CommunityNews

CommunityNews

Bitcoin hits new record of $50,000

Digital currency Bitcoin has risen to a new record high of more than $50,000 (£36,000).

The so-called cryptocurrency, which was created by an unknown inventor, has risen about 72% this year.

Bitcoin and other cryptocurrencies are generated by computers. Part of its supposed value comes from the finite number that can be computed.

But regulators have warned that they are risky, since their value can change fast, both downwards and upwards.

This thread was posted by one of our members via one of our news source trackers.

Most Liked

dorgan

dorgan

I use it to receive donations and pay my vps. Government regulations on foreign currency is too heavy and converting ARS to USD costs me quite a lot of money.

I don’t think it’s very usable for day to day payments, but if you need to bypass stupid government restrictions, nothing beats it imho.

Doubling my savings these last 3 months was a nice bonus though.

malloryerik

malloryerik

Well you can’t lend or borrow BTC because of the wild volatility so there’s no real banking possible, but I can see usefulness as a cross-border payments system or a store of wealth if you’re in a place with broken currency and/or financial institutions. So maybe if I were in Venezuela I’d love BTC?

AstonJ

AstonJ

The UK now has UWOs - so for the largest cases (they probably don’t care so much about smaller transactions) they could probably find out through serving a UWO:

An unexplained wealth order (UWO) is a type of court order issued by a British court to compel the target to reveal the sources of their unexplained wealth.[1] UWOs were introduced by sections 1–2 of the Criminal Finances Act 2017 and are governed by sections 362A–362T of Part 8 of the Proceeds of Crime Act 2002. Persons who fail to account are liable to have assets seized after an enforcement authority, such as the National Crime Agency (NCA), makes a successful appeal to the High Court.

From: Unexplained wealth order - Wikipedia

Where Next?

Popular Other Fields topics Top

ErlangSolutions
2020 has seen a significant uptick in the number of companies looking at adding Digital Wallets and tokenization to their offerings. On o...
New
New
First poster: bot
Bitcoin uses more electricity annually than the whole of Argentina, analysis by Cambridge University suggests. “Mining” for the cryptocu...
New
First poster: Jsdr3398
Digital currency Bitcoin has risen to a new record high of more than $50,000 (£36,000). The so-called cryptocurrency, which was created ...
New
First poster: bot
As much as $365 billion wiped off cryptocurrency market after Tesla stops car purchases with bitcoin. Tesla CEO Elon Musk said Tesla wou...
New
CommunityNews
How Blockchains Work Chances are, you know what Bitcoin is. After all, it’s valued at over $47,000 per Bitcoin right now. This post isn’t...
New
First poster: bot
El Salvador has become the first country in the world to officially classify Bitcoin as legal currency. Congress approved President Nayi...
New
New
First poster: bot
Bitcoin mines require a lot of energy to power the computers inside. Greenidge Generation in New York has converted a former coal plant i...
New
CommunityNews
Web3’s evolution: From privacy dreams to blockchain’s financial reality. How does cryptography fit in?
New

Other popular topics Top

PragmaticBookshelf
Ruby, Io, Prolog, Scala, Erlang, Clojure, Haskell. With Seven Languages in Seven Weeks, by Bruce A. Tate, you’ll go beyond the syntax—and...
New
PragmaticBookshelf
Rails 7 completely redefines what it means to produce fantastic user experiences and provides a way to achieve all the benefits of single...
New
New
CommunityNews
A Brief Review of the Minisforum V3 AMD Tablet. Update: I have created an awesome-minisforum-v3 GitHub repository to list information fo...
New
AnfaengerAlex
Hello, I’m a beginner in Android development and I’m facing an issue with my project setup. In my build.gradle.kts file, I have the foll...
New
AstonJ
Curious what kind of results others are getting, I think actually prefer the 7B model to the 32B model, not only is it faster but the qua...
New
PragmaticBookshelf
Fight complexity and reclaim the original spirit of agility by learning to simplify how you develop software. The result: a more humane a...
New
PragmaticBookshelf
A concise guide to MySQL 9 database administration, covering fundamental concepts, techniques, and best practices. Neil Smyth MySQL...
New
mindriot
Ok, well here are some thoughts and opinions on some of the ergonomic keyboards I have, I guess like mini review of each that I use enoug...
New
xiji2646-netizen
Woke up to this today: Claude Code’s complete source code exposed via npm source map. Not a snippet. All 512,000 lines. 1,900 TypeScript ...
New