Autor Cointelegraph By Joseph Hall

Youtuber NasDaily’s Bitcoin buy is $200K underwater: 'Be greedy and HODL'

Youtuber NasDaily’s Bitcoin buy is $200K underwater: 'Be greedy and HODL'

Uverejnil používateľ | máj 30, 2022 |

Youtuber NasDaily endured a Bitcoin (BTC) baptism by fire. The entrepreneur and influencer with over 50 million followers invested $500,000 in Bitcoin —right before the bear market kicked in. Cointelegraph spoke to NasDaily (whose real name is Nuseir Yassin) during the World Economic Forum (WEF) in Davos, Switzerland. Yassin told Cointelegraph that the half a million dollars he saved in Bitcoin is now worth $300,000, adding with a smile that “it’s a great test of conviction.” Despite the paper loss, he’s more convinced than ever that crypto is the future:“Even if it goes down to zero, I think I do believe there needs to be a way to capture value on the Internet. And I’m taking a bet that Bitcoin is a once in a generation thing.”Yassin smash bought over 10 BTC ($500,000) at the tail end of March when the price was around $40,000. Gripped by the “revolution that’s happening in the world,” Yassin bought Bitcoin at the same time his Youtube content took on a crypto focus. A NasDaily thumbnail from a March 2022 video. Source: YoutubeIndeed, Yassin told Cointelegraph that while his motivation is sharing stories that matter with his audience, “We must talk about it [crypto].” “Crypto opened up my mind into the problems that exist today and how we can collectively fix them tomorrow. That’s why I’m excited–and therefore I should try to educate my audience about it as well.”Yassin jokes that the digital currency revolution is so important that he had to “force crypto down the throat of anybody that follows NasDaily,” as he educates his audience with daily videos. Unphased by the $200,000 paper loss in his Bitcoin investment, Yassin is buying more, adding another 3 BTC to his stack in the days prior to the WEF. In the below tweet, Yassin receives a Cointelegraph hat in front of the exclusive Hotel Europe on the WEF’s promenade.  “I bought 3 Bitcoin a few days ago” – @nasdaily, internet sensation and content creator with over 50 million followers on various platforms combined. #WEF22 #Davos2022Are you also buying the #Bitcoin dip? pic.twitter.com/KsKJHLMNeO— Cointelegraph (@Cointelegraph) May 24, 2022A HODLer with conviction, Yassin offered advice to those new to Bitcoin and bear markets: “It’s time to be greedy. So if you have anything you’ve wanted to build, do, invest in whatever. Everything now comes at a flash sale. I’m greedy today and for the next 12 months.”Yassin is a fan of the Sage of Omaha, AKA Warren Buffet, the billionaire business magnate in charge of Berkshire Hathaway. In 1986, Buffet penned an investor letter that coined a popular investor cliché. Related: WEF 2022: Web3 no longer just about crypto and DeFi, says Polkadot founder Gavin WoodAccording to Buffet, investors should be “fearful when others are greedy, and greedy when others are fearful.” The popular investment strategy has since been hijacked and meme-ified by the crypto world. The phrase roughly translates to “buy the dip”. As for Yassin, he jokes that he’s “good for Bitcoin now,” after adding 3 BTC to his stash when the price was sub $30,000. In the meantime, he’s excited to build out a crypto community, and undoubtedly take his audience on a journey further down the Bitcoin rabbit hole. The video interview will be shared on the Cointelegraph Youtube channel. Subscribe here. 

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Bitcoin Pizza Day rewind: A homage to weird and wonderful BTC purchases

