Bitcoins is probably not as complicated as you might think. Each Bitcoin is basically a computer file which is stored in a “digital wallet” app on a computer or smartphone. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain.
Who created Bitcoin?
Satoshi Nakamoto: This phenomenon has come to the world of finance in the person of Satoshi Nakamoto, the so-called father of Bitcoin. He appeared out of the ether in 2008 and disappeared just as abruptly three years later, after establishing the world’s first cryptocurrency.
Is Bitcoin really used by people?
Yes. There are a growing number of individuals and businesses using Bitcoin. This includes brick-and-mortar businesses like restaurants, apartments, and law firms, as well as popular online services such as Namecheap and Overstock.com. While Bitcoin remains a relatively new phenomenon, it is growing fast. As of July 2021, the total value of all existing bitcoins exceeded 735 billion US dollars, with millions of dollars worth of bitcoins exchanged daily.
If you’re searching for a quick profit, Bitcoin’s high liquidity can turn it into an excellent investment vehicle. For long-term investment, Bitcoin can be a viable option due to its strong market demand. Minimalistic trading – Investing in stocks demands the ownership of a certificate or license.
For this method we will be using a casino which has several different methods of making FREE money. To start, first register HERE
The name of this casino is Stake, and it has been around since 2016, entirely legitimate. I have been paid well over $5000 from it. Here is how you will earn money. First, signup. Second look around the site. There are many fun games, and if you play with real money there are many perks that make it profitable which we will go over.
Methods for gamblers with real crypto: Stake is very nice because it supports many coins, instant withdrawals, and many fun games. The house edge is 1%, but there are many features that make it easy to play with and win. For example, they give out coupons in their telegram channel. For example if you wager $1000 in a week (not difficult) you will have $10 daily or so.
VIP bonuses: Every time you reach a new wagering milestone you get a free bonus. One btc wagered = .002 bonus etc
Second free method: Chat rains In the stake chat there is consistent rain from winning users since theres always hundreds online, and drizzle every 15 minutes from the server. Participate in chat and youll get a lot of rain and drizzle.
As you can see, when youre online you get a lot of rain. You also get 13% of the house edge back on every bet, saved into the rakeback which you can claim at any time, win or loss. In these screenshots I will show how I have earned and withdrawn a lot from this site.
I have made a lot on this site, and for the .2 withdraw I only deposited .03. All withdrawals are instant.
You may think of staking as a less resource intensive alternative to mining. It involves holding funds in a crypto wallet to support the security and operations of a blockchain network. Simply put, staking is the act of locking your cryptocurrencies to receive rewards. In most cases you’ll be able to stake your coins directly from your cryptocurrency wallet, such as Trust Wallet. On the other hand, many exchanges offer staking services to their users. Binance lets you earn rewards in an very simple way. All you have to do is hold your coins on the exchange. To get a better grasp of what cryptocurrency staking is, you’ll first need to understand how Proof-of-Stake (PoS) works. PoS is a consensus mechanism that allows blockchains to operate more energy-efficiently while maintaining a decent degree of decentralization (at least in theory).
How does crypto staking work?
Proof of Stake chains produce and validate new blocks through the process of staking. Staking involves validators who lock up their coins so they can be randomly selected by the protocol at specific intervals to create a new block. Participants that stake larger amounts have a higher chance of being chosen as the next block validator. This allows for blocks to be produced without relying on mining hardware like ASICs. While ASIC mining requires a significant investment in the hardware, staking requires a direct investment in the cryptocurrency itself. Instead of competing for the next block with other hardware mining rigs, PoS validators are selected based on the number of coins they are staking. The “stake” (the amount of coins) is what incentivizes validators to maintain network security. If they fail to do that, their entire stake might be at risk.
How are staking rewards calculated?
There is no short answer here. Each blockchain network may use a different way of calculating the staking rewards.
