Bitcoin price news latest – StopElon coin launched to prevent Elon Musk from influencing the cryptocurrency market

A NEW cryptocurrency called StopElon has been launched solely to prevent Elon Musk from influencing the cryptocurrency market.

The token’s website states that it aims “to destroy the biggest market manipulator of them all, ” according to Bezinga.

The outlet reports that StopElon’s plan is to use the capital raised through the project to gain full control of Tesla stock and fire the firm’s CEO.

The founding community of stopelon said: “Elon Musk is infamous for irresponsibly manipulating the cryptocurrency market with his Twitter account.

“He’s toying with people’s portfolio like candy, like the narcissistic billionaire he is and always will be. We say ENOUGH. Hence, we created $STOPELON.”

Read our cryptocurrency live blog below for the very latest updates…

  • Jon Rogers

    WHAT IS BITCOIN?

    Bitcoin got you baffled? Here’s what you need to know:

    • Bitcoin is a virtual currency
    • It’s traded between people without the help of a bank
    • Every transaction is recorded in a public ledger, or “blockchain”
    • Bitcoin is created by mining
    • Mining involves solving difficult maths problems using computer processors
    • Bitcoin can be traded anonymously, which can make it a popular way of funding illegal activities
    • The value of Bitcoin fluctuates wildly
    • Bitcoin is one of many different cryptocurrencies but by far the most popular

    WHAT IS EOS?

    EOS is the crypto token of the EOSIO platform, the latter which is designed to allow developers to build decentralized apps.

    These are digital applications or programs that exist and run on a blockchain or peer to per network of computers instead of a single one.

    The aim is to make it as easy as possible for programmers to embrace blockchain technology.

    The technology is a kind of database used to record transactions and is at the heart of cryptocurrencies such as Bitcoin.

    EOS launched in June 2018, having been developed by the company Block.one.

    CRYPTO MISTAKES

    There are five common mistakes most investors make according to Finance Magnates.

    • Not Identifying Your Investor Profile Before Starting to Put Money into the Game
    • Not Having a Clear and Thorough Plan
    •  Not Knowing What You Are Doing
    • Having No Patience to Deal with the Movements in the Crypto Market
    • Never Diversifying the Portfolio
    • Jon Rogers

      STOPELON

      A new cryptocurrency called StopElon has been launched solely to prevent Elon Musk from influencing the cryptocurrency market.

      The token’s website states that it aims “to destroy the biggest market manipulator of them all, ” according to Bezinga.

      The outlet reports that StopElon’s plan is to use the capital raised through the project to gain full control of Tesla stock and fire the firm’s CEO.

      The founding community of stopelon said: “Elon Musk is infamous for irresponsibly manipulating the cryptocurrency market with his Twitter account.

      “He’s toying with people’s portfolio like candy, like the narcissistic billionaire he is and always will be. We say ENOUGH. Hence, we created $STOPELON.”

    • Jon Rogers

      WHAT IS YEARN FINANCE?

      Yearn Finance is a cryptocurrency, and its coins are referred to as YFIs.

      It’s also a decentralised currency – which is a very complex notion, but essentially aims to disrupt the finance world to enable people to follow and lend in peer-to-peer networks, without needing a bank.

      It was launched in February 2020 according to CoinMarketCap, and was founded by Andre Cronje.

      There is reportedly a fixed supply of YFI tokens. 

      Around 30,000 coins are in circulation.

    • Jon Rogers

      CRYPTOCURRENCIES ARE THE 'POSTER CHILD' FOR SPECULATION IN MARKETS, SAYS 'BOND KING'

      Billionaire "Bond King" Jeff Gundlach said last week that cryptocurrencies represent the speculative fever in financial markets right now.

      The founder and CEO of $135 billion DoubleLine Capital said cryptocurrencies have become "objects of speculation," fueled in part with government stimulus money.

      "A lot of people are just playing with this funny money. And when you give people money that don't need it, which, unfortunately, we've been doing a lot, they feel like they're playing with the house's money," Gundlach said. "So it actually does resemble a casino to them psychologically."

    • Jon Rogers

      ELECTRIC CAR COMPANY JOINS ELON MUSK IN REJECTING BITCOIN

      Fisker Inc has joined Elon Musk in refusing to accept Bitcoin as payment for their vehicles.

