Bitcoin
Dr. Luke’s Prescription Songs Company Offers Songwriters Bitcoin As Compensation Option
Dr. Luke‘s publishing company, Prescription Songs, has announced that songwriters will have the ability to receive royalty payments in Bitcoin going forward. The organization took to social media today to announce the groundbreaking move, stating that they are the first publishing company to offer its creators such a compensation option. According to the producer, the idea soon became a no-brainer after multiple creators began inquiring about the possibility of being paid in Bitcoin. The transactions will be conducted by bitcoin payment services provider, Bitpay, according to Digital Music News. “Prescription Songs has always been an industry leader providing the best services to our songwriters, producers and artists,” Dr. Luke said in a statement. “Some of our cre...
Elon Musk Confirms Tesla Now Accepts Payment in Bitcoin
Image sourced from CNBC Telsa CEO, Elon Musk has confirmed that the electric car company will now accept Bitcoin as a form of payment – news that has caused the price of Bitcoin to rise 5%. In a tweet, Musk says “You can now buy a Tesla with Bitcoin” and then goes on to reveal that Tesla is only using internal and open-source software and operates Bitcoin nodes directly. And that Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency. You can now buy a Tesla with Bitcoin — Elon Musk (@elonmusk) March 24, 2021 According to Simon Peters, crypto analyst at eToro, the decision for Tesla to accept Bitcoin as a form of payment “will likely build more momentum for the cryptoasset“. /* custom css */ .tdi_3_65b.td-a-rec-img{ text-align: left; }.tdi_3_65b.td-a-rec-img...
South African Luno Users to Earn Interest on Bitcoin and Ethereum
South African-founded Luno will let customers earn interest on Bitcoin, Ethereum, and USDC – allowing users to earn passive income on their cryptocurrencies. These cryptos are now available in the platforms savings wallet. Users can expect up to 4% interest per annum on Ethereum and 7.6% per annum on USDC. The interest will be earned and paid in cryptocurrency. “Luno research last year showed that over a third of those surveyed (35%) were not earning any interest on their traditional cash savings at all, so growing savings options and making saving simple and accessible is a priority for us,” says Luno Africa GM, Marius Reitz. /* custom css */ .tdi_3_5e5.td-a-rec-img{ text-align: left; }.tdi_3_5e5.td-a-rec-img img{ margin: 0 auto 0 0; } “The same research from last year found 54% are not e...
How to Avoid Bitcoin Scams in South Africa
The bitcoin price surge in these recent months has drawn the interest of investors from different spheres. People want to buy bitcoin and quickly make money off it, which has left many people vulnerable to Ponzi schemes, quick money schemes, and other forms of scams. The hype around bitcoin has given most people the impression of a quick and easy return on their investments. The hype has caused an increase in its adoption, as well as an increase in scams and frauds by people who capitalize on that perception to steal other people’s money. Bitcoin and other cryptocurrencies being decentralized currencies are seen as the future of currency. It is created, stored, and distributed using blockchain which is a decentralized ledger, so unlike fiat currency, it is not regulated by the government. ...
Luno Reaches 7 Million Users Milestone
South African-founded Luno has officially recorded seven million customers (wallets) – just seven weeks after reaching the milestone of six million customers. The business believes this growth is due to the simplicity of its online and mobile platforms, offering education, bank-grade security and self-regulation. It is actively working with regulators and banks to safely increase access to cryptocurrencies. Luno was ranked in the top six cryptocurrency exchanges worldwide in the latest CryptoCompare Exchange Benchmark and also received the top tier AA rating. South Africa is one of Luno’s strongest markets and the appetite for cryptocurrency trades continues to grow. Reaching seven million wallets demonstrates the growing adoption of cryptocurrencies across the globe. /* custom css */...
Elon Musk’s Behaviour Labelled ‘Criminal’ Post Bitcoin Price Surge
Elon Musk has been accused of manipulating the price of Bitcoin by economist Nouriel Roubini. In an interview with CoinDesk, Roubini says that it’s “criminal behaviour” for Musk to take an individual stance on the crypto. This comes after Tesla invested $1.5 billion into the cryptocurrency, causing Bitcoin to reach a record high of $47,000. Commenting on @Tesla‘s $1.5 billion bitcoin buy on #CDTV First Mover this morning, @Nouriel said it’s “criminal behavior” for Elon Musk to take an individual stance on bitcoin to pump up the price before announcing Tesla’s investment. “Talk about a criminal enterprise.” pic.twitter.com/aSHPX5ayHM — CoinDesk (@CoinDesk) February 10, 2021 According to Roubini, the US Securities and Exchange Commission (SEC) should...
