Elon gates crypto
Bitcoin, Ethereum, and other cryptocurrencies have plummeted over the last week, but there is hope on the horizon as the drp seems to be stabilising - some investors say they'll never sell. Bitcoin investors have breathed a collective sigh of relief as the cryptocurrency market has stabilised slightly, following days of plummeting prices. Over the last week, Bitcoin dropped in price by around 20 percent, leading some investors to lose hundreds or even thousands of pounds. Luckily, the drop has slowed somewhat, with Bitcoin only losing 4 percent of its value since yesterday. That doesn't mean investors are out of the woods just yet, as the crypto's price is still down by around a quarter since the start of the year. However, it marks a slight change in fortunes for people who have hopped aboard the Bitcoin gravy train after multiple crashes since December have seen the value of it go into 'freefall'.
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- Tesla CEO Elon Musk sparks Shiba Inu cryptocurrency surge with single tweet
- Elon Musk impersonators have stolen more than $2 million in cryptocurrency since October
- Bitcoin nearly halves from its peak and Nasdaq posts worst week since pandemic onset
- Twitter accounts of Joe Biden, Elon Musk, Bill Gates hacked to run Bitcoin Scam
- Elon Musk Sends Crypto Coin Plummeting: 'True Value is Building Products'
- Should you invest in Bitcoins? Bill Gates says yes but only if you are Elon Musk
- Bitcoin heads for worst weekly drop since March amid sell-off
- Bitcoin falls after concerns expressed by Musk, Gates and Yellen
Tesla CEO Elon Musk sparks Shiba Inu cryptocurrency surge with single tweet
David Z Morris. David Z. He holds Bitcoin, Ethereum, Solana, and small amounts of other crypto assets. This past year was unique, above all because the day-trading momentum that broke out during COVID lockdowns was carried forward into real adoption and innovation by the likes of Twitter. And crypto is generally highly cyclical, as new converts get overextended and burned, then retreat to lick their wounds and do some learning before they dive back in.
Even if it is less spectacular than , will see major moves, such as the launch of Ethereum 2. There are also major real-world factors that will affect crypto, from U. None of it is financial advice, and most of it is probably wrong — but I hope it will help you form your own picture of the road ahead.
Expect at least a period of unstable and essentially flat token markets. Momentum could very well pick back up, so consider this a projection lightly held. Craig Wright will sue him for defamation, and much hilarity will ensue. For more insight into what actually makes real art valuable, as an NFT or in other forms, review my pieces on the art market and generative art.
That implies a degree of risk, and big advantages to the transition may not arrive until , when the new Ethereum will begin introducing sharding. Probably the most important thing to note is that at least until sharding is implemented, the PoS transition is NOT expected to affect transaction fees on Ethereum. Next year will be an expansion in the diversity of platforms people actually use, but it will be followed by real competition and, eventually, re-consolidation.
Instead, each will see returns based on its individual value proposition. Decoupling has been happening slowly for years, but the process really accelerated in But in the medium term, there are upsides here.
The lingering question is whether stocks have much room to run given how overextended price-to-earnings ratios already are. The U. Federal Reserve will be shrinking its bond-buying program starting in January, and is also expected to raise interest rates in That will have complicated and frankly uncertain impacts for crypto.
In theory, it should help tamp down inflation, but could also put downward pressure on speculative investments that have attracted some of the loose money of recent years. Keep in mind, though, that at least in conventional economic terms, this is good news. Near-zero interest rates only benefit people selling low-quality, high-risk investments.
But if inflation continues or accelerates, even just for the first half of the year, bitcoin will need to show a market response for the narrative to remain credible in the medium term. Watch for secondhand cubes on eBay , but keep an eye on those shipping costs. Meme coins are basically a casino, but they enjoy positive feedback loops, because winners draw major public interest that keeps the wins rolling.
Conversely, a downward or sideways cycle can be exceptionally brutal. That means coins like doge will continue losing steam it peaked all the way back in May , and new pumps will have limited upside. Shiba inu is an interesting exception here, and a possible demonstration of how to turn a meme into a real project. Believe it or not, flat or down markets tend to be very interesting times to be in crypto. The annoying shillers fall away and the engineers and others who are actually creating things have time to focus on the task at hand.
The ascendance of Avalanche, Terra, Solana and Polkadot this year spells the end of real momentum for many projects that have been around for a while. They promised big things for years, but underperformed both technologically and in the markets during the biggest year in crypto so far. It may even retreat by the end of next year. Sentiment is a huge factor in inflation because it guides forward-looking price and salary setting.
Inflation seems likely to continue into early — for instance, food manufacturers have already announced price increases that will go into effect in January. That could mean a lot of the pressures driving U. Also remember that whatever the larger COVID picture looks like, summer will likely be a very low period, which should put at least temporary downward pressure on the goods consumption that has made up much of inflation.
But in an abstract theoretical way — we might not see actual rules or enforcement unless someone uses a decentralized autonomous organization to do something truly insane.
This is also where the rubber hits the road for decentralization: There will be some truly decentralized organizations that will be able, to one degree or another, ignore regulation. Those faking it will get smacked down. That means both more enforcement actions from the U. The good news is, U. As investor Lyn Alden has pointed out, a regulated stablecoin market would basically mean a huge new infusion of Treasury-bill-backed liquidity worldwide.
To me, that sounds like a formula for upward pressure on crypto asset prices, for better or worse. Immediately after El Salvador announced its new bitcoin policy, reports came in that other countries , mostly in South America, were considering similar moves.