Some are adjusted on a block by block basis, taking into account many different factors. These can include:
how many coins the validator is staking
how long the validator has been actively staking for
total amount of coins staked on the network
the inflation rate
other factors
For some other networks, staking rewards are determined as a fixed percentage. These rewards are distributed to validators as a sort of compensation for inflation. Inflation encourages users to spend their coins instead of holding them, which may increase their usage as cryptocurrency. But with this model, validators can calculate exactly what staking reward they can expect.A predictable reward schedule rather than a probabilistic chance of receiving a block reward may look favorable to some. And since this is public information, it might incentivize more participants to get involved in staking.
How to stake on Binance?
Staking on the Binance exchange is very straightforward:
Binance. Head over to the Binance homepage and create a Binance account.
Deposit. Deposit the cryptocurrency you wanna stake into the Binance wallet or purchase BNB tokens via fiat or crypto exchange. (You should check that Binance offers staking for that specific coin first)
Binance Earn. Navigate to the Binance Earn page. This can be accessed via the dropdown menu: Finance > Binance Earn.
Search For The Coin. Search for the coin in the coin search box (i will be using Cardano (ADA) as an example).
Product selection. Look for the “Staking” product in the available list and click “Stake” at the end of the row.
Locking period. Choose your locking period (14, 30, 60 or 90 days) and the amount you would like to stake. The minimum and maximum amount of coins you can stake is different for each coin.
Confirm. Once you have accepted the staking agreement, you will then need to confirm your transaction. That’s it! You will now start passively earning Binance Coin rewards. At the time of writing, the estimated annual percentage yield (APY) for ADA is 7.79%, but this changes on a daily basis.
Staked coins can be withdrawn or traded at any time by clicking “Redeem earlier” after navigating to your staked orders. This can be accessed via Wallet > Earn. (IMPORTANT: This will make you lose all the staking rewards gained from that locked staking. Example: So let’s say i staked 1000 ADA and did it for 10 days and earned 5 ADA, but then i really needed those 1000 ADA i had on locked staking for 60 days, so i decided to “redeem eariler”. That would have given me the 1000 ADA back and not 1005 ADA.
How much can I earn from staking Binance coin on Binance?
The amount of interest users receive on staking Binance Coin (BNB) depends on a number of factors:
The amount of BNB staked by a validator
The supply and demand of BNB staked on a network (if there is less supply, the rewards will be raised to incentivise extra staking)
Length of locking period
Number of BNB tokens delegated
Commission fees charged by a validator
Delegators that stake Binance Coin (BNB) can expect to earn approximately 9-11% APY (excluding commission and gas fees) based on Binance’s Fixed Staking option. In comparison, returns from yield farming can vary wildly, ranging from less than 1% to over 100%. Remember though that all these returns are variable, and yield farming is especially volatile and carries additional risks.
Real world earnings will ultimately depend on the market value of the BNB token. If the price of Binance Coin (BNB) rises, rewards will increase proportionally. If the price of Binance Coin drops, it could eat into profits.
The Bitcoin price goes up after rumors that Amazon will use the cryptocurrency as a means of payment.
BEZOS COIN?: The insider also hinted that Amazon was exploring the possibility of developing its own currency for use on the website.
Unconfirmed rumors that Amazon will use Bitcoin as a payment method for its products have given the cryptocurrency a boost after the recent price drop.
Over the weekend, the company announced a position in digital currency and blockchain technology, which made it buzz on the reputation exchange.
On Monday, the London newspaper City A.M. about information from an insider source, who could tell that the online store giant plans to accept Bitcoin as a means of payment by 2021. In addition, Amazon is investigating the possibilities of developing its own local currency for use in the online store by 2022, according to the source.
The news comes after a long period of falling for the cryptocurrency.
The Bitcoin exchange rate has fallen sharply since its all-time high in March, largely due to China’s crackdown on cryptocurrencies. Among other things, the authorities decided to close down several large data centers that engage in so-called “mining”, a process that has been widely criticized due to its extensive energy consumption.
By mid-July, the Bitcoin exchange rate had halved from a record high of over $63,000 in March to less than $30,000. In comparison, Bitcoin is trading at $38,540 on Monday morning, up 12 percent for the day.
