched-for) pool, and perhaps one with lower fees. The payout or profit from these will usually be on the low side, but they are also less risky.

As you get the hang of bitcoin mining and learn how pools work, you can start venturing out to other pools that aren’t as established and carry higher risks, but also higher rewards.

Buy Bitcoin, Ethereum, XRP, and other cryptocurrencies on Coinsquare, the world’s home for cryptocurrency.


Coinsquare

Source: Coinsquare: Mining Bitcoin: How to Mine Bitcoin

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Disclaimer: CryptoCanucks.com is not intended to provide tax, legal or investment advice, and nothing on CryptoCanucks.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by CryptoCanucks.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

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Source: https://cryptocanucks.com/mining-bitcoin-how-to-mine-bitcoin/

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Palantir Now Accepts Bitcoin, Mulling Investment: Report

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

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Source: https://cryptobriefing.com/palantir-now-accepts-bitcoin-mulling-investment-report/

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VulcanVerse’s Marketplace Volume Triples from $5m to $15m, $20M Giveaway to Follow

Press Release: Newly-launched decentralized gaming platform, VulcanVerse, offers $20m giveaway as volume on its in-game marketplace triples.  11th May 2021, Cardiff, United Kingdom – Decentralized gaming platform, VulcanVerse is launching into the online gaming world, with record growth in users following a successful token sale.  The gaming platform is positioning itself as a pioneer in […]

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Press Release: Newly-launched decentralized gaming platform, VulcanVerse, offers $20m giveaway as volume on its in-game marketplace triples. 

11th May 2021, Cardiff, United Kingdom – Decentralized gaming platform, VulcanVerse is launching into the online gaming world, with record growth in users following a successful token sale. 

The gaming platform is positioning itself as a pioneer in NFT-based gaming, an area that has recently seen a huge surge in interest as a result of the wider NFT-mania that permeated the cryptocurrency market earlier this year. VulcanVerse expects to capitalize by converting this newly-found interest in online gaming into increased adoption for its own unique virtual world. 

With that aim, VulcanForged, the project behind VulcanVerse, has made several integrations with other blockchain-based platforms, including Polygon (formerly Matic), to broaden its reach. The team recently completed a sale for the platform’s native token, PYR, aimed at stimulating activity in its in-world marketplace. VulcanVerse wants to establish itself as a leader in decentralized gaming.

VulcanVerse In Demand 

Indeed, both have increased demand for VulcanVerse’s fantasy platform. PYR completed a successful token sale just over three weeks ago which led to a threefold increase in the volume from $5 million to $15 million on the platform’s marketplace, Vulcan Marketplace. The marketplace, which allows users to trade NFTs used in the fantasy game, is now one of the top five NFT marketplaces in the cryptocurrency space as a whole. 

As well as arctic as the native currency for the Vulcan Marketplace, PYR is also a utility token that can be used for staking, fee settlements, DeFi game launchpads, platform pools, and play-to-earn benefits as well as discounts for items on the Vulcan Marketplace. PYR is now available on Uniswap and Quickswap DEX.

In addition to sound economic performance, both for PYR and the platform’s own marketplace, VulcanVerse’s team has been pushing ahead with a number of integrations to sure up the platform’s infrastructure, as well as attract new users. The team has partnered with several leading blockchain platforms, Arkane Network and Polygon. The most recent Polygon partnership sees PYR launched on the Polygon network via an adapted version of the network’s Plasma feature, a layer two solution that aims to fix Ethereum’s scalability issues. The objective is to ensure VulcanVerse’s infrastructure can handle any increased output generated by an expected influx of users as the game expands as well as gain support from more established projects.

In a bid to incentivize even more growth, the VulcanVerse team is conducting a $20m PYR giveaway, the details of which can be found here

Navigating the VulcanVerse

As well as good macro-performance, VulcanVerse’s gaming world is a carefully scripted and rich environment itself. Land is integral to the in-world gameplay, with users able to buy plots of 20×20 square meters to build on or sell later at a higher price. Although new users can explore the universe without owning land, certain features of play are only available to landowners in order to encourage the evolution of the environment through building. 

Each plot of and the tools used to build on land are associated with specific “levels” all themed after Greek mythology. Users unlock these levels in gameplay, with each new level producing higher-value land and a more complex set of building tools.

As well as land, the VulcanVerse hosts NFT-based creatures called Vulcanites. Each Vulcanite is unique, has a tailored lore and set of skills that can be upgraded. They can be used to forage materials, compete for exclusive NFTs during treasure hunts or participate in community-led mini-games and side-quests. To balance world-building and interactivity, they provide benefits for their owners and help them level up but cannot be used to negatively affect others (e.g. they cannot attack players unless it’s part of an event). 

Vulcanites can be traded as 2d game cards on the VulcanMarketplace where users can browse other users’ Vulcanite stats. 

About VulcanVerse

VulcanVerse is a virtual world set in the Greco-Roman era. It is a stand-alone game that uses blockchain technology to enable users to truly own their land and assets. Its detailed lore is written by the authors of Fighting Fantasy, a series of successful single-player role-playing gamebooks created by Steve Jackson and Ian Livingstone. Additionally, the virtual world boasts complex gaming tools and multiplayer game-playing functionalities. 

VulcanVerse is blockchain-based, with key items in the virtual world existing as NFTs on a purpose-built blockchain. Its virtual world can be accessed via a downloadable application that recently became available on Google’s Play Store. 

The team behind the virtual world consists of a number of veteran online gaming developers and enthusiasts, selected from a wide cross-section of gaming companies including Vulcan Forged, Serv Reality, Spark Labs, and Fabled Lands Ltd.

For more information on how to become part of the VulcanVerse, visit their website here.

VULCANVERSE is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. 

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