Bitcoin Pizza Day rewind: A homage to weird and wonderful BTC purchases

Uverejnil používateľ | máj 22, 2022 |

Happy Bitcoin Pizza Day! Before you dial for a Margherita to commemorate the world’s first real-world Bitcoin transaction, here’s a slice of trivia:What do a family holiday to Japan, a 50 Cent album, a steak dinner, and a framed cat photo all have in common? They were all paid for with Bitcoin (BTC) by members of the Cointelegraph Bitcoin community! And just like the Bitcoin pizzas that cost 10,000 BTC, which are now worth more than $300 million, the community’s Bitcoin purchases have also skyrocketed. Benjamin de Waal, the VP of Engineering at Bitcoin exchange Swan Bitcoin told Cointelegraph, “I spent 7 BTC on a family trip to Japan a few years back.” In today’s value, 7 BTC is worth well over $200,000 —  but Ben’s happy because his kids are happy:“It would have been worth a lot more now; but I don’t regret it at all. A good childhood full of adventure, fun, and learning is priceless.”Felix Crisan, the scammer vigilante, told Cointelegraph how he once spent 50 BTC (worth $1.5 million) developing a new software module for his company in 2015. Crisan added that in 2016:“​​Let’s not forget some almost 1BTC ‘spent’ betting who the next US president’s going to be.” […] Of course, I didn’t win.”That’s a $30,000 bet at BTC’s current market price.Jeffrey Albus, Editor at Cointelegraph, shared that he splashed out on a steak dinner to demonstrate Bitcoin’s peer-to-peer capabilities “sometime in 2011 or early 2012.” “We paid 15 BTC — 12 for the meal, plus 3 BTC left as a tip (which the waitress probably threw away.)”Worse still, the value of 15 BTC back over ten years ago was so small that it fell short of the total bill: Albus had to top it up with good old greenbacks. The value of the Bitcoiner-appropriate steak dinner is now worth shy of half a million dollars.In a word to the wise, Julien Liniger, CEO of Swiss Bitcoin exchange Relai–and a Bitcoin maximalist through and through, told Cointelegraph that he “bought a bitcoin hoodie for 0.1 BTC back in the days, but that was the last thing” — a roughly $3,000 hoodie. He explained that “it then became too stupid of a thing to me to spend instead of stack sats.” Meanwhile, the team at CoinCorner, the UK Bitcoin exchange behind the contactless Lightning Network payment card, shared a few stories. Danny Scott, the CEO, bought the 50 Cent album “Animal Ambition” with Bitcoin when the market price was around $600. 50 Cent famously “forgot” he accepted 700 BTC for the album — let’s hope Scott forgets the missed gains, too! Molly Spiers, CoinCorner’s Head of Marketing, told Cointelegraph, “I bought a photo postcard of my cats […] for 0.009 BTC.” The $270 postcard was sadly not enough for Spiers to keep a hold of it; ‘I’ve lost them somewhere over the years – I’d have framed them with pride!” Fortunately, there are “no regrets,” as it does “make for a good story.” Plus, she shared a picture of the cats: Molly Spier’s cats. The photo postcard is sadly lost. Source : Molly SpiersWhile “experimenting with Bitcoin as a currency,” Matthew Ward, CoinCorner’s software developer, told Cointelegraph that he “bought the game Cities Skylines back when it launched on Steam in March 2015 for 0.108 BTC.” You can be the judge of whether the graphics merit a $3,000 price tag: Cities Skylines gameplay. Source: themacgames.netFinally, Didi Taihuttu, known as the father of the Bitcoin Family and sometimes the Bitcoin tattoo guy, spent 2.75 BTC on a Bitcoin miner in 2014. Taihuttu told Cointelegraph that “the strangest part is that when BTC hit around $200, I gave up mining BTC and started to mine dogecoin (DOGE).” Had he held the BTC, he would have over $180,000. Related: ​​Try topping this: PizzaDAO celebrating Bitcoin Pizza Day with 100 parties worldwideTaihuttu also shared that during his adventures as The Bitcoin Family, he’s parted with over 9 BTC ($270,000), which he describes as “losing 9 BTC but gaining an amazing adventure.” And for those wondering what happened to the 10,000BTC Hanyecz spent on the pizzas, according to Cointelegraph research, 5% of the total landed in a very wealthy wallet, while “some of the funds were seemingly liquidated” on a failed crypto exchange. The wealthy wallet that chowed down on some of Hanyecz’s BTC is in the top 15 richest wallets in Bitcoin, accumulating over 53,000 BTC. The total spent or sent from the wallet is 0 BTC: a certified Bitcoin hodler.

