Twitter: the Only Thing a Person Can Truly Own Is Bitcoin

Yesterday, the whole world congratulated Bitcoin with its anniversary, the twitter community wished the most popular crypto only one thing — growth. Let’s remember how it was and join the congratulations

It may be geins for some people, but for humanity it is just idiotic. At the moment, probably 0,5% of the electricity consumed (& produced) in the world is used for mining cybermoney, and it creates enormous amounts of internet traffic. There is better ways to use these resources.

  • @real_vijay: ‘When the Bitcoin network launched in 2009, very few people understood its significance. Today, ten years later, Bitcoin's market capitalization stands at over 100 billion dollars.
    The great Hal Finney RIP, the first person to receive bitcoins from Satoshi, grokked its import:’
  • @simondlr: ‘Happy birthday Bitcoin!’
  • @francispouliot_: ‘The email thread started 10 years ago by Satoshi's introducing Bitcoin to his fellow cypherpunks is mind-blowing.
    Fixed supply (gold standard), off-chain scaling discussed within 10 days. Surreal foresight.’
  • @dstadulis: ‘Roger can secretly re-long or re-short
    Certainly but they're limited to their available capital and suffer other opportunity costs.  An alternative bet: 'How many puts will you write to insure the price of bcash'? You want to force your opponent to be harmed if they're wrong.’
  • @medicicrypto: ‘Once expected asteroid prospecting by early 2020s, now bought by Consensys..’

Bitcoin

BTC
Price
8,744 USD 0.43%
Volume, 24h
3,497,717,274 USD
0.00%
Marketcap
153,922,072,217 USD
56%
Emission
84%

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Week in Review: Bitcoin Is Unexpectedly Bearish

At press time, bitcoin is trading for just over $8,400. Bitcoin: Bearish All Over Again? This figure marks a drop of roughly $700 over the past few days. The currency is incurring some very strange behavior as of late, though there doesn’t seem to be much of an explanation regarding why this behavior is happening. Let’s start off with the basics. To do this, we must go back to the end of October, when bitcoin was really trapped in a rut following the disappointing opening of Bakkt and the Mark Zuckerberg hearing regarding Libra, Facebook’s new cryptocurrency project. At that time, the currency was traversing through the doldrums and trading in the mid-$7,000 range, a new low considering it had been doing relatively will since the summer despite a few drops here and there. Then came some positive comments regarding blockchain technology from Chinese president Xi Jinping, who said that blockchain had the power to reinvigorate the economy of China and potentially rebuild its infrastructure. He further stated he would do everything in his power to push blockchain innovation within the country. This proved substantial to the bitcoin price, which spiked to nearly $8,600 following the comments. However, from there, Bakkt continued to improve its present status and ultimately found itself trading more than $2 million in bitcoin futures contracts, which also assisted in the currency’s sudden rise to power. BTC once again found itself trading in the $9,000 range – something it hadn’t done since late September. Thus, more than a month passed before the currency was able to regain its stamina. However, as of late, bitcoin appears to be back on bearish terms, having lost several hundred dollars from its price within the last few days. Things started out ugly when during the beginning of the week, BTC fell to about $8,800. People largely dismissed this fall, saying it was only $300, though it did inspire some to keep a watchful eye out. From there, bitcoin fell to $8,600, knocking another $200 of its price, and at the time of writing, another $200 has vanished. What’s Up with the Drops, Lately? It is strange that the currency could once again be falling into negative territory considering all that’s been done to improve it over the past month. At the same time, it’s important to remember that we are, indeed, dealing with bitcoin, which is arguably one of the most volatile assets in existence. Regardless of how high it spikes this seems to be a never-ending problem for what many refer to as “digital gold.” At the same time, there are those that continue to remain adamant about its abilities. One such figure is Tim Draper, who recently commented that the currency would hit $250,000 within the next few years and Tom Lee, who continues to remain positive regarding where BTC’s price can go. The post Week in Review: Bitcoin Is Unexpectedly Bearish appeared first on Live Bitcoin News.
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