So much has happened this week! We saw a capitulation point of bitcoin before bears took over and we saw the selling pressure push Bitcoin down toward the $9000USD mark then move back up above $9100USD So far it has been a stable hold, however we may see some more action within the coming weeks.submitted by IOTAbesomewhere to Gravychain [link] [comments]
Widespread scamming within the Twitter-sphere, Youtube and other platforms as Bitcoin and other cryptocurrencies may seem like fair game. Cryptocurrencies providing big payouts for scammers without the ability for reversals of accounts. Remember if something seems too good to be true, do some research or just plain do not respond/believe it. Stay safe and careful with your funds!
On the brightside, there has been even more adoption of cryptocurrencies as rumours of Paypal utilising cryptocurrency has been confirmed as they are developing crypto capabilities. In addition to this we received exciting news at the start of this week about Binance partnering with Swipe (SXP) and offering a debit card to spend BNB, SXP, BTC and BUSD. ( I will be keeping a swift eye on BNB and Swipe as its utilisation as tokens has just increased 43 fold).
Positive news for the Bitcoin network as its hashrate reaches all time high which helps to secure the network further even though mining profits have dropped by 50% from the recent halving. If you didn't know already the last Bitcoin will be expected to be mined in 2140 with its difficulty ever increasing and each time securing the network further. Processing units will have to become faster, stronger and most importantly more cost effective to continue to entice miners for the block rewards and further renewable energy practices.
Furthermore we can see Central banks and countries discussing and developing Central Bank Digital Currencies (CBDC). Read more about it here https://www.investopedia.com/terms/c/central-bank-digital-currency-cbdc.asp and check out some of the developments in the world above. This shows the popularity and strong nature of cryptocurrencies. As the saying goes "If you cant beat them, JOIN them".
Overall, very solid week full of adoption, animation and anticipation. Another post next week for a weekly round up! See you then but in the mean time join us at our Gravychain Discord.
- DISCORD LINK: https://discord.gg/zxXXyuJ 🍕 Bring some virtual pizza to share 🍕
Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments!
Big thanks to our Telegram and My Crypto HQ for the constant news updates! - The Gravychain Collective: https://t.me/gravychain - My Crypto HQ: https://t.me/My_Crypto_HQ
Binance Research, the research arm of global crypto exchange Binance, has collated a series of predictions that Bitcoin market dominance will reach a figure of around 80% by the year 2020.. In this Q2 survey, it said that more than half of all the VIP and institutional clients it surveyed believed that Bitcoin dominance would be in the 40-60% range by the end of this year alone. Bitcoin Pizza Day: On 22 May, eight years ago he paid BTC 10,000 for the two most expensive pizzas in history. Today he has done it again, to demonstrate that the Lighting Network works. Bitcoin Pizza Day, Laszlo insists and pays in satoshis. Leggi qui l’articolo in Italiano. These pies quickly became likely candidates for the most expensive pizzas of all time: at Bitcoin’s all-time high in December 2014, the pizzas would have been worth an eye-watering $11.47 million. Safety concerns – July 2011. Bitcoin’s growth quickly attracted the attention of criminals. Question marks were raised when several Bitcoin accounts started getting hacked and were found empty ... The volunteer then ordered the Florida programmer a pizza from Papa John’s. Quite an expensive pizza, as 10,000 bitcoin is worth around $100,000,000 today. Silk Road is open for business. In January 2011 the Silk Road, a dark-web marketplace for all kinds of items, including illicit drugs, is established. Bitcoin catches the eye When Bitcoin first appeared, no one really thought a Satoshi would have any real value. But on 22nd May 2010, Laszlo Hanyec bought a pizza for 10,000 Bitcoins. (1 Bitcoin then was at USD 0.0025) Today that pizza is worth $71,000,000 US Dollars. So how do you value the price of one bitcoin? Binance, one of the largest cryptocurrency exchanges by volume, is issuing a bitcoin-backed token, the firm announced in a blog post on Monday.The post Binance launches bitcoin-pegged token on ...
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