      Henrik Fisker, CEO of the Los Angeles-based company, said he will not invest in Bitcoin or accept the cryptocurrency as payment.

      He didn't rule out future use of a cryptocurrency, but told CNBC that Bitcoin isn't a "sustainable solution," reports Newsweek.

    • Jon Rogers

      HOW MUCH IS POLYGON WORTH?

      The value of Polygon is currently sitting at $2.13, down from its highest ever of $2.18 earlier today, according to CoinMarketCap.

      At the time of writing, the price is up by 29.60% over 24 hours.

      In comparison, the Polygon token was worth just $0.33 on April 23.

      Polygon is said to have benefited after the Tesla founder Elon Musk announced the firm will stop accepting Bitcoin payments.

    • Jon Rogers

      HOW RISKY ARE CRYPTOCURRENCIES?

      Investing in cryptocurrencies is essentially gambling and there are no guarantees that you will see what you pay in go up in value.

      Cryptocurrencies are VERY high risk and a speculative investment, with limited track records and no underlying value.

      There is also no guarantee that you can convert crypto assests back into cash, as it may depend on the demand and supply in the existing market. 

      Cryptocurrency firms aren't regulated in the way that other financial firms are, meaning you won't have any protection if things go wrong.

      Plus, newer cryptocurrencies are always riskier than those that have been around longer, such as Bitcoin, and make you more open to scams.

    • Jon Rogers

      WHAT IS POLYGON?

      Cryptocurrency Polygon has increased in value in recent days – and it's currently up by 30 per cent over the past 24 hours.

      Polygon (MATIC) is an Ethereum token that powers the Polygon Network.

      This aims to provide faster and cheaper transactions on the Ethereum blockchain and to make the latter a multi-chain system.

      Polygon, originally known as the Matic Network, launched in 2017.

      It was founded by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic.

    • Jon Rogers

      BITCOIN EXPECTED TO HOLD $40K LEVEL

      Bitcoin is expected to hold its $40,000 level before rising once again after a period of consolidation, an expert has predicted.

      Galaxy Digital CEO Mike Novogratz told CNBC's Squawk Box: "I think $40,000 should hold… we'll consolidate then we'll have another leg up."

      Novogratz claimed he sees more institutions moving into Bitcoin, adding that he’s no longer “the lone Wall Street guy”.

    • Jon Rogers

      WHY IS BITCOIN BAD FOR THE ENVIRONMENT?

      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.

      The Centre for Alternative Finance has estimated that Bitcoin now accounts for 0.59% of global electricity production.

      That may seem like a small number but it’s enough energy to keep kettles in the UK boiling for 33 years.

      Reports suggest most Bitcoin mining happens in China and is fuelled by burning coal in the Xinjiang region.

    • Jon Rogers

      NEW ‘STOPELON’ COIN STARTED TO PREVENT TESLA FOUNDER FROM INFLUENCING CRYPTOCURRENCY MARKET

      A new cryptocurrency called StopElon has been launched solely to prevent Elon Musk from influencing the cryptocurrency market.

      The token’s website states that it aims “to destroy the biggest market manipulator of them all, ” according to Bezinga.

      The outlet reports that StopElon’s plan is to use the capital raised through the project to gain full control of Tesla stock and fire the firm’s CEO.

      The founding community of stopelon said: “Elon Musk is infamous for irresponsibly manipulating the cryptocurrency market with his Twitter account.

      “He’s toying with people’s portfolio like candy, like the narcissistic billionaire he is and always will be. We say ENOUGH. Hence, we created $STOPELON.”

    • Jon Rogers

      XRP CONTINUES TO RISE

      While Bitcoin has been struggling recently, rival XRP has continued to see its price rise.

      It gained 10 per cent on Tuesday and was seen trading above $1.60.

      Just one month ago XRP price was at $1.32, equating to a rise of more than 20 per cent.

    • Jon Rogers

      BITCOIN PRICE WILL BOUNCE BACK SAY ANALYSTS

      Bitcoin's price dropped over 30 per cent in a week from $59.3k to $41.9k, according to CoinGecko but analysts believe it will bounce back.

      Analyst Antony Portno, Founder of Traders of Crypto bearish on Bitcoin. He mentioned that it is not evident how the recovery of Bitcoin could take place.