News twists the momentum
Both Bitcoin and other cryptocurrencies have proven to be very volatile, and have historically reacted strongly to news, as well as things like Twitter messages and statements from celebrities like Elon Musk. Among other things, the Bitcoin price fell sharply in May, after Musk declared that it would no longer be possible to pay for Tesla in Bitcoin for environmental reasons.
Cornell professor Eswar Prasad has also stated that he believes “the Bitcoin exchange rate is more sensitive to Twitter messages from celebrities than it is to inflation”.
The increased focus on Bitcoin’s environmental impact, as well as general criticism of the currency and its fundamental value, has marked the market’s cryptocurrency sentiment in recent months.
– The need for catalysts such as a couple of big news is important to get the momentum twisted now. Currently, there is a lot of bad news from China that is dragging the course down, despite the fact that the effect of the measures has already taken place in the market. A big news à la bitcoin purchase from Tesla in February would be positive, said analyst Vetle Lunde in Arcane Crypto earlier in July.
If Amazon confirms the rumors, it may be just the catalyst needed to reverse the negative trend.
Based on the historical price action, Cardano has been a decent investment. Cardano has received a ton of hype so far in 2021, and many fans hail it as the Ethereum killer. Does Cardano have a shot at stealing Ethereum’s market share? And should it be in your crypto portfolio? Let’s take a look!
Cardano:
Background:
Cardano(ADA) is a blockchain project with over 75% of the total currency, staked for network validation. Part of the reason that so much Cardano(ADA) is staked is due to the cryptocurrency’s lack of smart contracts. While Ethereum has around 6% of its total supply locked as validators, much more ETH is locked in DeFi applications.
The Cardano project began in 2015 in an attempt to solve some of the problems that Ethereum faced from its Proof-of-Work consensus model. Cardano was officially founded by Charles Hoskinson, who is a former co-founder of Ethereum.
Some of Cardano’s key improvements are proof of stake consensus, multiple processing layers for settlements and computations and the ability to upgrade its network easily in the future.
The Cardano settlement layer launched in 2017 and raised around $64 million through the Cardano(ADA) ICO. The settlement layer excludes smart contracts, so at this time Cardano could only be used for settling peer-to-peer payments. Since then the ever-growing team of cardano developers has been hard at work preparing for the launch of smart contracts on the Cardano Computation Layer.
Cardano Development:
Cardano currently has between 110 and 160 developers actively working on the project and pushes out around 750 commits per week. These factors make the cryptocurrency the most actively-developed projects in the blockchain space today, suggesting that they will be able to deliver on their development roadmap.
This level of developers places Cardano among the most likely projects to steal market share from one of the top cryptocurrency’s Ethereum. However, it’s still not close to the size and pace achieved by Ethereum.
Cardano(ADA) Smart Contracts:
Cardano(ADA) plans to add support for smart contracts in the 3rd-stage of its development roadmap, known as Goguen. With smart contracts being developed on other blockchains like the Binance Smart Chain and Ethereum, Cardano has some catching up to do. One of the most common critiques of Cardano is its non-existent DeFi eco-system. The project will need to deploy smart contracts in order to support decentralized finance applications, as smart contracts are the backbone of DeFi.
Cardano smart contracts will run on the Cardano computation layer, which will support legacy Solidity contracts as well as its own language, Plutus.
ADA Partnerships:
Cardano has already inked some notable partnerships with governments, universities and businesses including Ethiopia, The University of Illinois and New Balance. Hoskinson (The CEO of Cardano) has pushed hard to see Cardano’s potential to come to fruition in Africa, where he believes blockchain can make a huge impact. This is in part due to a large proportion of Africa’s population being unbanked.
New Balance also has plans to use Cardano’s network to track the authenticity of its shoes.
Where to Buy Cardano
Cardano is available almost anywhere you can buy crypto. You can pick it up on Binance, FTX and even Coinbase as of June 2021.
Stake Your Cardano
Cardano is a proof of stake network, so you can become a valitor by staking you Cardano(ADA) coins. Staking earns you the network fees for all of the transactions that you validate. This is a great way to support the decentralized community and earn easy passive income in Cardano(ADA)! So you basically get free passive ADA by staking the coins.
