Homeowners now accepting bitcoin in latest cryptocurrency trend

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Bitcoin for homes.
Image: bob al-greene/mashable

The bitcoin craze has officially jumped to real estate. 

Despite the risky, volatile nature of cryptocurrency, homes and property across the U.S., Australia, Canada, and beyond are for sale for the unpredictable coin. Even after one bitcoin dropped from $14,000 to $11,000 in value in a matter of days, homeowners are still putting up their homes for some of that flashy money.

It’s not just a few listings here and there. According to Bitcoin Real Estate,  a site that has been tracking the business for several years, the trend is growing more and more and not slowing down.

At the end of 2017 a Miami condo reportedly sold for 17.7 bitcoin and actual cryptocurrency was exchanged between the buyer and seller. Not just bitcoin converted into cash, which is the more popular way to use the coin.

Trulia spokeswoman Andrea McDonald found 80 listings on the site that reference cryptocurrency in some way. Many just note “bitcoin accepted,” but others really get into it.

A property near Joshua Tree National Park in Southern California makes that case for paying with cryptocurrency, insisting that the property “can be a nice investment for future at a very reasonable $5,250 per acre for a total of $2.1 million or 124 bitcoins.”

Another home in West Palm Beach, Florida, is open to buyers with bitcoin and ethereum and litecoin, but with the caveat that cryptocurrencies are constantly changing. “Owner financing possible $149,900 USD, 13 bitcoin 375 ethereum, 950 litecoin (crypto price subject to change. Inquire crypto price at time of interest),” the listing says.

So far Trulia hasn’t officially seen a sale go down with the coin, McDonald said, but it’s probably just a matter of time.

Redfin, another online real estate database, has also seen a crypto trend in its listings, especially in hubs like the Bay Area and Miami. The number of listings that accepted cryptocurrency jumped from 75 in December to 134 in mid-January. Some of those 134 listings have sold, but as a Redfin spokesman explained it’s unclear if cryptocurrency was used for all or a portion of the sale price.

Some of the listings are trying so hard to initiate a cryptosale. A Florida home used all caps and asterisks to lure in investors, screaming, “**BITCOIN SALE PREFERRED! Unique opportunity to be one of the first transactions using Bitcoin.**”. Another listing for a property in Washington state, meanwhile, was generous with exclamation points: “Seller willing to accept BITCOIN!!! The new rate of cryptocurrency that [sic] taking the world by storm!” 

Aaron Drucker, a Redfin agent in Miami, said in a phone call that including cryptocurrency in a listing gives a property more exposure. He’s also noticed that bitcoin listings tend to be luxury condos. “Earlier investors in bitcoin have made a lot of money,” he said. “They may want to convert some of that into a tangible asset.”

“I wouldn’t recommend this for first-time home buyers.”

But bitcoin sales aren’t for everyone. “I wouldn’t recommend this for first-time home buyers,” he added. “But if you want to buy a second home, this might be something to consider.” No matter how you look it at, Drucker said, it’s “definitely risky.”

Others are using bitcoin and other coins for their lucrative value. A Redfin agent in San Diego helped a buyer cash out two bitcoin valued then at nearly $7,500 each to cover closing costs for a home in Carlsbad, California. 

Carina Isentaeva, a Redfin agent in San Francisco, is in the center of the crypto-mania. In a call she said it’s all about “crypto homes” now. She had a deal that fell through because the buyer’s ICO flopped. But more surprising to Isentaeva was that the seller was willing to work with a cryptocurrency contingent sale. “You couldn’t imagine this a few years ago,” she said. “Everyone would want to see a bank statement,” not ICO filing paperwork.

Another big issue holding up more sales with actual cryptocurrency is regulation. Just finding an escrow service that will handle a crypto sale instead of traditional cash is difficult. As Isentaeva noted, the technology is moving much faster than government and laws. So the workaround is to convert bitcoin into cash and then buy property. But eventually the tech should catch up and the transaction will be more streamlined — at least that’s what Isentaeva hopes.

But no matter the difficulties, the crypto listings keep coming. Welcome to the neighborhood, bitcoiners.

Read more: http://mashable.com/2018/01/22/cryptohomes-real-estate-bitcoin-cryptocurrency/

Bitcoin Whipsaws Investors as Bubble Shows Signs of Bursting

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Bitcoin whipsawed investors, falling below $8,000 for the first time since November before recovering most of Friday’s losses, as a miserable 2018 continued for cryptocurrencies.

