El Salvador to make BTC legal tender as Anonymous threatend Elon Musk plus Ethereum latest


EL SALVADOR’S president wants to make Bitcoin legal tender in the country – as Elon Musk was threatened by online activists Anonymous.

It would become the first country in the world to officially adopt cryptocurrency as mainstream payment and would be used alongside the US dollar, El Salvador’s official currency.

Bitcoin, Ethereum, and Cardano are enjoying a period of relative stability after shifting by less than 1 per cent in price since Friday.

Meanwhile, Twitter co-founder Jack Dorsey threw his weight behind the future of Bitcoin has he backed the importance of the cryptocurrency.

“Bitcoin changes absolutely everything,” Dorsey said at the Bitcoin 2021 Conference this weekend. “I don’t think there is anything more important in my lifetime to work on. If I were not at Square or Twitter, I would be working on bitcoin. If [bitcoin] needed more help than Square or Twitter, I would leave them for bitcoin. But, I believe both companies have a role to play.”

It comes after Elon Musk said he “misses” Bitcoin after the market’s recent comeback stalled yesterday as several major coins took a tumble.

The Tesla CEO posted a meme about a couple breaking up over excessive quoting of Linkin Park lyrics. Mr Musk shared the meme with “#Bitcoin” and a heartbreak emoji.

Read our Bitcoin live blog below for the latest updates…

  • ELON MUSK SENDS BITCOIN, DOGECOIN AND ETHERIUM VALUES PLUNGING WITH LINKIN PARK MEME TWEET ABOUT ‘THE END’

    ELON Musk sent Bitcoin’s value into free fall after he posted a meme about Linkin Park with the hashtag #Bitcoin and a broken heart emoji.

    The CEO of SpaceX and Tesla tweeted a meme of a split couple discussing lyrics from Linkin Park’s hit In the End suggesting a breakup – like the billionaire’s relationship with Bitcoin.

    “Her: I know I said it would be over between us if you quoted another Linkin Park song but I’ve found someone else,” the meme read. “Him: So in the end it didn’t even matter?”

    Accompanying the meme, which showed a man and a woman distantly sitting next to each other on a couch, was the hashtag #Bitcoin and a broken heart emoji.

    The billionaire’s tweeting caused Bitcoin’s value to decrease by six percent, while other cryptocurrencies like Ethereum (by seven percent) and Dogecoin (by eight percent) also nosedived.

  • BITCOIN 2021 CONFERENCE: SPEAKER LINE-UP AND WHAT TO EXPECT

    BITCOIN 2021, “the biggest Bitcoin event in history” is set to take place in Miami and more than 20,000 people are expected to attend.

    It comes after the market’s slow recovery from plummeting in May 2021 after hitting record highs.

    Read more here.

  • GRAPHIC: WHAT IS THE PRICE OF CRYPTO?

  • BITCOIN STORY ROUND UP: THE HIGHS AND LOWS OF CRYPTO

  • MEGHAN MARKLE GIVES BIRTH TO BABY GIRL AT SANTA BARBARA COTTAGE HOSPITAL IN LA AFTER ‘HOME BIRTH PLANS’

    MEGHAN Markle has given birth to a baby girl at a hospital in Los Angeles – after sources previously said there were plans for a home birth.

    The Duke and Duchess of Sussex had their second child at Santa Barbara Cottage Hospital on Friday at 11.40am, it was announced today.

    This comes after it was previously reported Meghan was planning a home birth at her luxury LA mansion.

    The Duchess of Sussex was initially said to be planning to deliver her daughter at home in the early summer.

    But their daughter was born at Santa Barbara Cottage Hospital instead – as Meghan seemed to ditch the idea to have a home birth. Lilibet Diana, named in tribute to the Queen and Princess Diana, is the first royal to be born in the US.

  • NORTON 360 TO OFFER CUSTOMERS ETHEREUM MINING ACCESS IN COMING WEEKS

    Norton 360 customers will have access to an Ethereum mining feature in the “coming weeks”, the company said.

    Cryptocurrency “mining” works by using a computer’s hardware to do complex calculations in exchange for a reward.

    It is not clear what the business model for Norton Crypto is, or if Norton will take a cut of earnings.

    The company pitched the idea as a safe and easy way to get into mining, an “important part of our customers’ lives”.

    In a press release, Norton LifeLock – once called Symantec – said: “For years, many coin miners have had to take risks in their quest for cryptocurrency, disabling their security in order to run coin mining.”

  • HOW TO SPOT CRYPTO SCAMS

    CRYPTO scams are popping up all over the internet. We explain how to spot them.

    • Promises of a high or guaranteed return – Does the offer look realistic? Scammers often attract money by making fake promises.
    • Heavy marketing and promotional offers – If they are using marketing tricks to con customers you should beware.
    • Unamed or non-existent team members – Just like any business you should be easily able to find out who is running it.
    • Check the whitepaper – Every crypto firm should have a white paper. This should explain how it plans to grow and make money. If this doesn’t make sense, then it could be because the founders are trying to confuse you.
    • Do your research – Check reviews online and Reddit threads to see what other people think. 
  • COPS FIND GIANT BITCOIN ‘MINE’ STEALING THOUSANDS OF POUNDS OF ELECTRICITY DURING WAREHOUSE DRUG RAID

    COPS were stunned to find a Bitcoin “mine” stealing thousands of pounds of electricity during a suspected warehouse drug raid.