Is Cardano a Good Investment?
Cardano(ADA) is without a doubt currently one of the more promising applications in the blockchain space today, with a lot of momentum behind the project and strong fundamentals.
While touted by many as the Ethereum killer, this is extremely unlikely. In our opinion, Cardano(ADA) will carve out its own niche within the blockchain ecosystem, but we dont think it is going to flip Ethereum. If you are bullish on crypto and blockchain in general, then it makes a lot of sense to have Cardano in your portfolio. If you own Ethereum, then Cardano is a great hedge that will more than likely result in a net increase in gains. It’s truly a win-win.
Remember, this is just our opinion and not financial advice. Crypto investments are very risky and you should not invest any money you can’t afford to lose. Crypto is extremely volatile, but I’m guessing that’s the reason you’re here to begin with.
Binance is the world’s leading cryptocurrency exchange and was started by Changpeng Zhao (CZ) in China 2017, but then moved their headquarters to the crypto friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services.
Why use binance crypto exchange?
Binance has a large selection of different cryptocurrencies (100) +
Very user friendly. This makes it easy for someone who is completely new to crypto to get started.
It has very low fees compared to the other crypto exchanges.
Binance allows you to buy, sell, and trade cryptocurrency, charging only 0.1% on trades. You have the option to earn interest on your coins by staking them for a while and earning an interest rate of between 0.5-10%.
You can purchase crypto by using bank deposits, bank transfers, and credit/debit cards, so there are a lot of payment methods to choose from. However, a heavy 4,5% fee is charged on debit card purchases, so watch out for that.
For security measures, Binance has an asset fund as insurance in case user funds are stolen and a 2-Factor Authentication system (2FA).
Nonetheless, there are 100+ coins available on Binance, so you’ve got a ton of options if you’re looking to trade Bitcoin, Ethereum, and many many other coins.
Coinbase was launched in San Francisco, California in 2012. Coinbase has accrued over 30 million users worldwide, with users cutting across 103 countries.
coinbase cryptocurrency exchange mostly caters to in-experienced investors looking to trade cryptocurrency, so this is perfect for you if you’re a beginner who’s looking to learn the ropes without being overwhelmed by graphs and data all over the screen.
Why use Coinbase cryptocurrency exchange?
Coinbase is an app that lets you buy and sell all sorts of cryptocurrencies, like bitcoin, ethereum, litecoin and about 50+ others.
You can also use Coinbase to convert one cryptocurrency to another, or to receive and send cryptocurrency to and from other people.
Like stock trading apps you may already be familiar with, Coinbase shows you the current price and trends for cryptocurrencies, a look at your portfolio of holdings and news stories about the industry.
Coinbase allows bank deposits, PayPal, bank transfers and credit/debit card transfer payments. However, the exchange has pretty expensive fees at $0,1-$3 for purchases under $200 and an additional 0,5% fee depending on the amount traded.
On matters of security, Coinbase has FDIC insurance that allows users to be fairly compensated if the company ceases to exist, and cold storage is used to set aside 98% of user funds, so theoretically only 2% of your money could ever be stolen at any time.
FTX is a cryptocurrency derivatives exchange that quickly established itself in an ever-expanding segment of the crypto trading market.
Ftx exchange launched in May 2019, and provides its users with access to a range of innovative trading products including Bitcoin options, over 45 leveraged tokens, 20 perpetual swaps, MOVE contracts, and prediction markets.
FTX was founded in 2018 by Sam Bankman-Fried who was once a trader on Jane Street Capital’s international ETF desk, and current CTO Gary Wang, who is a former Google software engineer.
Why use FTX cryptocurrency exchange?
Fiat Currency Transfers – Users can make transfers in currencies such as USD, CAD, EUR, GBP, and AUD. The exchange also accepts credit card deposits.
Up to 101x leverage – FTX provides generous leverage which allows traders to maximise their profit potential.
Easy Conversions/Stablecoin Settlements – Users can easily convert currencies within their accounts and trade all derivatives with one margin wallet.
Institutional Grade Services – FTX incorporates top class features such as deep liquidity and orderbooks, unlimited withdrawals, a liquidation fund, and an OTC desk.
