Tron TRX Offers to Assist S Dinwiddie in His 246M Crowdfunding

Tron (TRX) Offers to Assist S. Dinwiddie in His $24.6M Crowdfunding

John P. Njui   •   TRON (TRX) News   •   May 18, 2020   •   2 Min read

In brief:

  • Basketball star, Spencer Dinwiddie, floated the idea of his fans crowdfunding $24.6M to determine his next NBA team.
  • The Tron foundation offered to help by cutting out the middleman that is GoFundMe.
  • Spencer Dinwiddie and Justin Sun have shown willingness to work together despite the GoFundMe effort having been deactivated.
  • Democratizing sports might just happen in the near future.

Late last week, NBA star Spencer Dinwiddie, posted a $24.6 Million Bitcoin (BTC) crowdfunding campaign on GoFundMe to get his fans involved in determining his future basketball team after the 2020-21 season. The initial tweets by Mr. Dinwiddie expressing his idea can be found below.

Tron Foundation Offers to Assist in the Crowdfunding

Spencer Dinwiddie soon opened a GoFundMe account where the crowdfunding was hosted. The Tron Foundation soon offered to help Spencer Dinwiddie bypass the middleman that is GoFundme. The team at Tron elaborated that such a move on the Tron blockchain would guarantee all the funds were utilized as intended.

Hi @SDinwiddie_25, we can help you and allow you to cut out the GoFundMe middleman to put 100% of your fans’ hard-earned crypto to work. #TRX Just ask @justinsuntron!

Spencer Dinwiddie soon responded to the offer with a simple ‘let’s make it happen then!’. His response and that of Justing Sun can be found in the tweets below.

Crowdfunding Falls Short, Amount Raised Donated to Charity

The GoFundMe page which was opened on Friday, May 15th, has since been deactivated with only $1,150 raised. Mr. Dinwiddie was optimistic about the idea of decentralizing sports but was also realistic that his target might not be reached. He further explained that he would donate all the funds raised since Friday.

Woke up this morning and saw we reached about 100 individual donors and a lil over $1k. We also had some fun with #NBATwitter lol

I’ll be donating the proceeds to @ReadWorks, a 501(c)3 organization that supports remote learning efforts for teachers and students during COVID-19.

What Next for Spencer Dinwiddie and the Tron Foundation?

With the crowdfunding on GoFundMe deactivated, not much has been revealed as to whether Spencer Dinwiddie and Justin Sun discussed the matter further. However, the entire idea of letting fans decide the future of their favorite player is a step forward in decentralizing sports. As Dinwiddie put it, it is Democratizing Team choice through fan engagement.

Democratizing Team choice seems fair.

Taking the minimum is solely to help the roster construction and add talent.

Ppl always take discounts to build super teams. I view this as an endorsement and fan engagement. Let’s see what the CBA says

(Feature image courtesy of Unsplash.)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

NBA Star Spencer Dinwiddie Crowdfunding Contract In BTC From Fans

NBA Star Spencer Dinwiddie Crowdfunding Contract In BTC From Fans

By RTTNews Staff Writer | Published: 5/18/2020 11:16 AM ET

American professional basketball star Spencer Dinwiddie has launched a crowdfunding campaign to sell his National Basketball Association (NBA) contract to his fans in Bitcoins (BTC). He is looking to tokenize his contract in BTC worth nearly $24.63 million, which is equivalent to 2625.8 BTC at the time of his announcement.

Dinwiddie is using the funding platform Gofundme to raise the amount from his fans, which will enable them to determine his next team decision and sign a one year contract at that destination. The fans will get that option only if they hit the target amount of $24.63 million.

Since launching the campaign, Dinwiddie's fundraiser has raised $1,100 from 95 donors in the past two days. Dinwiddie currently represents Brooklyn Nets of the NBA.

Dinwiddie will be donating 100% of the campaign to charity if the fans do not hit the target amount. He added, "Fan engagement comes in all shapes and sizes, lets have fun folks!"

