Facebook reportedly working on its own Bitcoin-like cryptocurrency

Image: mashable

Hoping to invest in the next Bitcoin? Keep an eye on Facebook. No, but really. According to a Cheddar report, the company is hard at work on its own cryptocurrency. 

Cheddar, citing sources familiar with the matter, claims that Facebook users could use the new “digital token” to buy and sell through the platform. The social network is also “exploring other ways” that it could use such a currency. 

Mark Zuckerberg announced in January that Facebook planned to “go deeper and study the positive and negative aspects of” new technologies such as cryptocurrency. 

Four months later, it seems his vision is coming to fruition. Earlier this week, Facebook announced that its head of Messenger, David Marcus, would spearhead a group researching potential uses of blockchain across Facebook’s platforms. Marcus is a former Paypal president and CEO, and a member of cryptocurrency exchange Coinbase’s board of directors, so it’s pretty clear what they’re going for here. 

We’re a bit puzzled as to why exactly Facebook would want to create a new currency, but it would certainly make it easier for customers in different countries to buy and sell through the platform without extra conversion fees. It could also be a transaction resource for Facebook buyers in countries with more volatile currencies. 

At least, that may be what Facebook tells us in order to pass this all off as a project for the greater good. Of course, it’s also likely to come with a transaction fee, so we’re guessing it won’t hurt Facebook’s bottom line.

Read more: https://mashable.com/2018/05/11/facebook-working-on-cryptocurrency/

Famous investors are running out of insults for Bitcoin

Warren Buffett: An expert on rat poison.
Image: Daniel Zuchnik / Gettyimages

Bitcoin bashing has been a popular sport among the very rich for quite a while, but this week the usual suspects have considerably upped their game. 

These days, it’s no longer enough to call Bitcoin a bad or dangerous investment. If you want to convince the world that Bitcoin is no good, you need to conjure up a string of adjectives so scathing that it makes the Bitcoin sound worse than the plague. 

Just yesterday, in an interview with Yahoo Finance,  Berkshire Hathaway vice chairman  Charles Munger called Bitcoin “anti-social,” “stupid,” “immoral,” and a “turd.” He likened it to organ trading, said people pushing Bitcoin are a “disgrace,” and he somehow managed to squeeze the word “dementia” in there, too. 

And I didn’t just make the plague thing up; in an earlier comment, dating Dec. 2017, Munger actually likened Bitcoin to that largely eradicated, extremely infectious disease — though he mercifully didn’t specify whether he’s talking about the pneumonic or the marginally less horrible bubonic form. 

Munger’s boss, the CEO of Berkshire Hathaway, billionaire investor Warren Buffett, shares his outlook on Bitcoin. He, too, has recently become creative when it comes to bad-mouthing the popular cryptocurrency. A few days ago, he told CNBC that Bitcoin is probably “rat poison squared.”

I’m not exactly sure how you square rat poison, but it sounds very bad — far worse than regular rat poison. Though, to be completely frank, rat poison is only bad if you ingest it. Perhaps Buffett, who’d built his empire with long-term investments in no-nonsense stocks including Coca-Cola and Apple, is referring to owning a rat poison manufacturing business. That doesn’t sound so bad, unless you’re a rat. 

On Monday, Bill Gates himself joined the party, calling Bitcoin a “greater fool theory” type of investment. He added that he would short it if there was an easy way to do it, which was somewhat odd as there is a pretty easy way to short Bitcoin, as noted by investor and cryptocurrency proponent Tyler Winklevoss. 

If you’re keeping count, that’s two out of three richest people on the planet. Jeff Bezos, if you have something bad to say about Bitcoin, you had better start working on your derogatory remarks because the bar has been set high. 

I get it: Journalists like to ask rich people and famous investors about Bitcoin and they oblige them with answers. But some of these comments are borderline comedy, and are more likely to provoke a few laughs than to sway anyone’s opinion. 

Obviously, if you’re looking for quality information on Bitcoin, you probably shouldn’t listen to people who keep setting unrealistic price goals or just keep yelling “HODL,” either (in cryptocurrency lingo, “hodl” means holding on to an asset for dear life and never selling it, no matter the losses). There are plenty of smart, reasonable people in the cryptocurrency space who’ll likely skip the price talk altogether and focus on the technology, which is at the very least promising. 

Bitcoin’s price has pulled back somewhat following the remarks from Buffett, Munger and Gates, despite The New York Times‘ report that the New York Stock Exchange’s parent company ICE is looking to launch a Bitcoin trading platform. Historically, however, scathing remarks from famous investors have done little to stifle its price growth. Perhaps what’s needed is stronger words still — or perhaps the crypto crowd doesn’t really care about comments from people who are otherwise more or less uninterested in Bitcoin and cryptocurrencies. 

Disclosure: The author of this text owns, or has recently owned, a number of cryptocurrencies, including BTC and ETH .

Read more: https://mashable.com/2018/05/08/bitcoin-insults/

Bitcoin hit a new record high over Thanksgiving weekend

The cost of one bitcoin passed $9,000.