Extensive Customer Support – FTX provides a wide range of features and resources aimed at helping its account holders to navigate the platform and also provides chat groups in over 10 languages.
When using FTX there are no deposit or withdrawal fees, and there are also no fees on futures settlements. OTC trading or trading from within your wallet is also fee free as all costs are built into the price you are quoted.
FTX Security
Due to having only been in operation since 2019, the exchange has managed to avoid any significant hacks and malicious attacks. However, the team don’t give much away with regards to their security protocols and we have to assume that they make use of all the established security best practices.
We do know that the FTX team make use of full SSL encryption on their website, and incorporate two-factor authentication (2FA) to help users secure their accounts by using Authy, Google Authenticator, or SMS verification.
The world of cryptocurrencies is dominated by Bitcoin (BTC) and Ethereum (ETH). But what lies outside of the Big 2? Now you’re entering the territory of alternative cryptocurrencies also called Altcoins. These can be roughly grouped into 3 types:
stablecoins, like Tether (USDT) and USD Coin (USDC)
memecoins, like Dogecoin (DOGE) and SHIBA INU (SHIB)
utility coins, such as Binance Coin (BNB) and FTX token (FTX)
Of the 6 cryptos listed above, The Binance Coin (BNB) has the highest value. But what makes it so valuable? In this article, we dig deep into the history of Binance Coin (BNB) — what it’s all about, why it exists, and its historical value.
Binance Coin (BNB) price chart since its startin 2017
Unlike Ethereum and Bitcoin, both of which have seen peaks and valleys of sorts since their inception, Binance Coin (BNB) has been relatively stable. To put things into context, Binance Coin (BNB)’s price hovered around $20 for much of its lifetime until the cryptocurrency boom that happened in early March 2021.
Binance Coin (BNB) value peaked on 10 May 2021, at an all time high of around $915. Coincidentally, Bitcoin (BTC) value was around $63.000, and Ethereum (ETH) value was around $3.200 on the same day.
Binance press officials still aren’t sure exactly why Binance Coin (BNB) mooned so much in that time frame, but it’s widely believed that Binance’s business moves, architectural changes to its blockchain network, and its competitor, Coinbase, doing a direct listing onto the stock market made Binance Coin (BNB) value skyrocket.
Today the Binance Coin (BNB) value, along with Bitcoin (BTC) and Ethereum (ETH) has dropped significantly since their peak.
What is the Binance Coin (BNB)?
what is Binance Coin, really? Of all the altcoins out there, why is BNB so valuable?
Binance Coin (BNB) initially started out as a way to get trading fee discounts on the popular Binance crypto exchange.
If you were to trade cryptocurrencies on the Binance Cryptocurrency Exchange, you’d be charged a 0,1% trading fee. However, by using the Binance Coin (BNB) to pay for the trading fees, you would receive a 25% discount, as the screenshot below shows:
What else is the Binance Coin (BNB) used for?
Apart from getting a 25% trading fee discount on Binance, Binance Coin (BNB) can now be used to:
Get a trading fee discount on the Binance DEX (Decentralised Exchange)
Pay for transaction fees on the Binance Chain
Pay for transaction fees on the Binance Smart Chain
Pay for goods and services for both online and in-store purchases (e.g., using Binance Card or Binance Pay)
Pay for hotel and/or flight bookings and more at Travala.com
Usage as a community utility token on the Binance Smart Chain ecosystem (such as games and DApps)
Participate in token sales hosted on the Binance Launchpad
Donate on Binance Charity
Provide liquidity on Binance Liquid Swap
For most of us, The most applicable uses for the Binance Coin (BNB) would be to get trading fee discounts on the Binance Cryptocurrency Exchange.
How does the Binance Coin (BNB) retain its value?
Binance Coin (BNB) has a hold on its value by using a supply cap of 170,5 million coins (There are currently 153,432,897 BNB Coins in circulation). Binance has also implemented a Quarterly Burn system to keep Binance Coin (BNB) scarce and its transaction fees relatively stable as compared to Ethereum’s ever-rising transaction fees.
