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The Winklevoss twins may have lost A LOT of money on Bitcoin

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With Bitcoin crashing, some cryptocurrency HODLers are hurting. That might include the Winklevoss twins. 

Tyler and Cameron bought 120,000 bitcoins in late 2012 with money from the $65 million payout from their lawsuit against Facebook.

That’s more than $1.32 billion worth of bitcoin at Wednesday evening’s value of about $11,000 per bitcoin. That seems like a lot, but just two days ago a bitcoin was worth $14,000. 

Here’s the chart on Bitcoin since 2012. Up and up and up. 

Bitcoin's value since January 2012.

Bitcoin’s value since January 2012.

Image: coindesk

But then this week, it’s been down, down, down.  Read more…

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The Bitcoin community reacts to crash

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Bitcoin and other cryptocurrencies crashed hard, and many people aren’t taking it well.  

Down from the near-$20,000 highs of early December, Bitcoin plummeted 25 percent on Tuesday to as low as $10,194. This hasn’t gone over so well with those who poured their life savings into cryptocurrency. 

Just how bad is it? Well, at the time of this writing, a post providing the phone number of the U.S. National Suicide Hotline sat at the top of the cryptocurrency Reddit

Image: reddit

Importantly, it’s not just Bitcoin that’s down. Everything from Ether, to Ripple, to Bitcoin Cash, to Litecoin is presently taking a bath. Read more…

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Learn how to invest in cryptocurrencies like Bitcoin

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If we’re to believe every plot point from the movie The Social Network, Mark Zuckerberg allegedly stole the idea for Facebook from the Winklevoss twins and went on to become one of the youngest billionaires ever. Things ended up working out for the Winklevoss brothers, though. They received a $65 million settlement and competed in the 2008 Beijing Olympics. But they still weren’t a member of the prestigious billionaire club. Last month that changed when they finally became billionaires thanks to Bitcoin.  Read more…

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Stop pretending like you understand cryptocurrency and take these online courses

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Most years, December is the time you justify your procrastination by gift shopping, reviewing essential “Best Of” lists, and planning extremely well-deserved holiday vacations. However, in staying true to its persistent weirdness, 2017’s December made cryptocurrency one of the trendiest, most distraction-worthy subjects of the year. While a single bitcoin reached nearly $20,000 in value, many other cryptocurrencies saw similarly optimistic gains, and the news cycle turned towards teenage millionairesLike, what is this world we live in? Read more…

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Bitcoin’s wild 2017 ride continues with a Christmas Day rebound after a record slide

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Slow your roll, bitcoin.

The finicky cryptocurrency has skyrocketed in overall value throughout 2017, but its bumpy December continued in the run-up to Christmas. After posting an all-time high of $19,796 per bitcoin on Dec. 17, the price fell to $11,590 on Dec. 22, according to Coinbase data).

It was the steepest decline of the year, losing more than 40 percent of its peak value to date — a milestone reached just days earlier. The price has been creeping back up since then, and it continues to hover at around $14,000 as of Christmas Day, Dec. 25. Read more…

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Bitcoin Cash skyrockets in value after Coinbase adds support

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Oh, you’re still into Bitcoin? That’s cool. Except Bitcoin Cash is the hot new cryptocurrency now. 

Coinbase, the popular cryptocurrency exchange, announced Tuesday it would add support for Bitcoin Cash. 

No, Bitcoin Cash isn’t new. It arrived on the scene back in August. (Its origin story is kind of complicated — luckily, we’ve got a helpful explainer here.) But the addition of Coinbase support is like a blessing from the Cryptocurrency Pope, and so Bitcoin Cash’s value ascended into the heavens. 

If you happened to have knowledge of Coinbase’s announcement ahead of time, you could have made a pretty penny, which is why the company quickly tried to quell any accusations of insider trading.  Read more…

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Download this: Bitcoin apps are riding high as its price skyrockets

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There’s a new app at the top of the App Store and it’s all because of Bitcoin.

Coinbase, a popular Bitcoin wallet app, is now at the top of Apple’s App Store, unseating Snapchat, Instagram, and YouTube as the most in-demand software. 

That in itself might not be terribly surprising considering the cryptocurrency keeps shattering record after record. But though Coinbase, which also works with other cryptocurrencies, is for now the most popular, it’s far from the only Bitcoin wallet app benefiting from the current boom.

Across the board, Bitcoin-related apps have been more in-demand than ever before. In fact, new numbers from app marketing firm Sensor Tower underscore just how much Bitcoin’s current surge has impacted the wallet apps in the App Store and Google Play. Read more…

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Even Coinbase thinks you should maybe chill for a goddamn minute on Bitcoin

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Bitcoin. It’s pretty great, amirite? But, ya know, could you maybe just chill the fuck out on it for a single goddamn second?

I mean, jeez, this rocket ship is on a one-way trip to the cryptocurrency moon — that much we know for sure — but, what if, and just bear with me here for a second ’cause this is gonna sound crazy, what if it’s not?

Sure, Bitcoin is hitting record highs seemingly every day now, and if there’s one thing spending BTC at dark-web marketplaces has taught me it’s that monumental highs feel like they’ll last forever. But perhaps it’s time to cut our unbridled exuberance with some downers.  Read more…

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