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Bitcoin News

Elon Musk Mentions Bitcoin In A New Mysterious Tweet



Elon Musk is in the latest Bitcoin news this week, this time for teasing the public with a new and quite mysterious tweet about Bitcoin that is currently whipping up a lot of speculation among analysts and the entire crypto community.

Musk, who is the founder of SpaceX and Tesla and one of the most popular Twitter users, published a tweet that reads: “I love anime.”

In the same thread, however, he made another comment, stating “Wanna buy some Bitcoin?” alongside an anime image that features the Bitcoin logo.

The image was created by the website Cryptocurrency Girls which is known for transforming cryptocurrencies in anime-like characters.

Some people thought that Musk’s account was hacked. Apparently, Twitter thought of that too and locked his account, a decision on which Musk ironically tweeted:

Responding to Musk’s tweet, the founder of Binance, Changpeng Zhao, also commented in a half-joking retweet stating “Lol, it’s spreading. I will buy a Tesla if you accept crypto…”

Even though Musk’s tweet is most likely to be based on jokes and having fun, it is more than obvious that Bitcoin is getting more traction among high-profile investors and some of the most successful CEOs nowadays.



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Altcoin News

A New $4 Billion Drop Sees Bitcoin Cash – And The Entire Market – Falling

Over the last 24 hours, we saw another drop as monitored on our DC Forecasts crypto news site. The prices of Bitcoin as well as many altcoins combined lost $4 billion in total, reducing the total market cap once again to a number of $181 billion. After what seemed like one of the worst single-day corrections that occurred last Thursday (November 15th) and where the crypto market saw a wipeout of more than $27 billion, the drop is extending. Bitcoin Cash is one of the main sufferers here. Even though the fourth largest altcoin forked into two new cryptocurrencies named Bitcoin Cash SV (BCHSV) and Bitcoin Cash ABC (BCHABC), it managed to fall by more than 7%. Before the fall, Bitcoin Cash managed to drop by more than 15% to $250. Currently, analysts are asking if the $4,800 margin is the real bottom for Bitcoin - or it will increase in the coming days. While both major cryptocurrencies and small tokens started to demonstrate independent price movements by breaking their correlation with BTC, a new 12% drop could result in intensified downward movements for cryptocurrencies with lower daily volumes. All in all, the sentiment around cryptocurrencies has been negative this week mostly because of the sheer intensity of the crash of the market in the past few days.
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Bitcoin News

Financial Analyst Gary Shilling: Bitcoin Is Some Kind Of A Grand Ponzi Scheme

Gary Shilling, the popular crypto skeptic and an owner of the New Jersey investment firm A. Gary Shilling $ Co. is in today’s crypto news for shorting bitcoin and claiming that it is some kind of a Ponzi scheme. He says that he is confused by the nature of the entire crypto industry and believes that it’s a scam since the identity of the inventor of Bitcoin- Satoshi Nakamoto is still unknown. Shilling is also skeptical that there could possibly be a fixed supply of bitcoin by saying:
 “There’s supposedly a limit on there, but where is it written in stone that can’t increase? And of course, the electricity that’s churned out by the miners trying to solve these algorithms is just extraordinary.”
He dismissed bitcoin by calling it a black box which is a very complex investment model. Also, Shilling noted that he is very suspicious of many things that are clearly not transparent and said that it is not the best idea to invest in something if you don’t understand it. There are plenty of reasons why bitcoin fails as a currency such as not being a store of value, it’s also not a medium of exchange and it is still not accepted universally.
 “All the requirements that you normally have for a currency, it just doesn’t have. The only legitimate use I can think of in bitcoin is off-the-books kinds of transactions, underworld transactions. I just don’t see a legitimate use. It is a game,’’ said Shilling.
However, the younger generation of tech millionaires is extremely confident that bitcoin will eventually manage to toss aside all other currencies. Some of them even predict bitcoin to reach a price of $250,000.
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Altcoin News

‘Time May Be Right’ For Home Crypto Mining: Coinbase CTO

The CTO of Coinbase, Balaji Srinivasan is in a headline on our DC Forecasts crypto news site - mainly because of his recent statement geared towards crypto mining and popularizing at-home crypto mining. In fact Srinivasan decided to back a startup that aims to popularize this form of crypto mining and a business which is called Coinmine. Its service announced pre-orders for the first home miner on Wednesday. As Srinivasan said in the announcement:
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine.”
This is a notable perspective mostly because Srinivasan previously founded which was a startup that emerged from stealth in 2015 and had an ambitious plan to embed Bitcoin miners in everyday devices- which was then backed by Coinbase Ventures. Following the Coinmine announcement, Srinivasan wrote:
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine."
As we can see from the above stated, the CTO of Coinbase seems optimistic about Coinmine's ability to add even more coins later, foreseeing a future where the company could play a key role in the launch of new tokens.
“I believe that decentralized mining is an important idea and worth trying again. It’s mining as Satoshi intended: many devices around the world with no single point of failure." Srinivasan concluded.
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Altcoin News

Crypto Exchange OKCoin Expands To Latin America, Launching A Fiat Market

The popular cryptocurrency exchange OKCoin is in the crypto news again, this time for its new launch in the Latin American market. A press release has confirmed this move by the exchange, and also confirmed that there will be a new platform launch which will let users trade Bitcoin and other top altcoins against local fiat currencies. As the release notes, OKCoin's expansion to Latin America comes after it became a fully licensed platform for operating in the region. At start, OKCoin will allow users in Argentina to deposit Argentine pesos (ARS) to the platform, which can be traded with top cryptos such as Bitcoin, Bitcoin Cash, Ethereum, Cardano, Stellar, Zcash and 0x. According to the document, OKCoin will also be opening an office in Buenos Aires and setting up a team to "support the business throughout Latin America." As one of the largest cryptocurrency exchanges in China before the region's trading ban, OKCoin has been expanding at a rapid pace (outside China, of course). In January, the exchange launched a platform in South Korea and entered the United States with fiat-to-crypto offerings in July 2018. Currently, OKCoin supports USD trading and is present in over 110 countries. As the CEO of OKCoin USA Tim Buyn believes, this is just the beginning of the expansion.
"We’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence,” Buyn said following the official announcement.
He also pointed that the Latin American market is extremely important for the exchange as it is for many crypto and blockchain industries.
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