Report: Bitcoin Mining Firm Northern Data AG Plans for a $500 Million IPO

Report: Bitcoin Mining Firm Northern Data AG Plans for a $500 Million IPO

While the public prepares for the upcoming Coinbase public offering, the mining firm Northern Data AG is reportedly planning to go public as well. Sources say that the mining business is in talks with Credit Suisse Group to launch an initial public offering (IPO) in the United States.

Report: Sources Say Northern Data AG IPO for $500 Million Is in the Works

Recent reports say that Northern Data AG, the mining operation that mines bitcoin (BTC), is planning to IPO in the near future. Bloomberg reveals that “sources familiar with the matter” have told the publication that Northern Data AG is “working with Credit Suisse Group AG.”

Northern Data claims to be one of the largest mining operations worldwide and on November 18, 2019, the German company teamed up with Whinstone US, Inc., a Louisiana-based firm.

At that time, Northern Data detailed that the merger agreement with its U.S. competitor Whinstone would position the firm as a “leading global player” in the bitcoin mining industry. Northern Data claims the mining site in the U.S. state of Louisiana will be “by far the largest bitcoin mining facility worldwide with a capacity of one gigawatt on an area of over 100 acres in Texas.”

The Bloomberg report reveals that Northern Data’s IPO could happen this year and the sale of the company’s shares would increase shareholders.

Northern Data’s shares already swap over-the-counter (OTC) on Deutsche Börse’s Xetra. Since bitcoin (BTC) prices tumbled during the last 48 hours, Northern Data’s shares sold on Xetra are down -11.51% today. However, the company’s stock has jumped 3x already this year alone since BTC’s climatic price rise.

Company Aims to Complete 1-Gigawatt US Bitcoin Mining Operation by the End of 2021

Northern Data also reportedly owns and operates a renewable energy bitcoin mining site in Norway. The bitcoin mining operation is led by CEO Aroosh Thillainathan and the massive U.S. mining site is being constructed in three phases.

Besides the other mining sites, the Rockdale, Texas facility aims to be the company’s largest to date. With two more months left in Q1 2021, Northern Data is hoping to finish the 1-gigawatt establishment by the year’s end.

Back in 2019, Thillainathan, the cofounder of Whinstone US at the time, said “the joint [partnership] has the immediate potential to shape the future course of the global mining industry.” Reports of Northern Data’s alleged IPO follow the upcoming Coinbase direct sale, as the San Fransico company has been valued at $100 billion. Northern Data’s IPO aims to raise $500 million according to sources.

What do you think about Northern Data reportedly planning to IPO with Credit Suisse Group AG? Let us know what you think about this subject in the comments section below.

Topps Garbage Pail Kids Blockchain Collectibles Can Be Found at Target and Walmart

Topps Garbage Pail Kids Blockchain Collectibles Can Be Found at Target and Walmart

The popular trading card company Topps has just launched the “2021 Garbage Pail Kids Food Fight” series today, and the trading card packs are being sold at Target and Walmart stores. Not only will the Garbage Pail Kids (GPK) series provide people with collectible cardboard trading cards, Topps has also inserted blockchain-based rare code cards, which can be redeemed for exclusive GPK non-fungible token (NFT) collectibles on the Wax blockchain.

Blockchain and GPK

Since the eighties, the Garbage Pail Kids (GPK) has been a popular trading card series created by the company Topps. The firm Topps was founded in 1938 and has created collectible cards for a myriad of sports and hobbies for decades. Topps also owns Bazooka bubblegum, Ring Pop, Push Pop, and Baby Bottle Pop candies.

Topps Garbage Pail Kids Blockchain Collectibles Can Be Found at Target and Walmart
The Garbage Pail Kids launched in 1985 and were distributed by the trading card company Topps. GPK artwork was originally designed by the artists’ John Pound, Tom Bunk, Joe Simko, and Layron DeJarnette. In 2020, Topps launched the first iterations of digital GPKs on the Wax blockchain as shown above.

More recently, GPK cards have grown in popularity again, after making headlines back in the eighties. Series one packs of GPK originals from 1985, specifically the glossy card series, can rake in thousands of dollars. Meanwhile, since the birth of Bitcoin, blockchain technology has transformed not only finance, but other industries like art and collectibles. Last year, Topps joined forces with the wax.io (Wax blockchain) team and released the first iterations of digital GPK collectibles.

“Blockchain technology allows collectors to enter a marketplace where they can purchase digital Garbage Pail Kids trading cards,” the Topps website called topps.wdny.io notes. “[Collectors can] propose and execute trades, showcase their inventory on social media, and search wishlists of other traders.”

Topps Launches 2021 Garbage Pail Kids Food Fight Series With Chances to Win Wax Blockchain GPK NFTs

The blockchain Wax allows people to create, buy, sell, and trade virtual NFTs and physical items as well. Since 2017, the Wax network claims it has facilitated more than 100 million digital item swaps. This week, Topps is releasing the “2021 Topps Garbage Pail Kids Food Fight” series, which will be sold like any other annual GPK sets at Targets and Walmarts.

Topps Garbage Pail Kids Blockchain Collectibles Can Be Found at Target and Walmart

Boxes and packs of physical cards will have a chance to win a rare code card that can be used to redeem GPK Wax blockchain collectibles. The announcement details that there are 11 original pieces and a number of exclusive digital variants.

“On Feb. 24, 2021, Topps is releasing physical packs in Walmart and Target. On Feb 25, 2021, the digital version will be released on the Wax blockchain,” Topps said during the announcement. “Physical card collectors may also receive an exclusive redemption code card in the physical packs that will award exclusive digital collectibles on the Wax blockchain. Further Digital packs for the exclusive ‘b’ character names can be purchased directly on Wax during Topps Digital’s Wintercon 2021 beginning on February 25.” GPK fans can check out the cards at the wax.io website.

Topps executive and Topps Digicast Host, Marc Seal further said:

When I joined Topps two years ago, our VP, Tobin Lent, and I had discussed blockchain in depth and what it could mean for digital collectibles. We both, along with many others at Topps, see the amazing potential for blockchain.

Non-fungible tokens and blockchain-based collectibles have been all the rage since 2020 and millions of dollars in trades have been executed on NFT marketplaces. Just recently, individuals have been trading the NFT-based basketball trading cards called “NBA Top Shots.” On Monday, 27,000 unique individuals purchased NBA Top Shots cards and volume topped more than $32 million in sales.

What do you think about Topps and the Wax blockchain team releasing digital GPK cards in physical packs at select Target and Walmart stores? Let us know what you think about this subject in the comments section below.

Bitcoin Price Drops 18%, Fed Discusses ‘Soft’ Inflation, Analyst Says BTC Sell-Off Attracts More Investors

Bitcoin Price Drops 18%, Fed Discusses 'Soft' Inflation, Analyst Says BTC Sell-Off Attracts More Investors

Digital asset markets are seeing some turbulence on Tuesday as the entire crypto market capitalization has lost 11% in value during the last 24 hours. Bitcoin has slid to a low of $44,846 during the morning trading sessions (EST) losing more than 18% during the last day.

Bitcoin Price Dips Over 18% and Quickly Regains Some of the Losses

Cryptocurrency proponents are watching markets closely after the price of bitcoin (BTC) started sliding early Sunday morning after coasting along at the $55k range. 12 hours prior the crypto asset had reached an all-time high at $58,354 per unit. Since then BTC touched a low of $44,846 on Tuesday and has been very volatile during the last 24 hours.

Bitcoin Price Drops 18%, Fed Discusses 'Soft' Inflation, Analyst Says BTC Sell-Off Attracts More Investors
Bitcoin (BTC) is currently swapping between $48,400 to $49,250 and is very volatile on Tuesday morning.

Today, BTC’s market valuation is under the $1 trillion mark it once held at $909 billion at the time of publication. There’s a whopping $47 billion in global BTC trades among the overall $177 billion in swaps across the entire crypto economy.

Bitcoin Price Drops 18%, Fed Discusses 'Soft' Inflation, Analyst Says BTC Sell-Off Attracts More Investors
The top five crypto positions on Feb. 23, 2021. BTC has been between $48,400 and even close to the $50k range on Tuesday morning (Eastern Standard).

The second-largest market cap is still held by ethereum (ETH) but ether is down 8% at the time of writing. Currently, ETH is swapping for $1,576 per coin and has a market valuation of around $180 billion.

Tether has regained the third-position in the top ten rankings, while binance coin (BNB) now holds the fourth spot. BNB is down 14% and trading for $227 per token. The fifth position is held by polkadot (DOT) which is down over 5% and swapping for $34 per unit.

‘Soft’ Inflation, Fed Could Scale Treasuries Purchases Fueling Bitcoin

Meanwhile, as crypto assets took a dive during the last 24 hours, stocks have slid as well while the Federal Reserve Chair Jerome Powell testified to Congress. Powell didn’t seem phased by the dreadful U.S. economic outlook and rising bond yields.

Bitcoin Price Drops 18%, Fed Discusses 'Soft' Inflation, Analyst Says BTC Sell-Off Attracts More Investors
Fed Chair Jerome Powell.

The Fed Chair noted that inflation was “soft” and the central bank would be there with continued fiscal policy. The cryptocurrency analyst Ben Lilly explained in a recent blog post that this is bullish. “If the Fed does scale up their purchase of Treasuries, then this can be bullish for bitcoin,” Lilly stressed.

‘Sell-Off Will Attract More investors Long-Term’

Simon Peters, the crypto-asset analyst at the multi-asset investment platform Etoro also says the sell-off is part of a global downfall. Today’s correction for crypto assets is part of a wider sell-off in markets globally,” Peters wrote in a note to investors.

“Being driven by profit-taking,” Peters continued. “Investors are closing positions, which will have generated significant gains for many of them. However, as positions are being closed and prices fall, Etoro data shows even more new investors are coming on stream for the first time and buying bitcoin, with 26% more opened positions than closed ones in the last seven days (to Monday).”

Peters continued by adding:

The sell-off will attract more investors long-term. However, in the short-term some we will see some volatility, as we are today. We still see great potential for bitcoin and peers as we move through the year.

Meanwhile, after the fall under the $45k handle, BTC has managed to jump back above $48k for the time being. So far, people are curious as to where the crypto asset will be headed next after a crazy run-up to the $58k+ territory last week.

What do you think about this week’s crypto sell-off? Let us know what you think about this subject in the comments section below.

Cape Cod’s Largest Hospital Gets Bitcoin Donations Worth $800K

Cape Cod's Largest Hospital Gets Bitcoin Donations Worth $800K

One of Cape Cod’s largest hospitals received two bitcoin donations this year totaling $800,000 in value. The Massachusetts-based not-for-profit medical centre (NPO), Cape Cod Healthcare, explained that an anonymous donor donated $400k last Friday and the NPO received a $400k bitcoin donation last month as well.

Cape Cod Healthcare Gets $800K in Bitcoin Donations

The hospital Cape Cod Healthcare (CCHC) is considered one of the leading providers of healthcare services in Cape Cod, Massachusetts. This week, the NPO told the Boston Globe staff member Anissa Gardizy that it received two bitcoin (BTC) donations worth $800,000.

CCHC’s senior vice president and chief development officer, Christopher Lawson, said the donor wished to remain anonymous and sent an email last month asking the hospital to accept BTC donations. Lawson said the donor had helped CCHC before the two crypto donations, and had just recently asked if the hospital would accept his BTC gift.

Lawson told Gardizy that before accepting the donation, the administration had to see if the hospital could deal with transactions sent in cryptocurrency.

“Before we responded, Lawson said. “We had to make sure there were not any issues. It required a good amount of research,” he added. “My office probably spent a week or two doing our best to learn who else was doing this.”

After getting approval from CCHC’s finance department and the hospital’s CEO Mike Lauf, the firm launched a donation address. Lawson said that because the donor gave the $800k worth of bitcoins to the hospital, he will be free from paying taxes on the funds.

“It makes it an asset that is attractive to donate,” Lawson stressed. “You get maximum impact on the value, and any gains you get, much like stock, you don’t pay the tax,” the hospital administrator added. Lawson did detail, however, that the CCHC finance team immediately converts the donations to dollars.

Mainstream Acceptance

The first $400k donation was sent on January 28, 2021, and the following month on February 19, the donor sent another $400k worth of bitcoins. CCHC’s senior vice president said that other NPOs could also set up bitcoin donation support in order to accept the crypto asset.

“I’m really excited. We are coming out of a period during COVID when donations were hard to come by for a lot of folks,” Lawson emphasized. “This lets people know that we have the capability of accepting these cryptocurrencies in donation, and we have the infrastructure in place.” Back in May, Cape Cod Healthcare furloughed more than 600 employees.

“It is not widespread but it is becoming more mainstream,” Lawson concluded. “People are accumulating these assets, and they are looking at opportunities to donate them,” he added.

What do you think about the two bitcoin donations totaling $800k sent to Cape Cod Healthcare? Let us know what you think about this subject in the comments section below.

Researcher Finds an Old Twitter Profile May Have Been Satoshi Nakamoto’s Account

On February 22, 2021, an author published a post on substack.com about an anonymous Twitter account that may have belonged to the mysterious Satoshi Nakamoto. The researcher discovered a Twitter account dubbed ‘Goldlover,’ and found some interesting coincidences with the account’s tweets and Bitcoin’s creator.

The Curious Goldlover Tweets

An author called Varun published an interesting analysis of a specific Twitter account that may or may not belong to Bitcoin’s creator. Varun said in his research analysis that he stumbled upon the Twitter account called ‘Goldlover,’ and noticed that the account was quite “chatty” for a period of time.

