The user posted a link to the Post’s story and appeared to corroborate it. It’s unclear why the original poster, who we now know is a German national named “Hendrik,” decided to come clean about the post. Given what started as a prank escalated into a story that captured the attention of international news outlets such as Reuters and Bloomberg, Hendrik may have feared legal ramifications if his “trollpost” escalated further. social media analysis could be used to predict the price of smaller cryptocurrencies. “I suspect there are entities out there right now mining social data for insights,” Gilbert said. “I would expect it works best for medium sized market-cap cryptos and using more sophisticated sentiment analysis techniques on the comments than frequency counts.” Bitcoin’s subsequent sell-off throughout 2018 saw bitcoin mentions fall along with the price. “Nothing bolsters my faith in a currency like a crappy MS Paint doodle,” one Reddit user said of the ad when it was created.
- In 2020, COVID spending raised the federal deficit to $3.1 trillion in 2020 from $1 trillion in 2019.
- Reddit began accepting bitcoin back in 2013 to diversify payment options on the site.
- Not long after the surprise announcement, attention turned to a Jan. 2 post from a Reddit user named “TSLAinsider” who had claimed to have a hot tip about Tesla’s move into the cryptocurrency market.
- – A Reddit user who claimed in a post a month ago to be a Tesla Inc insider and knew about the electric car maker’s purchase of bitcoin said on Tuesday that his assertions were not true.
As of the date this article was written, the author owns 0.01 bitcoin. Reddit began accepting bitcoin back in 2013 to diversify payment options on the site. However, it has not revealed usage statistics for bitcoin payments on its site. At the time of the 2013 announcement, Coinbase had hoped that Reddit’s decision would kickstart mainstream adoption of bitcoin. While bitcoin has exploded in value since those days, mainstream adoption of the cryptocurrency remains a pipe dream.
How Does Reddits Decision Affect Bitcoin?
Coinbase Commerce allows merchants to accept multiple cryptocurrency payments from global customers. It also didn’t quite line up with Tesla’s Monday regulatory filing, which said the company bought Bitcoin after changing its investment policy in January. The purchases spanning 72 hours would have had to start during the final days of December if TSLAinsider’s timeline were accurate. His initial post — which at first got no comments from other users on Reddit’s Bitcoin-focused forum — was dubious enough that moderators of the message board dedicated to Tesla stock removed it, according to Hendrik. Hendrik provided The Post with a screenshot showing himself logged into the TSLAinsider Reddit account, which triumphantly posted “I TOLD YOU SO” after Tesla’s market-moving Monday announcement. In December, crypto lending platform BlockFi announced plans to team up with Visa to offer a credit card that rewards users with BTC.
GameStop Corp said on Tuesday it may sell new shares as the U.S. video game retailer that led the Reddit rally of “meme stocks” looks to take advantage of a more-than-800% surge in its stock price since January. GameStop commented on the potential share offering in a regulatory filing for fourth-quarter earnings which showed a return to profitability, with 175% growth in e-commerce sales. Grapevine, Texas-based GameStop’s shares have skyrocketed this year as retail traders bet against Wall Street hedge funds that had shorted the stock. Bitcoin touched its all-time high of $48,003.72 on Tuesday after the Tesla announcement. The cryptocurrency traded 0.10% higher at $46,392.83 at press-time.
Cmc Crypto 200
It now expects adjusted pre-tax profit to be in line with last year’s £267m, better than previous predictions of a 5pc fall. Halma said revenue has grown in its four regions, with the strongest performance seen in Asia Pacific. On the FTSE 250, bitcoin reddit Softcat shot up 226p to £17.85, making it the second biggest gainer on the mid-cap index following Gamesys. The IT firm said gross profits increased by a fifth to £134.5m, as revenues boosted 10pc to £577m for the six months to January.
In this version of the future, “land and cryptocurrency” will be the only relevant assets of value left. “I told you so,” TSLAinsider wrote on Monday after the Tesla news on bitcoin. The value of the digital currency fell from its previous $260 to $130 in just one day—a crash of half the earlier value. Since the app launched last month, users have made total transactions beaxy crypto exchange of more than GBP 1.7m (USD 2.37m), they added. The company also stated that the app lowers the merchant charges and transfer fees associated with digital payments. Recently-launched payments app Bottlepay has revealed its new feature that enables users to send and receive bitcoin via Twitter. Bitcoin’s best value proposition is its scarcity and perceived demand.
Institutions earn their keep not by hodling, but by making money as the middleman. The grassroots cypherpunk movement that gave birth to Bitcoin intended for $BTC to be a censorship resistant and immutable, fungible currency for the everyday person. Dec 5th Update, whaleclub is a scam https://forexpamm.info/beaxy-review/ and they stole $20,000. — Still using coinbase though, and giving money to founders. Oct 30th update he delivered $4,000 and now that money is in a whaleclub account 5–1 ethereum trade at 300. Reddit posters were revisiting the post on Tuesday in the light of Tesla’s disclosure.