Dinwiddie has been a strong supporter of Bitcoin and an investor. He became a bitcoiner in the summer of 2017, when he reportedly bought the coin for $3,000, and later sold some for around $15,000 per coin, before the digital currency's peak of $19,783 in late December 2017.

In October 2018, Dinwiddie said his signature shoe brand K8IROS would accept Bitcoin as payment. He developed the shoeline in collaboration with a company called Project Dream.

Over time, various sportspersons and teams have shown a growing interest in bitcoin and other cryptocurrencies, giving it more legitimacy.

The Sacramento Kings became the first NBA team to accept bitcoin for ticket payment in 2014. In July 2018, they also installed crypto-mining machines inside their arena to become the first professional sports team to foray into cryptocurrency mining and use the funds for charity program "MiningForGood".

Dallas Mavericks has become the second NBA team after Sacramento Kings to accept cryptocurrency Bitcoin (BTC) as an additional method of payment for match tickets and merchandise.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

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Why Robert Kiyosaki Is Predicting Bitcoin At 75000 In Three Years

Why Robert Kiyosaki Is Predicting Bitcoin At $75,000 In Three Years

By Lorenzo Stroe – May 16, 2020

Bitcoin continues trading in a strong uptrend created back in March after the catastrophic Pandemic event that led to the entire global economy to collapse. Bitcoin is currently trading at $9,400 after its 3rd successful halving a few days ago.

Analysts and traders are now speculating about the potential of Bitcoin in the next months and years as the digital asset usually experiences a huge bull rally months after halving events. The last 2 halving events were followed by enormous price surges that lasted months and led Bitcoin to hit ATH.

So far, this halving event seems to be even more successful as it has helped Bitcoin already months before the event.

Bitcoin Predictions Keep Coming Up

With interest in Bitcoin growing, the number of predictions about the digital asset is also growing across social media and news channels. We have seen thousands of different predictions throughout the years, everyone wants to correctly predict the next price for Bitcoin although most people fail.

The latest prediction comes from legendary investor Robert Kiyosaki with more than 1 million followers on Twitter.

Kiyosaki believes Bitcoin can easily reach $75,000 in just 3 years while Gold could hit $3,000 in the next year. According to Kiyosaki, these assets are going to get a lot of interest from people and will climb fast due to the incompetence of the Federal Reserve System and because trillions of dollars are being printed every day.

He ends the tweet saying ‘Best-prepare for the WORST’ indicating that the stock market and the global economy could see another big hit in the near future.

Why Do Most Predictions Fail?

It is extremely hard to predict the price of any asset, let alone cryptocurrencies. The variables are simply too high to really predict a specific price by a specific date, however, it’s definitely not impossible to predict whether an asset will go up or down in the future. There are plenty of legendary and multi-billionaire investors that have been doing it for years.

Bitcoin, unfortunately, is a lot more volatile than stocks and can still change drastically in a matter of days. New regulations across the world, perhaps a bug in the code, there are plenty of factors that could come in play and heavily affect the price of Bitcoin.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Lorenzo Stroe and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

Crypto Twitter Tries Fails at Explaining Bitcoin BTC to JK Rowling

Crypto Twitter Tries, Fails at Explaining Bitcoin (BTC) to J.K Rowling

John P. Njui   •   BITCOIN NEWS   •   May 16, 2020   •   3 Min read

In brief:

  • The critically acclaimed author of the Harry Potter series, J.K Rowling, tweeted that she would like to understand Bitcoin (BTC).
  • Crypto twitter responded with numerous explanations.
  • A fake twitter account mimicking the author claimed to have purchased BTC.
  • In the end, J.K Rowling still did not understand Bitcoin.

What started off as an honest question by J.K Rowling about Bitcoin, has provided on of the best insight into the many hurdles of crypto and Bitcoin adoption. In a simple tweet, the critically acclaimed author of the globally known Harry Potter series requested an explanation of Bitcoin (BTC).