They just got a strong nudge from the Bank of England, which on Dec. This sends a clear message to any country that dares push back against neoliberal hegemony: Not your bank, not your gold. Bitcoin presents a clearly appealing alternative to that threat. Bitcoin traffic in Turkey continues to surge. This is the hyperinflation your parents warned you about. Early quarterly reports on virtual-reality sales and usage are either bad or heavily massaged. Hundreds of millions of dollars are wasted.
In retrospect, everyone agrees that the idea of a social network you have to put on goggles to use was extremely stupid all along. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups.
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Follow davidzmorris on Twitter. So what happens after the biggest year ever? Probably a not-as-big year. The overall token market flattens. Elon Musk will continue misleading and confusing people new to crypto. NFTs keep tanking. Eth2 arrives. Layer 1 diversity is real. The Great Token Decoupling continues. Stocks keep going up, but more slowly. The Fed gets tight. Tungsten cubes collapse. Meme coins wipe out.
Rough waters for old hands. USD inflation will peak. DAOs will attract serious regulatory attention. Stablecoins get regulated. More nations adopt bitcoin. Turkey descends into chaos. Subscribe to Money Reimagined, our newsletter on financial disruption. Sign Up. For Now Jan 30,
Elon Musk impersonators have stolen more than $2 million in cryptocurrency since October
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Bitcoin nearly halves from its peak and Nasdaq posts worst week since pandemic onset
Musk's tweet was part of a reply to a tweet from Peter Schiff , chief market strategist for brokerage firm Euro Pacific Capital, about the value of Bitcoin versus gold-backed currency. In an interview with Bloomberg , Gates gave his thoughts on Bitcoin and the idea that it can be affected so dramatically by a tweet from Musk. Gates also expressed concern about Bitcoin's massive use of energy, similar to a point Yellen made during the DealBook conference on Monday. She remarked about how the amount of energy used for the transactions is "staggering. It's an extremely inefficient way of conducting transactions, and the amount of energy that's consumed in processing those transactions is staggering. Bitcoin and other crypto coins such as Dogecoin require a lot of computing power in order for people to conduct transactions. These heavy computer calculations, also known as mining, need a huge amount of power -- more than the country of Argentina. Bitcoin falls after concerns expressed by Musk, Gates and Yellen The crypto coin takes a bit of a stumble after a long rally. Oscar Gonzalez. Bitcoin continues dropping in price.
Twitter accounts of Joe Biden, Elon Musk, Bill Gates hacked to run Bitcoin Scam
Thanks for contacting us. We've received your submission. The United States is likely just a few years away from implementing a national digital currency , according to analysts at Bank of America. The first US digital dollar could be issued between and , the strategists added.
Elon Musk Sends Crypto Coin Plummeting: 'True Value is Building Products'
As reported by Protocol , Musk asked Jack Sweeney , the owner of the account, if he could take it down. ElonJet is only one of 15 accounts Sweeney has created. These pages are designed to tweet each time a select plane takes off or lands, tracking jets owned by high-profile individuals like Bill Gates and Jeff Bezos. Musk has yet to respond to the request. As of now, ElonJet is still running and has more than , followers. Vince Staples, from the record.
Should you invest in Bitcoins? Bill Gates says yes but only if you are Elon Musk
Billionaire, Tesla Inc. In the video clip Gates attempts to defend the still-nascent ecosystem. Letterman cites how a major demonstration of internet technology was a baseball game being broadcast over the internet and asks "does radio ring a bell? Given the almost unimaginable nature of the present, what will the future be? The video was produced by angel investor Jason Calacanis, the host of the "this week in startups" podcast, he explained that the internet also removed the "gatekeeper" and that everyone can publish online, while only a very limited number of people could speak on the radio. Calacanis said this is what he believes is happening now with Web 3. Interestingly enough, the video seemingly contradicts a stance publicly expressed by Musk who tweeted earlier this month that Web 3.
Bitcoin heads for worst weekly drop since March amid sell-off
Credits: Reuters. But how could you sell it - on the blockchain, dominated by cryptocurrency Ethereum. Musk in end-October had revealed that the only cryptocurrencies he holds are Bitcoin, Ethereum and Dogecoin and none of the spinoffs, including cryptocurrencies named after him. Maxis believe that all other digital currencies are inferior to Bitcoin.
Bitcoin falls after concerns expressed by Musk, Gates and Yellen
RELATED VIDEO: \The billionaire Microsoft founder made his remarks in a recent New York Times interview, and recent data revealing the enormous energy usage of bitcoin mining seems to back that up. But proponents of digital currencies, which are quickly being adopted by the mainstream, believe that the industry could be a force for good — if it eventually makes a total switch to renewables. Recent studies have highlighted the enormous toll that mining bitcoin, the most well known of all cryptocurrencies, has on the planet. An analysis undertaken by Cambridge researchers, for example, estimates that bitcoin uses up more electricity than the whole of Argentina. This is because they chase wherever energy is cheapest, so some opportunistic mining operations will move their operations seasonally , to areas like Sichuan where there is low-cost hydropower in the summer months. Outside of China, bitcoin miners are also gradually moving to cleaner energy.
Elon Musk has managed to turn in a profitable year for Tesla but he faces challenges in sustaining that financial growth, says David Kuo. January 19, It also announced that Tesla would start accepting bitcoins as a form of payment for its products soon. Tesla has done nothing wrong buying bitcoins. Unconventional, perhaps. But not illegal.
Billionaires have taken a hit in recent days after stocks plummeted off the back of news that the US Federal Reserve was planning to hike up interest rates. They are expected to confirm the news soon. It caused the biggest fall in the stock market since the start of the Covid pandemic back in March Although Mr Musk is still the richest man in the world, his fortunes tanked after a horror week on the stock markets for Tesla.
Anyone who does not think about distant difficulties will certainly face near troubles ...
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