Since reaching a record high of $19,511 on Dec. 18 shortly after the introduction of regulated futures contracts in the U.S., Bitcoin has wiped out more than half its value amid waves of negative news. Setbacks included escalating regulatory threats from authorities around the world including India, South Korea, China and the U.S., a record $500 million heist at Japanese exchange Coincheck Inc., fears of price manipulation and Facebook’s ban on cryptocurrency ads.

PMorgan Chase & Co. and Bank of America Corp., the nation’s two largest banks, said Friday they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. Japanese authorities raided Coincheck’s offices Friday morning, a week after the robbery, hauling out documents and computers as evidence. The inspection was conducted to ensure security for users, Finance Minister Taro Aso said.

“Bitcoin is in trouble,” Lukman Otunuga, a research analyst at foreign exchange broker Forextime Ltd, wrote in a note Friday. “Price action suggests that bears are clearly in control, with further losses on the cards as jitters over regulation erode investor appetite further.”

The largest digital currency dropped as much as 16 percent to $7,643, before trading at $8,646 at 4:47 p.m. in New York, according to consolidated Bloomberg pricing. Bitcoin tumbled 21 percent during the week, the biggest five-day decline since Jan. 16. Rival coins Ripple, Ether and Litecoin tumbled at least 28 percent as losses continued to spread across cryptocurrencies.

Nouriel Roubini of Roubini Macro Associates said Bitcoin is the “mother of all bubbles,” and its bubble is now bursting, speaking in an interview on Bloomberg Television. He said “virtually every” Group of 20 country is talking about cracking down on the phenomenon as policymaker worries grow.

For more on cryptocurrencies, check out the podcast:

Related news and information:
Bitcoin’s Huge Arbitrage Play Just Vanished as Korea Bubble Pops
Roubini Says Bitcoin Is the ‘Biggest Bubble in Human History’

To see Bloomberg’s cryptocurrency monitor, type VCCY

    Read more: http://www.bloomberg.com/news/articles/2018-02-02/bitcoin-drops-below-8-500-as-cryptocurrency-misery-continues

    Meet CoinDaddy, the Bitcoin rapper living that ‘crypto life’

    Arya Bahmanyar, 28, searched for “cheap Halloween costumes,” purchased an awful pimp getup, and his transformation into CoinDaddy was complete.

    “I wore it and we started making songs,” the rapper tells the Daily Dot. “I literally have 40 songs.”

    His anthems about blockchain technology and Bitcoin are self-aware, ridiculous, and actually kind of good despite the transparently borrowed ‘90s hip-hop ideas. He says he’s about that “crypto life,” and in some ways, his own rise to internet fame mirrors the ascent of cryptocurrencies: He used an old 13-inch MacBook Pro with Ableton Live to mine his career.

    CoinDaddy makes all of his beats, writes the lyrics, and sings into a $20 microphone he bought from Amazon. Songs like “Blood vs. Crypto” are viral hits, and he dispenses them via Twitter, YouTube, and Patreon accounts. He describes his music as “Eminem meets Weird Al Yankovic,” something for everyone. 

    “If you don’t like the rapping, you’ll like the character,” CoinDaddy says. “If you don’t like the character, you’ll like the funny videos.”

    The outlandishness of CoinDaddy stands in stark contrast to the decentralized nature of Bitcoin and anonymity of its creator and some of its biggest benefactors. That’s helped turn him into something of a poster child for the cryptocurrency scene. A New York Times trend feature this month shined a light on CoinDaddy among the quirky revolutionary types getting rich on internet money, organizing in Slack chatrooms, and disrupting global markets with digital money.

    CoinDaddy says he became a millionaire because he invested in Bitcoin in 2013 and then rode the bubble from there. Today, he’s a trader who spends most of his free time working on CoinDaddy. Mark Wahlberg’s production team and MTV have reached out about reality TV, he says.

    CoinDaddy is, as he puts it, more of “an entertainer figure that came out of this random, bizarre subculture that nobody had really heard about until the Bitcoin price started going crazy.”

    This week the price of a Bitcoin is more than $11,400. Like the hook in his best song goes, CoinDaddy is indeed “the player who got the blockchain tight.”

    CoinDaddy says his parents are happy for his success, though they don’t really understand how he created value out of thin air.

