Bitcoin, Ethereum, Polygon, Solana, & Shiba Inu could make for great Christmas presents, as the Reddit crypto surges.
Many platforms such as PayPal and Venmo have made it easy to buy and send crypto, and all you need is an email address or a phone number.
The price of Bitcoin, the biggest cryptocurrency on the market, is now trading at $49,199.47 after hitting a record high of more than $69,000 in November.
Meanwhile, Shiba Inu is up a little over 1 percent in the past 24 hours as of Thursday morning, according to Coinbase.
Plus, in a House Committee on Financial Services hearing focused on cryptocurrencies, Democratic representative Brad Sherman of California said that “the number one threat to cryptocurrency is crypto.”
He continued by saying that “Bitcoin could be displaced by Ether, which could be displaced by Doge, which could be displaced by Hamster Coin,” before adding, “And then there’s Cobra Coin. What could Mongoose Coin do to [Cobra Coin]?”
Since then, several Mongoose Coins have gone live, Decrypt reported.
Cryptocurrencies are highly volatile, meaning their values often make large swings with no notice, as the latest plunge shows.
Read our cryptocurrency live blog for the very latest news and updates…
Apple plans for crypto
Cook continued by saying that although Apple was looking at cryptocurrency technology, it’s “not something we have immediate plans to do.”
An Apple Pay executive said in 2019 that the company sees “long-term potential” in cryptocurrency.
But it seems like crypto fans shouldn’t get excited, because even if Apple does introduce cryptocurrency products or services in the future, it doesn’t seem like it will happen anytime soon.
Apple CEO Tim Cook owns crypto
Apple CEO Tim Cook recently revealed he owns cryptocurrency.
At the New York Times DealBook conference, Cook was asked if he owns Bitcoin or Ethereum and said, “I do. I think it’s reasonable to own it as part of a diversified portfolio,” according to CNBC.
“I’m not giving anyone investment advice by the way,” he noted.
US to stem ‘illicit use’
A recent statement from President Joe Biden read: “Cyber threats can affect every American, every business regardless of size, and every community.”
“That’s why my administration is marshaling a whole-of-nation effort to confront cyber threats.”
The White House signaled that the US will gather 30 other countries to discuss responses to cybercrime.
“This month, the United States will bring together 30 countries to accelerate our cooperation in combatting cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically,” the previous statement read.
Most valuable crypto coins
Cryptocurrency prices hit record highs earlier this year amid interest from high profile individuals such as Elon Musk and more institutional investment in the sector.
The most valuable coins are Bitcoin and Ethereum but there are lots of alternatives or altcoins aiming to benefit from crypto interest.
Values can be volatile though and regulators have warned that investors could lose all their money.
Risks of investing in cryptos, part five
Finally, the truth in marketing materials is a risk in investing in cryptos.
Firms may overstate the returns of products or understate the risks involved.
Risks of investing in cryptos, part four
Another risk of investing are the charges and fees.
Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.
Risks of investing in cryptos, part three
A third risk of investing in cryptocurrencies is product complexity.
The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks.
There is no guarantee that cryptoassets can be converted back into cash.
Converting a cryptoasset back to cash depends on demand and supply existing in the market.
Risks of investing in cryptos, part two
Another risk of investing is price volatility.
Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
Risks of investing in cryptocurrencies
We rounded up five risks of investing in cryptocurrencies.
The first is Consumer protection.
Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.
What is the entire crypto market worth?
Roughly, the entire crypto market is currently worth around $2.6trillion.
The value of the market going forward is likely to fluctuate, as it greatly depends on what cryptos decide to do next.
Risks of Robinhood, part two
For investing individual stocks, make sure you check company reports, Securities and Exchange Commission (SEC) filings, broker notes, and press releases so you can make the best decisions for your money.
Another risk when choosing Robinhood along with other brokers is that they can restrict trading when there’s unusual activity.
In fact, Robinhood faced some outrage earlier this year when it restricted trading on meme stocks including GameStop and AMC.
Risks of Robinhood
When it comes to risks, investing alone is one because you’re not guaranteed to generate a profit and the value of your assets could fall.
If you’re choosing Robinhood so you can trade stocks and cryptocurrencies – then the game gets even riskier.
Cryptocurrencies are not only difficult to understand but even tougher to predict when bearish trends in the market will take place.
For example, cryptocurrency was thriving this year up until Elon Musk said that Tesla was halting the acceptance of payments in Bitcoin.
RIP Mr Goxx: ‘He fell asleep peacefully’
“Mr. Goxx showed no signs of serious illness, besides having some kidney issues as a cause of a professional mite treatment in his early days,” the sad announcement continued.
“While having normal amounts of food until Sunday, he then suddenly refused eating and fell asleep peacefully on Monday morning.”
“For us humans behind Goxx Capital, the situation is hard to grasp and questions about a possible continuance of the project are not relevant to us at the moment (for now, we will leave everything as is),” the statement added.
