I have 100 bitcoins worth

A lot of people still do not get the point of Bitcoin. They say it does nothing that could not be done before. That it has no intrinsic value. That it is dirty, both in terms of emissions and the way it is used by criminals.

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Content:

• Why Do All These Celebrities Keep Talking About Cryptocurrency?!
• As Bitcoin tumbles, IMF urges El Salvador to end its crypto embrace
• Five myths about cryptocurrency
• Wall Street Experts Are Lining Up to Predict Bitcoin Will Hit $100,000
• 1 XBT to USD - Convert Bitcoins to US Dollars
• If You'd Invested $100 in Bitcoin in 2011, Here's How Much You'd Have Now
• Bitcoin and Crypto Taxes in 2022: What You Need To Know
• Getty Images
• Today's Cryptocurrency Prices by Market Cap

WATCH RELATED VIDEO: I INVESTED $100 IN BITCOIN FOR A MONTH UPDATE

Why Do All These Celebrities Keep Talking About Cryptocurrency?!

Celebrities like Reese, Gwyneth and Matt Damon are hyping crypto. By Courtney Shea Updated February 1, In just the last couple of weeks Matt Damon and Reese Witherspoon have lent their considerable star power to the crypto cause Gwyneth was stumping for Bitcoin back in December—ever the avant-garde.

So yes, clearly, this formerly niche fintech phenomenon has gone mainstream. But do you really have to pay attention? What is cryptocurrency exactly? And why are so many celebs saying that now is the time to invest? That someone is not alone. In the most basic terms, cryptocurrency is digital currency.

Instead it runs on a blockchain, which is basically a digital ledger read: inalterable record of transactions that verify who owns what. Every type of cryptocurrency Bitcoin, Ether, Dogecoin, etc. Read here for a breakdown of how that works, but for our purposes, just know that cryptocurrency started as the currency to pay the people who run the blockchain, but has since become a valuable commodity like oil or gold to buy and sell. No question the list of Hollywood types shilling for the various digital tokens and exchanges seems to be growing by the day: Kim Kardashian, Snoop Dog, Tom Brady, Serena Williams, the guy from The Bachelor.

The list goes on and on , and in some ways the answer is obvious. Celebrity endorsement deals tend to include big fat paycheques. Their fans—not so much. Particularly in a space that is currently largely unregulated. Which, by the way, is why celebrities are allowed to make these endorsements in the first place. Instead she has been tweeting about crypto technology more generally. In keeping with her brand, Reese is pushing a womeninfintech agenda. And while some are questioning if she is in fact receiving a paycheque for her boosterism , the notion that women need to pay more attention to this world-changing technology is worth consideration.

No question there is a significant crypto gender gap. Or how to earn money besides making a paycheque and saving? Or when the cool new currency you shilled to your million Instafollowers turns out to be the subject of a lawsuit cough cough, Kim Kardashian. Yes and no. As well as being the buzziest, Bitcoin was the original cryptocurrency, invented in by a dude who may actually be a bunch of dudes who called it a peer-to-peer electronic cash system. This was all in the aftermath of the financial crisis, which exposed the flaws and corruption inherent in traditional financial institutions, and the idea was that Bitcoin could cut out the middleman and create a more democratic system.

That depends on who you ask. On the one hand, cryptocurrency is beloved by libertarians who still buy into its original mission of putting money in the hands of the people. On the flip side though, many of these coins have become a vehicle by which a small group of people often people who had money in the first place have gotten absurdly wealthy. Data from reveals that 0. At the same time, the last couple of years have seen these same groups experience disproportionate economic hardship.

That is exactly the point. We hear all of these crazy tales of fortunes gained, seemingly and sometimes literally overnight. We hear a lot less about the losses. See: Aforementioned massive market gains fuelled by hype that fuelled demand that fuelled hype that fuelled demand and so on until the Bitcoin bubble eventually bursts. That is a decision that needs to be considered in the broader context of your personal financial situation.

Another factor worth noting is the environmental impact of the cryptocurrency mining process, which uses more electricity than many countries. That said, both Casey and Small agree there is absolutely a fiscally responsible way to dip a toe read: no more than five percent of your investment portfolio into the enticing waters of crypto.

Just keep your eye out for sharks which, in this case, may look a lot like your favourite action and romcom stars. Joseph Communications uses cookies for personalization, to customize its online advertisements, and for other purposes. Learn more or change your cookie preferences. By continuing to use our service, you agree to our use of cookies. We use cookies why? You can change cookie preferences. Continued site use signifies consent.

As Bitcoin tumbles, IMF urges El Salvador to end its crypto embrace

This op-ed was originally published by The Washington Post. Bitcoin, the original cryptocurrency, was launched in The surge in their prices earlier this year minted tens of thousands of cryptocurrency millionaires—at least on paper. Cryptocurrencies might turn out to be a massive speculative bubble that ends up hurting many naive investors. Indeed, many cryptocurrency fortunes have already evaporated with the recent plunge in prices. But whatever their ultimate fate, the ingenious technological innovations underpinning them will transform the nature of money and finance. Cryptocurrencies such as bitcoin and Ethereum were designed as a way to make payments without relying on traditional modes such as currency notes, debit cards, credit cards or checks.