Bitcoin Surges to Record Price Post $1.5 Billion Telsa Investment
Bitcoin reached a new high of $47,000 after Tesla invested $1.5 billion into the cryptocurrency. The electric car manufacturer says that it will “begin accepting bitcoin as a form of payment” for its products in the future. In a report, Telsa says “in January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, we may invest a portion of such cash in certain specified alternative reserve assets.” “Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limit...
The African Millennial Population Can’t Get Enough of Bitcoin
Bitcoin for beginners: The how to guide. When the pioneering cryptocurrency Bitcoin came on the scene, many people assumed this currency would be most relevant for people in the developed world. However, African millennials are rapidly upending stereotypes about Bitcoin adopters. Why Bitcoin Is So Attractive For Young Africans Some commentators believe that the recent growth in Bitcoin prices represents the inflation of a fiscal bubble. Still, many other financial experts believe Bitcoin’s exponential rise is here to stay. The incredible explosion of Bitcoin prices has proven difficult to resist for people who are desperate to get into investing. Many thousands of young Africans are currently betting big on Bitcoin. For years now, Africans across the continent have adopted technology with ...
Archbishop Sam Zuga: CBN lacks power to stop cryptocurrency
Archbishop Sam Zuga has reacted to the Central Bank of Nigeria’s (CBN) new order on Cryptocurrency. The Apex bank had directed Deposit Money Banks (DMBs) and other financial institutions to close accounts of persons who are using their systems for cryptocurrency trading. Reacting to the shocking news, Archbishop Sam Zuga, the CEO of one of Africa’s fastest growing currency, Zugacoin expressed his disappointments at the CBN’s decision, while allaying the fears of Zugacoin investors and intending buyers. According to the Cleric’s message obtained from his social media page, “Cryptocurrency doesn’t need bank account to operate or exist.” He wrote, ”RICH PEOPLE WANT THE POOR TO REMAIN POOR. NOT AGAIN! This is is not news. It has been like this since the beginning of Cryptocurrency. But right n...
7 Cryptocurrency Predictions for 2021
Ongoing volatility, further progress on regulations and continued interest from institutional investors can be expected in 2021 – this according to South African cryptocurrency exchange, Luno. “Looking back at our predictions from last year – the Bitcoin halving happened without a hitch and the industry matured as institutional investors entered the market,” says Marius Reitz, GM for Luno Africa. “2020 was a proper stress test with Bitcoin hitting a low of around $5,000 in March and a high of $28,000. The new year is following the same trend with the price already reaching the $40,000 level.” Here’s a closer look at seven cryptocurrency predictions for 2021: /* custom css */ .tdi_3_da6.td-a-rec-img{ text-align: left; }.tdi_3_da6.td-a-rec-img img{ margin: 0 auto 0 0; } 1. Institutional inve...
Iran’s smog, blackouts made worse by power-sapping crypto mining
Outages have been compounded by cryptocurrency mining, which uses banks of high-powered computers. Cities across Iran have been cloaked in thick layers of toxic smog and darkened by blackouts, as the alleged use of low-quality fuel and power-sucking cryptocurrency mining deepen the country’s hardships. Tehran’s Hamshahri newspaper, the country’s most-read daily, ran the headline, “20 Days Living in Smoke,” on Wednesday over a photo of the capital covered in smog. Power plants have been forced to switch to burning low-grade fuel oils to generate electricity because high levels of domestic consumption have led to natural-gas shortages, the semi-official Iranian Students’ News Agency reported. Oil Minister Bijan Namdar Zanganeh denied earlier this week that any of Iran’s power stations are us...
US Democrat Senate wins push stocks higher despite Capitol chaos
Clean sweep by Democrats allows them to enact big-spending policies likely to benefit the economy, investors say. Global stock markets rose and bonds nursed losses on Thursday in anticipation of a big-borrowing and big-spending Democratic administration driving growth, following runoff elections that gave the party control of both houses of the United States Congress. On Wednesday, US Treasury bonds had suffered their steepest selloff in months after Democratic Party victories in two races in the state of Georgia handed them narrow control of the Senate and the power to pass their agenda. US S&P 500 futures rose 0.6 percent and Nasdaq 100 futures rose 0.9 percent as markets seemed to shake off a late fade that pulled Wall Street indexes back from fresh record peaks when chaotic protest...