It’s a digital currency. There’s ~18m units of it. It’s not backed by anything, it’s just valuable because it is, like collectibles. There’s a network of computers (which anyone can join) that maintains a decentralized global excel spreadsheet of how many coins each person has. – Vitalik Buterin

#bitcoin is not “magic” money. We know that it can be hard to understand, so here’s a 5-minute explanation on what bitcoin really is and how it works! We hope this helps – theteam at Gemini Exchange

Bitcoin is not magic, funny money. That’s the U.S. dollar and the Fed – Tyler Winklevoss

It’s like real estate. Supply is limited and everyone wants more of it. Also it’s digital. – Udi Wertheimer

I can send you 1 #Bitcoin. Seeing is believing. – Justin Sun

The tweet by Ms. Rowling has since had thousands of replies and retweets. In one of her responses to the numerous offers to explain Bitcoin, she admitted that it all sounded like ‘blah blah blah’.

 

People are now explaining Bitcoin to me, and honestly, it’s blah blah blah collectibles (My Little Pony?) blah blah blah computers (got one of those) blah blah blah crypto (sounds creepy) blah blah blah understand the risk (I don’t, though.)

J.K Rowling Admits She Still Does Not Understand Bitcoin

Less than a day after Ms. Rowling requested an explanation on Bitcoin, she tweeted what seems to be a conclusion that she is yet to understand the digital asset.

This started as a joke, but now I’m afraid I’ll never be able to log in to Twitter again without someone getting angry I don’t own Bitcoin. One day you’ll see a wizened old woman in the street, trying to trade a Harry Potter book for a potato. Be kind. She did try to understand.

(Feature image courtesy of Unplash.com)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

John Piper Says the Coronavirus is a Sign of the End Times

John Piper Says the Coronavirus is a Sign of the End Times

By Gary DeMar | Published: May 14, 2020

While the writer of the letter to the Hebrews says we should “have our senses trained” (5:14), the Bereans searched the Scriptures daily to assess whether what Paul was saying was true or not (Acts 17:11), and John says to “test the spirits, to see whether they are from God, because many false prophets have gone out into the world” (1 John 4:1), it seems that today’s Christians are easily led astray by every wind of doctrine (Eph. 4:14), especially when it comes to Bible prophecy.

It appears that no one is immune. Consider John Piper whose book Coronavirus and Christ includes this chapter: “Awakening Us for the Second Coming.” The chapter begins with this true statement: “the history of the Christian church is littered with failed predictions of the end of the world.” He then writes the following, claiming the Coronavirus is a sign that Jesus’ return may be near

Jesus said there would be pointers to his coming—like wars, famines, and earthquakes (Matt. 24:7). He called these signs “birth pains” (Matt. 24:8). The image is of the earth as a woman in labor, trying to give birth to the new world, which Jesus would bring into being at his coming.

*****

Paul picked up this imagery in Romans 8:22 and referred the birth pains to all the groanings of this age—all the miseries of disaster and disease (like the coronavirus). He pictured us in our diseases as part of the labor pains of the world.

Piper’s not alone. A majority of Christians and pastors believe we are living in the last days. Consider the following results of a recent survey:

LifeWay found that nearly nine out of 10 surveyed pastors viewed the end times prophecies of the Bible as being showcased in current events.

This included around 83 percent of respondents believing that Jesus was referring to current events when discussing the rise of false prophets and false teachings, traditional morals becoming less accepted (79 percent), wars and national conflicts (78 percent), earthquakes and other natural disasters (76 percent), and people leaving Christianity (75 percent).

The survey also found that 56 percent of surveyed pastors believed Jesus would return within their lifetime, versus 20 percent who did not believe it would happen in their lifetime.