Five myths about cryptocurrency

True bitcoin. An easily understood application is decentralized digital currency; like being able to send a gold coin as easy as you send an email. Got a few houses small landlord here , and have both bought and sold real estate over the years, so this wasn't my first rodeo. By avoiding banks and payment processors, Bitcoin developed a decentralized, worldwide market that requires only an Internet connection and an investment of fiat currency national currency if you want to participate. The price increased by 0. This is not a technical analysis. Bitcoin is the digital age's novel, decentralized, and automated solution to the problem of money: accessible worldwide, controlled by nobody.

Wall Street Experts Are Lining Up to Predict Bitcoin Will Hit $100,000

Billions of pounds worth of Bitcoin, stolen during a hack of crypto exchange Bitfinex, have been moved by attackers. The assets transferred today represent just over 79 per cent of the total BTC lost. Although large amounts of money are being moved, Elliptic said it is unlikely that the funds will be cashed in for fiat, with just four per cent of the stolen assets withdrawn by the hackers to date. The majority of the stolen assets have been blacklisted and therefore cannot be swapped on a centralised exchange. Cashing-out large volumes over a short period of time would draw unwanted attention.

1 XBT to USD - Convert Bitcoins to US Dollars

It will also examine the accounting and regulatory, and privacy issues surrounding the space. Bitcoin , blockchain , initial coin offerings , ether , exchanges. Originally known for their reputation as havens for criminals and money launderers, cryptocurrencies have come a long way—with regards to both technological advancement and popularity. The technology underlying cryptocurrencies has been said to have powerful applications in various sectors ranging from healthcare to media. With that said, cryptocurrencies remain controversial. It will also examine the outstanding issues surrounding the space, including their evolving accounting and regulatory treatment.

If You'd Invested $100 in Bitcoin in 2011, Here's How Much You'd Have Now

MIZATA, El Salvador, Nov 20 Reuters - This November 20 story corrects to show Blockstream executive Samson Mow talking about the possibility of countries issuing bitcoin-backed bonds rather than 10 after company said he had misspoken and issued a correction. El Salvador plans to build the world's first "Bitcoin City", funded initially by bitcoin-backed bonds, President Nayib Bukele said on Saturday, doubling down on his bet to harness the crypto currency to fuel investment in the Central American country. Speaking at an event closing a week-long promotion of bitcoin in El Salvador, Bukele said the city planned in the eastern region of La Union would get geothermal power from a volcano and not levy any taxes except for value added tax VAT. Half of the VAT levied would be used to fund the bonds issued to build the city, and the other half would pay for services such as garbage collection, Bukele said, estimating the public infrastructure would cost around , bitcoins. El Salvador in September became the first country in the world to adopt bitcoin as legal tender. Although Bukele is a popular president, opinion polls show Salvadorans are skeptical about his love of bitcoin, and its bumpy introduction has fueled protests against the government.

Bitcoin and Crypto Taxes in 2022: What You Need To Know

Bitcoin has received a lot of attention over the past few weeks in the wake of the recent malware attacks that impacted dozens of countries and thousands of businesses. Victims were required to pay a "ransom" in the digital currency to unlock files that were encrypted by the virus. The question for many business owners is that, given its growing acceptance, is it ready for prime time? Should we accept bitcoin?

Getty Images

RELATED VIDEO: If you bought $100 of bitcoin in 2011

Although I generally avoid this topic. Let me explain my reasoning behind that forecast. Regardless of whether Bitcoin continues to serve as censorship-resistant money, which it does for a minority of users, there will still be people who benefit from selling that narrative to increase the value of their own holdings. Anyone who purchased Bitcoin and held onto it for at least four years witnessed shockingly high appreciation, no matter what price they bought it at. The way this cycle seems to work is that the price reaches new all-time highs for several months, then plummets to half the price as the hype cycle corrects itself and the skeptical newbies, drawn by the promise of risk-free riches, cash out.

Today's Cryptocurrency Prices by Market Cap

With some cryptocurrencies like Bitcoin and Ethereum giving investors huge returns in the past few months, beating all other forms of investment in assets, retail investors are now dipping their toes into the water. The trouble is, not many understand what it means to invest in cryptocurrencies. A recent poll on Financial Express Online showed that About 15 percent said they would get in for quick gains. Gaurav Dahake, CEO of cryptocurrency exchange Bitbns, says a lot of people signed up during the first big bull run of Bitcoin in and , but nearly 90 percent dropped out. However, after the Supreme Court in March reversed an RBI circular that prevented financial institutions and banks from dealing in crypto, many investors are flocking back. The interest levels are spiking in Bitcoin, but it will taper soon.

Enjoy challenges on the go plus other interactive activities on the new Staying Sharp app. Try it today! You may be considering jumping in: Perhaps your kids already have and made a fortune, giving you a major case of FOMO fear of missing out. Could now be the right time to buy?