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submitted by /u/mccormack555 [link] [comments] |
Tuesday, 7 June 2022
New York AG Warns About Crypto Investments as Mining Moratorium May Come to New York
Letitia James, the New York Attorney General, has made several statements towards cryptocurrency investment on Friday, June 3. The AG released a statement commenting on the volatility of crypto assets and warned investors of the high-risk nature of investing in crypto, as seen in the crash of the UST stablecoin in May. James also highlighted that billions have been lost in crypto in 2022.
New York is also focusing on banning proof-of-work crypto mining. The ban of cryptocurrency mining in one of the largest states in the United States could see many currencies crash even further. ...
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Venture Capitalist Tim Draper Explains Why Bitcoin Will Soar Past His $250K Estimate. Could Bitcoin Actually be Worth Half a Million In Coming Years?
Tim Draper, a venture capitalist, has reiterated his $250K bitcoin price prediction. Draper was asked if he still believes the price of bitcoin will hit $250K this year in a recent interview with Scott Melker, dubbed the Wolf of Wall Street. He responded, "
Yes, by the end of this year or the beginning of next.
Draper went on to explain why he thinks BTC would outperform his projection. "One thing that will almost certainly happen — and I don't know when — is that women will begin to use bitcoin," he said.
Previously, only one out of every 14 bitcoin holders was a woman, according to the venture capitalist. "It's around one in six right now, and I think it'll even out soon," he said. According to a March survey by crypto financial services provider Blockfi, roughly one-third of American women expect to buy cryptocurrencies in 2022. Furthermore, 60% of those surveyed said they want to do so within the next three months.
"Women control around 80% of retail spending, and merchants haven't yet discovered that they can save 2%, and they normally run on razor-thin margins, so that might be like doubling their earnings," Draper explained. They can save 2% simply by accepting bitcoin instead of a credit card issued by a bank. And that has the potential to affect everything."
News Source: https://news.bitcoin.com/venture-capitalist-tim-draper-explains-why-bitcoin-will-soar-past-his-250k-estimate/
In my opinion Bitcoin has over the years proven to be a great store of value increasing exponentially in value since creation. I think it is quite possible for Bitcoin to reach $250,000 has the cryptocurrency increases in adoption so should it's value rise and eventually staize
Bitcoin paved the way for a thriving crypto ecosystem which embodied by the growth and success of crypto exchange platforms such as Binance and kraken, Uniswalp and growing popularity of crypto commerce platforms such as Exeno that facilitates the use of crypto to purchase goods without needing to first convert funds to fiat. Thus creating a some what self sustainable market itself ( Bitcoin) and it's alternatives.
Counties El Salvador and Central African republic adopting Bitcoin as legal tender also with the increased use of crypto for humanitarian causes such as what happened in Nigerian where youths all over the country raised funds by donating Bitcoin to protest against police brutality and the #CryptoForPeace is an initiative of BIC with the global goal of positioning cryptocurrency as a peace-oriented one, promoting and facilitating crypto-related donations to support individuals all over the world that may have lost their homes due to conflicts, wars, or intergovernmental disagreements. Bitcoin is only going to be an essential part of our future has it giving a means of survival to the oppressed and disadvantaged which makes it an invaluable tool in the fight against financial oppression. Growth in Bitcoin use only increases it's capability to surpass valuation at a quarter of a million Dollars.
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source https://www.reddit.com/r/btc/comments/v6aa5s/venture_capitalist_tim_draper_explains_why/
Monday, 6 June 2022
Is this a good time to buy?
Looking back last 5 year chart and sub $200 seems good? Or you guys think we going lower?
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source https://www.reddit.com/r/btc/comments/v5le6n/is_this_a_good_time_to_buy/
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