Referencing Matthew 24:7–8 and contending that Jesus was referring to some distant end-time series of events is not an interpretive possibility because Jesus was answering questions asked by His disciples about the destruction of the temple and the end of the age (Matt. 24:1–3), that is, the end of the Adamic and Mosaic ages (αἰώνων/aiōnōn) (1 Cor. 10:11), not the end of the world (kosmos).

Wars and Rumors of Wars

Wars and Rumors of Wars will help you search the Scriptures to see what Jesus said about famines, earthquakes, wars and rumors of wars, and other supposed end-time signs refer to our generation or a past generation.

There were wars and rumors of wars in the lead up to the temple’s destruction in AD 70 as well as earthquakes, famines (Acts 11:27–28), and even plagues (Luke 21:11). The clincher is that Jesus said that the generation then alive would not end until all the events mentioned in the Olivet Discourse took place (Matt. 24:34). The birth pangs were related to that generation not 50 generations later.

The timing is the key to understanding the passage, otherwise a perpetual state of fear, disappointment, and inaction set in. Why bother with this world since Jesus is about to rescue us from all our troubles? All we must do is hold on a little while longer and all the bad stuff will go away, and we won’t have to do anything to fix what’s wrong. Our inaction becomes a self-fulfilling prophecy.

Jesus was warning His first readers that these common signs were not end-of-the-world signs because they are common to every generation. Consider the following from science and science fiction writer Michael Crichton of Jurassic Park fame:

Is this really the end of the world? Earthquakes, hurricanes, floods?

No, we simply live on an active planet. Earthquakes are continuous, a million and a half of them every year, or three every minute. A Richter 5 quake every six hours, a major quake every 3 weeks. A quake as destructive as the one in Pakistan every 8 months. It’s nothing new, it’s right on schedule.

At any moment there are 1,500 electrical storms on the planet. A tornado touches down every six hours. We have ninety hurricanes a year, or one every four days. Again, right on schedule. Violent, disruptive, chaotic activity is a constant feature of our globe.

Is this the end of the world? No: this is the world. It’s time we knew it. [1]

“Let’s Stop Scaring Ourselves” by Michael Crichton
Parade magazine, December 5, 2004.

John Piper’s end-time views are part of a long line prophetic prognostications gone wrong.

Charles Wesley Ewing, writing in 1983, paints a clear historical picture of how prophetic interpretation based on current events turns to confusion, uncertainty, and in some people unbelief when it comes to predicting an end that disappoints:

In 1934, Benito Mussolini sent his black-shirted Fascists down into defenseless Ethiopia and preachers all over the country got up in their pulpits and preached spellbinding sermons that had their congregations bulging at the eyes in astonishment about “Mussolini, the Anti-Christ,” and to prove their point they quoted from Daniel 11:43, which says, ‘And the Ethiopians shall be at his steps.’ Later, Benito, whimpering, was [shot and later] hung by his own countrymen, and preachers all over America had to toss their sermons into the scrap basket as unscriptural. [2]

Ewing goes on to mention how Hitler’s storm troopers took Czechoslovakia, Poland, France, North Africa, and set up concentration camps where millions of Jews were killed in what has become the modern-day definition of “holocaust." Once again, preachers ascended their pulpits and linked these events to Bible prophecy and assured the church-going public that Hitler was the antichrist and the rapture was just around the next bend. When the allies routed the Nazis and drove them out, sermons were once again tossed out or filed away to be revised at some future date hoping people’s memories would fade.

The next end-time-antichrist candidate was Joseph Stalin, the leader of godless Communism, a movement hell-bent on conquering the world. “But on March 5, 1953, Stalin had a brain hemorrhage and preachers all over America had to make another trip to the waste basket.” [3]

The Coronavirus is real and deadly for many people like other viruses throughout history. But it is not the plague (that killed tens of millions) or the Spanish Flu or even the Hong Kong Flu that killed more than a million people in 1968 and 1969 or any natural disaster or cosmic signs like “Blood Moons.”