The researcher also said that Satoshi Nakamoto was the same way up until the inventor left the community for good. The Goldlover account (@fafcffacfff) was created in May 2008 and Varun says that a script was written. The Goldlover tweets mentioned gold quite often, and Varun’s findings suggest that the ‘gold’ terminology may be in reference to “Bit Gold.”

“The Wall of Interesting Tweets” compiled in Varun’s blog post. (Image credit: Varun – offthetrack.substack.com)

“On September 17th, 2008, this account made a reference to Digital Gold Currency,” Varun’s post highlights. “In between an incredible amount of nonsensical tweets about gold, sometimes there would be tweets which referenced decentralization, financial crisis, people losing their homes, fiat currency, criticism of the Federal Reserve,” Varun says. “These are all hallmarks of talking points used by Satoshi in his emails and forum posts which are well known, post-Bitcoin announcement.”

For instance, on December 19, 2008, Goldlover said:

The Great Stock Panic of 2008 was so mercilessly brutal that no sector escaped its ravages.

What is also quite interesting is that no other Twitter accounts back in January 2009, except for Hal Finney, tweeted about Bitcoin. “Based on all of this, this is good enough for me to feel quite confident that this indeed was Satoshi’s original anonymous Twitter account,” Varun notes.

On January 11, 2009, Hal Finney tweeted about the crypto asset and not too long after that Goldlover wrote: “From: Satoshi Nakamoto – 2009-01-11 22:32 Bitcoin v0.1.2 is now available for d.”

The very same day on January 29, 2009, Goldlover also said:

It's completely decentralized with no server or trusted parties.

Exploring the Limitless Depths of Satoshi’s Mind

Ever since Varun published his post about the alleged Satoshi Nakamoto Twitter account, people have been interacting with Goldlover’s 12-year-old tweets.

“Thanks for changing the world Satoshi,” an individual wrote on Monday.

“Feeling sufficiently anonymous with this cryptic account run since May 2008, this might have been a slip to now start linking up and showing up as the 2nd tweet ever to mention Bitcoin,” Varun’s substack.com blog post states. “If Hal was Satoshi, then why continue tweeting from this unknown account, which barely had any followers?” Varun asks. The researcher said that he could have slept in every Saturday morning, but this Twitter account had him on the hunt for Nakamoto.

The report concludes:

Having concluded this was Satoshi – we don’t know who, the rest of the tweets now provide an insight into his mindset, and each tweet here needs to be branched out and explored in limitless depths.

At the end of Varun’s theory, he left a mysterious tweet from Goldlover which talks about a treasure box with oranges in the sky.

“If you know where there are oranges in the sky in Winter Garden, you are on the right track for locating a treasure box,” Goldlover tweeted.

Just recently a group of armchair sleuths have been on the hunt for Satoshi’s stash of bitcoins because they believe Nakamoto left the coins to be the greatest treasure hunt ever. Despite the coincidences and the extremely old and cryptic tweets from Goldlover, we don’t know for sure if the Twitter account actually belonged to Satoshi, but today many people are speculating.

What do you think about the Goldlover Twitter account that may belong to Satoshi Nakamoto? Let us know what you think about this subject in the comments section below.

‘Bitcoin Is the Biggest Jailbreak in Human History,’ Says Philosopher Stefan Molyneux

'Bitcoin Is the Biggest Jailbreak in Human History,' Says Philosopher Stefan Molyneux

On February 19, the Canadian podcaster and Freedomain Radio host, Stefan Molyneux, discussed his thoughts about bitcoin following the crypto asset’s tumultuous rise capturing over a trillion-dollar market valuation. Molyneux’s recent speech describes the liberating potential bitcoin could bring to the masses and how the crypto network has the ability to change humanity for the better.

‘Bitcoin Is a Currency That Serves the People at the Expense of the Parasites’

Just recently the crypto evangelist and philosopher, Stefan Molyneux, spoke about the Bitcoin blockchain in great detail. Molyneux opened his speech by answering a question about BTC and ETH having a hard time scaling. The Freedomain radio host said that it is good to critique, but that people in the crypto space wouldn’t give up so easily.

Molyneux mentioned that bitcoin’s market capitalization just crossed the trillion-dollar milestone and noted that the people who have added that value won’t throw in the towel. He insisted that many crypto proponents have given a decade of their lives toward spreading adoption, and mentioned there are solutions like bitcoin cash (BCH) and the Lightning Network.

“The Bitcoin community is composed of just about the most brilliant, and economically and ideologically motivated human beings on the planet,” Molyneux stresses in his video. “Bet against them at your freaking peril, because Bitcoin is not just an alternative currency, it’s not just a store of value, it’s not just a cool public ledger. Bitcoin is a passionate FU to the powers that be,” Molyneux adds.

'Bitcoin Is the Biggest Jailbreak in Human History,' Says Philosopher Stefan Molyneux
Freedomain Radio philosopher and anarcho-capitalist, Stefan Molyneux.

The Freedomain philosopher continues: “Bitcoin, as I’ve argued publicly in speeches many years ago— Bitcoin is the potential end to war, to end hyperinflation, to end intergenerational debt— Bitcoin is a mission of mercy to the future— Bitcoin is the Jesus to the new conference of the religion of peace called crypto. Bitcoin is the people regaining control over their currency for the first time in the history of the world— Bitcoin is currency democratized, unpolitized, unpredatored.”

Molyneux added:

Bitcoin is a currency that serves the people at the expense of the parasites, rather than the currency which serves the parasites at the expense of the people at the moment. Bitcoin is rescuing your precious labor from being hoovered up endlessly by the invisible vampire mosquitoes of central banking.

Today’s Fiat Currency Is Slavery Tethered to Unborn Generations

The philosopher continues by commending the Bitcoin community and says that the people in crypto are “seriously brilliant.” Beautiful and “deranged people,” he says that are “committed to the future of peace and plenty that Bitcoin could represent.”

'Bitcoin Is the Biggest Jailbreak in Human History,' Says Philosopher Stefan Molyneux

Molyneux further notes that the current fiat currency distributed by the world’s oligarchic bureaucracy is “slavery.”

“What we understand is currency now is slavery. The currency is summoned into existence at the expense of your children’s futures. What you think of as a dollar sign is a slow jugular sucking noose twined and twisted around the necks of your children,” Molyneux reveals.

National debt, Molyneux continues to highlight is “a real human trafficking problem.” You need to understand the Bitcoin space he adds. “The passion that these incredibly brilliant people have brought to bear on the oldest human problem— How do you store a value so that thieving predatory vampiric assholes can’t get their jugular sucking tentacles on it at all times? How do you store value so that you can actually come back to it?” Molyneux asked.

He adds:

Civilization is all about the storing of value. How do you store value? That’s civilization you understand. Bitcoin is about how you store value so that [parasites] can’t get their hands on it. They just can’t. You put your money in the bank, inflation eats it away, you store your meat by the river, the flies lay their eggs in it and you can’t eat it, you got gold coins in Rome, they put all kinds of a bimetallic [crap] into the gold and destroy its value in your hand.

‘The Likes of a Revolution That We Have Never Ever Ever Seen Before in Human History’

Molyneux says that humans are all about storing value and in the evangelist’s opinion, the storage and retention of value is everything in life. “By creating something that can store value outside the state, that is the likes of a revolution that we have never ever ever seen before in human history,” the philosopher insists.

“If shells on some island are the currency,” Molyneux details in an analogy. “Then you need three shells a day to live, and if you get four shells, someone’s gonna take the fourth shell. Then tomorrow you won’t bother to get the fourth shell. You just stick with getting three shells and nothing will ever progress, because nothing can be saved or stored up in value. Nothing ever gets built because everything you build is going to be taken away from you,” he added.

'Bitcoin Is the Biggest Jailbreak in Human History,' Says Philosopher Stefan Molyneux
“Bitcoin is the biggest jailbreak in human history,’ Molyneux’s video highlights.

Molyneux continues: “Imagine… everything you build is going to get taken away. It’s happening [right] now, you understand. Everything you have built is already taken away by unfunded liabilities, national debt, inflation— Everything you build is already taken away. You are just holding it now to have it for a little while to give you the illusion so you can go to work tomorrow.”

Bitcoin Represents a New Financial System That Doesn’t Leverage the Unborn as Collateral

Molyneux says you can have a house. But it’s really not your house. He highlights that you have to pay the government every year to keep it.

“And the government put it in so much debt and you in so much debt, that it’s gonna be owned by some foreign bankster, at some point,” Molyneux’s speech details. “Or the entire currency is going to collapse and society goes back to savage gangs and you lose your house. You pretend you have a house, you pretend you have electricity, you pretend you have a car, you pretend you have everything but you have nothing.”

The Freedomain radio host further says:

You know this 2030 ‘you’ll own nothing and you’ll be happy,’ [that’s the way it is] now. In fact you owe, you don’t own, you owe. You are only allowed to pretend you own something so that you will get up and go to work tomorrow. That’s it man.

Bitcoin has changed this course, Molyneux emphasizes. Bitcoin is the first of its kind that can actually keep parasites away from stealing value he notes. He says that the society we live in today treats babies and the unborn as “collateral.” Bitcoin can bolster a system that does away with such an immoral system.

“If you generally understood how much debt was taken out on your behalf just because you are breathing,” Molyneux notes. “If you genuinely looked at that math, you can find it pretty easy,” he added.

Molyneux’s speech continues for another 20 minutes longer, and news.Bitcoin.com readers can watch the rest of his speech here.

What do you think about Stefan Molyneux’s recent Bitcoin speech? Let us know what you think about this subject in the comments section below.

Bitcoin Hashrate Hits 180 Exahash, Mining Difficulty Climbs Higher, Pools Jump by 35%

The price of bitcoin has climbed to phenomenal heights during the last few weeks and this has fueled the crypto asset’s mining sector a great deal. Despite the fact that the Bitcoin network’s mining difficulty has never been higher at 21.72 trillion, the hashrate has climbed to a whopping 180 exahash per second (EH/s) and there’s 23 mining pools dedicating significant hashrate to the Bitcoin blockchain.

180 Exahash and a 21.72 Trillion Difficulty

Bitcoin (BTC) continues to climb higher and higher in value and on Sunday the crypto asset tapped another all-time price high. BTC reached a whopping $58,300 price per unit on February 21, and the asset’s market valuation captured 1.09 trillion in value. The price of BTC has made bitcoin mining extremely profitable as next-generation mining rigs are making bountiful profits.

For instance, the Microbt manufactured Whatsminer M30S++ with 112 terahash per second (TH/s) gets $37 a day. The popular Bitmain Antminer S19 Pro (110 TH/s) gets a touch above $36 per day in BTC. This is using today’s extremely high mining difficulty and electric prices at $0.07 per kilowatt-hour (kWh). Older generation mining rigs like Bitmain S9s and other 10-14 TH/s machines are also making profits.

The high difficulty percentage has never been larger in Bitcoin’s lifetime as the difficulty today is 21,724,134,900,047 (21.72T). The next difficulty change is expected to happen in 12 days and the mining difficulty is likely to go higher if the hashrate and if the price stays consistent. BTC’s difficulty will jump a percentage to 21.94 trillion on or around March 5, 2021. This is due to BTC’s hashrate remaining very high and tapping 180 exahash per second (EH/s) this week. At the time of publication, the hashrate is around 163 EH/s.

Bitcoin Mining Pool Participation Jumps by 35% in 30 Days

The hashrate surge is due to the additional mining pools joining in on the fresh profits. A few weeks ago 17-18 pools pointed hashrate at the BTC chain and now there’s 22-23 pools. The top gun in the BTC mining operation business is F2pool as it has held the number one position for months on end. That’s because F2pool commands 18.92% of the network’s overall hashrate with over 28 EH/s dedicated to the BTC blockchain.

Poolin follows behind with 15% of the hashrate and 23 exahash, Btc.com captures 12.1% with its 18 EH/s, and Binance Pool commands 11% of the hashrate with 17.5 EH/s. The fifth-largest BTC mining pool today is Antpool which has 8% of the network hash and 13 EH/s.

Pools like Viabtc, Huobi, 1thash, Slushpool, and Lubian have around 2.4% to 7.4% of the network hashrate respectively. Following those five pools is an unknown operation, Btc.top, Spiderpool, Emcdpool, and Novablock. All of which capture around 1 to 2.4 EH/s and most of the hashrate belongs to the stealth mining operation.

Bitcoin mining has always been competitive and hard, but in 2021 it has never been more difficult to secure a BTC block with 6.25 BTC and tethered fees. Nevertheless, miners continue to shatter new hashrate highs, and difficulty continues to climb because of this factor.

What do you think about the Bitcoin network’s difficulty obtaining all-time highs and the challenging mining difficulty increases as well? Let us know what you think about the bitcoin mining topic in the comments section below.

Pricing Gold, Food, and Altcoins With the BTC Denominator: How to Measure an Asset’s Worth in Bitcoin

On February 21, bitcoin touched a lifetime price high at $57,844 per unit after the crypto asset’s market valuation crossed the $1 trillion zone for the first time in history the day prior. Meanwhile, a number of digital assets have seen fiat values increase as coins like litecoin, ethereum, and others gather gains against the U.S. dollar. However, when bitcoin is the base denominator in terms of value, a lot of coins have a long way to go to catch up.

Measuring Alternative Crypto Assets With Bitcoin

The crypto asset bitcoin (BTC) has seen phenomenal gains and a lot of other digital currencies have seen price increases as well. For instance, ethereum (ETH) is the second-largest digital asset in terms of market capitalization, and ETH has touched the $2,040 price range.