Binance plans to burn a total of 100 million Binance Coins (BNB) — to date, 33 million Binance Coins (BNB) have been burnt.
Should you buy the Binance Coin as an investment?
With a market cap of over $50.01B and various benefits, investing in BNB in 2021 is definitely worth it. Let’s not forget that BNB is one of the top utility tokens and has a wide range of advantages over other digital coins.
How Can I Invest in BNB?
If you decide to invest in BNB, finding a place to buy Binance Coin is easy.
There are different ways to invest in BNB either in the short or long-term, with cryptocurrency exchange platforms like Binance being the safest places to invest in crypto.
Binance The World’s Leading Cryptocurrency Exchange Review
Thinking of using Binance Cryptocurrency Exchange? Here’s our review for everything you need to know about Binance.
the digital currency exchange market is currently filled with a wide variety of choices, therefore choosing the right trading platform or crypto exchange can be quite a headache for both the novice and veteran cryptocurrency users.
Binance is the world’s leading cryptocurrency exchange and was started in China in 2017 but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services.
In our review, we will attempt to outline everything that you need know about Binance, including how it works, trading fees,security aspects,crypto pairs and customer support.
How Binance Crypto Exchange Works
Those who visit Binance for the first time will quickly notice that the platform offers two options: basic mode called lite mode and advanced mode called pro mode.
Lite mode is better for:
Crypto novices
Users looking for an easy way to buy and sell crypto
Infrequent traders and hodlers
First-time Binance users
Professional mode is better for:
Active traders
Experienced crypto users
Users looking to grow their existing crypto assets using Binance’s full ecosystem
Existing Binance users
The main difference between the basic and the advanced version is that the advanced one offers more-in-depth technical analysis of digital currency value over time.
Binance Fees & Limits
At the time of writing, Binance charges an average fee of 0,1% on each trade that a user makes. Those who choose to pay via the Binance token(BNB) can get a 50% discount on the trading fee, which is absolutely great news. These are surely some of the lowest fees of any crypto exchange.
Is Binance Safe To Use?
While Binance is one of the newest cryptocurrency exchanges available on the market, it has quickly managed to attain a high level of trust from its users and the digital currency community.
However, the exchange fails to provide users with enough information on how the funds are being secured, yet we like to believe that security is taken seriously. Two-factor authentication is available and is always a nice sight. It is however known that the platform offers a multi-tier and multi-tier system architecture.
In March 2018 Binance suffered a hacking attempt
The hackers tried to pull off an audacious move which was luckily caught by the automated security systems in place at the exchange. For months the hackers had been accumulating people’s logins via a phishing website and secretly installing API access on the affected accounts.
They then struck, converting all the victims altcoins into BTC to purchase Viacoin, pumping the coin to a huge price and then selling their own supply of Viacoin at the high point, before trying to withdraw the BTC to their own crypto wallets. Luckily no one lost funds as the hack was caught fast and the only people to lose out were the hackers, whose funds was donated to charity.
This hack has done a lot to instill confidence around Binance. Not only did their automated security systems catch the attempted hack before anyone lost any funds. They have since offered a $250.000 bounty to anyone who can help catch the hackers. Throughout this hack, Binance acted exemplary and have been praised for their swift action in resolving this.
Binance Customer Support
For an cryptocurrency exchange to be successful, it requires a decent customer support team, capable of answering all user requests and questions in a timely manner. While the support area on Binance could use a little bit of work, the team is responsive and capable of offering professional aid to traders in need. Support tickets are submitted via an online form featured on the website, and responses are made via e-mail. There is currently no live chat support, nor a phone number where customers can get in touch with the support team over the phone.
Other than the Customer Support team, Binance offers a couple of FAQs and articles.
Conclusion
Currently, the matching engine of the exchange is capable of processing approximately 1,5 million orders each second. Making it one of the fastest exchanges available on the market.
Additionally, the exchange works on all forms of devices, including android,web and HTML5. Non English speakers will be happy to know that Binance offers live customer support in eight languages, with 24/7 support available for six languages.