The Coronavirus is one among numerous diseases that affect us. I agree with John Piper that the Coronavirus is a wake-up call for people who don’t know Jesus Christ as their Lord and Savior because the next eschatological event in our life will be our death, if not from a virus, it will be from something else.

We will not get out of this world alive, "inasmuch it is appointed for men to die once and after this comes judgment" (Heb. 9:27).

References:

  1. Michael Crichton, “Earthquakes: Fear and Complexity” (San Francisco, CA: The Independent Institute, November 15, 2005.
  2. Charles Wesley Ewing, “The Comedy of Errors,” The Kingdom Digest (July 1983), 45.
  3. Ewing, “The Comedy of Errors,” 45–46.

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Article written by Gary DeMar, and posted on the AmericanVision.org website.

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Bitcoin’s BTC Correlation with the SampP 500 Begins to Drop

Bitcoin’s (BTC) Correlation with the S&P 500 Begins to Drop

BTC's correlation with the S&P 500 has begun to taper off from its April peak of 0.36.

John P. Njui   •   BITCOIN NEWS   •   May 14, 2020   •   1 Min read

In brief:

  • Bitcoin is once again battling to break the $10,000 resistance level.
  • BTC has been highly correlated to the traditional markets since the Coronavirus crash of March 2020.
  • Its correlation with the S&P 500 has started to drop.

In the last 48 hours, Bitcoin (BTC) has pulled a fast one on short-sellers who were banking on the fading interest in the digital asset after the Bitcoin halving. In the last two days, the King of Crypto has risen steadily from the $8,600 support zone to a local top of $9,940 (Binance rate).

Bitcoin Reacts to News of a $3 Trillion Second Stimulus Package

The quick rise in value can partially be attributed to the news of a second stimulus bill being discussed in the United States Congress. The new stimulus bill is worth $3 Trillion and further points to a scenario where the Fed’s money printer will continue going ‘Brrr’.


Screenshot courtesy of Money.Brrr (Click image for larger view)

BTC’s Correlation with the S&P 500 Begins to Decline

Further checking the BTC/S&P 500 correlation chart courtesy of the team at Coinmetrics, we realize that Bitcoin has started once again to chart its own path in the markets. The two assets were highly correlated during, and after, the Coronavirus Crash of March. The correlation seemed to have peaked in April at a value of 0.36. However, it has since started to reduce as can be seen in the chart below. The current correlation between the two assets now stands at 0.2904 and could continue dropping in the coming days.


BTC/S&P500 correlation chart courtesy of Coinmetrics.io (Click image for larger view)

Bitcoin's Battle for $10,000 Continues

From a technical point of view, it seems like Bitcoin has experienced a double top at the $10,000 zone and could be set for a decline that could last a few weeks. However, the news of a $3 Trillion stimulus bill in Congress might just provide additional bullish momentum that could result in the breaking of $10,000. Cameron Winklevoss summarizes this fact in the following tweet.

(Feature image courtesy of Unsplash.)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

BinanceUS Rolls Out OTC Trading Platform

Binance.US Rolls Out OTC Trading Platform

By RTTNews Staff Writer | Published: 5/13/2020 10:05 AM ET

Cryptocurrency trading platform Binance.US launched its over-the-counter (OTC) trading platform for cryptocurriencies such as Bitcoin for users in most U.S. states.

The minimum trade size for the portal is an equivalent value of 10,000 U.S. dollars, with 12 different coins and tokens initially supported for OTC trading.

The portal is a live request for quotation (RFQ) platform in which users will be able to place and confirm orders and receive quick settlement directly into their Binance.US accounts. It will not need the user to handle different wallet addresses as there is no separate wallet for OTC trades.

Users need to have a KYC verified (Level 1) account on Binance.US to begin using the OTC Trading Portal. The platform will enable users to quickly trade large quantities of cryptocurrencies in a single trade, helping users save time by clearing trades at one price.

On the OTC platform, the users' trades are private because the order books are not touched as the trade is negotiated directly between the buyer and the seller. There are also no fees charged for OTC trades.