Now ETH has seen pretty decent gains against the U.S. dollar, as it up a decent 76.32% during the last month, and 249.90% over the last three months. Traditionally people price everything in their local fiat currency like U.S. dollars or euros, but things look a whole lot different when other crypto assets are priced against or with BTC.

Pricing Gold, Food, and Altcoins With the BTC Denominator: How to Measure an Asset's Worth in Bitcoin
Bitcoin (BTC) hit an all-time price high on February 21, 2021, hitting $57,844 per unit against the U.S. dollar. But what if we measured other assets in BTC?

For instance, data from messari.io shows an ether priced in bitcoin is worth 0.0341 BTC and on Tradingview the price is a hair higher at 0.0343 BTC at the time of publication. Now even though ether has seen decent gains against the U.S. dollar in 2021, it was a lot higher in comparison to BTC back in 2018.

Pricing Gold, Food, and Altcoins With the BTC Denominator: How to Measure an Asset's Worth in Bitcoin
In 2018, a person could get a whole lot more BTC with a single ETH. This year, an individual will get far less BTC with a single ether.

At that time in January 2018, a single ETH was around 0.1090 BTC. Bitcoin’s price at the time was around a third of what it is today, while ether’s value was closer to where it was back then albeit a touch higher. The same can be said for a myriad of other alternative assets in the crypto economy.

Litecoin (LTC) is a good example, as LTC is a cryptocurrency with a market valuation of around $15.5 billion and holds the eighth largest valued market cap. Against fiat, LTC has done well this year increasing over 66% during the last month against the U.S. dollar.

Pricing Gold, Food, and Altcoins With the BTC Denominator: How to Measure an Asset's Worth in Bitcoin
Litecoin (LTC) also was worth a whole lot more in BTC terms back in February 2018.

LTC has gained 157% against the dollar for the last three months, but has yet to capture the coin’s all-time high (ATH). Litecoin is still 38% away from the ATH three years ago, which was $369.32 per LTC. Back in February 2018, a single LTC was around 0.019533 BTC but today one LTC is swapping for 0.003966 BTC.

Pricing Everything in Bitcoin Gives a Different Perspective

People can price anything in BTC and in other common denominators or vice versa. For instance, a person can get a 2021 Lamborghini Huracan EVO today for 5.08 BTC, a brand new Honda Accord is only 0.44 BTC. You can get a pristine 3.0-carat diamond ring for a single BTC and 0.12 BTC buys the average American food for a whole year.

Pricing Gold, Food, and Altcoins With the BTC Denominator: How to Measure an Asset's Worth in Bitcoin

Back in the day when a single coin crossed parity with a single Federal Reserve note ($1), it was a milestone. Then years later, it passed the value of one troy ounce of fine silver ($27), and everyone noticed.

Years later the price surpassed the value of one troy ounce of fine gold and that definitely got some attention. On Saturday, BTC ripped into another ATH and crossed parity with one kilo of fine gold. The fact of the matter is, the common denominator can be perceived a whole lot differently when measuring things in BTC or against it.

What do you think about measuring assets and other cryptocurrencies in bitcoin? Let us know what you think about this subject in the comments section below.

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets

The mainstream has caught a whiff of the gains cryptocurrencies like bitcoin and ethereum have seen, but many people are not aware of the passive income crypto users are getting as well. While financial incumbents are giving people with savings accounts a measly 0.35% to 0.60%, digital currencies can give people 1-17% or even more by leveraging certain tactics.

Crypto Returns That Outpace the Savings Account

You may have heard the term “make your money work for you” in the past, and that’s what savings accounts do if they earn a percentage of interest over time. Certainly, a person can be a bit riskier and invest in stocks and such but with a savings account, the money simply sits there and accrues a return over a period of time. The more money held, the more interest an account will get but these days banks don’t like giving interest. We can see that some of the top banks in the world will only give 0.35% to 0.60% returns according to the best savings account rates on bankrate.com.

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets
Today’s bank rates don’t offer a person who is saving high returns, none of them even offer 1%.

Now you can do the same thing with cryptocurrencies and get a much better annual percentage yield (APY). A lot of centralized exchanges offer anywhere between 1-12% in interest for staking or holding a digital asset on the trading platform for a period of time. For instance, on the trading platform Coinbase you can earn 1.25% APY for holding USDC. Coinbase aso offers earning rewards for staking algorand (ALGO), cosmos (ATOM), and tezos (XTZ). These three coins see payout rates either daily (ALGO), every three days (XTZ), and once a week (ATOM).

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets

People can also leverage the exchange Crypto.com, which gives customers up to 2% to 6.5% per annum (PA) for a myriad of cryptocurrencies and up to 12% for holding specific stablecoins. Crypto.com users can choose an interest rate by selecting a term which can either be flexible, one month long, and three months long.

Flexible means you can withdraw and use the cryptocurrencies at any time and you can get 2% for supported crypto assets and 8% for stablecoins. A 30-day term with Crypto.com gets the person 4.5% for the average crypto asset, while stablecoins will get up to 10%. 90-day terms accrue 6.5% for coins like ETH and BTC, and stablecoins like USDC can get up to 12%.

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets
The San Francisco-based exchange Coinbase has started offering savings rewards for certain coins and staking rewards as well.

Coinbase and Crypto.com are not the only exchanges or custodial solutions that offer interest bearing accounts. Other interest-bearing products are offered by Blockfi, Linus, Outlet Finance, Gemini, Kraken, Youhodler, Coinloan, Nexo, and the Celsius Network. Each and everyone has different terms and interest rates depending on the crypto asset being held.

Most of these platforms offer higher percentage rates for stablecoins, as fiat-backed crypto assets can get savers larger returns. Of course, custodial solutions are coins held with a third-party, and people opting to gather interest in this fashion should understand there’s a greater risk. A custodial platform could fake reserves, get hacked, or even run the business into the ground by making poor business decisions. As the old adage goes “not your keys, not your coins,” so holding funds on an exchange means you are trusting them.

Leveraging Proof-of-Stake Tokens, Ethereum 2.0 Staking

Individuals who want to make passive income can also do so by leveraging noncustodial platforms and staking concepts. Staking involves using a proof-of-stake (PoS) crypto asset and the person needs a staking wallet to perform this function (validating transactions) in order to obtain stake. Similar to a savings account, staking simply means holding the asset and being rewarded coins for the amount the user holds. The more tokens held while staking, the more interest the user will obtain.

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets

Currently, some people are staking ethereum (ETH) using the new ETH 2.0 staking feature. However, in order to earn ETH this way in a noncustodial fashion, the user needs a total of 32 ETH to participate. Although, the person can earn anywhere between 5% to 17% PA. People can also stake ETH in a custodial manner via exchanges like Kraken and Coinbase. The San Francisco exchange Coinbase gives “between 3-7.5% reward on any ETH that you stake.”

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets

Defi Apps Built on Ethereum, Bitcoin Cash, Polkadot, and Tron

Additionally, besides staking, people who want to acquire yield-bearing returns on their crypto assets can do so by leveraging a decentralized finance (defi) application. There are numerous defi apps like Compound, Aave, Nuo Network, Ddex, and Dydx that can offer a person a return simply by providing liquidity or lending. A good portion of these noncustodial defi apps also provide higher yields these days for stablecoins.

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets
Decentralized finance applications, otherwise known as defi, lets people earn yields in a noncustodial fashion.

Using these types of apps, people can earn returns based on a period of time with numerous ERC20 tokens like TUSD, LINK, DAI, ETH, WBTC, and USDC. Moreover, there are other blockchains that are moving toward creating defi ecosystems as well including networks like Tron, Bitcoin Cash, EOS, and Polkadot.

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets

One example on the BCH network is the Anyhedge protocol developed by the General Protocols team, a concept that allows people to leverage BCH with the noncustodial application Detoken.

“The first product available on Detoken is the Anyhedge BCH-USD futures contract,” the team detailed when the app first launched. “This is a smart contract which allows users to Hedge or Long their BCH while earning funding premium. Users also retain control of their own money throughout the entire process.”

Make Your Money Work for You

All of the aforementioned platforms and tools offer people a chance to make their money work for them. Individuals can earn a return by doing something they probably were doing before they knew they could earn interest – simply holding. This decentralized form of liquidity will continue to grow, as long as the demand for crypto assets remains strong.

If mass adoption continues to increase, liquidity and potential earnings can only get better over time. Once the mainstream catches on to these massively larger interest rates than the banks’ petty 0.35% to 0.60% rates, it won’t be long before they will want to move their funds into something that gathers real interest over time.

What do you think about all the platforms and services that allow people to make passive income just by storing their crypto assets? Let us know what you think about this subject in the comments section below.

Paid in Bitcoin: NFL Offensive Tackle Russell Okung Considered the Highest Paid in the League

At the end of December, the Carolina Panthers offensive lineman, Russell Okung told the public he would be getting half of his 13 million-dollar salary paid in bitcoin. Moreover, Okung made the decision at the right time, as the National Football League (NFL) just capped the league’s salaries at $180 million. Looking at it from a different perspective, some people think that Okung is now the highest salaried NFL player today because of his decision to stack satoshis.

Okung’s Bitcoin Salary Matches His Entire Annual Wage Thanks to Crypto Gains

The professional football player, Russell Okung, is well known for his stance toward bitcoin and well before he was paid in BTC, he relentlessly asked to receive his salary in crypto. At the end of December 2020, Okung shocked the world when he announced he would be getting half of his $13 million salary paid in BTC. As bitcoin has continued to climb higher in value week after week since then, a number of people have noted that Okung has made a lot of money so far choosing to be paid in BTC.

For instance, when BTC hit $44k, the half of his contract that is paid in BTC climbed to $10.59 million, at $56k+ his half turned into more than his entire quoted salary. As far as 2020 NFL salary stats are concerned, Okung has entered the top five position. However, the NFL has recently decided to cap the league’s salaries at $180 million and a ball player’s contract could change in 2021. Because the Carolina Panthers’ offensive tackle (OT) gets half of his salary in BTC, many proponents think of him as the highest-paid player in the NFL and not just ahead of the highest-paid OTs.

“You are the highest-paid player in the NFL,” an individual said to Okung recently on Twitter. “Simply by taking your salary in a different unit of value. Amazing. [It] will not be long before your peers catch on,” he added.

NFL Announces New Salary Cap

Interestingly, Okung chose the perfect time to be paid in bitcoin, as the NFL informed teams on Thursday that there will be a salary cap this season at $180 million. In professional sports, a salary cap (or wage cap) is a standard guideline that creates a limit ball clubs can spend on a players’ salary. There are also other rules the NFL leverages like first-year players get a minimum of $610,000 annually. Seven-year NFL vets earn a minimum salary of $1 million last year.

Even though Okung is already very much ahead of all the other NFL players, he may be years ahead of the game going forward. “Russell Okung is a genius,” another person tweeted recently. “He’s made so much money from just one check,” the individual added. Okung seemed to have known this was a good decision when he said “getting paid in bitcoin is the first step of opting out of the corrupt, manipulated economy we all inhabit.”

Moreover, Okung said on Thursday that he continues to accumulate bitcoin no matter the price. “I receive a ton of questions about my price entry point into the BTC,” Okung tweeted. “I stack sats, [the] price goes up, I stack some more, [the] price goes down and stack again,” he said. “This isn’t financial advice,” Okung further insisted.

What do you think about Russell Okung’s decision theoretically making him the highest-paid NFL player in the league? Let us know what you think about this subject in the comments section below.

Bitcoin’s Watershed Moment- Crypto Asset Commands a $1 Trillion Market Capitalization

Bitcoin’s market capitalization has crossed the $1 trillion zone after the price per coin surpassed $53,650 per unit. The valuation comes 145 months after the launch of the Bitcoin network on January 3, 2009.

‘The First Trillion Is the Hardest’

The price of bitcoin (BTC) has surpassed the territory needed to have a $1 trillion market capitalization. The valuation is a milestone to many crypto supporters who have rallied for the leading currency for the last decade. For the last two weeks, digital currency advocates discussed BTC’s slow and steady approach toward the 1 trillion dollar zone. For instance, on February 16, The Block’s director of research Larry Cermak said:

If Bitcoin hits ~$53,650, it’s gonna be a trillion-dollar asset. Fully diluted it’s already at $1.04T.

At 10:42 a.m. (EST) the price of BTC touched an all-time high at $53,743.

The conversation about reaching the 1 trillion dollar milestone was a topical conversation all week, as bitcoiners said it was a long time coming. The same day, the software developer, Jameson Lopp, also talked about the $1 trillion event on social media. “The first trillion is the hardest,” Lopp tweeted to his 262,000 followers.

‘Bitcoin Going for Gold Next’

After Lopp made his statement, a number of people compared the decentralized crypto asset’s market valuation to Apple Inc. (AAPL).

It took Apple Inc. around 504 months (42.0319 years) to get to a $1 trillion market valuation one person responded. Another individual mentioned that after Apple captured the $1 trillion valuation, it only took 26 months to reach $2 trillion, which means the ride to a $2 trillion valuation for bitcoin (BTC) very well could be a far less time frame.

Bitcoin reaching a $1 trillion valuation has been a big deal to a number of proponents and many believe the crypto asset is just warming up. The popular creator of the stock-to-flow (S2F) model, Plan B, discussed the watershed moment.

“Straight line up to a $1trillion market cap,” he said to his 269,000 followers. “Bitcoin going for gold next ($10T),” he insisted.

Civic founder Vinny Lingham, often referred to as the oracle, thinks making it to the $60,000 zone might be in the cards.