Bitcoin is getting more detailed and better to $10,000.

The cryptocurrency struck a record high of $9,033 per bitcoin early Sunday early morning. The cost increased progressively over the weekend and went beyond $9,000 at around 6:40 a.m. UTC (1:40 a.m. ET), inning accordance with CoinDesk’s Bitcoin Price Index . It now has a market cap of more than $150 billion.

Another digital currency ethereum likewise struck an all-time high of $485.18 on Saturday however has actually considering that dropped to $461.79 on Sunday, inning accordance with CoinMarketCap.

Bitcoin had actually been on an extraordinary run in the latter half of 2017. It was valued at $1,000 at the start of the year and is now closer to reaching the $10,000 mark as we inch towards to 2018. Bitcoin’s worth went beyond $5,000 and $6,000 in October and after that increased over $7,000 and $8,000 in November.

Price per one bitcoin

That stated, it’s prematurely to inform when the rate of Bitcoin will reach that $10,000 turning point due to the fact that the marketplaces act crazily and might deal with a rate correction, as The Merkle kept in mind .

Bitcoin was enhanced by financier interest around Thanksgiving and Black Friday shopping, a digital properties expert recommended to CNBC .

Indeed, Coinbase, the biggest bitcoin exchange in the United States, included around 100,000 accounts in between Wednesday and Friday today to reach an overall of 13.1 million. Coinbase had 4.9 million users this time in 2015, inning accordance with CNBC.

Read more: http://mashable.com/2017/11/26/bitcoin-9000-close-to-10000-price/

Bitcoin surges past $5,000 per coin

Image: GeniusKp/shutterstock

It has actually occurred: A single Bitcoin, the very same digital cryptocoin that you might’ve purchased for a few cents less than a years earlier, is now worth more than $5,000.

This isn’t really the very first time Bitcoin crossed this turning point — at some exchanges, it was quickly over $5,000 on Sept. 2 prior to greatly drawing back that exact same day. This time, it broke through with ease — one Bitcoin is presently trading at $5,161, having actually increased more than 7% in the last 24 hours alone.

Bitcoin’s rate has actually been on an insane rollercoaster (right constantly) because reaching that high mark in early September. It plunged to about $3,000 on Sept. 15, and then it began a brand-new sharp increase.

It’s never ever simple to figure out the factor for Bitcoin’s rate swings, however the most likely perpetrator this time is an approaching tough fork, arranged for Oct. 25. Much like the Bitcoin Cash divided in August, a group of designers is producing a brand-new variation — or fork — of Bitcoin, called Bitcoin Gold, which will reside on as a different entity from Bitcoin. The 2 cryptocurrencies will share the very same chain, implying that everybody who owns Bitcoin sometimes of fork will likewise own the very same quantity of Bitcoin Gold — and the last time this has actually taken place, it basically led to complimentary cash for Bitcoin owners.

The precise regards to this brand-new Bitcoin split are still rather dirty, so there might be more volatility ahead. Now, nevertheless, it appears that Bitcoin is about to set some brand-new records.

Read more: http://mashable.com/2017/10/12/bitcoin-5000-rise/

This Vegas club lets you tip strippers with Bitcoin

Image: LegendsRoom

If you’ve accumulated a fortune in Bitcoin and have no idea ways to invest it, here’s a concept: Go to Las Vegas and misuse all of it on alcohol and lap dances.

Legends Room is a “gentleman’s club” that accepts Bitcoin, Ethereum, and its own cryptocoin LGD for all deals.

That implies you might go there on August 26 to view the boxing bout in between fighter Floyd Mayweather and MMA fighter Connor McGregor, and spend for whatever with bitcoins.

The fundamental experience remains in the primary space of the club, which is open to the general public and charges $150 (payable in crypto) to enjoy the battle. If you go with the members location, you have to own 5,000 LGD tokens (if you do not have them, you can lease them at the entryway). And if you do not actually appreciate this crypto service, you can spend for whatever in money and charge card.

The existing cost of the LGD token on Bittrex has to do with $2.15 per token, however you understand how it is with these unpredictable cryptocurrencies — costs might increase or down prior to the occasion. The token itself does not appear to have any technical benefits over comparable cryptocoins, however ownership webs you considerable discount rates on beverages and club services.

The lap dances are where it gets fascinating. Throughout the occasion, dancers will be using a tactically put momentary tattoo with a QR code. If you wish to tip a dancer, wave the phone over the tattoo, and voila, you’re doing Vegas, crypto-style.

If you’re still uncertain whether all this is too adult-only to bring your minor nephew along, bear in mind that the location will be bursting with pornography stars throughout the occasion, consisting of Jesse Jane and Tasha Reign.

Disclosure: The author of this text owns, or has actually just recently owned, a variety of cryptocurrencies, consisting of BTC and ETH.

Read more: http://mashable.com/2017/08/21/legends-room-strippers-bitcoin/