      Forex Live analyst Adam Button is also bearish on BTC, however, specifically not crypto, reports Coin Quora.

      Moreover, Button made a clear view that BTC is not the currency of the future, and it is time all stopped to pretend. Button believes that crypto will recover, and there is a chance for the best crypto to overtake Bitcoin in due time.

    • Jon Rogers

      FACEBOOK TO LAUNCH ITS OWN CRYPTOCURRENCY

      Facebook is to launch its own cryptocurrency called Diem.

      Diem, previously known as LIBRA in 2019, will challenge other competitors in the cryptocurrency market such as Bitcoin, Dogecoin and Ethereum.

      Mark Zuckerberg, the creator of Facebook, stated that users will transfer money just like they send their photos of a party.

      Diem will run a blockchain-based payment system.

    • Jon Rogers

      BITCOIN PRICE 'LOGICAL' – ANALYST

      Bitcoin's current price after heavy falls is "logical," according to a prominent analyst.

      Veteran analyst John Bollinger, creator of the Bollinger bands trading indicator, also called for "calm" after days of volatile trading.

      He wrote in a Twitter message: “~43,000 is what we call a logical level for $BTCUSD. It is defined by the January peak and the March trough."

    • Jon Rogers

      LUXURY YACHT FIRM NOW ACCEPTS BITCOIN

      US luxury yacht firm Prime Experiences has said it will now start accepting Bitcoin payments for its services.

      In addition to accepting the leading cryptocurrency as a payment option, Prime Experiences is also looking to tap blockchain technology to provide transactional security.

      Consequently, it will be basing its web and mobile services on blockchain tech, Investing reports.

    • Jon Rogers

      MICROSTRATEGY BUYS $10M WORTH OF BITCOIN

      Business intelligence firm MicroStrategy has scooped up another $10 million worth of Bitcoin.

      The cash amount earned MicroStrategy 229 Bitcoins at an average price of $43,663, the company confirmed on Tuesday in a Form 8-K filing with the United States Securities and Exchange Commission.

      The acquisition came just five days after the business intelligence firm purchased 271 Bitcoins for an average price of $55,387, Coin Telegraph reports.

    • Jon Rogers

      BITCOIN SLUMPS TO LOWEST SINCE FEBRUARY

      Bitcoin, along with other key cryptocurrencies, took a hit in the wake of Bank of China reiterating the digital tokens cannot be used as a form of payment.

      The largest cryptocurrency fell as much as 5.1 per cent to $42,547 in New York, continuing a week-long slide.

      Bitcoin is now at its lowest level since early February, reports Bloomberg.

      “This is the latest chapter of China tightening the noose around crypto,” said Antoni Trenchev, managing partner and co-founder of Nexo in London, a crypto lender.

    • Aliki Kraterou

      LAUNCH OF BITCOIN PIZZA

       

    • Aliki Kraterou

      HOW ARE CRYPTOCURRENCY GAINS TAXED?

      HMRC does not consider cryptocurrency gains to be money or currency. Instead,it has grouped crypto assets into four main categories: exchange tokens, utility tokens, security tokens, and stablecoins.

      Chris Etherington, private client tax partner at RSM UK told: Moneyweek:

      “Individuals resident in the UK are taxed on their gains from cryptocurrencies in much the same way as those making gains on stocks and shares.

      “Every time an individual swaps one coin for another, or indeed any other asset when purchasing goods, they are triggering a disposal for UK capital gains tax purposes.”

    • Aliki Kraterou
      (CoinmarketCap)
    • Aliki Kraterou

      WHAT IS YEARN FINANCE?

      Yearn Finance is a cryptocurrency, and its coins are referred to as YFIs.

      It’s also a decentralised currency – which is a very complex notion, but essentially aims to disrupt the finance world to enable people to follow and lend in peer-to-peer networks, without needing a bank.

      It was launched in February 2020 according to CoinMarketCap, and was founded by Andre Cronje.

      There is reportedly a fixed supply of YFI tokens. 

      Around 30,000 coins are in circulation.

    • Aliki Kraterou

      CHINA BANS CRYPTO

      China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions.

      It also warned investors against speculative crypto trading, according to Reuters.

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