“Bitcoin looks primed to make a big break above $50k,” Lingham wrote just before the price surpassed the $50k handle. “Once it clears, it will likely test and break $60k quickly. We could find out which [altcoins] are uncorrelated, as there will likely be some carnage in the alt market, if such a big move materializes,” Lingham added.

What do you think about bitcoin reaching a $1 trillion market valuation? Let us know what you think in the comments section below.

North American Bitcoin ETF’s First Trading Day Captures $165M in Volume

The North American Purpose Bitcoin ETF launch on Thursday saw massive demand, as more than $165 million in trade volume was recorded. In fact, the exchange-traded fund listed on the Toronto Stock Exchange (TSX) saw it’s first $80 million swapped during the first hour of trading sessions.

Purpose Bitcoin ETF Captures $165 Million in Volume

Just recently, the exchange-traded fund called the “Purpose Bitcoin ETF” was approved to be listed in Canada and proponents deemed it to be the “first” bitcoin-based ETF in North America. Bloomberg’s Claire Ballentine revealed that the ETF saw more demand than most ETFs listed on TSX on Thursday. The fund is curated by the firm Canada-based Purpose Investments, and the Ontario Securities Commission granted the fund permission to begin trading.

Ballentine noted that during the first hour of trading, the Purpose Bitcoin ETF (ticker symbol BTCC) saw a whopping $80 million in trade volume. Ballentine also highlighted that the Purpose Bitcoin ETF roared during its debut, and many analysts think crypto exchange-traded funds have untapped interest.

“There’s sizable untapped interest for a Bitcoin investment that has the benefits of an ETF,” the CFRA Research’s director of ETF research, Todd Rosenbluth said. “While most ETFs come to market globally with an educational hurdle to overcome, many investors are familiar with what is inside BTCC.”

EBIT Physical Bitcoin ETF Launches Today, Proponents Still Waiting for US Watchdogs to Approve Bitcoin Funds

In addition to the significant demand from the Purpose Bitcoin ETF, another ETF is set to debut on TSX today. The exchange-traded fund is managed by the company Evolve, and the fund holds physical bitcoins by using Gemini’s custody arm. The listing scheduled for Friday and distributed by Evolve will be called “EBIT.” Evolve is a Canadian business that manages roughly $1.7 billion assets under management (AUM).

Meanwhile, as the two TSX-listed bitcoin-based ETFs trade in Canada, many crypto proponents are hopeful that America will follow suit soon. A number of ETFs are waiting on the U.S. Securities and Exchange Commission (SEC) approval including ETFs registered by the New York Digital Investment Group (NYDIG), Vaneck, and Valkyrie Digital Assets.

What do you think about the massive demand the Purpose Bitcoin ETF saw on Thursday? Let us know what you think about this subject in the comments section below.

BTC Transaction Stuck? Bitcoin Cash-Powered Accelerators Can Speed Up Transfers

BTC Transaction Stuck? Bitcoin Cash-Powered Accelerators Can Speed Up Transfers

At the time of publication, there’s more than 69,000 transactions waiting in line to get confirmed by a bitcoin miner. Since bitcoin’s price rise, at certain times, transaction fees have climbed to $10 to $20 per transfer, and people who pay less than the median fee may have to wait a while. However, people might not realize that there’s a tool people can leverage called a transaction accelerator, a platform that increases the probability of getting a transaction confirmed.

Bitcoin’s Transaction Backlog and Transfer Fees Ramp Up

On Wednesday, February 17, 2021, bitcoin (BTC) touched a lifetime price high at $52,640 per unit. Since then BTC’s value has retreated a hair but the crypto asset has continued to keep steady between the $51,000 to $52,000 price range.

Meanwhile, BTC fees have also steadily increased as the cost per transfer is currently $16.62 to get a transaction into the next block according to bitcoinfees.cash data. BTC’s median fee is lower and around $10.76 per transfer according to the web portal. Stats from bitinfocharts.com shows the average bitcoin transaction today is $22.70 USD or 0.0000011 BTC per byte.

BTC Transaction Stuck? Bitcoin Cash-Powered Accelerators Can Speed Up Transfers

Because fees are so high and competing, the Bitcoin network’s transaction backlog (mempool) shows a great number of unconfirmed transactions are waiting to be cleared. Data from the site Blockchain.com shows the mempool transaction count or the total number of unconfirmed transactions in the mempool, is above 69,000 transactions on Thursday. Cryptocurrency transaction stats from txstreet.com shows 77,034 transactions are waiting for a BTC miner confirmation.

BTC Transaction Stuck? Bitcoin Cash-Powered Accelerators Can Speed Up Transfers

Unfortunately, the number of transactions pending and the ability to compete with higher fees has made people wait an awfully long time for a single confirmation. When a long time ago a small fee could get a BTC transaction cleared with 10 minutes now can take hours and even days to get a single transaction if the fee is too low.

People can leverage a tool that is available in a few select BTC wallets called replace-by-fee (RBF), but a majority of BTC wallets do not leverage the RBF protocol. However, there is a tool that people can use called a transaction accelerator which allows people to pay a fee and push a transaction faster.

Speed Up a Bitcoin Transaction With Bitcoin Cash-Powered Transaction Accelerators

The web portals btc.com and viabtc.com, both offer transaction accelerators, and users can even pay in bitcoin cash (BCH) to speed up a transfer. The web portal pushtx.btc.com says that leading bitcoin mining pools cooperate to provide the transaction accelerator service.

BTC Transaction Stuck? Bitcoin Cash-Powered Accelerators Can Speed Up Transfers

“Using our transaction accelerator can increase the probability of confirming a transaction within 1 hour to 75%, within 4 hours to 98%,” the website notes. The person who wants to speed up a transaction simply adds the transaction hash and the program will give an estimated fee. Btc.com, which just got acquired by a Chinese lottery firm, is the Bitcoin network’s third-largest mining pool today.

BTC Transaction Stuck? Bitcoin Cash-Powered Accelerators Can Speed Up Transfers

Viabtc is also a mining operation that also offers users a number of other cryptocurrency services. The company’s mining pool is the sixth-largest mining pool pointing hashrate at the Bitcoin network on February 18. Viabtc also provides a transaction (TX) accelerator service and one is free and the other service can be paid for with bitcoin cash (BCH) to speed up a transfer.

“When there’s a pending transaction caused by a crowded BTC network or low miner fees,” Viabtc’s transaction accelerator website explains. “You can use TX Accelerator to accelerate the confirmation of a BTC transaction.”

BTC Transaction Stuck? Bitcoin Cash-Powered Accelerators Can Speed Up Transfers

People may need a tool like a transaction accelerator because they would like their transactions confirmed quickly. The problem with slow settlements and confirmation times is because prices fluctuate, a person could lose money trying to send BTC to an exchange to make a timely trade. Transaction accelerators are simply a band-aid to an ongoing problem, but they are definitely better than nothing at all and worth knowing about.

Moreover, because btc.com’s and viabtc.com’s transaction accelerator users can leverage bitcoin cash (BCH), they can utilize the BCH network’s low transfer fees. Data from bitinfocharts.com, bitcoinfees.cash, and txstreet.com indicate that the current fee to get into the next BCH block is only $0.0035 or a third of a penny.

What do you think about btc.com’s and viabtc.com’s transaction accelerators? Let us know what you think about this subject in the comments section below.

As Millions Drown in Today’s Poverty Trap, Macro Strategist Raoul Pal Says ‘Bitcoin Is a Life Raft’

Global Macro Investor CEO, Raoul Pal, discussed the current economy this week and asked his 394,000 followers if people are using the wrong denominator when it comes to certain economic factors. One thing’s for certain, wages have not increased, no matter the common denominator people use to measure today’s salaries. Pal wholeheartedly believes that bitcoin is the only “life raft” he knows of that has “the optionality to change this [issue] over time.”

Macro Strategist Asks: ‘Do We Have the Wrong Denominator?’

Raoul Pal is a bitcoin bull and he’s said many times that the decentralized crypto asset is extremely “hard money.” This week on Twitter, Pal discussed a few denominators people leverage to measure things in economics. He asked his social media followers whether or not they thought we had the wrong denominator.

The former Goldman Sachs executive and Global Macro Investor CEO, Raoul Pal.

“Many of us believe that Fed money printing is creating an asset bubble. But when we switch the denominator to the Fed balance sheet equities look fairly priced,” Pal’s thread noted. When we look at SPX vs M2, the other measure people look at, equities are expensive but not wildly so…(it’s sort of just earning growth). Gold has done less well but ok (sort of [like] equities minus the earning growth),” Pal said.

As far as gold versus the M2, the entrepreneur says that the denominator has held its ground. M2 is the term used for a broad calculation of the easily convertible (liquid) money supply which includes checking deposits and cash.

SPX versus gold is 60% above its 100-year average Pal said and in his view, “gold is the best long-term denominator for assets.” Pal then said maybe a devaluation of the denominator is the real issue at hand.

“We think of it as the [Federal Reserve] creating bubbles, but maybe it’s all fairly priced considering the change in [the] value of the denominator? Much like Venz equities rise when the currency devalues,” Pal stated. “However, the situation is much worse when you look at wages, which have barely moved in 50 years in real terms, underperforming all assets massive due to massive demographic bulges, globalisation, and technology,” he added.

Wages have not increased alongside everything else paired against the common denominators. Wages have only kept up with a few products in the United States.

In the United States, all wages have outperformed things like cars, trucks, and oil, but when the common denominator is gold it looks inferior.

“Another way is [to] look at how many hours [of] work it takes to buy an ounce of gold… Wages allow you no investment opportunity,” the Global Macro Investor executive emphasized. Purchasing equities is a joke as well said Pal because the median person gets to buy next to zero. People have lost 90% of their purchasing power when it comes to buying property he stressed.

Pal continued:

And that explains the rise in debt – Households added to maintain purchasing power… This is a theme BTC market participants picked up a long time ago. BTC has massively outperformed both M2 and the Fed balance sheet. You could interpret BTC as a bubble. You could suggest it hasn’t reached its full price discovery as many adopt it as their life raft as Metcalfe’s Law kicks in.

Bitcoin Offers a Chance to Change This Dynamic

Whatever the case may be Pal said, bitcoin (BTC) has dramatically offset “the wages/purchasing power/denominator issue.” He said that he thinks it is the only chance people have this day in age for someone to expand their economic horizons.

As far as purchasing property, Americans have lost 90% of their purchasing power.

“It is literally the only chance the median person has to change this dynamic,” Pal asserted. “Especially young people who are in huge competition for jobs with boomers and their own massive generation and with technology and workers around the world, struggling to survive too.”

The Global Macro Investor executive thinks that the wage issue is forcing people to grow more upset and angry at the system. He noted that people feel poorer, they are poorer, they have more debt, and they need to obtain more debt, which is an “endless loop,” Pal stressed.

“We do have a different solution – [Bitcoin] and digital assets in general. It is a whole new asset class, that has incredible future expected returns from adoption effects and use cases. It also has the chance to fix our broken finance system. It also offers massive rewards for entrepreneurs,” Raoul Pal said.
As usual, Pal believes that bitcoin can help, as the average person is not included and the traditional financial system is growing less accessible. “The [average person] can’t own enough investments to make up for the difference,” he said.

Pal concluded:

It’s a poverty trap of the middle classes. Bitcoin is the only life raft I know of that has the optionality to change this over time. It will get overly speculative, it will burst but it will rise again. I don’t see many alternatives as most can’t be successful entrepreneurs or market wizards. They need something to invest in. Something with high expected future returns. Or they could lower their cost base via a safety net.

Pal is extremely bullish about bitcoin’s future and for quite some time, the former Goldman Sachs executive said he’s been “irresponsibly long’ toward bitcoin. The macro strategist detailed at the time, that he was also short on the U.S. dollar.

“My conviction levels in bitcoin rise every day. I’m already irresponsibly long,” he noted. Following those statements, Pal said he decided to allocate 10% of his company’s balance sheet toward holding bitcoin and sold all his gold reserves for a portfolio of BTC and ETH.

What do you think about Raoul Pal’s conviction toward bitcoin? Let us know what you think in the comments section below.

German Cannabis Firm Hedges Bitcoin to Protect from Massive Currency Devaluation

German Cannabis Firm Hedges Bitcoin to Protect from Massive Currency Devaluation

On Tuesday, the cannabis firm Synbiotic SE, a publicly-traded company in Germany that’s listed on the Frankfurt Stock Exchange and Xetra, has announced it is leveraging bitcoin to hedge against the euro. Synbiotic’s chief executive officer, Lars Müller explained that the company decided to hedge with the leading crypto asset in order to protect the firm from further risk of euro and dollar devaluation.

Synbiotic CEO: ‘Bitcoin Is the Exact Antithesis of Traditional Currencies’

A German cannabis company is joining the growing list of firms that are adding bitcoin (BTC) to their treasuries. Synbiotic SE announced on Tuesday that it is holding BTC in order to hedge against fiat currency inflation. Synbiotic’s CEO, Lars Müller explained that the cannabis firm has already started to shift “free liquidity into bitcoin.”

German Cannabis Firm Hedges Bitcoin to Protect from Massive Currency Devaluation

“Our decision focused less on price fluctuations than the risk of devaluation of euro and dollar. Bitcoin is the exact antithesis of traditional currencies: its volume is limited to 21 million units,” Müller said during the announcement.

“This limit is fixed and inviolable, which the cryptocurrency‘s decentralized organization and the blockchain‘s tamper-proof nature in turn guarantees. For this reason, we have more long-term confidence in bitcoin than in euros or dollars, where a central institution, influenced by politicians, can expand the money supply immeasurably,” he added.

Müller continued:

In addition, the cannabis sector, in particular, has had very positive experiences with bitcoin as a simple and digital means of payment. Several Synbiotic subsidiaries already accept payments in bitcoin in addition to payments in euros.