The post looked like such a prescient prediction of Tesla’s bitcoin investment that financial news outlets including Reuters and Bloomberg picked it up this week. Not long after the surprise announcement, attention turned to a Jan. 2 post from a Reddit user named “TSLAinsider” who had claimed to have a hot tip about Tesla’s move into the cryptocurrency market. “I am a software dev working at R&D at Tesla in California, over the past 72 hours our company bought BTC at an average price of 33142$,” the user with the handle TSLAinsider posted on Reddit last month,” the post read, as reported by Reuters. A Reddit user claiming to be a software developer at Tesla posted that the company bitcoin reddit had bought bitcoin more than a month before Tesla CEO Elon Musk formally announced it. Tesla’s record-breaking bitcoin purchase stunned the markets earlier this week, causing the price of bitcoin to spike to a new high of over $48,000 per coin. Predicting a purchase of this size would require amazing foresight or insider knowledge, something which Reddit users were keen to figure out following a now-removed post from Jan. 2 by a user known only as Tslainsider. Moderators in r/TSLA, a subreddit dedicated to posts on the electric carmaker’s technology and stock price, previously appeared to remove the post here. It was left up in r/bitcoin, where the cryptocurrency is discussed.
How To Buy Bitcoin
Meanwhile, house-builder Bellway lost 79p to £34.13 as it revealed another £20m charge to deal with cladding issues, while also posting a 4pc decline in half-year profits to £280.2m. The user’s original post stating Tesla was buying bitcoin drew little attention when it appeared Jan. 2. But it received a second look Wednesday, a day after the electric carmaker and its CEO Elon Musk disclosed a $1.5 billion investment in the cryptocurrency that sent bitcoin to fresh highs. “I am a software dev working at R&D at Tesla in California, over the past 72 hours our company bought BTC at an average price of 33142$,” a user with the handle TSLAinsider posted in the bitcoin subreddit early last month. A Reddit user claiming to be a Tesla insider appeared to announce the carmaker’s purchase of bitcoin a month ago, according to a January post on the social media site that said Elon Musk’s electric car firm had bought $800m worth of the cryptocurrency.
Bitcoin Citadels have evolved into a permanent part of the Bitcoin vernacular; a meme to help imagine what life would be like post-hyperbitcoinization. The post is absolutely ridiculous, but surprisingly, it appears someone has recently doctored it to read as if OP themselves returned to edit the post, despite their account being deleted years ago. In 2013,a Reddit user appeared to present a bleak outlook of the year 2025, where rampant inequality and parabolic Bitcoin value has pushed the world to the brink of collapse. Proactive news headlines such as Clean Seed Capital Group, automated trading Plurilock Security, Darrada Financial, and Revive Therapeutics Proactive provide real-time news and video interviews with growing companies listed in the United States and Canada. The US dollar accounts for 80% of the world’s trade, but contributes only 25% of the world’s gross domestic product. From an investment perspective, people have been rewarded for saving US dollars as savings over the last few decades. The monetary policy behind the US dollar turned out to be a fatal flaw. We have already seen that we never tolerate our own currency, which the government cannot control.
— cutexlearn 6️⃣5️⃣🎹 (@sinkostangen) March 6, 2021
However, these are the same characteristics that have turned it into another tool of Wall Street as a commodity. In 2020, we heard about the multitude of Wall Street institutions jumping on the bandwagon. Within a six month period, commonly recognized names such Square, Paypal, Mass Mutual and most recently Tesla/Elon Musk announced their BTC purchases. These public pronouncements only serve one purpose, to induce fomo and more buying so as to keep driving up the price. Michael Saylor of Microstrategy is probably one of the loudest evangelists in this space.
Tesla said in its annual report published Monday that the decision to move nearly 8% of its reserves into bitcoin was part of its broad investment policy as a company aimed at diversifying and maximizing its returns on cash, including holding gold. “I have no idea what will happen once this reaches the newspapers but I think the price will explode even more,” the user wrote. When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open cryptocurrency discussion. This happened long before the creation of Bitcoin Cash. Today, r/btc users can discuss any cryptocurrency topic without fear of moderator retaliation, while r/Bitcoin and r/CryptoCurrency are both still heavily censored. The moral of the original post was to implore the reader to reconsider their investment, as widespread Bitcoin adoption is to supposedly ruin the world beyond repair. This trend would eventually lead a single Bitcoin to be worth $1 million by 2021. From then, there will be apparently no good way to express Bitcoin‘s value in dollars, as the dollar is no longer used.
The latest US Securities and Exchange Commission regulations have caused anger from privacy-related groups . Similar regulatory calls were made by European Central Bank Christine Lagarde and US Treasury Secretary Janet Yellen . This inevitably creates a color coin environment and effectively divides the BTC into a “white list” and a “color” Bitcoin class system. Well, you will only be able to use it outside the countries that prohibit unregistered addresses. Alex Gladstein, a human rights defender and Bitcoin maximalist, published his treatise on the NLW podcast . Unfortunately, with two classes of systems, registered and unregistered Bitcoin addresses, Bitcoin is inevitably a speculative tool on Wall Street. Bitcoin also always retains the transparency it needs for its immutability.
The ad was made by another still-somewhat-active Reddit user going by the name mavensbot. I write about how bitcoin, crypto and blockchain can change the world. The New York Post added that automated trading with the timeline on the Reddit post, Tesla would have had to start buying bitcoin in late December. This website is not intended for users located within the European Economic Area.