    Officers in the West Midlands thought they were about to bust a cannabis farm – but were met with the advanced tech scam instead.

    Cryptocurrencies have to be “mined” in order to be created, which involves solving increasingly complex mathematical puzzles – requiring more and more powerful computers and significantly more energy.

    Most computers used for the process cost more to run than the value of the currency they create – making stolen electricity a lucrative business when a single Bitcoin is currently worth around £26,000. In this case suspicions had been raised over the huge volume of power being used, leading cops to initially think it was being used for drug production.

    Police heard lots of people were visiting the unit throughout the day, with lots of wiring and ventilation ducts visible while locals say three men were behind the operation.

  • EL SALVADOR’S BUKELE TO PROPOSE MAKING BITCOIN LEGAL TENDER

    El Salvador may become the first country to make bitcoin legal tender, President Nayid Bukele announced Saturday, saying he would soon propose a bill that could transform the remittance-dependent economy.

    The move would make the Central American nation the first in the world to formally accept the cryptocurrency as legal money and would “allow the financial inclusion of thousands of people who are outside the legal economy,” Bukele said.

    “Next week, I will send to Congress a bill that makes Bitcoin legal money,” the populist leader said during a video message to the Bitcoin 2021 conference in Miami, Florida.

    The bill aims to create jobs, he said, in a country where “70 percent of the population does not have a bank account and works in the informal economy.”

    The El Salvador government is yet to give details of the bill, which will require approval from a parliament dominated by the president’s allies.

  • CRYPTOCURRENCY DEALERS IN HOT WATER

    IN an investigation set up by the Financial Conduct Authority, the City regulator, it has emerged that up to 50 companies dealing in cryptocurrencies such as bitcoin may be forced to close after failing to meet the UK’s anti-money laundering rules.

    It was announced yesterday that an “unprecedented number” of companies had withdrawn applications from a temporary permit scheme that allowed firms to continue trading until the regulator could approve or reject their operations. 

    A large number of firms have fallen short of anti-money laundering standards put in place to halt criminal organisations from disguising the source of their money.

    Fines or legal action will be issued by the FCA to companies that refuse to shut their businesses down.

  • BITCOIN BOMBS

    The price of Bitcoin has dropped once again today, after Tesla and SpaceX boss Elon Musk’s cryptic “breakup” tweets.

    Musk shared a meme on Twitter featuring a breakup on Thursday evening, showing an unhappy looking couple.

    Read more here.

  • BITCOIN 2021 CONFERENCE: SPEAKER LINE-UP AND WHAT TO EXPECT

    BITCOIN 2021, “the biggest Bitcoin event in history” is set to take place in Miami and more than 20,000 people are expected to attend.

    It comes after the market’s slow recovery from plummeting in May 2021 after hitting record highs.

    Read more here.

     

  • GRAPHIC: WHAT IS THE PRICE OF CRYPTO?

  • BITCOIN STORY ROUND UP: THE HIGHS AND LOWS OF CRYPTO

  • WHAT NORTON 360’s ETHEREUM MINING INTERFACE WILL LOOK LIKE

    A screenshot first provided by Norton Crypto shows what their mining software  interface will look like
    A screenshot first provided by Norton Crypto shows what their mining software interface will look likeCredit: NORTON
  • NORTON 360 TO OFFER CUSTOMERS ETHEREUM MINING ACCESS IN COMING WEEKS

    Norton 360 customers will have access to an Ethereum mining feature in the “coming weeks”, the company said.

    Cryptocurrency “mining” works by using a computer’s hardware to do complex calculations in exchange for a reward.

    It is not clear what the business model for Norton Crypto is, or if Norton will take a cut of earnings.

    The company pitched the idea as a safe and easy way to get into mining, an “important part of our customers’ lives”.

    In a press release, Norton LifeLock – once called Symantec – said: “For years, many coin miners have had to take risks in their quest for cryptocurrency, disabling their security in order to run coin mining.”

  • EXPLAINED: WHAT IS DOGECOIN?

    Dogecoin is a cryptocurrency and was first launched back in 2013. Dogecoin has the image of a Shiba Inu dog as its logo.

    The image became a popular internet meme called doge, and it features the dog surrounded by text in the comic sans font with words like “much wow”.

    Software engineers Jackson Palmer and Billy Markus originally created Dogecoin as a joke based on this meme.

    It has been marketed as the “fun” version of bitcoin but has gained in value and attracted more serious interest since then. Two weeks after it first launched, the value of it jumped 300% after China banned banks from investing in cryptocurrencies, according to Investopedia.

  • MORE ON EL SALVADOR ADOPTING BITCOIN

    According to Bukele, bitcoin represented “the fastest growing way to transfer” those billions of dollars in remittances and to prevent millions from being lost to intermediaries.