The Massive Devaluation of Fiat Money Is a Legitimate Concern

Synbiotic’s recent announcement follows a slew of companies adding BTC to their balance sheets. This week, Microstrategy announced it was selling $600 million in convertible shares to purchase the leading crypto asset. Synbiotic currently focuses on the synthetic production of cannabinoids, drug development, dietary supplement development, and cosmetic products as well.

Much like most of the firms adding bitcoin to their treasuries, Synbiotic’s reasonings and “legitimate concern” are similar. Synbiotic and many other businesses are concerned about the “massive devaluation of fiat money” particularly when it comes to the U.S. dollar and the EU’s euro.

Synbiotic believes that the company is the first corporate entity in Germany that has invested in BTC in order to curb inflation.

What do you think about Synbiotic’s freeing up liquidity to acquire bitcoin? Let us know what you think about this subject in the comments section below.

Blockchain.com Raises $120 Million in a Strategic Financing Round, Firm’s Institutional Arm Swells

Blockchain.com Raises $120 Million in a Strategic Financing Round, Firm's Institutional Arm Swells

On Wednesday, as the leading crypto asset bitcoin has been riding above the $50k handle, the well known firm Blockchain.com announced the company has raised $120 million in a strategic financing round. Blockchain.com says the financing comes at a momentous occasion, as the firm’s wallets have seen 65 million created to-date in over 200 countries.

London Firm Blockchain.com Raises $120 Million from Macro Investors

Blockchain.com is a popular cryptocurrency company that has been around since 2012. On February 17, 2021, the company’s cofounder and CEO, Peter Smith, revealed Blockchain.com has raised $120 million from a number of macro investors.

Smith also recalled how the company raised money in 2014 and they only had around two million wallets issued at the time.

“Six years later, we’ve come a long way,” Smith wrote on Wednesday. “Bitcoin just crossed the monumental price target of $50k. Over 65 million wallets have been created in 200+ countries. And 28% of all bitcoin transactions since 2012 have occurred via Blockchain.com, representing billions in transaction volume,” the cofounder added.

According to Blockchain.com’s announcement, investors who participated in the company’s strategic financing round include firms like Lakestar, Eldridge, Moore Strategic Ventures (Louis Bacon), Kyle Bass, Access Industries, Lightspeed Venture Partners, and GV (Google Ventures).

Blockchain.com’s Institutional Markets Business Sees Significant Growth

Smith further says that Blockchain.com’s Institutional Markets business is swelling from growth. That part of the business is “significant enough to cover the entire operating cost of the business globally while also delivering additional operating profits,” he added.

The pandemic has also added an “unprecedented level of distrust in traditional financial institutions,” which has spurred demand. The London-based company sees a fundamental shift coming when it comes to commerce, investments, and global communications. Blockchain.com’s cofounder stressed that he “couldn’t be more optimistic about the future.”

“Paradigm shifts like crypto can feel to the world as though they happened overnight— but for those of us working day in and day out to build technology and innovation in crypto, this has been a long time coming,” Smith insisted.

The Blockchain.com CEO said to him, cryptocurrencies seem like the “real Robin Hood of finance,” and he highlighted how a number of well known firms are adding BTC to their balance sheets.

“Our mission is to empower anyone anywhere to control their money and we’re just getting started,” Smith concluded during the fundraising announcement. “What I’m most excited about hasn’t happened yet,” he added.

What do you think about Blockchain.com raising $120 million in a strategic financing round? Let us know what you think about this subject in the comments section below.

Blockchain.com Raises $120 Million in a Strategic Financing Round, Firm’s Institutional Arm Swells

Blockchain.com Raises $120 Million in a Strategic Financing Round, Firm's Institutional Arm Swells

On Wednesday, as the leading crypto asset bitcoin has been riding above the $50k handle, the well known firm Blockchain.com announced the company has raised $120 million in a strategic financing round. Blockchain.com says the financing comes at a momentous occasion, as the firm’s wallets have seen 65 million created to-date in over 200 countries.

London Firm Blockchain.com Raises $120 Million from Macro Investors

Blockchain.com is a popular cryptocurrency company that has been around since 2012. On February 17, 2021, the company’s cofounder and CEO, Peter Smith, revealed Blockchain.com has raised $120 million from a number of macro investors.

Smith also recalled how the company raised money in 2014 and they only had around two million wallets issued at the time.

“Six years later, we’ve come a long way,” Smith wrote on Wednesday. “Bitcoin just crossed the monumental price target of $50k. Over 65 million wallets have been created in 200+ countries. And 28% of all bitcoin transactions since 2012 have occurred via Blockchain.com, representing billions in transaction volume,” the cofounder added.

According to Blockchain.com’s announcement, investors who participated in the company’s strategic financing round include firms like Lakestar, Eldridge, Moore Strategic Ventures (Louis Bacon), Kyle Bass, Access Industries, Lightspeed Venture Partners, and GV (Google Ventures).

Blockchain.com’s Institutional Markets Business Sees Significant Growth

Smith further says that Blockchain.com’s Institutional Markets business is swelling from growth. That part of the business is “significant enough to cover the entire operating cost of the business globally while also delivering additional operating profits,” he added.

The pandemic has also added an “unprecedented level of distrust in traditional financial institutions,” which has spurred demand. The London-based company sees a fundamental shift coming when it comes to commerce, investments, and global communications. Blockchain.com’s cofounder stressed that he “couldn’t be more optimistic about the future.”

“Paradigm shifts like crypto can feel to the world as though they happened overnight— but for those of us working day in and day out to build technology and innovation in crypto, this has been a long time coming,” Smith insisted.

The Blockchain.com CEO said to him, cryptocurrencies seem like the “real Robin Hood of finance,” and he highlighted how a number of well known firms are adding BTC to their balance sheets.

“Our mission is to empower anyone anywhere to control their money and we’re just getting started,” Smith concluded during the fundraising announcement. “What I’m most excited about hasn’t happened yet,” he added.

What do you think about Blockchain.com raising $120 million in a strategic financing round? Let us know what you think about this subject in the comments section below.

Privacy Coin Verge Suffers Third 51% Attack, Analysis Shows 200 Days of XVG Transactions Erased

Privacy Coin Verge Suffers Third 51% Attack, Analysis Shows 200 Days of XVG Transactions Erased

According to various reports, the cryptocurrency network Verge has suffered a 51% attack that led to a massive 560,000+ block reorganization. Analysts believe the Verge network attack could be the deepest blockchain reorganization (reorg) in history with roughly 200 days worth of verge transactions wiped.

Reports Show Verge Network Experienced a Massive 560,000+ Blocks Reorg

The blockchain Verge and its native token XVG once made headlines for being added to the popular adult website Pornhub. This week, the Verge network has been 51% attacked according to multiple analysts and observers on social media. Verge has suffered from a total of three 51% attacks. One back in April 2018, and then another 51% attack a month later, when a malicious XVG attacker rejected a number of blocks.

The network data analyst at Coin Metrics, Lucas Nuzzi tweeted about the issues with XVG on February 15. The past 200 days worth of XVG transaction history just vanished,” Nuzzi told his 9,000 Twitter followers. “This is likely the deepest reorg that has ever taken place in a “top 100” cryptocurrency,” he added. The action was caught by a Coin Metrics node according to Antoine Le Calvez who also wrote about the Verge network situation.

“Looks like XVG (Verge) experienced a massive 560k+ blocks reorg,” he said. “Coin Metrics node is on a new chain whose last common ancestor with the previous chain dates to July 2020,” Le Calvez added with a screenshot of the action.

Privacy Coin Verge Suffers Third 51% Attack, Analysis Shows 200 Days of XVG Transactions Erased

The researcher and author Hasu also wrote about the problems with XVG. “Verge (XVG) is experiencing the deepest ever reorg in any PoW blockchain,” Hasu said at the time. “An attacker has replaced 200 days worth of [transactions] with empty blocks, so thousands of balances have simply evaporated.”

Hasu added:

What sounds scary is actually pretty easy to counter – nodes will reject the attacker’s chain and restore the previous one. But it’s another data point showing why GPU mineable coins are inherently insecure.

Bittrex Pauses Verge Wallet

Additionally, the popular cryptocurrency exchange Bittrex announced it had paused the XVG wallet. “The XVG wallet on bittrex.com and the Bittrex Mobile App is currently in maintenance,” the exchange wrote on Monday.

The creator of litecoin (LTC) Charlie Lee told people on Twitter to “always be wary of coins that are highly NiceHash-able.” “When there’s no upfront cost, the incremental cost can be quite cheap. And it would be easy to do a 51% attack and reorg the chain,” Lee explained.

The cryptocurrency verge (XVG) is a multi-algorithm enabled proof-of-work-based token, according to the project’s “black paper.” The multi-algorithm allows people to mine XVG with a variety of devices the paper adds. Verge (XVG) is open source and claims to be privacy-centric by leveraging Tor and stealth transactions. However, XVG had also been accused of leaking IP addresses associated with hundreds of XVG transactions. Since the third attack on the Verge network this week, XVG has shed more than 10% in value.

What do you think about the 51% attack on the cryptocurrency verge? Let us know what you think about this subject in the comments section below.

NYDIG Registers for a Bitcoin ETF, Morgan Stanley Named a Participant in SEC Filing

NYDIG Registers for a Bitcoin ETF, Morgan Stanley Named a Participant in SEC Filing

Just recently, during Microstrategy’s “Bitcoin for Corporations” event, Stone Ridge Asset Management and New York Digital Investment Group (NYDIG) founder, Ross Stevens, explained that he sees a “wall of money” entering the bitcoin space. A week later after that statement, NYDIG has revealed that the company has filed for a bitcoin exchange-traded fund (ETF) and is hoping for regulatory approval.

NYDIG Files for a Bitcoin Exchange-Traded Fund With Hopes to Trade on NYSE Arca

Last week, when Ross Stevens told the Microstrategy CEO and bitcoin bull, Michael Saylor that he believes a lot of money was coming into bitcoin he probably had a pretty good inclination. Not too long afterward, Stevens’ firm NYDIG a subsidiary of Stone Ridge Asset Management revealed the company is aiming to launch an exchange-traded fund (ETF). The news follows the recent Purpose Bitcoin ETF approval, which will trade on the Toronto Stock Exchange.

NYDIG also falls behind the bitcoin-based ETF filings registered by the firms Valkyrie Digital Assets and Vaneck. The “NYDIG Bitcoin ETF” filing was filed with the U.S. Securities and Exchange Commission on February 16, 2021. The registration is a Form S-1 statement, which aims to distribute common shares trade on NYSE Arca.

“The [NYDIG Bitcoin Trust’s] investment objective is to reflect the performance of the price of bitcoin less the expenses of the Trust’s operations. The Trust will not seek to reflect the performance of any benchmark or index,” the registration filing notes.

“In seeking to achieve its investment objective, the Trust will hold bitcoin,” the filing continues. “The Trust will value its assets daily in accordance with Generally Accepted Accounting Principles, which generally value bitcoin by reference to orderly transactions in the principal active market for bitcoin.”

There are around ten companies shooting for a bitcoin ETF in the U.S., according to Jeff Kilburg, founder and CEO of KKM Financial and a partner at Valkyrie. Kilburg thinks that 2021 will be the year the SEC approves a U.S.-based exchange-traded fund that leverages the leading digital asset.

Kilburg jokingly said that it was similar to constantly asking someone to get married.

“It’s a similar approach to the way I strategically asked my wife to marry me. Around the 15th or 20th time I asked, she finally said yes,” Kilburg told CNBC.

NYDIG Names Morgan Stanley as the Authorized Participant

NYDIG’s SEC filing for a bitcoin exchange-traded fund coincidentally was registered the day BTC jumped to a new all-time high. BTC temporarily touched an average price of around $50,603 during the early morning trading sessions (EST) on Tuesday.

NYDIG’s filing also notes that the firm will be working with Morgan Stanley as an initially authorized participant. Of course, the NYDIG Bitcoin ETF filing also has a whole page (pg. 9) dedicated to explaining the “risks” involved with a bitcoin-based investment vehicle.

“Investment in the trust involves significant risks and may not be suitable for shareholders that are not in a position to accept risks related to bitcoin,” the registration warning says. “The shares are speculative securities. their purchase involves a high degree of risk, and you could lose your entire investment. you should consider all risk factors before investing in the trust.”

What do you think about the latest bitcoin ETF filing by New York Digital Investment Group (NYDIG)?

Microstrategy to Sell $600 Million Worth of Convertible Notes to Buy More Bitcoin

Microstrategy to Sell $600 Million Worth of Convertible Notes to Buy More Bitcoin

The publicly listed company Microstrategy announced that it has plans to purchase more bitcoin after acquiring 71,079 bitcoin during the last six months. On Tuesday, Microstrategy revealed its plans to sell $600 million in convertible senior notes to qualified institutional buyers in order to use the funds for bitcoin.

Selling Convertible Notes for Bitcoin

At around 7:59 a.m. (EST) on Tuesday morning, Microstrategy (Nasdaq: MSTR) CEO, Michael Saylor tweeted about a new private sale his firm is committing to in order to sell $600 million in convertible senior notes. Microstrategy’s announcement says that the notes will be unsecured, senior obligations of Microstrategy, and will bear interest semi-annually to holders. The notes will mature on February 15, 2027, and Microstrategy says that the firm can redeem cash for all the notes sold.

The announcement further reads:

Microstrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoins.

Microstrategy has purchased a great number of bitcoins and currently holds 71,079 BTC worth more than $3 billion using today’s exchange rates. The move to sell convertible notes is not unusual for the intelligence company as Microstrategy completed a $650 million capital raise to purchase bitcoins in mid-December.

Microstrategy to Sell $600 Million Worth of Convertible Notes to Buy More Bitcoin
A screenshot of bitcointreasuries.org and Microstrategy’s current bitcoin balance.

While Michael Saylor tweeted the latest announcement, bitcoin (BTC) prices were in the midst of reaching a new all-time high (ATH) on Tuesday morning. BTC shot up to $50,603 per coin on February 16, 2021, and has a market cap valued at over $900 billion today.

Following Saylor’s tweet, Michael Sonnenshein the CEO of Grayscale responded to the recent Microstrategy move. “Trying to catch up with Grayscale?” Sonnenshein asked, as the CEO’s Grayscale Bitcoin Trust holds a whopping 649,130 BTC worth $31 billion today.

A few other people responded to Saylor’s tweet with criticism and said: “Dude is full knowingly creating the biggest bubble in history, fu**ing legend.” The comment was blasted by a person who disagreed with the “biggest bubble” statement.

”If you think it’s a bubble you don’t get it, we are bursting the fiat bubble,” the individual said.

Digital Gold

Microstrategy and Michael Saylor have been relentlessly pushing the digital gold narrative and Saylor has said that the popular yellow precious metal gold is antiquated.

“If institutions want to move billion-dollar blocks of money around the globe, gold is a million times more expensive than bitcoin,” Saylor said. “And a thousand times slower. We can’t build a modern economy on antiquated technology,” the Microstrategy executive added.

Many people support Saylor’s perspective that BTC can be digital gold, a store of value, and something that offers investors long-term potential growth. “The narrative of bitcoin becoming the digital gold is gaining traction,” John Wu, the president of Ava Labs told news.Bitcoin.com on Tuesday.

“If that narrative comes to fruition, then the growth potential is off the charts as $50,000 per BTC equates to a market cap of roughly $931B, which is almost 9% of Gold at roughly $10.6T market cap,” Wu said.

The AVA Labs president further added:

If BTC meets Gold’s market cap, then that would be at least $500,000 per BTC.

With 71,079 bitcoin on hand and more to come after selling the convertible notes, Microstrategy will be a publicly listed company with almost as much bitcoin as one of the top BTC hedge funds. Shares of Microstrategy (Nasdaq: MSTR) dropped over 2%, after the CEO announced the company would be selling the notes for bitcoin.

What do you think about Microstrategy selling convertible notes to purchase more bitcoin? Let us know what you think about this subject in the comments section below.

Bitcoin Hits $50K, Crypto Asset Jumps 200% in 3 Months, USD Shorts Touch a Decade High

Bitcoin Hits $50K, Crypto Asset Jumps 200% in 3 Months, USD Shorts Touch a Decade High

The price of bitcoin touched an all-time high surpassing the $50k handle on February 16, 2021. Cryptocurrency advocates celebrated the milestone as bitcoin has spiked more than 200% during the last 90 days and 400% against the U.S. dollar for the entire year.

  • Bitcoin (BTC) has crossed the psychological $50,000 zone after fighting the region for more than 24 hours. The leading cryptocurrency, in terms of market capitalization, has gained more than 154% since the all-time high in December 2017. At around 7:37 a.m. (EST) bitcoin (BTC) hit $50,603 per unit on Tuesday.
Bitcoin (BTC) touched an all-time high at $50,603 per unit on Tuesday, February 16, 2021.
  • While BTC captures the $50k mark, the crypto asset’s dominance index is only 61% today. This is due to ethereum (ETH) commanding 13.81% of the overall crypto economy’s value and tether (USDT) capturing 2.21%. Meanwhile, cardano (ADA), polkadot (DOT), and binance coin (BNB) all have a touch less than 2%.
  • BTC’s hashrate has been very high today and at the time of publication, the network is processing at speeds of around 163 exahash per second (EH/s). Moreover, with the network mining difficulty at 21.43 trillion, it has never been harder to mine than it is today. Despite the massive difficulty, a whopping 21 mining pools are mining BTC.
  • The top five mining pools capture a significant amount of SHA256 hashrate as all five operations command 75% of the hashrate. This includes F2pool, Poolin, Antpool, Binance Pool, and Btc.com.
  • While bitcoin (BTC) has reached record highs the U.S. dollar looks weaker than ever as DXY Index charts show the currency continues to sink. Moreover, 2021 has been the year of shorting the greenback, as reports note that USD short positions have been at their highest in ten years.

  • Meanwhile, bitcoin proponents have been excited about positive news like Tesla’s $1.5 billion BTC purchase, Mastercard and BNY Mellon acceptance, the city of Miami’s recent moves to adopt bitcoin, and rumors of Uber and Apple jumping aboard.
  • As BTC captured the $50k price range, analysts think that bitcoin prices could go way higher. The popular Twitter account @Cryptocapo_ tweeted to his 49,000 followers that we could see the $60 range soon enough.
  • BTC – Bullish continuation seems more likely now,” the trader wrote. “Above $50k it teleports to $60k. $59k-$62k is the Fibonacci confluence zone (resistance). We could see a bigger shakeout there, maybe to $45k,” the analyst added.
  • At the time of publication, after BTC touched $50,603 per coin, the price dipped back under the $50k handle. Currently, bitcoin (BTC) bulls are attempting to cross the psychological zone again.

Want to check out all the crypto asset prices, volumes, and stats in real-time? Check out markets.Bitcoin.com today.

What do you think about bitcoin crossing the $50,000 zone? Let us know what you think about this subject in the comments section below.

Bitcoin Payments for Private Flights Soar, 20% of Privatefly’s Revenue Stems from Crypto

Bitcoin Payments for Private Flights Soar, 20% of Privatefly's Revenue Stems from Crypto

Cryptocurrency users are leveraging their new-found wealth to fly more often with private jets. This week the directional aviation company Privatefly revealed that close to 20% of the firm’s sales were paid in cryptocurrencies last month, and 13% out of that aggregate used bitcoin.

On-Demand Private Flights and Crypto

According to data from the company Privatefly, purchasing flights with digital assets has soared in recent times. For instance, the directional aviation company said a few years ago, the company pulled in 1-2% from crypto payments for flights. The numbers jumped significantly in December 2020 to 12%, and subsequently spiked to 13% during the first month of 2021. Out of the 13% in BTC payments, cryptocurrency settlement, in general, makes up 19% of Privatefly’s revenue.

Adam Twidell, Privatefly’s CEO.

The flight company says that Privatefly started accepting bitcoin early in 2014 and since then, it has expanded its cryptocurrency support. The company uses Bitpay for one-off flights or memberships, and this week it has started a new bitcoin program. Privatefly has launched the “Bitcoin Jet Account,” which allows customers to hold their BTC and open a membership at the same time, but keep the funds held in crypto.

“While we have accepted bitcoin payments for many years now,” Adam Twidell, Privatefly’s CEO said. “Cryptocurrency transactions have really taken off in recent months. These are in line with Bitcoin’s climb in value – to the extent that 13% of our flights were paid for in this way last month. We have previously seen just 1-2% each month,” the CEO added.

Twidell continued:

Some of these are clients who are looking to realise their gains, while others want to hold onto their cryptocurrency, in expectation of future increases. So, in addition to taking out a membership with us in bitcoin and converting the account funds into traditional currency (as we have offered for a while), we now offer a membership program that allows the account funds to stay in bitcoin.

‘The Perfect Way to Pay’

Privatefly explained that years ago, that the Belgian tech entrepreneur, Olivier Janssens, was the firm’s first customer to pay in bitcoin. Janssens took a flight to Nice Cote D’Azur from Brussels and booked and paid for the trip on the same day.

“The flight was the biggest Bitcoin payment transaction I have made,” Janssens said at the time. “But it was very easy and efficient, particularly as I wanted to fly at very short notice. It was the perfect way to pay.”

Recently, Credit Suisse Group AG, BNP Paribas SA, and a number of other financial institutions said demand for private jets has increased massively and should continue throughout 2021. “Looking back we had a very good year and much, much better than expected,” the chief of aviation for the equipment-finance unit of Societe Generale SA, Werner Slavik, noted during a Jet Investor event.

The aviation company Privatefly offers one-off ‘on-demand’ private flights, but regular patrons can also create a membership account and deposit funds regularly. “Privatefly has always sought to make private jet travel easier to book, combining innovative technology with deep industry expertise and the secure backing of one of the world’s largest private aviation groups, with annual revenues of over $2 billion,” Twidell noted during the announcement.

“Many of our clients are tech-savvy and entrepreneurial people, which is why we started accepting bitcoin payments for one-off flights in 2014, a world-first at the time,” Twidell concluded. “We are now the first to offer a private jet membership program based on bitcoin funds.”

Privatefly also supports payments in bitcoin cash (BCH), ethereum (ETH), and four USD-pegged stablecoins (GUSD, USDC, PAX, and BUSD).

What do you think about Privatefly’s recent crypto revenue uptick and the “Bitcoin Jet Account?” Let us know what you think about this subject in the comments section below.

Mexico’s Third-Wealthiest Individual Adds Bitcoin to His Twitter Bio

Mexico's Third-Wealthiest Individual Adds Bitcoin to His Twitter Bio

Just recently the Mexican billionaire, Ricardo Salinas Pliego, joined Elon Musk and a number of high-profile people, by adding the bitcoin hashtag to his Twitter bio. Salinas is one of Mexico’s wealthiest individuals with a fortune of around $13.2 billion and 10% of the entrepreneur’s liquid portfolio is in bitcoin.

Grupo Salinas Chairman Joins the Bitcoin Bio Twitter Trend

Ricardo Salinas Pliego is the third-wealthiest individual in the nation-state of Mexico and back in 2013, he purchased BTC for $200. At the time he claimed, it was the “best investment ever.”

“I want to sit around for another five or ten years”, he said during the interview in December 2020. Moreover, the Mexican billionaire recently told the public that 10% of his liquid portfolio is in bitcoin (BTC). Salinas is also vocal about his love for bitcoin on Twitter and once tweeted that “[bitcoin] is inflationary expropriation.

Mexico's Third-Wealthiest Individual Adds Bitcoin to His Twitter Bio

Now the chairman at conglomerate Grupo Salinas has put the bitcoin hashtag on his Twitter bio, following the line-up of luminaries and celebrities contributing to this trend. Elon Musk recently added the bitcoin hashtag to his bio and the price of BTC spiked a few percentages.

Since then, a whole slew of well known individuals have continued to add the bitcoin hashtag to their Twitter bios to show support for the leading cryptocurrency. The popular Carolina Panthers offensive tackle, Russell Okung, persuaded many celebrities to jump onboard.

“Everyone put #Bitcoin in your bio,” Okung tweeted. “Plant the flag to declare you’re ready for the future.

‘Inflationary Expropriation’

When Salinas was interviewed and said bitcoin was one of the best investments ever, he also talked about a few South American countries facing economic turmoil. “What’s happening in Venezuela, in Argentina where fiat money is collapsing has become a scandal. It really opens your eyes to the problem of fiat cash,” the Grupo Salinas executive explained at the time.

Of course, when Salinas mentioned bitcoin on social media, a few individuals called Salinas’ recent commentary an “irresponsible comment.”

The bitcoin hashtag in his bio, on the other hand, is a statement he can make without much commentary. So far, thanks to Elon Musk and the NFL player Russell Okung, a great number of people are adding the hashtag including Reddit co-founder Alexis Ohanian, spiritual guru Sofia Hayat, and Skybridge Capital’s Anthony Scaramucci.

After the Mexican billionaire Ricardo Salinas Pliego joined the growing trend, he was welcomed with open arms.

What do you think about Ricardo Salinas Pliego putting the bitcoin hashtag in his Twitter bio? Let us know what you think about this subject in the comments section below.

Bitcoin Snaps Back After Slight Dip, Current BTC Chart ‘Is Near Identical to August 2017’

Bitcoin Snaps Back After Slight Dip, Current BTC Chart 'Is Near Identical to August 2017'

Digital currency prices are on the move again, after tumbling a hair downwards during Sunday evening’s trading sessions. On Sunday the price of bitcoin dropped -7.64% after touching a lifetime price high at $49,715 and then slid to $45,915. As trading sessions entered into Monday, BTC has regained some of the losses as it jumped northbound 4.62%.

Crypto Markets Shrug Off the Recent Dip

Bitcoin (BTC) and a slew of digital assets saw some significant losses yesterday, after a few crypto assets touched new all-time highs (ATH). BTC has been awfully close to the psychological $50k region, but hasn’t managed to cross the price zone yet. On Sunday, the price came really close at $49,715 per unit but tumbled downward after reaching that point.

BTC/USD chart on Bitstamp on February 15, 2021.

After sliding below the $46k zone, BTC is back up to the $47,800 to $48,150 region once again, but prices are still down 1.8%. The second-largest crypto asset, in terms of market valuation, is ethereum (ETH) which is swapping for $1,809 per coin. ETH tumbled yesterday, to a low of $1,710 per unit and has managed to regain much of the losses.

Top ten market valuations on February 15, 2021, according to markets.Bitcoin.com.

Cardano (ADA) slid to $0.78 per token but is back up to $0.87 per ADA. Polkadot (DOT) hit a low of $25.11 yesterday but is now swapping for $28.50 during Monday morning’s trading sessions. XRP, BNB, and LTC are all down a couple of percentages, but bitcoin cash (BCH) is up 2.77% and holds the ninth largest market cap.

Bitcoin cash is currently trading for $719 per coin and has a $13.4 billion market cap. The tenth-largest blockchain, in terms of valuation, is chainlink (LINK) which is exchanging hands for $33.86 per unit.

Jack Purdy: ‘Today’s Bitcoin Chart Is Near Identical to August 2017’

While many traders are discussing a few crypto markets reaching new ATHs, people are pondering if we are nearing the bull run’s top. On February 11, Civic founder Vinny Lingham said that when BTC reaches the $50k zone it should surpass it quite easily.

“Just a hunch, but I think bitcoin blows through $50k on the first attempt,” Lingham tweeted.

The August 2017 chart compared to today’s chart as shared by Jack Purdy on February 15, 2021.

In another tweet, Lingham shared on Monday, he referred to a chart shared by Jack Purdy, which compares the August 2017 BTC/USD chart with the current 2021 BTC/USD chart.

“It’s pretty mind-blowing that the bitcoin chart is damn near identical to August 2017. Anyone need a refresher for what happened next?” Purdy asked.

Lingham added:

Yup. This isn’t a bubble, yet. The next bubble is still coming…

A Healthy Correction and Regrets

Etoro’s Simon Peters said that even though BTC dropped in value after the peak, it was a perfectly normal correction. “Bitcoin climbed once more over the weekend, with strong buying on Sunday, propelling the price to a new peak,” Peters told news.Bitcoin.com in an investors note on Monday.

“Bitcoin rose more than 25% during the week, to finish at yesterday’s peak,” Peters continued. “The price boost came after a series of major announcements from companies, including Tesla. Tesla’s move sparked further announcements from other industries last week, with many of the leading names in banking and finance announcing similar plans to integrate crypto assets,” the analyst added.

Peters further stated:

Having peaked overnight, bitcoin pulled back marginally Monday to around $47,000, but this is normal as some investors opt to take profits.

Meanwhile, it doesn’t seem like the Chinese New Year crypto dump came to fruition this year. After prices were looking overheated, investors took profits and stepped off into the sidelines temporarily, but are now back. The fact that BTC prices are where they are today, is still quite surprising to some investors who missed the train. For instance, the head trader and founder of Asenna Capital, Assad Tannous, told his 95,000 followers a regretful statement.

“At $10k I said BTC would end in tears,” Tannous tweeted. “I was right, I don’t own any, and I could cry.”

What do you think about the recent price movements within the crypto economy? Let us know what you think about this subject in the comments section below.

Jed McCaleb Sells $22 Million Worth of XRP, Ripple Cofounder’s Stash Could Run Dry by May

During the last few weeks, the former Ripple executive Jed McCaleb has reportedly been selling millions of XRP tokens and every sale has been monitored by the public. On Sunday, McCaleb dumped another 38 million XRP worth $22 million after selling 95 million XRP last week worth $56 million today.

Ripple Cofounder Sells 38 million Coins on Valentine’s Day

The cofounder and former Ripple executive, Jed McCaleb has been a topical conversation in recent days since the founder has been selling a lot of XRP. News.Bitcoin.com has been covering a number of McCaleb’s XRP sales in December 2020 and into January 2021.

During the month of February, it has been no different, as reports have been showing McCaleb’s alleged wallet called ‘Tacostand’ making regular sales. In our last report, news.Bitcoin.com explained that the analyst Leonidas Hadjiloizou has been monitoring McCaleb’s XRP sales and tweeting about the dumps regularly.

On Sunday, February 14, otherwise known as Valentine’s Day, McCaleb sold even more XRP. The website called xrpscan.com shows that the former Ripple executive’s ‘Tacostand’ wallet sold 38 million XRP worth $22 million. Hadjiloizou tweeted about this event, and he believes that McCaleb will be selling more this week.

Hadjiloizou said:

Jed will be selling 38,345,406.53 XRP per day this week. This amounts to roughly 268 million XRP or $166M at current prices in 1 week. At this rate, his 2.896 billion XRP would run out by May. At half that rate (19M per day) he would run out by mid-July. At 10M per day by the end of the year.

$1.22 Billion Worth of XRP Sold in February

McCaleb’s sales have followed the recent issues the company Ripple Labs has been facing with U.S. regulators. Hadjiloizou noted that “Jed’s Tacostand had paused XRP sales ever since the SEC lawsuit was announced.” But then the Tacostand address began selling again shortly after.

Moreover, in the case of Bradley Sostack vs. Ripple Labs, the plaintiff Sostack has filed a motion to compel Ripple to produce improperly withheld email communications between the company and the U.S. Securities Exchange Commission (SEC).

During the first two weeks of February, McCaleb has kept the sales going, while XRP has also seen a price spike in the last fourteen days. Before Sunday’s 38 million XRP sale, McCaleb dumped 95 million XRP last week, and 76 million XRP the week prior. That’s just a touch over $1 billion using today’s XRP exchange rates. McCaleb is also a notable crypto-billionaire and one of the top 100 wealthiest individuals on earth.

What do you think about Jed McCaleb’s recent sales and the legal troubles Ripple has been dealing with in recent times? Let us know what you think about this subject in the comments section below.

Red Envelopes and BCH: Prominent Mining Execs Jiang Zhuoer and Jihan Wu Bolster Bitcoin Cash

Red Envelopes and BCH: Prominent Mining Execs Jiang Zhuoer and Jihan Wu Bolster Bitcoin Cash

In recent days, bitcoin cash has seen significant gains, and supporters of the digital currency have been positive about specific developments, like the internet entrepreneur Kim Dotcom’s current support. On February 11, the Chinese New Year, the prominent bitcoin mining executives, Jiang Zhuoer and Jihan Wu joined a Satoshi’s Angels discussion channel and spoke favorably about the peer-to-peer crypto-asset bitcoin cash.

The well known mining executives, Bitmain cofounder Jihan Wu and Btc.top founder Jiang Zhuoer seem very bullish about bitcoin cash (BCH), according to a couple of members from the marketing agency and umbrella organization Satoshi’s Angels. The organization Satoshi’s Angels (SA) was founded by Akane Yokoo, an organizer of the Tokyo Bitcoin Cash Meetup, and the educator and author Cindy Wang.

Red Envelopes and BCH: Prominent Mining Execs Jiang Zhuoer and Jihan Wu Bolster Bitcoin Cash

Both of the SA founders are bitcoin cash (BCH) proponents and have educated the masses on the many benefits of the decentralized crypto asset. During the Chinese New Year, the SA founders and a number of other crypto supporters joined a Wechat channel in order to exchange red envelopes. A red packet or red envelope is a monetary gift that is popular during special occasions in China and other Asian territories. Cindy Wang said she had sent Jihan a message and said: “I want to invite you to our SA Wechat group to send a red envelope”

Red Envelopes and BCH: Prominent Mining Execs Jiang Zhuoer and Jihan Wu Bolster Bitcoin Cash

Wang said that Jihan Wu joined the group and distributed three really big red envelopes. One left a message that said: “Happy LNY, Angel and Angel’s fans,” another one stated “Be lucky in the year of OX,” and the third one said: “No matter how high BCH price hits, keep building for our country.” Wang told news.Bitcoin.com that she believes Jihan Wu knows that “BCH is going to rise.”

“We were all so excited, and texted: ‘I love Jihan.’ And then a few people asked me to invite Jiang Zhuoer, I did and Jiang joined us,” Wang said.

The Satoshi’s Angels’ cofounder detailed that Zhuoer chatted with the group and he also sent “big red envelopes.” Some of the messages Zhuoer sent said: “Big block will win,” “Big is beautiful, more is good,” and he also said “Leverage makes you homeless. Mining makes you rich.”

The SA cofounders were extremely thrilled with Jiang Zhuoer and Jihan Wu’s BCH optimism. “Even though Jihan has been a low key about what’s happening at Bitmain, we can all tell that he has a deep feeling for bitcoin cash,” Wang told news.Bitcoin.com. “Jihan told me that he reads our Bitcoin Cash weekly news, and his appearance on new year’s eve really cheered up the Chinese community,” she added.

The discussion with Jiang Zhuoer and Jihan Wu follows BCH’s recent price run-up, as the crypto asset has seen massive gains during the weekend’s trading sessions. On Saturday morning (EST), BCH was swapping for $549 per unit and then touched a high of $728 at 10:02 p.m., jumping a whopping 32.60%. At the time of publication on Sunday, BCH is exchanging hands for $688 per coin.

What do you think about Jiang Zhuoer and Jihan Wu’s appearance on the Chinese New Year with the Satoshi’s Angels founders? Let us know what you think about this subject in the comments section below.

‘Black Swan’ Author Pulls a 180- Nassim Taleb Says ‘Bitcoin’s a Failure, at Least for Now’

'Black Swan' Author Pulls a 180- Nassim Taleb Says 'Bitcoin's a Failure, at Least for Now'

On February 12, the well known Lebanese-American essayist and risk analyst, Nassim Nicholas Taleb, declared that the leading digital currency bitcoin is a failure, at least for now. Cryptocurrency fans have been upset by Taleb’s recent statements, after it seems the renowned author has done a complete 180 after supporting the crypto asset for years.

Nassim Taleb Is Not Impressed With Bitcoin These Days

Nassim Nicholas Taleb is a very popular author, mathematical statistician, and scholar. Over the years, Taleb has been very critical of today’s monetary system, the current finance industry, and the most recent financial crises. The philosopher is best known for his books “The Black Swan” (2010) and “Antifragile: Things That Gain from Disorder” (2012).

After Satoshi Nakamoto released the Bitcoin network, Taleb was initially very optimistic about this emerging technology and over the years he wrote positive things about the digital asset.

'Black Swan' Author Pulls a 180- Nassim Taleb Says 'Bitcoin's a Failure, at Least for Now'
Nassim Nicholas Taleb’s recent critique of bitcoin seems to have stirred the BTC community because not too long ago, Taleb liked bitcoin and wrote about the digital asset in a positive light. “[Bitcoin’s] mere existence is an insurance policy that will remind governments that the last object establishment could control, namely, the currency, is no longer their monopoly. This gives us, the crowd, an insurance policy against an Orwellian future,” Taleb wrote in 2018.
Two years ago in a post published on Taleb’s Opacity blog dubbed “It May Fail but We Now Know How to Do It,” the novelist explained that “Bitcoin is an excellent idea.” Taleb said that his essay was initially written as a foreword to the book written by Saifedean Ammous, but he also stressed that he did not subscribe to Saifedean Ammous’s “crankish and conspiratorial ideas.” When discussing bitcoin (BTC), Taleb’s opinion at the time was that the cryptocurrency was a powerful animal.

“It fulfills the needs of the complex system, not because it is a cryptocurrency,” Taleb wrote. “But precisely because it has no owner, no authority that can decide on its fate. It is owned by the crowd, its users. And it has now a track record of several years, enough for it to be an animal in its own right.”

In 2021, specifically on February 12, Nassim Nicholas Taleb decided to tell the public that he was selling some of his bitcoin. Moreover, Taleb criticized a number of people within the crypto community toward the latter end of his tweet.

“I’ve been getting rid of my BTC,” the renowned author tweeted to his 705,000+ Twitter followers. “Why? A currency is never supposed to be more volatile than what you buy [and] sell with it. You can’t price goods in BTC,” the former options trader said.

Taleb further added:

In that respect, it’s a failure (at least for now). It was taken over by Covid denying sociopaths w/the sophistication of amoebas.

Taleb wasn’t done with his scathing critique and decided to add to his first statement. “The other problem BTC Protozoa [doesn’t] get: the appeal of a cryptocurrency depends on some opacity, its ability to facilitate tax fraud and money laundering,” Taleb tweeted. “You can anonymize a gold coin by re-melting it. You can rework a spoon. BTC is more tractable than cash. BTC Volatility is not dropping with time/at [a] higher price, exactly what you don’t need,” the famed author further stressed.

Paul Sztorc: ‘Saner Bitcoiners Have Become Quieter Recently’

Of course, cryptocurrency and bitcoin advocates were not too pleased with Taleb’s statements. The popular bitcoiner Pierre Rochard told Taleb that “bitcoin is crashing up,” while the digital asset proponent Chris Ellis said “[Bitcoin is] syncing with the global economy.”

“It’s like watching the progress bar of an old tape backup without the time-to-completion feature,” Chris Ellis continued.

'Black Swan' Author Pulls a 180- Nassim Taleb Says 'Bitcoin's a Failure, at Least for Now'
Many bitcoiners argued with Taleb that bitcoin volatility is in fact dropping with time as data shows this is true.

Others responded in a different way and discussed the subject from an alternative perspective. The software developer, Paul Sztorc, talked about how saner BTC people haven’t been as loud in recent times.

“Unfortunately, it is true that most of the Bitcoiners that [Nassim Nicholas Taleb] spoke with were embarrassments (namely Saifedean who makes it his mission to repel all intelligent reasonable people). Saner BTCers have become quieter recently,” Sztorc said on Twitter.

Sztorc continued:

It is exactly as [Chris] DeRose/Junseth predicted long ago. ‘Enforcer’ types, who are very good at pressuring the gullible to increase their commitment, but repugnant to outsiders or independent thinkers. I guess that those are the people [Nassim Nicholas Taleb] is referring to.

Nassim Taleb Is Not Convinced by Rebuttals, Says ‘Bitcoin Misfits Share the Monocellular Brain’

Following Taleb’s initial tweet on February 12, the author tweeted some more on the 14th, and criticized Kraken FX’s Dan Held. Blockchain researcher Willy Woo responded to Taleb’s critique and said that “volatility is a red herring.”

“Most likely path is BTC becoming a reserve asset that backs currency. Thinking of it as a unit of account is a hangover from the Agrarian Age when we had seashells, and lumps of silver. We’re in a Digital Age now, we have live indexes and baskets,” Woo added. Despite all the defense and response toward Taleb’s new path of thinking, the author doesn’t seem to be favoring the crypto asset as he did in the past.

Even last April, when news went viral that the Bank of Lebanon applied strict local currency remittance rules, Taleb tweeted: “Use cryptocurrencies!”

However, today is a different story, and on Sunday morning (EST), Taleb seemingly responded to numerous “reserve asset” Twitter responses.

“Bitcoin misfits share the monocellular brain [and] logical wiring defects: ‘BTC is a good idea, therefore, IT WILL BE *THE* reserve currency’ (i.e. no other ideas [and] no other reserve). Reserve ≄Volatile. [Plus] It is not supposed to be volatile AT HIGHER PRICES. [Plus] Never found uses,” Taleb insisted.

What do you think about Nassim Nicholas Taleb’s recent scathing critique of bitcoin and bitcoin proponents in general? Let us know what you think about this subject in the comments section below.

Darknet Market Joker’s Stash Retires After Raking in $1 Billion in Cryptocurrencies

One of the largest darknet marketplaces for selling identity data and stolen credit card information, Joker’s Stash retired last month after making off with a cool $1 billion in cryptocurrencies. Weeks ago, U.S. and European officials seized some of the web portal’s servers tied to Joker’s Stash site, but were unable to completely shut operations down.

Darknet Market Joker’s Stash Closes Shop

A number of reports indicate that the world’s largest darknet market (DNM), in terms of stolen credit card and identity sales, has called it quits after operating since 2014. Joker’s Stash explained in mid-January that the business would be closing shop in mid-February and it has followed through with the plan.

The blockchain analysis firm Elliptic detailed that the Joker’s Stash raked in more than $1 billion in cryptocurrencies during its tenure. Elliptic also revealed that the estimate was a conservative calculation based on the revenue Joker’s Stash took in during the years and all the fees.

Darknet Market Joker’s Stash Retires After Raking in $1 Billion in Cryptocurrencies
Admins from Joker’s Stash left a letter to customers that explained the operators would be retiring.

On January 15, Joker’s Stash admins said the site would go dark on February 15, but Elliptic monitored the web portal and said the DNM went offline on February 3, 2021. Joker’s Stash had a lucky run up until 2020, when reports detailed that the owner of the DNM contracted the coronavirus and had to go to the hospital for seven days.

At the time, Joker’s Stash customers started complaining and having issues with card data and identification intel reliability. Both Krebs on Security and Gemini Advisory have published reports with a comprehensive analysis on the Joker’s Stash operations.

Covid-19 and Global Law Enforcement Push the Joker’s Stash Toward the Brink

Ever since the admin caught Covid-19 and the weeks that followed, Gemini Advisory said the business saw a “severe decline” in volumes. The image below, created by Gemini shows the decline in Joker’s Stash CNP and CP data toward the end of August 2020.

But Covid-19 wasn’t the only issue Joker’s Stash operation dealt with in 2020, as the law enforcement officials from Europe and the U.S. stepped in as well. Interpol and the U.S. Department of Justice (DoJ) seized a number of its servers on December 16, 2020. But much like The Pirate Bay, Joker’s Stash set up new infrastructure on the web and operations continued until the retirement announcement.

“Joker goes on a well-deserved retirement. Joker’s Stash is closing,” the farewell letter said. “When we opened years ago, nobody knew us. Today we are one of the largest card/dumps marketplaces.”

Admins promised to leave the store’s “Stash” open for 30 more days and told people not to fall for any phony websites that could appear in the future. In capital letters, Joker’s Stash said that it would “never open again.” Joker’s Stash made it clear that customers should not trust any imposters going forward.

The hoard Joker’s Stash obtained from payment card records stemmed from firms that saw large data breaches over the years. Gemini Advisory said that Joker’s Stash data came from high-profile hacks that saw the loss of massive amounts of confidential customer data.

Merchants caught in the hacker’s crossfires include Whole Foods, Saks Fifth Avenue, Hilton Hotels, Hy-Vee supermarkets, and Lord and Taylor.

What do you think about the Joker’s Stash admins retiring after operating since 2014 and raking in $1 billion in digital assets? Let us know what you think about this subject in the comments section below.

Kim Dotcom Publishes a Website That Highlights the Benefits of Bitcoin Cash

Kim Dotcom Publishes a Website That Highlights the Benefits of Bitcoin Cash

On February 12, the founder of the now-defunct file-sharing website Megaupload and cryptocurrency proponent, Kim Dotcom tweeted about a new website he created that shows the upside of bitcoin cash. The web portal whybitcoincash.com highlights why people should join the digital money revolution and how “cryptocurrencies stand to transform the way business and individuals exchange value.”

Kim Dotcom Launches Whybitcoincash.com

In mid-January, news.Bitcoin.com chatted with Kim Dotcom and he discussed how he planned to “accelerate” the mission of peer-to-peer electronic cash. Dotcom has been very vocal about his support for bitcoin cash (BCH) and before our interview, the internet entrepreneur said his next-generation content monetization app K.im will see bitcoin cash (BCH) integration. Dotcom has continued to pursue accelerating bitcoin cash adoption and on Friday, Dotcom told his 700,000 Twitter followers about his new website.

“Many people are asking me why I’m supporting Bitcoin Cash and why I think it has the biggest upside potential,” Dotcom tweeted. “Good question. I made this little website for you.”

Kim Dotcom Publishes a Website That Highlights the Benefits of Bitcoin Cash
The new website gives people a number of reasons why the Bitcoin Cash (BCH) network has a lot of benefits.

The website is called whybitcoincash.com and it explains the many benefits bitcoin cash (BCH) has to offer in contrast to bitcoin (BTC). The website explains that BCH is just like BTC, but with a number of adjustments making it the “digital equivalent of cash.”

The website details how BTC can be considered the “digital equivalent of gold.” BCH, on the other hand, has stayed consistent with Satoshi Nakamoto’s white paper, which is a “purely peer-to-peer version of electronic cash.”

The whybitcoincash.com site also explains the differences between each network, as BCH has 100 transactions per second (tps), while BTC’s tps is 3-7. The website also highlights that BTC is impractical for micro-transactions with fees fluctuating between $5 to even $50 per transfer. Moreover, people often assume the gold market is massive, and it’s true a market valuation of $10 trillion is still much larger. If bitcoin managed to acquire a market capitalization of that size, it still wouldn’t be as large as the worldwide cash market at $100 trillion.

Whybitcoincash.com emphasizes that the global transaction market is roughly around 3 trillion transactions per year. 75% are cash transactions, 13% are done with credit cards and another 12% are done with some other form of payment.

The raised Bitcoin Cash (BCH) block size of 32MB allows the blockchain to scale and process more transactions than BTC.

If the Bitcoin Cash network was able to capture just 1% of the global transactions, BCH would take on 82 billion transactions per day. Bitcoin cash wants to be a lean mean transaction machine, and during the stress tests in September 2018, the blockchain processed 2.2 million transactions in 24 hours on the first day of the month. While the week-long stress test took place, the median BCH transfer fees were only about $0.001 per transaction.

“Bitcoin Cash wants to be carbon neutral, and put in everyone’s hands the power to create a positive impact,” Dotcom’s whybitcoincash.com site says. To top it all off, the website highlights that BCH has more than 100,000 merchants that accept the crypto asset, it is borderless, uncensorable, and peer-to-peer electronic cash that allows individuals to send “directly from one party to another without going through a financial institution.”

Bitcoin Cash Values Jump

After Kim Dotcom shared the new website, bitcoin cash markets jumped over 9% during the 24-hour time period. At 9:02 p.m. (EST) on Friday evening, BCH touched a daily high of around $585 per unit and was up 27% for the week. At press time on Saturday, BCH is just above the $560 per unit price range.

BCH jumped 4.51% against BTC and 15.12% during the last seven days against ethereum (ETH). Monthly stats show BCH has gained 10% but during the last 90-days, bitcoin cash has also increased by 136% against the U.S. dollar. Bitcoin cash has an overall market capitalization of around $11.22 billion, as it ventures into the weekend trading sessions.

Holders’ Composition by Time Held stats for bitcoin (BTC), according to Into the Block insights, shows that BTC has 60% for a 12 month period, while bitcoin cash (BCH) has 91%.

Statistics for Friday evening’s BTC and BCH transactions.

Meanwhile, BTC’s seven-day stats for transactions greater than $100k shows $176 billion has been settled. Bitcoin cash has 24.43% of that settlement as $43 billion has been processed during the last week as far as transactions greater than $100,000.

Rising Daily Transactions, Privacy and the Ability to Forge Tokens

Recently, news.Bitcoin.com reported on how BCH transactions were steadily rising and catching up to BTC’s transactions per day (tpd). This trend has continued and on Friday evening fork.lol data had shown BCH did more transactions during the 24-hour time period. Friday evening’s stats (EST) show that BCH processed 365,975 transactions and BTC processed 354,065.

Improvements the Bitcoin Cash (BCH) network has added over the years.

In addition to the descriptive website and Dotcom’s tweet on Friday showing the new domain to his followers, some individuals mentioned that BCH also has privacy and the ability to issue tokens.

Another list of Bitcoin Cash network improvements that have been completed during the last few years.

BCH supporters regularly leverage a protocol called Cashfusion and it has been noted to offer superior mixing techniques in comparison to traditional Coinjoin methods. For instance, on January 29, 2020, data analyst and BTC proponent, James Waugh, said that Cashfusion was far more practical than other Coinjoin protocols.

The Bitcoin Cash network also has Schnorr Signature capabilities as well. As far as tokens, the Simple Ledger Protocol (SLP) has seen extensive development during the last few years. A myriad of SLP tokens built on top of the BCH network already have real-world value and there are a couple of SLP-built stablecoins, including more than six million tether (USDT). Check out the video below with Bitcoinbch.com’s CEO, Hayden Otto discussing Kim Dotcom’s new website.

What do you think about the whybitcoincash.com website? Let us know what you think about this subject in the comments section below.

Colombia’s Financial Superintendent Approves Nine Crypto Platforms to Work With National Banks

Colombia's Financial Superintendent Approves Nine Crypto Platforms to Work With National Banks

In Colombia, the entity managed by the Ministry of Finance and Public Credit, the Financial Superintendence of Colombia (Superfinanciera) has revealed the authorization of alliances between Colombian banks and digital currency exchanges. So far, Colombia’s financial department has approved nine partnerships between exchanges and national banks in order to make cryptocurrency operations more accessible to citizens.

Colombia’s Financial Superintendent Wants to Spread Crypto Accessibility

The Republic of Colombia in South America has been friendly toward crypto assets like bitcoin (BTC) and other digital currencies over the years. More recently, during the first week of January 2021, the Superintendence of Corporations in Colombia explained in an official circular that local firms can leverage capital to purchase bitcoin.

Now the Financial Superintendence of Colombia (Superfinanciera) or FSC has revealed a trial between regulated financial institutions in the country and digital currency exchanges.

The organization tied to Colombia’s Ministry of Finance and Public Credit shared a tweet on January 29, 2021, that informed the public about the alliance between a number of national banks and a select group of crypto exchanges. The mission is to enable more cryptocurrency operations to make the crypto economy in Colombia more accessible.

Colombia's Financial Superintendent Approves Nine Crypto Platforms to Work With National Banks

The initiative started in 2020, and a number of exchanges had to get approval from the FSC in order to participate. To date, the financial watchdog approved nine digital currency exchanges so far, and the platforms Movii and Panda Exchange were included.

“The Evaluation and Monitoring Committee of the government pilot that will enable cash-in and cash-out operations in financial products of deposit on behalf of crypto asset exchange platforms selected nine out of fourteen initiatives that applied for tests,” the FSC explained. Essentially, the Colombian government’s crypto sandbox was created to enhance new technologies and financial products.

The Colombian Superintendence further said:

The pilot project does not have an impact on the current regulatory framework suitable for crypto assets, that is to say, it does not change the allocation of responsibilities in the information and risk management of this kind of transactions nor it could be understood as an authorization for the financial system to use the public’s savings to perform these operations or for the exchange platforms to be under the supervision of Superfinanciera.

Panda Exchange Founder: ‘The Colombian Government Opened the Door to Real Crypto Adoption’

News.Bitcoin.com has reported on the expansion of Panda Exchange during the last few years. In 2018, Panda expanded its crypto-to-fiat trading markets, in 2019 the company launched a number of hybrid point-of-sale (PoS) crypto ATMs in Bogota and Venezuela.

Colombia's Financial Superintendent Approves Nine Crypto Platforms to Work With National Banks

Panda is partnered with Movii and in order to become registered and a verified Panda Exchange user, all an individual needs is a valid Movii account.

“Our platform has been working on this initiative and subsequent approval since last quarter of 2020 in order to be included in that important and innovative ruling,” the company explained during the announcement.

Panda further added:

Now it is easier than ever to take part of the cryptocurrency world, thanks to this ruling, crypto assets trading could be part of your everyday life. [Panda Exchange] meets all the legal and financial requirements set to be authorized to enable operations in crypto-assets for Colombians through our partnership with Movii.

Speaking with news.Bitcoin.com, Panda Exchange founder Arley Lozano said his team was thrilled to make crypto assets more accessible to his Colombian brothers and sisters. “This is an opportunity that our team was waiting for and finally the government has opened the door to the real crypto adoption,” Lozano stressed. “We are extremely happy to be one of the crypto platforms that was chosen by Colombia’s financial authorities,” the exchange founder concluded.

What do you think about the Superfinanciera approving nine crypto platforms for this initiative? Let us know what you think about this subject in the comments section below.