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Central bankers bellow Bitcoin on El Salvador's Bitcoin Beach

Central bankers bellow Bitcoin on El Salvador's Bitcoin Beach

Uverejnil používateľ | máj 20, 2022 |

The orange pilling adventure in El Salvador continues. In a video that beggars belief, 44 central bankers and financial delegates from emerging markets around the world shout “Bitcoin!” while posing for a photo in El Zonte, El Salvador:And all the Central Bankers screamed…. pic.twitter.com/MxdOrYD3lc— Bitcoin Beach (@Bitcoinbeach) May 20, 2022It seems that by day three of El Salvador’s financial inclusion conference, the central bankers are warming to Satoshi Nakamoto’s innovation, enjoying a trip to Bitcoin (BTC) Beach. El Zonte or “Bitcoin Beach” is the home of Bitcoin in El Salvador, an iconic destination for Bitcoin enthusiasts. It birthed the movement which led to El Salvador proclaiming Bitcoin as legal tender in 2021. Nicolas Burtey, co-founder of Galoy Money — the company that created the Bitcoin Beach wallet, told Cointelegraph that the bankers visited El Zonte to learn from the Bitcoin Beach team on Thursday, May 19.Burtey told Cointelegraph that the sentiment towards Bitcoin was “super good,” and that “nothing beats the experience of using lightning to discover the potential of Bitcoin.” In a nod to Bitcoin adoption around the world, Burtey shared: “Multiple central bankers said I should meet their team in their country.” The central bankers from countries including Paraguay, Ghana and Egypt descended onto the town to spend satoshis and interact with locals, including some minor celebrities. The bankers met with Mama Rosa, one of the first vendors to accept Bitcoin in El Zonte back in 2019 to buy pupusas, a Salvadoran flatbread snack:The world famous Mama Rosa and her son and ⁦@HopeHousesv⁩ founder ⁦@jorgebitcoinES⁩ helping central bankers use #Bitcoin to buy the best pupusas in #ElSalvador pic.twitter.com/Kcq8dH2oxt— Bitcoin Beach (@Bitcoinbeach) May 19, 2022

One Bitcoiner shared that they helped “a central banker buy a coconut from an unbanked local in Bitcoin Beach, El Zonte using Bitcoin.” The President, Nayib Bukele, also shared a series of photos of the bankers with their smartphones out, showing El Chivo wallets (El Salvador’s BTC payment infrastructure) and lightning invoices.Bitcoin Lightning Network inaction. Source: TwitterIt’s important to note that the conference for the bankers would tackle financial inclusion and improving financing for small and medium-sized businesses. Mention of Bitcoin appeared in the event’s official publication and pre-conference tweets. However, the Alliance for Financial Inclusion, an event partner, did not disclose Bitcoin in its event agenda. Related: The Lightning Network Lunch: A Bitcoin contactless payment storyFor the Central Bank of Paraguay, whose delegate was present, conversations about Bitcoin came as a surprise in the world’s first country to make BTC legal tender. The Paraguayan central bank released an official statement on May 16, declaring:“The meeting’s focus has no relation to cryptocurrencies or similar. The Paraguay Central Bank does not intend to discuss cryptocurrencies in said environment or meeting.”Yet in the candid shots shared on social media; from the El Chivo branding to the Bitcoin Beach t-shirts, to the Lightning wallet demonstrations and even cries of “Bitcoin!”, Bitcoin was clearly front and center.

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Jack Dorsey’s Block hits $1.3B in Q1 profits, $43M in BTC trading revenue

