THE President of El Salvador wants to make Bitcoin legal tender in the south American country –
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 has thrown 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…
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‘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!”
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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.”
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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.
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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.”
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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.
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GRAPH: WHAT IS THE CURRENT PRICE OF CRYPTO?
These figures are based over the last 24 hour period.
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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.
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HOW RISKY IS ETHEREUMMAX?
Investing is always a risk but putting cash into cryptocurrencies is even riskier as they are very volatile There’s also scant regulation for cryptocurrency firms, so you likely won’t have any protection if things go wrong.
Mr Jobson said the recent launch of EthereumMax means it’s “yet to build up a track record to observe trends”.
He added: “Cryptocurrencies are notorious for wild price swings.
“It is not uncommon for the value of cryptocurrencies to quickly fall by hundreds. The yo-yoing price of the asset is simply too much for many investors to stomach.
“Cryptocurrencies, and those involved in the space, remain highly speculative and should only be a tiny portion of a portfolio – whatever your risk appetite is.”
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WHAT IS RIPPLE’S (XRP) PRICE TODAY, JUNE, 5?
The value of Ripple (XRP), at the time of writing, was $0.95 (£0.67), representing another significant fall in value over the past few days.
XRP is a form of digital currency that can be used on the Ripple network.
It can either be transferred between individuals or banks. For example, if you need to send euros to someone who uses dollars, the Ripple network would convert this into XRP.
The key difference between the two is that XRP is a coin, while Ripple is a network that allows the transfer of money.
The founders of Ripple created XPR before the company Ripple existed.
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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.
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LUNGING 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.
In a subsequent tweet, Musk posted another meme of a woman facetiming a man saying “I miss you,” and “why are you crying” said the woman, with the man replying “cuz I miss you too.”
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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.”
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EXPLAINED: WILL CHAINLINK GO UP IN VALUE?
Chainlink is currently trading at $31.77 at the time of writing on Thursday afternoon, according to Coindesk.
That’s up 2% in the last 24 hours and around 32% since Sunday, when it was trading at $23.71.
But while Chainlink has been surging, like other cryptocurrencies it can easily tumble again and it’s difficult to predict when.
Chainlink hit an all time high of $51.24 on May 10, but the cryptocurrency crashed later in the month.
It’s still trading at around 40% less than that record high
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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.
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EXPLAINED: WHAT HAPPENS AT BITCOIN 2021?
The two-day cryptocurrency event at Wynwood’s Mana Convention Center is expected to feature special guests, BTC activations and “the chance to celebrate the world’s best technology with all of your internet friends IRL.”
General tickets cost $1,500 and are already sold out.
Visitors who splashed $20,000 for a “whale pass” will get an extra day and various other perks such as Celebrity Suite tickets to Mayweather vs. Logan Paul fight and a Tony Hawk Meet-and-Greet Pass.
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HOW MUCH DID BITCOIN FALL BY ON FRIDAY? LATEST VALUES FOR ETHEREUM AND DOGECOIN
According to CNET reports, Bitcoin fell more than 4.5%, to around $36,823 as of 9 a.m. PT on Friday.
“Ethereum, Dogecoin and other cryptocurrencies were also down,” the reports read.
The value of Bitcoin plummeted even further towards the end of Friday, to $37,772.
By Saturday morning, it had dropped to $35,809.
The Wall Street Journal added, “Ether dropped 4.2% from its 5 p.m. Thursday level to $2,702.23. Dogecoin, another favorite of Mr. Musk’s, declined 4.7% to about 38 cents”.
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GRAPH: WHAT IS THE CURRENT PRICE OF CRYPTO?
These figures are based over the last 24 hour period.
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WHAT IS RIPPLE’S (XRP) PRICE TODAY, JUNE, 5?
The value of Ripple (XRP), at the time of writing, was $0.95 (£0.67), representing another significant fall in value over the past few days.
XRP is a form of digital currency that can be used on the Ripple network.
It can either be transferred between individuals or banks. For example, if you need to send euros to someone who uses dollars, the Ripple network would convert this into XRP.
The key difference between the two is that XRP is a coin, while Ripple is a network that allows the transfer of money.
The founders of Ripple created XPR before the company Ripple existed.
-
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.
In a subsequent tweet, Musk posted another meme of a woman facetiming a man saying “I miss you,” and “why are you crying” said the woman, with the man replying “cuz I miss you too.”
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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.
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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.
-
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.
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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.
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BITCOIN STORY ROUND UP: THE HIGHS AND LOWS OF CRYPTO