Binance.US started trading for customers across most U.S. states in late September last year with an initial list of seven tokens – BTC, ETH, XRP, BCH, LTC, BNB and USDT stablecoin. It had announced the partnership with U.S.-based BAM Trading Services Inc. in mid-June 2019 to launch a cryptocurrency trading platform in the U.S. as Binance.US.

Trading on the platform is currently not available for residents in the U.S. states of Alabama, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont and Washington.

The platform offers more than 30 cryptocurrencies including Bitcoin (BTC), BNB, Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Zcash (ZEC), 0x (ZRX), Basic Attention Token (BAT), Dash (DASH), Dogecoin (DOGE) and Tether (USDT). It also offers 40 trading pairs to U.S. users.

Apart from initially providing desktop/mobile web access for its users, Binance.US has developed an app version for iOS and Android, which is available for download from the respective play stores since early January.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

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Bitcoin Now Has A Lower Inflation Rate Than Gold After Successfully Undergoing Its Third-Ever Halving

Bitcoin Now Has A Lower Inflation Rate Than Gold After Successfully Undergoing Its Third-Ever Halving

By Brenda Ngari – May 11, 2020

The block reward halving for the pioneer cryptocurrency, which was definitely the most awaited event this year has finally taken place. As a result, the rate at which new bitcoin’s are minted has just reduced by 50% for the third time in the coin’s history.

Bitcoin Undergoes Third Halving

At exactly 3.23 PM EST on May 11, the 630,000th block was mined by AntPool, initiating the scheduled halving event, according to data provided by Tradeblock. This block consisted of 3,134 transactions with an estimated transaction value of 3311.62144322 BTC. Chinese bitcoin miner F2Pool mined the last block before the halving took place.

Halving is a quadrennial event, meaning it occurs every four years (or after every 210,000 blocks). This event is basically a stroke of genius that aims to put a lid on the inflation of BTC by reducing the rewards for mining blocks on the bitcoin network. 

After the halving that just occurred, miners’ rewards have reduced from 12.5 BTC to 6.25 BTC. The bitcoins produced daily will, therefore, reduce from 1,800 to 900 units. Bitcoin’s inflation rate will subsequently go down to 1.8%. This means that the OG cryptocurrency now has a lower annual inflation rate than gold.

The first-ever halving took place in 2012 which saw the rewards reduce from 50 BTC to 25 BTC. The second one then happened in 2016 and the rewards were slashed from 25 BTC to 12.5 BTC. 

Possible Effects Of The Halving

The immediate effect of the halving will be felt by the network’s miners. Due to the reduced revenue, small miners will be forced to turn off their rigs as the production cost is expected to double to $14,000 -around 70% above the current prices. Capriole’s Charles Edwards sees a huge miner capitulation in the near-term.

Nakamoto designed that the gradual reduction of rewards would slow down the number of bitcoins minted every 10 minutes. With a hard-capped supply of 21 million, BTC is on track to becoming one of the most scarce assets in the world.

As the supply shrinks, assuming the demand remains constant, the price is expected to skyrocket and print new all-time highs. The impact of the third halving on the price of bitcoin is, however, a hotly debated topic in the cryptocurrency community. While some believe the halving is basically a non-event, others are certain that it is very bullish for the price of bitcoin in the coming months based on historic performance.

However, due to the unpredictability of the cryptocurrency market, whichever way the bitcoin price or miners may go remains to be seen. The digital asset is valued at $8,685.33 at press time, with 0.22 percent gains over the last 24-hour period.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

Cryptocurrency Bitcoin Halving Again

Cryptocurrency Bitcoin Halving Again

By RTTNews Staff Writer | Published: 5/11/2020 12:04 PM ET

The world's most popular cryptocurrency Bitcoin (BTC) is set to halve again for a third time. This means the reward given to Bitcoin miners for processing transactions is being cut by 50 percent. This also means that the rate at which new Bitcoins enter circulations are halved.