Jack Dorsey’s Block hits $1.3B in Q1 profits, $43M in BTC trading revenue

Uverejnil používateľ | máj 19, 2022 |

Block, the pro-Bitcoin (BTC) umbrella company that hosts Cash App, Square and Afterpay, continues its growth in 2022. According to its Shareholder letter, in the first quarter of 2022, gross profits are “up 34% year over year.”In total, the group netted $1.29 billion in gross profits. However, operating costs were also up “$1.52 billion in the first quarter of 2022, up 70% year over year.”  The group explains that the acquisition of Afterpay, a buy now pay later service, could explain the increasing costs.In total net Block’s revenues reached $3.96 billion from January to March 2022, down 22% compared to 2022. The group confirms that the drop was “driven by a decrease in Bitcoin revenue.”Cash App, Block’s Bitcoin retail outlet as well as a mobile payment service, continued to sell Satoshis, although the figures are less promising than the previous quarter: “Cash App generated $1.73 billion of Bitcoin revenue and $43 million of Bitcoin gross profit during the first quarter of 2022, down 51% and 42% year-over-year, respectively”.In light of Bitcoin prices struggling to break $30,000 in quarter two, the group will take encouragement from an increase in non-Bitcoin revenues in quarter one. On the march by $44 year on year to $2.23 billion, the Block ecosystem, which also includes Tidal and the group TBD is not wholly dependent on crypto market performance.  Plus, the Square ecosystem of payment solutions for merchants, including point of sale devices, has performed well. It delivered a “gross profit of $661 million, an increase of 41% year-over-year.”Related: FTX CEO sees no future in Bitcoin payments, community fires backThe quarterly report made 81 mentions of Bitcoin and zero of cryptocurrency, holding true to Jack Dorsey’s Bitcoin-maxi credentials. Furthermore, the report states that over 10 million Cash App accounts have bought Bitcoin. Cash App does not offer the purchase of popular cryptocurrencies such as Ethereum (ETH) or Dogecoin (DOGE). In April, it was announced that its customers in the United States could automatically invest a portion of their direct deposit paychecks into Bitcoin using Cash App, or that their “direct deposits” would automatically convert, says the report.

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The Lightning Network Lunch: A Bitcoin contactless payment story

The Lightning Network Lunch: A Bitcoin contactless payment story

Uverejnil používateľ | máj 18, 2022 |

The Lightning Network (LN) just got a bit faster, as the suitably named Bolt Card now enables Bitcoin (BTC) enthusiasts to pay for goods and services using contactless technology. A data analyst at the company behind the card, CoinCorner, took the Bolt card on a trial run on the Isle of Man, a British Crown dependency in the Irish Sea. “MSW” — as he is known — tapped to pay at more eight point-of-sale (PoS) devices during his lunchtime investigation. It worked like this: for any PoS device showing a Lightning invoice, MSW simply hovered the NFC enabled Bolt Card nearby. In total, MSW 20 paid for 20 breakfasts, lunches, drinks and snacks using the LN prior to the Bolt Card’s release:⚡️#LightningLunch – Day 16⚡️Prawn noodles, mango lassi Street KitchenPrice: 44,634 丰 (£11.50) Notes: Magnificent as always, but pretty spicy Pro-tip: Take your lunch break early to save sats ! Total spent: 413,107 丰 / £123.30Current value: £110.06 pic.twitter.com/EA8Dgx6qoI— CoinCornerMSW (@CoinCornerMSW) May 9, 2022MSW told Cointelegraph that using the Bolt Card “felt completely natural and worked just as you would expect!”“For me, it is a huge step up in terms of user experience when compared to scanning QR codes. A bonus for me was getting to know some of the local businesses around the Isle of Man and watching how they have embraced the Bolt Card.”A data analyst to the core, MSW also documented the comparative cost of parting with Satoshis, (the smallest denomination of a Bitcoin), versus paying for refreshments with pounds sterling, the Isle of Man’s currency. In light of the recent bear market price action, the pound value is marginally higher.MSW’s graph of his Lightning Lunches. The value of Sats spent (blue) is higher than pounds spent (yellow). Source: TwitterA layer two technology built on Bitcoin, the LN is ideal for instant payments and micropayments. However, prior to the Bolt Card, shoppers from El Salvador to the Isle of Man would pay over the LN by scanning a QR code. For Danny Scott, CEO of CoinCorner, this is “not as efficient and user-friendly as we need it to be for a mass audience.” Payment with QR codes is lengthy and awkward:“It still involves unlocking a phone, opening an app, scanning a QR code and then making the transaction. This is a backwards step when it comes to user experience in comparison to what we’re used to today for in-person payments.”In true Bitcoiner style, the Bolt Card is interoperable with industry protocols including Lightning and LNURL. Scott emphasizes that they “will explore other concepts around how to make The Bolt Card, and the user experience for all Lightning use cases, better.”In all, the Lightning Network continues to grow, from large payment integrations such as Cash App down to grassroots movements and individuals making micropayments. Related: Rising global adoption positions crypto perfectly for use in retailThe Bolt Card is another Bitcoin payment innovation, “real products for the real world,” says Scott. Ultimately, it furthers the path toward “hyperbitcoinization.” The progress in payments flies in the face of FTX CEO Sam Bankman-Fried’s recent comments, who got into hot water for suggesting he sees “no future” in Bitcoin payments.

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