Based on everything that has been outlined so far, Binance is undoubtedly the leading Cryptocurrency Exchange and offers awesome digital currency support and decent fees.
As it reportedly has access to abundant resources and partners, chances are that Binance will continue to grow and offer great digital currency exchange services to its clients.
Their CEO Changpeng Zhao (CZ) has been part of the cryptocurrency community and shown high standards of integrity.
Binance has continued to innovate, bringing new products to the market and new options for purchasing and trading cryptocurrencies to all corners of the globe.
A Romanian cryptobull has passed away after a drowning accident. Now his entire bitcoin holdings may be lost forever.
DEAD: Mircea Popescu, Romanian cryptobull, died while swimming in June 2021.
Mircea Popescu, a controversial figure in the crypto world, has boasted unabashedly of his bitcoin holdings, which may be one of the world’s largest.
Now the entire bitcoin fortune may be lost forever after he tragically passed away last month. Popescu is said to have died in a drowning accident off the coast of Costa Rica.
“He was pulled out of the stream and died on the spot after a swim in the morning at Playa Hermosa de Garabito in Puntarenas,” local news media reported.
The New York Post has quoted sources from Twitter as saying that the death of the Romanian crypto-entrepreneur was confirmed by three women who knew him.
Popescu was seen as a pioneer in cryptocurrency and was one of the very first to believe in the value of digital gold.
Huge sums – enormous uncertainty
Some estimate that Popescu’s bitcoin holdings were 30,000 digital coins, but he has claimed that he owned far more than that.
If it is true that Popescu owned bitcoin of that magnitude, the cryptocurrency was worth close to 2 billion dollars – 17 billion kroner – at the top in April. At the current bitcoin exchange rate, the holdings are worth around 1 billion dollars.
What is uncertain is how the Romanian crypto guru stored his crypto.
– “Access to Popescu’s wallet will only be available through his private keys, regardless of whether he stored them digitally or in a cold wallet such as a physical bitcoin wallet,” said Steve Ehrlich, CEO of Voyager Digital.
Tweet after Mircea Popescu, bitcoinbull, died
Rumor has it that only Popescu himself had the key and that no one else had access to the digital wallet. If so, it means his bitcoin fortune is lost on the blockchain forever.
It may be frustrating that such great values have disappeared, but Anthony Pompliano, co-founder and partner at Morgan Creek Digital Assets, posted a later deleted Twitter message reminding that everyone else’s bitcoin will be a little more valuable as the ceiling on how many bitcoins one can “dig out” is 21 million.
SkyBridge Capital’s chief investment officer has greater faith in bitcoin returns than gold.
BITCOINBULL: Troy Gayeski, investment director and portfolio manager at SkyBridge Capital, sees a bigger upside in bitcoin than gold.
Gold will rise to new heights next year, but investors who want alternatives should examine bitcoin, according to SkyBridge Capital, a hedge fund that manages NOK 62 billion.
Troy Gayeski, investment director and portfolio manager at SkyBridge, sees that both gold and bitcoin will rise as the Federal Reserve curtails its support purchases in the stock market.
– We will stick to bitcoin and crypto simply because we think there is a bigger upside. There is greater volatility, but you will get more returns than in gold precisely because of that, Gayeski says in an interview with Bloomberg.
SkyBridge’s exposure to bitcoin is still up around 50 percent since the hedge fund entered the cryptocurrency in late December, even after the marked fall we have witnessed a month ago.
– The alternatives to fiat currency have all undergone relatively recent corrections, but are in a much better place to cope with the reduction of support purchases now than when they went to record after record, Gayeski says.
Citigroup believes “gold has lost its luster” for cryptocurrency, while Goldman Sachs believes both can exist at the same time. Elon Musk supports crypto rather than fiat money.
– There is a good chance that gold will continue the positive trend and go to a new peak in the coming year, the SkyBridge manager believes.
Markets are getting better and better and we are seeing signs of improvement, but the Fed continues to make $ 120 billion a month in support purchases. Talks to reduce this support are steadily approaching, which will drive both the dollar and the US government interest rate higher, which will make gold less attractive.
CryptoNews 