Bitcoin has generally ended with higher prices after the completion of halving, as it happened during the halving in November 2012 and July 2016. It all began in 2007, when the total number of new Bitcoin mined by miners per block was at 50 or 50 Bitcoins entering circulation every 10 minutes, which is the normally quoted Bitcoin block time.

The halving was necessitated nearly every four years as Bitcoin's anonymous inventor Satoshi Nakamoto decided that only 21 million BTC would ever exist. The total number of Bitcoin mined by miners per block was reduced to 25 BTC in 2012 and it was further halved to 12.5 BTC in 2016. It is now being slashed to 6.25 BTC.

New Bitcoin mined by miners per block is also called block reward, which is an important aspect of Bitcoin mining. This is the economic reward for the mining activity, which involves high power mining systems and usage of an enormous amount of electricity.

In anticipation of today's Bitcoin halving event, BTC has been volatile for the past few days with the price of BTC touching $10,000 last week and crashing more than $2,000 in the past two days to hit a price of $8,100. BTC is currently trading at 8941.29, up 3.02 percent in the past 24 hours.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

Bitcoin BTC Whale Leaves Twitter Reappears on Bitfinex Pulse

Bitcoin (BTC) Whale Leaves Twitter, Reappears on Bitfinex Pulse

@Joe007 bid farewell to Crypto Twitter only to reappear on Bitfinex's social network, Pulse.

John P. Njui   •   BITCOIN NEWS   •   May 10, 2020   •   2 Min read

In brief:

  • @Joe007 is a famous Bitcoin whale who for a long time, thrived on Twitter.
  • His trades were legendary with his profits running into the millions on Bitfinex.
  • Days after moving on from Twitter, he has reemerged on Bitfinex pulse.

Earlier today, Bitcoin (BTC) pulled a fast one on unsuspecting traders as its value dropped quick and fast from around the $9,600 support zone to $8,100. This move came a few hours before the Bitcoin halving which is now a day away. Many traders were anticipating that such a dip would happen after the halving in a classic ‘buy the rumor, sell the news' type of way.

@Joe007 Leaves Twitter To Protect His Trading Setups

The sudden drop in price has had many retail traders concluding that it was Bitcoin whales who saw an opportunity to short BTC and did so en masse. One such whale who is famous for shorting Bitcoin is @Joe007 who recently walked away from crypto twitter on May 7th. @Joe007 deleted his Twitter account around the same time BTC hit $10,000. His departure led many to speculate that he left because of the loss he incurred from shorting BTC from around $6,800.

However, @Joe007 posted an elaborate thread on Twitter where he explained his departure as a way of protecting his trading setups:

…I can't really afford Twitter. There are many reasons why I can't stay, unfortunately.

Here is one. Trading is a dangerous, adversarial, high-stakes info game. It's played against best-in-class, looking for any advantage. Your trade results and views being public gives them too much advantage over you. There are tools reconstructing my portfolio out there already.

@Joe007 Reappears on Bitfinex Pulse

However, trader @Joe007 has reappeared on Bitfinex Pulse commenting on the recent sudden drop of Bitcoin via the following meme that was brought to our attention by the exchange's CTO, Paolo Ardoino.

What is Bitfinex Pulse?

Launched in late April this year, Bitfinex Pulse is the crypto exchange's homegrown social network that lets traders connect with each other and perhaps share ideas. The main aim of the platform is to provide an avenue for crypto content sharing. The announcement by Bitfinex launching the platform further explains this as follows.

In response to customer demand, we're excited to announce the launch of Bitfinex Pulse, a social networking platform enabling our customers to connect with each other and get a trading edge.

The launch of Bitfinex Pulse provides our growing customer base with a specialist crypto content distribution platform for traders. The platform will serve as an intuitive and fun way for our users to interact and share crypto news and views on market trends and developments.

(Feature image courtesy of Todd Cravens on Unsplash.)

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe