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

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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.

A little bit coin anyone ? LOL. l know l make you sick but excuse me I’m getting to the bag 💰#denofthieves

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A post shared by 50 Cent (@50cent) on

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/

Learn how to buy and sell Bitcoin in this online class for beginners

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Want to get abundant enough to fill tubs with dollar expenses simply for kicks? Could Bitcoin make that take place? Let’s dive in.

When Bitcoin debuted in 2009, its early adopters purchased up big quantities of the digital currency for cents. Ever since, Bitcoins worth has actually increased drastically , turning numerous of those preliminary financiers into millionaires. The economics surrounding Bitcoin and other kinds of digital currency like Ethereum, Ripple, Litecoin, and most just recently, Bitcoin Cash , all called cryptocurrency, can be complex and unforeseeable.

One substantial advantage to utilizing cryptocurrency is that it cannot be taken or fake. When digital currencies are exchanged, they’re transformed into illegible code that not just makes them safe and secure however likewise makes the sender and receiver appear confidential. Unlike regular currency, digital currencies are not federal government managed. No high bank costs, no variations based upon federal government guidelines, and no corrupt bank shenanigans. Sounds quite great?

Unfortunately, with decentralization comes instability, and cryptocurrencies are understood for being unforeseeable and extremely unstable. Like the majority of high-risk financial investments, this leaves chance for reaching outrageous levels of wealth (significance you can lastly blow your nose in hundred dollar expenses).

For the typical individual to accomplish success in cryptocurrency markets, she or he will have to get knowing. Thats where the Beginners Guide to Cryptocurrency Investing can be found in. It will offer you all the understanding youll have to make wise options and turn your physical money into a large digital stash.

Over the course of 27 lectures and 2.5 hours of material, this program will teach you techniques for buying altcoins, ways to optimize your return, and ways to transform those coins back into genuine cash. Youll find out about the different cryptocurrencies offered and which is ideal for you and you’ll dive into the digital currency neighborhood, collecting important research study and insights along the method. Youll be able to approximate the real worth of the whole market and choose where and when to make your relocation.

Now is the time to make your digital fortune. Get the Beginners Guide to Cryptocurrency Investing for $15 , an extraordinary decrease from the routine $180 cost.

Read more: http://mashable.com/2017/08/14/what-is-bitcoin-and-how-to-make-money-with-it/

Bitcoin’s current price swings indicate even bigger volatility in the future

Image: Christopher Mineses/Mashable

If you’ve been following the rate of Bitcoin, you’re accustomed to volatility. Considering that the start of 2017, the rate has actually quadrupled, however a couple of sharp drops implied that financiers might’ve quickly lost cash.

But the current cost drop– from an all-time high of around $4,500 to $3,500, and after that back to $4,200 once again– is various.

This volatility comes soon after the intro of Bitcoin’s just recently created bro, Bitcoin Cash. This other cryptocoin was developed on August 1 by a group that wasn’t delighted with the instructions Bitcoin was heading.

It’s presently the 3rd biggest cryptocurrency, with a market cap of more than $11 billion, and its rate has actually just recently tripled– from around $300 to $900– prior to falling back to around $660. This cost increase of Bitcoin Cash has accompanied the cost drop of Bitcoin, so exactly what’s occurring?

All you have to understand remains in this chart, which reveal the wild swing of how successful it is to mine Bitcoin and Bitcoin Cash.

At one point it ended up being a lot more rewarding to mine Bitcoin Cash than Bitcoin.

Image: fork.lol

Both Bitcoin (BTC) and Bitcoin Cash (BCH) procedures use something called trouble modification, that makes sure that miners (individuals who utilize their computing power to produce brand-new bitcoins and power the Bitcoin network while doing so) constantly my own an optimum variety of bitcoins in a particular quantity of time. When there’s excessive mining power, trouble increases to make sure brand-new bitcoins do not flood the marketplace too quickly.

But when the mining power is doing not have, trouble decreases, and it decreased greatly for Bitcoin Cash. All of a sudden, a computer system that might mine one BCH (Bitcoin Cash) daily might mine numerous times as numerous, making a lot more earnings. And because Bitcoin and Bitcoin Cash are extremely comparable, it’s simple for miners to leap ship– and a great deal of them did.

The chart above demonstrate how rewarding it is for miners to mine BTC rather than BCH. On August 18, it ended up being more rewarding to mine BCH, and considering that miners almost constantly follow success, they merely changed to mining BCH rather of BTC. On August 22, it ended up being more successful to mine BTC once again, so miners are returning (see chart listed below).

The mining power is going back to Bitcoin.

Image: fork.lol

There was likewise a negative effects to this: As mining power (likewise called hash power or hashrate) went away from BTC to BCH, Bitcoin deals ended up being slower and more pricey; now that it’s returning, the reverse is taking place.

All of this is the most likely reason the rate of Bitcoin is presently recuperating while the cost of Bitcoin Cash is falling (though undoubtedly not extremely quick). This brief turnaround reveals how delicate Bitcoin truly is.

The politics of Bitcoin is untidy and ready to get messier

That little chart above will end up being extremely important once again in November, when Bitcoin will when again fork (split into 2) to embrace a proposition triggered SegWit2x .

This proposition was turned down by Bitcoin’s core advancement group, as well as though most of Bitcoin exchanges and miners have actually vowed to update, it may trigger a great deal of problem for Bitcoin. Preferably (a minimum of for SegWit2x supporters) after the fork, practically everybody must change to the brand-new variation of Bitcoin, leaving the old one to pass away. There’s constantly a possibility that some group will choose to update the tradition chain in a various method and push that variation as the “real” Bitcoin. If such a strategy acquires traction, miners will have 3 various “Bitcoins” to select from, which might trigger turmoil.

All of these forks are mainly focusing on one concern: The block size in Bitcoin’s blockchain. One block would be one page in the note pad if you believe of a blockchain as a huge note pad with records of all deals on the Bitcoin network. Presently, at 1MB, that obstruct is too little, and Bitcoin can just process a low variety of deals each day. Bitcoin Cash, SegWit, SegWit2x– all these are various propositions to resolve this issue.

Why exists a lot squabbling over exactly what appears to be an easy upgrade of the Bitcoin’s software application? It’s not that basic. Bitcoin has actually ended up being a big network, as well as the smallest modification in code can have baseless repercussions. Second, a great deal of individuals have a great deal of cash in Bitcoin, and they’re wanting to safeguard their interests. Third, Bitcoin Core– a group of designers that have actually directed Bitcoin’s advancement given that its creator, Satoshi Nakamoto, had actually vanished in 2010– has actually been incredibly unwilling to accept third-party propositions. As an outcome, they’re losing their impact over the network, and given that miners can pick which proposition to support, if the bulk begins to mine, state, Bitcoin Cash, the initial Bitcoin may end up being deserted.

On one hand, this is democracy at work. It’s excellent, in a manner, that Bitcoin can not be quickly changed; if it could, then it would not really be decentralized. Simply like in political democracy, the masses might be controlled to vote the incorrect method. Go to any Bitcoin-related online forum and you’ll see an enormous quantity of deceptiveness, half-truths, and great old muddying of the water, making it extremely hard to make a notified choice of any kind.

With Bitcoin’s rate and cryptocurrency buzz being near their all-time highs, things do not precisely look frightening for the future of crypto. Scratch a little bit underneath the surface area, and you’ll see that the power battle within Bitcoin, potentially the most significant in its history, is about to reach a climax quickly.

The author of this text want to thank Luka Zubovi for his corrections and ideas.

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/2017/08/23/bitcoin-power-struggle/