    “The internet is almost like this new shared continent that we all live on together, and this continent happened to create its own interesting form of money and then Wall Street and speculators came in,” he says.

    CoinDaddy grew up in the Bay Area and studied international business at George Washington University. After college, he worked in real estate and moved to New York City, which is where a random Bitcoin meetup piqued his interest.

    “I couldn’t believe that a bunch of nerds were literally trying to create their own money,” he adds.

    He likes to riff on the notion that the cryptocurrency scene is populated primarily with awkward, Reddit-commenting introverts, but he’s serious about the technology’s potential—and about being front and center, versus some of the reclusive, libertarian tech bros he runs with.

    “They’re trying to hide their money and I’m not trying to hide my money, I pay my taxes,” CoinDaddy says. “I think that living in fear is not a proper way of living life and it’s a self-defense mechanism because they just came into money.”

    CoinDaddy loves the inclusive possibilities of the Bitcoin utopia. He says it’s hindered by speculative greed that keeps people out of the game with high transaction fees, but he adds that the upcoming lightning network will be a great equalizer. He doesn’t worry about Chinese and South Korean sanctions on the technology, either, comparing cryptocurrency to decentralized services like Napster and BitTorrent.

    “It’s like a hydra, there’s nothing they can even do,” CoinDaddy says, defiantly. “We’re believers in the coin and we’re holding.”

    For now, CoinDaddy will continue to be the bombastic hype man of the crypto scene. He’s planning shows in San Francisco, Paris, and Geneva this year at developer conferences and tech events, and he stresses that CoinDaddy is an exaggerated version of himself, “dialed up to 11.” 

    “Let’s create the most braggadocious, like, awful human being of a character that we could possibly create,” he says.

    But CoinDaddy doesn’t seem like a bad guy. He wants you to get rich on crypto. He’s happy to tell you all about it with the exuberance of someone who’s drawing out a big idea on a whiteboard. Like Kanye West once wrote: Maybe you could be his intern, and in turn, he’ll show you how he cooked up summer in the winter.

    Read more: https://www.dailydot.com/upstream/coindaddy-bitcoin-rapper/

    Why is Bitcoins price down to two-month lows?

    Crypto investors are seeing red this week. Bitcoin plunged to two-month lows on Thursday, dipping below $9,000 for the first time since November. At the time of writing, Bitcoin had bounced back up to the $9,200 level, down from weekly highs just above $12,000. This week has seen coins across the board in the red — a sign that investors are jumping ship to fiat currencies this time instead of swapping into altcoins as we’ve seen in the recent past.

    At the time of writing, the total cryptocurrency market cap weighed in at $459 billion, down from January highs around $830 billion. It’s a contraction to be sure, but not a low for the last 30 days (that low came on January 18).

    Is this the bitter end for Bitcoin? For cryptos? Well, no, probably not. Get your head screwed on right and you’ll see that (for better or worse) many coins have seen unprecedented growth in the last six months to a year, even with Bitcoin’s price halved from holiday highs closer to $20,000. On this day last year, Bitcoin was sitting pretty at $982. At the height of December’s craze, most reasonable crypto-watchers could agree that the price was overheated and there was only one way for it to go in the short term. Still, in the thick of the current correction, Bitcoin’s longer-term growth is anyone’s guess.

    Cryptocurrency die-hards expecting the price to bounce back, even partially, will see these tanking numbers as the perfect entry point for getting in low and maximizing gains. Late speculators who got in during the mass crypto hysteria of the holiday season aren’t likely to have such steady hands, a factor that’s likely contributing to the slide.

    So what’s causing the slide to begin with? As usual, no one thing can be blamed for Bitcoin’s current downturn, but recent skittishness around a subpoena for Bitfinex and concerns around Tether — a kind of cryptocurrency counterpart to USD that matches the dollar one to one — probably factor in. Recent news that Facebook would ban ads for ICOs probably didn’t help either. And it seems like every day a new Ponzi scheme gets busted, throwing yet more doubt on the credibility of plenty of less than legit ICOs.

    Even beyond news cycle highs and lows, Bitcoin has seen a few mid-January dips before, though 2017’s Bitcoin behavior certainly broke from any seasonal patterns of the past.

    Still, these growing pains are far from surprising. As cryptocurrencies mature — assuming they continue to do so — regulatory “bad” news will become more common. Countries across the globe will continue to struggle to accommodate their citizens’ sudden interest in digital currencies — or not, in the case of India, which just decided to ban them outright. Unsurprisingly, headlines like these inspire a sense of foreboding among cryptocurrency enthusiasts wondering which country will be next to come down hard. Fear, perhaps justified fear for many speculators with plenty to lose, amplifies each new regulatory revelation. But for cryptocurrencies to grow out of the current scam-laden chaotic era, a thorough house cleaning is healthy.

    Bitcoin and other cryptocurrencies have also looked less responsive to positive news in the latter half of January compared to their relative buoyancy during December’s dizzying highs. Then, every little positive news blip seemed to push the prices higher.

    Bitcoin aside, some altcoins might just be adjusting from overheated, overhyped December highs. Ripple is a good example of this, hovering around $1 Thursday, a price that’s five times its November value and only looks bad after XRP flew a bit too close to the sun with sudden early January highs above $3. Ethereum is also faring pretty well, all things considered, down from all-time highs above $1,400 but holding most of its newly built value after doubling in price from December prices around $500.

    It’ll be interesting to see what happens as we move into next week’s Senate Banking Committee hearings on cryptocurrency. Titled “Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission,” the open hearings will air on February 6 at 10:00 Eastern time. It’s possible that the upcoming discussion in Congress has traders nervous, but ultimately variables from all over the globe combine to affect the market every day.

    For anyone considering riding out the current correction, a little historical perspective — in this case, even a few months’ worth — could go a long way.

    Disclosure: The author holds a small position in some cryptocurrencies. Regrettably, it is not enough for a Lambo.

    Read more: https://techcrunch.com/2018/02/01/why-is-bitcoins-price-down/

    Bitcoin in a nutshell

    Read more: http://imgur.com/gallery/Vf4df

    Tech Q&A: Bitcoin tips, smartphone tax breaks, getting the most Out of Alexa and more

    Echo’s abilities

    Q: I have had my Amazon Echo for over a month now. I use it to check the weather, traffic, and sports scores. But frankly, other than that, it’s a speaker taking up space.

    A: For many folks, the Alexa magic wears off pretty quickly, and – as you say – the Echo can feel like any other decoration. But before you regift your device to a distant relative, try commands that you haven’t thought of before. Sometimes it’s just a matter of what to say and how to say it, plus a plethora of inventive new skills. Click here for a list of little-known Alexa commands.

    Buying into Bitcoin

    Q: Where is the safest place to buy a Bitcoin?

    A: Now that everyone is obsessing over Bitcoin – even people who had never heard of it only a few months ago – many amateur investors are dying to get their hands on the virtual currency. When any business opportunity explodes in popularity, so does the presence of scammers. In the virtual atmosphere of Bitcoin, you have to be extra cautious that you’re buying something authentic. Bitcoin has a cool logo and a smattering of physical ATMs, but there is no physical, legal tender that you can hold onto and stick in your safety deposit box. It’s best to learn everything you can. Click here for tips about Bitcoin, including how to buy it the right way.

    More on this…

    Read more: http://www.foxnews.com/tech/2018/02/10/tech-q-bitcoin-tips-smartphone-tax-breaks-getting-most-out-alexa-and-more.html

    According To This Analysis, Bitcoin Will Bounce…

    Read more: http://www.ifunny.com//pictures/according-analysis-bitcoin-will-bounce/

    Q&A: How is the growth of bitcoin affecting the environment?

    The growth of bitcoin is fueling speculation and debate about the environmental impact of the energy needed to power the virtual currency in the era of climate change. Some questions and answers about the issue:

    ___

    WHAT IS BITCOIN?

    Bitcoin is the most popular virtual currency in the world, and it has fluctuated significantly in value over the past year. It was created in 2009 as a new way of paying for things that would not be subject to central banks that are capable of devaluing currency. The sustainability concerns about bitcoin, voiced by economists and environmentalists, stem from the process of “mining” that is central to its existence.

    The “miners” use computers to make complex calculations that verify transactions in bitcoins. This uses a tremendous amount of energy via computers and server farms all over the world, which has given rise to concerns about the amount of fossil fuel-dependent electricity used to power the computers. Some estimates say bitcoin’s energy impact is more than that of a small country.

    ___

    WHY IS BITCOIN ATTRACTIVE?

    Bitcoin is a kind of digital money that isn’t tied to a bank or a government, and its value rose swiftly in the second half of 2017 before falling early this year. It’s volatile. The value of one bitcoin was about $16,500 in late December 2017, compared with about $1,000 in March 2017, and then it dipped to about $7,700 in the first week of February this year. A bitcoin itself is essentially a line of computer code. It’s signed digitally when it goes from one owner to another.

    ___

    WHY ARE CRITICS CONCERNED ABOUT BITCOIN ENERGY USE?

    Bitcoin can’t exist without computers, which can’t exist without a source of electricity. And the number of computers and the energy needed to power them is rising.

    The growing value of bitcoin is directly tied to the amount of energy it uses. The miners unlock bitcoins by solving complex, unique puzzles. As the value of bitcoin goes up, the puzzles become increasingly more difficult, and it requires more computer power to solve them.

    Some estimates say more than 60 percent of the processing power used to mine bitcoin is in China, where it relies heavily on the burning of coal. The Chinese government revealed plans in January to shut down bitcoin mining, partly because of concerns about energy consumption.

    Coal and other fossil fuels are also the largest generator of electricity for the rest of the world, and coal is a significant contributor to manmade climate change. Burning it produces carbon dioxide, a gas that is a primary contributor to global warming.

    This reliance on fossil fuels has given rise to speculation that bitcoin’s energy consumption will continue to rise as it grows in popularity.

    ___

    HOW MUCH DOES BITCOIN REALLY AFFECT ENERGY CONSUMPTION?

    Estimates vary, and a true figure could be impossible to come by because of the intentionally anonymous nature of bitcoin use. But Dutch bitcoin analyst Alex de Vries, who operates a Bitcoin Energy Consumption Index on the website Digiconomist, has produced estimates he believes are alarming.

    If bitcoin miners are using the most efficient machines possible, the lowest amount of electricity they could possibly be using is 13 terawatt hours, de Vries said in an interview. That’s about as much as the entire country of Slovenia. De Vries said less conservative estimates make it entirely possible that bitcoin is using as much energy as Ireland, which consumes about twice as much as Slovenia, or about 0.7 percent of the U.S. total.

    The problem is getting worse, said de Vries, who estimated the annual amount of energy consumed by bitcoin rose by a fifth in the final weeks of 2017.

    On the other hand, Oscar Lafarga, co-founder of a Fort Lauderdale, Florida, technology company that consults on cryptocurrency, said bitcoin’s growth could spur interest in green energy.

    “In a way, it could be the driving force for breakthroughs on renewable energy,” he said.

    In Iceland, an abundance of renewable energy from geothermal and hydroelectric plants has helped spawn bitcoin mining.

    ___

    WHO IS RIGHT IN THE BITCOIN DEBATE?

    The extent of bitcoin’s impact on the environment, and how much that should matter to people who use it, is a source of debate.

    While de Vries says bitcoin is consuming an “insane amount of energy,” both on its own and relative to older payment systems such as credit cards, others think the situation is not so dire.

    Bitcoin investor Marc Bevand, of St. Louis, has written that bitcoin likely uses close to four or five terawatt hours, less than the annual electricity consumption for Christmas lights in the U.S. He said that he believes bitcoin’s benefits, such as making payments more efficient and helping people escape inflation, outweigh the environmental toll.

    However, he added: “We don’t have exact data to say how much we are benefiting from bitcoin.”

    Read more: http://www.foxnews.com/us/2018/02/11/q-how-is-growth-bitcoin-affecting-environment.html

    Bitcoin is plummetingand the entire crypto market is going down with it

    The entire cryptocurrency market is plummeting, and there’s no floor in sight.

    DigixDAO, a coin that tokenizes gold on the Etherium blockchain, is the only cryptocurrency in the top 100 to rise in value, jumping 38 percent on Friday morning, according to CoinMarketCap. The other 99 leading cryptocurrencies are seeing red, with Bitcoin falling 17 percent and Etherium tanking 30 percent. Other lesser-known virtual coins are falling just as quickly, with 50 of the top 100 declining by 30 percent or more.

    The result of these simultaneous declines is an overall market value drop from around $500 billion to $375 billion in just 24 hours, as you can see in the CoinMarketCap graph below.

    CoinMarketCap

    Cryptocurrency is a form of digital money that isn’t regulated by banks or the government. It uses cryptography techniques to ensure secure transactions and control the creation of new units.