    “Thanks to the use of bitcoin, the amount received by more than a million low-income families increases by several billion dollars every year,” said the president.

    “This improves life and the future of millions of people.”

    The cryptocurrency market grew to more than $2.5 trillion in mid-May 2020, according to the Coinmarketcap page, driven by interest from increasingly serious investors from Wall Street to Silicon Valley.

    But the volatility of bitcoin — currently priced at $36,127 — and its murky legal status has raised questions about whether it could ever replace fiat currency in day-to-day transactions.

  • EL SALVADOR’S BUKELE TO PROPOSE MAKING BITCOIN LEGAL TENDER

    El Salvador may become the first country to make bitcoin legal tender, President Nayid Bukele announced Saturday, saying he would soon propose a bill that could transform the remittance-dependent economy.

    The move would make the Central American nation the first in the world to formally accept the cryptocurrency as legal money and would “allow the financial inclusion of thousands of people who are outside the legal economy,” Bukele said.

    “Next week, I will send to Congress a bill that makes Bitcoin legal money,” the populist leader said during a video message to the Bitcoin 2021 conference in Miami, Florida.

    The bill aims to create jobs, he said, in a country where “70 percent of the population does not have a bank account and works in the informal economy.”

    The El Salvador government is yet to give details of the bill, which will require approval from a parliament dominated by the president’s allies.

  • ‘TO THE MOON!’: DOGECOIN FAN STORMS STAGE DURING BITCOIN CONFERENCE 2021 IN MIAMI

    The world’s largest ever bitcoin conference was just interrupted by a rather enthusiastic member of the self-proclaimed Doge Army.

    Bitcoin 2021 in Miami saw a stage intruder rip off a layer of clothing and shout “Dogecoin to the Moon!”

  • WATCH: ELON MUSK SENDS BITCOIN, DOGECOIN AND ETHERIUM VALUES PLUNGING WITH LINKIN PARK MEME TWEET ABOUT ‘THE END’

    Elon Musk sends Bitcoin, Dogecoin and Etherium values PLUNGING with Linkin Park meme tweet about ‘the end’
  • WHY IS THE PRICE OF ETHEREUMMAX GOING UP?

    The value of EthereumMax is currently sitting at $0.0000002907, up by 21% over the past 24 hours, according to CoinMarketCap.

    A few weeks ago, EthereumMax claimed to be the only cryptocurrency that can be used to buy official tickets for the pay-per-view boxing fight between boxer Floyd Mayweather and YouTube star Logan Paul.

    This is set to take place on Sunday, June 6 in Florida.

    Myron Jobson, personal finance campaigner of Interactive Investor, told The Sun: “The creators of EthereumMax will hope that the tie up with the star-studded boxing event will help propel the profile of the coin, which is still incredibly new having only launched last month, to new heights.”

  • BITCOIN AND ETHEREUM PRICE NEWS – JUNE 5 CRYPTOCURRENCY VALUE IN USD AND GDP

    BITCOIN and Ethereum as well as other cryptocurrencies continue to be volatile as the markets continue their rollercoaster ride.

    The two largest currencies, Bitcoin and Ethereum, have seen prices fluctuate considerably over the past week. The market’s recent comeback stalled yesterday as several major coins took a tumble.

    This included the likes of Bitcoin, Ethereum and Dogecoin which all fell again despite having trended upwards for much of Friday.

    The market movements come as Elon Musk took to Twitter to post memes mocking the market downturn.

    The CEO of SpaceX and Tesla tweeted a meme of a split couple discussing lyrics from Linkin Park’s hit In the End suggesting a breakup – like the billionaire’s relationship with Bitcoin. The meme was accompanied by the hashtag #Bitcoin and a broken heart emoji.

  • WHY IS THE PRICE OF ETHEREUMMAX GOING UP?

    The value of EthereumMax is currently sitting at $0.0000002907, up by 21% over the past 24 hours, according to CoinMarketCap.

    A few weeks ago, EthereumMax claimed to be the only cryptocurrency that can be used to buy official tickets for the pay-per-view boxing fight between boxer Floyd Mayweather and YouTube star Logan Paul.

    This is set to take place on Sunday, June 6 in Florida.

    Myron Jobson, personal finance campaigner of Interactive Investor, told The Sun: “The creators of EthereumMax will hope that the tie up with the star-studded boxing event will help propel the profile of the coin, which is still incredibly new having only launched last month, to new heights.”

  • HOW TO SPOT CRYPTO SCAMS

    CRYPTO scams are popping up all over the internet. We explain how to spot them.

    • Promises of a high or guaranteed return – Does the offer look realistic? Scammers often attract money by making fake promises.
    • Heavy marketing and promotional offers – If they are using marketing tricks to con customers you should beware.
    • Unamed or non-existent team members – Just like any business you should be easily able to find out who is running it.
    • Check the whitepaper – Every crypto firm should have a white paper. This should explain how it plans to grow and make money. If this doesn’t make sense, then it could be because the founders are trying to confuse you.
    • Do your research – Check reviews online and Reddit threads to see what other people think.





Source link