“Thank you and rest in peace, Max (a.k.a Mr. Goxx). You will be missed, and your memory will live forever on the blockchain.”
R.I.P. Mr Goxx, the crypto-trading hamster
Sadly, Mr Goxx, the crypto-trading hamster, passed away on November 23.
The tragic news was shared on Mr Goxx’s official Twitter account.
“We feared this day like no other and are truly shocked for it to happen just now,” Mr Goxx’s Twitter account tweeted on Wednesday.
“In deep sorrow, we have to announce the loss of our beloved furry friend.”
The account continued: “Being with us as a pet for quite a while, he became famous out of nowhere. Mr. Goxx has brought joy to people all across the globe and reminded us not to take life too seriously.
“He shed light into dark moments of pandemic, inflation and many kinds of trouble.”
Speaking to the BBC, the two 30-something German men behind Mr Goxx the crypto-trading hamster explained that the idea started as a joke.
“We felt that everything keeps getting more expensive these days and building savings is super-hard to achieve with high rents to pay,” they said.
“It seems like most people from our generation see no other chance than throwing a lot of their savings on the crypto market, without having a clue what’s going on there.
“We were joking about whether my hamster would be able to make smarter investment decisions than we humans do.”
The amount to be traded is determined when Goxx runs through one of two “decision tunnels”.
Depending on which tunnel he runs through, the amount he will buy or sell the cryptocurrency changes in 20 euro increments.
All of the data is rigged to a computer that makes the transactions in real-time on Goxx’s behalf.
Crypto-trading hamster, continued
The four-legged financial fiend was not completing transactions himself, of course.
Instead, Goxx’s trading decisions were made inside a camera-rigged “office” attached to his regular cage.
Every day, when he entered the office, a stream was started on Twitch and a tweet was sent out to his followers notifying them that trading had begun.
The hamster then ran on an “intention wheel” that chose one of 30 different cryptocurrencies to trade.
A crypto-trading hamster outperformed market
A hamster in Germany previously traded in cryptocurrencies and consistently outperformed the S&P 500.
The furry animal, called Mr Goxx, was busy working since June, thanks to a specially adapted cage.
He determined which currencies to buy or sell by running on his wheel or walking through one of two tunnels.
Mr Goxx started trading on June 12 this year.
The site states that the page is just for fun and does not offer financial advice.
Why is Bitcoin bad for the environment?
The problem surrounds the amount of energy used to mine a single Bitcoin.
Computers are needed for complex mathematical calculations to put a new Bitcoin into circulation online.
This process is also known as mining.
A lot of energy is needed for Bitcoin mining and some experts are concerned that vast amounts of fossil fuels are being used to create this energy.
Major meme coins, part 2
Another dog meme that has picked up traction this year has been Saitama inu, whose logo appears to feature a wolf surrounding a human face.
“Tokens like Shiba Inu, Dogecoin and newest gainer Saitama are all a part of the evolution of digital finance in their own unique way,” Chris Kline, chief operating officer and co-founder of Bitcoin IRA, recently told The Sun.
Separately, Tiger King is a meme coin that has picked up strong momentum off the past month, which is based on the popular Netflix series.
The major meme coins
The surge of the meme coins this year all started with Dogecoin.
That was then followed by Shiba Inu, which both feature the same dog breed in their logos.
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.”
Both Shiba and Dogecoin have been popular dog meme coins this year.
What are meme coins?
A meme coin typically gains off a social media or an internet-based joke.
It all started with GameStop and AMC earlier this year, when a Reddit mob trolled short-sellers by driving up the prices of those stocks.
The memes then spread over to cryptocurrencies – and there are now a few major ones today.
What is Hbar crypto?
Hashgraph is similar to a blockchain and was created in 2017 by American computer scientist Leemon Baird.
The Hedera Hashgraph system is a distributed ledger built on Hashgraph and was created by Baird along with Mance Harmon.
HBAR is the cryptocurrency of the Hedera Hashgraph.
The company itself explains: “HBAR is the native, energy-efficient cryptocurrency of the Hedera public network.”
What is Ethereum?
Ethereum is a cryptocurrency that was released in 2015. It’s the second largest after Bitcoin.
In fact, some experts believe it has the potential to one day overtake Bitcoin as the dominant coin in the market.
It was founded by eight people, one of which is 27-year-old cryptocurrency “celebrity” Vitalik Buterin.
He recently became the world’s youngest crypto billionaire as Ethereum soared in value.
Ethereum is also a ledger technology – using “blockchain”, like Bitcoin – that companies are using to build new programmes.
Microstrategy spends $414 million on Bitcoin
The business intelligence company led by Michael Saylor revealed in a November 29 Securities and Exchange Commission filing that it bought 7,002 bitcoins between October 1 and November 29.
MicroStrategy reportedly spent $414million on the coins.
The company now has a reported stockpile of 121,044 bitcoin tokens.