LUMMIS: So the concept of mining bitcoin and its great store of value was something that resonated with me, coming from a mining state.
With the growing popularity of cryptocurrencies, a variety of digital currencies have emerged on the cyrpto investment scene. It is important to distinguish between three major categories in the crypto world and understand each one of them.
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The monetary authority again reiterated its strong views against cryptocurrencies saying they pose serious threats to the ... Has cryptocurrency become too 'mainstream' in India to be banned?
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In this eventuality, BTC could drop toward the 100 or 200 four-hour moving average. These demand zones sit at $59,000 and $52,000 respectively.
Cryptocurrencies’ finite supply makes them inherently deflationary, more akin to gold and other precious metals — of which there are finite supplies — than fiat currencies that central banks can, in theory, produce unlimited supplies of.
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You can't ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls
Satoshi Nakamoto. A pseudonym for an individual or group that introduced Bitcoin in late 2008 in a white paper published via a mailing list for cryptography. To facilitate transactions, bitcoins can be divided into miniscule units. For example, there are units as tiny as a millionth of bitcoin, or even a hundred-millionth of a bitcoin, which is called a satoshi.
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The recent trading frenzy over a digital token called Shiba Inu — commonly billed as a “meme” or joke coin — has vaulted the canine-themed cryptocurrency into the top ten most valuable digital assets by market value, hitting $40 billion and surpassing its cousin and apparent inspiration, Dogecoin.
The cryptocurrency market woke up to a shock in early trading on Thursday morning. On the Binance US cryptocurrency exchange, the value of Bitcoin (BTC) plummeted nearly 87 percent in value, settling around $8,200. The issue that caused the value spike was reportedly corrected swiftly and the Bitcoin value returned to its normal levels within a couple of minutes.
The market for cryptocurrencies has roughly quadrupled from its 2020 year-end value [File: Paul Yeung/Bloomberg]
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Safemoon investing will be made much more accessible if this happens, leading to more accurate price data. Time will tell whether this happens, but keep an eye out in the months ahead.