    Bitcoin, the leading cryptocurrency that has dominated headlines over the past 12 months, hit a low of 7,849 on Friday morning, less than 60 percent of the record-high it set just two months ago. The digital coin, which turned a high-school drop out into a millionaire and millionaires into billionaires, has dropped $2,000 in two days. The last time Bitcoin was worth less than $8,000 was on Nov. 24, when it was enjoying a monumental 15-time increase over 12 months.

    “The wheels are coming off the bitcoin bandwagon,” Neil Wilson, a senior market analyst with ETX Capital, told Business Insider. “The regulatory crunch appears closer than ever and sooner or later this market could be headed back down to earth. Selling pressure at the moment is intense as there has been nothing but bad news for bitcoin bulls of late.”

    Nouriel Roubini, aka “Mr. Doom,” the economist who accurately predicted the 2008 financial crisis, called cryptocurrency the “biggest bubble in human history” and the “mother of all bubbles” in an interview on Bloomberg Television.

    “Policymakers and regulators are getting worried. Pretty much every G20 policymaker is talking about a crackdown,” Roubini said. “We can’t allow it to become the next Swiss bank account for use by criminals and people evading tax.”

    The new year has not been kind to cryptocurrency. Its decline started a few weeks into 2018 amid fear of government regulation. In September, China said it would stop exchange trading of cryptocurrency, causing Bitcoin to drop 40 percent in one month.

    The market’s volatility was further exposed earlier this week when confusion surrounding South Korea’s stance on cryptocurrency was blamed for major declines. Reports claimed the justice ministry for the world’s third-largest cryptocurrency market was working on a bill to ban cryptocurrency trading and exchanges, however, South Korea’s finance minister later said the government has no plans to shut down trading.

    But cryptocurrencies continued to decline. Now all fingers are pointing at India. The country’s finance minister, Arun Jaitley, wants to enact a nationwide ban on virtual coins.

    “The government does not recognize cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system,” Jaitley said in a budget speech on Thursday.

    Facebook may also have something to do with the decline. The social giant announced a ban on cryptocurrency advertisements on Tuesday, citing “misleading or deceptive promotional practices.” Elsewhere this week, news broke that the U.S. Commodity Futures Trading Commission is investigating Tether, a controversial cryptocurrency and company.

    But don’t count Bitcoin and its rivals out just yet. They’ve proven their ability to bounce back from seemingly insurmountable roadblocks. In fact, Bitcoin jumped $1,200 in less than two hours on Friday morning.

    Read more: https://www.dailydot.com/debug/cryptocurrency-bitcoin-decline/

    50 Cent used to sell albums for Bitcoin and now he’s rich

    Bitcoin millionaire Curtis Jackson aka 50 Cent.
    Image: Dave Kotinsky/Getty Images

    If you’re looking for 50 Cent you can probably find him in the club, celebrating his new Bitcoin fortune worth over $7 million.

    Yeah. Apparently years ago while you were all snoozing on the future cryptocurrency fad, rapper 50 Cent “took a chance” on Bitcoin and started accepting the digital coin as payment for his music.

    He essentially forgot all about it, until the recent Bitcoin boom reminded him, and has since realized the move seriously paid off.

    The rapper’s unexpected riches were first reported by TMZ on Tuesday, who noted 50 Cent first started accepting Bitcoin as payment after releasing his 2014 album, “Animal Ambition.” 

    Back then the currency was valued at around $662 per Bitcoin, so people could buy an album for a teeny tiny fraction of a bitcoin.

    “Animal Ambition” reportedly earned around 700 Bitcoin in sales according to TMZ’s sources, which already uh translates to more than $400,000 in 2014 dollars.

    In 2018 Bitcoin’s been booming, and the current value of the rapper’s forgotten digital currency is around $7.7 million based on today’s Bitcoin price. Casual. 

    50 Cent addressed the news on Instagram, sharing a screenshot from the TMZ article with the caption, “Not Bad for a kid from South Side, I’m so proud of me. LOL #denofthieves”

    While Bitcoin’s had a good run the past few months, it’s been crashing recently so 50 might want to make some moves.

    Perhaps these valuable life experiences will lead to a future Bitcoin rap album: “Get Rich on Bitcoin, or Die Tryin.”

    Read more: http://mashable.com/2018/01/24/50-cent-bitcoin-millionaire/