Happy 2020 Bitcoin Halving everyone!
Yesterday, the third Bitcoin Halving took place. This is an event that occurs every 210,000 blocks, which is roughly every four years. What happens is that the block reward given to Bitcoin miners for uncovering a block (i.e. a file that records the most recent Bitcoin transactions) is cut in half. A block is mined approximately every ten minutes.
When the Bitcoin network kicked off in January 2009, the reward for mining a block was 50 Bitcoin. The first Halving in 2012 saw the reward cut to 25 Bitcoin per block. In 2016, the second Halving reduced that to 12.5, and yesterday's Halving, number 3, dropped it to 6.25 Bitcoin.
Unlike government backed money, where the supply is increased every time more is printed, Bitcoin is scarce and its supply capped at 21 million. At the time of writing, there are only 2,623,575 Bitcoin yet to be mined.
Just four more years until the next Halving ... and what a four years it is set to be! If the last four years in Bitcoin are anything to go by, we're set for a fascinating ride. Are you on board?
Bitcoin is back above $10,000 for the first time since September 23rd 2019, when it dropped below that point after a surge beyond 12k.
$10,000 is a strong psychological price level for those on both sides of the market. It instills confidence in holders of Bitcoin, while creating a fear of missing out for those yet acquire some.
If Bitcoin can spend time consolidating above 10k, it will build a foundation from which to launch to much higher prices. Bitcoin to the Moon!
Since my recent article, MimbleWimble Coin Delivering High Returns for Bitcoin Holders, the price of MWC has continued to soar, and is making a push towards 0.001 BTC per coin. To coincide with this stunning performance, a range of cool MWC merchandise was launched today.
The merch includes a huge variety of clothing items, available in many colors, styles and sizes. Other product lines are stickers, phone and tablet cases &skins, mugs, tote bags, clocks, pillows, prints, posters, coasters and notebooks... plus even more.
So step up your crypto swagger and click here to check out the MWC Merch Store.
Want to know more about MWC? Visit the official website at MWC.mw
On his recent trip to Australia, I had the privilege of meeting Adam Meister aka 'The Bitcoin Meister'. Adam has a popular YouTube channel where he does a live show every day. Five days a week, he presents 'The 1 Bitcoin Show' where viewers can learn the latest happenings in the Bitcoin space. On Fridays, he hosts a wide variety of knowledgeable Bitcoiner guests on his 'This Week in Bitcoin' show. For a change of pace, on Saturday, Adam shifts the focus to other topics he is passionate about in 'The Beyond Bitcoin Show'.
Those familiar with Adam's shows will know that he is super energetic and overflowing with enthusiasm for Bitcoin, health and fitness, travel and life in general. Spending the morning chatting with him in person, I found that who he is on screen, he is in life. Adam practices what he preaches, and has a wealth of fascinating Bitcoin knowledge and stories to share from his travels to many countries around the globe.
Adam's business savvy, exceptional self discipline and 'buy and hold' Bitcoin strategy, have enabled him to live outside of the 'rat race' that many only dream of escaping. He has set things up so that rather than having a fixed address, he travels the world, living in Airbnb accommodation.
He is a very cool guy to hang out with, and he even gave me a Bitcoin t-shirt and a rocking 'old skool' style Bitcoin badge. I certainly hope that our paths will cross again one day.
Be sure to check out Adam's YouTube channel, subscribe and as he famously says, 'Pound that like button!' here.
MimbleWimble Coin (MWC), a recent airdropped cryptocurrency that was acquired for free by Bitcoin holders who signed up for it, is delivering an exceptionally high rate of return. MWC were awarded at a rate of 40.41 per BTC registered. At the time of writing, MWC is trading above 0.0006 BTC.
MWC is a fork of the high profile privacy coin, Grin. Like Grin, and its equally well known counterpart, Beam, MWC utilizes the groundbreaking anonymity features of MimbleWimble technology, however, it also combines this with the power of scarcity, by having a capped supply of just 20 million. This limit on the number of coins, could well be the reason that investors are moving in and pushing up the price.
At the moment, MWC is trading on the Hotbit exchange (which doesn't require KYC) and via OTC on the MWC Discord channel.
For more information about MWC, visit the official website MWC.mw
Just when I thought holding Bitcoin couldn't get any sweeter, I received these Bitcoin chocolate coins for Christmas. Unsurprisingly, they were smoother, creamier, tastier and sweeter than their fiat counterparts.
Someone knows me well ;)
A hardware wallet is an essential device for keeping your Bitcoin secure and giving you complete control over it. If instead, you have your Bitcoin at an exchange, it is certainly not safe and you don't control it, they do.
Exchanges can be hacked, shut down and are susceptible to internal corruption. Just ask anyone who held their Bitcoin at the Mount Gox exchange when it collapsed ... bye, bye Bitcoin.
Having your Bitcoin at an exchange gives them control of your private keys, which means they decide which, if any, hard forks of the blockchain (such as Bitcoin Cash and Bitcoin Gold) they will support. As a Bitcoin holder at the time of a Bitcoin blockchain hard fork, you are entitled to an equivalent quantity of any cryptocurrency that is formed by it, however, that is only if you control your private keys. When Bitcoin is at an exchange, the decision to support a particular hard fork and reward holders is up to them and so you may miss out.
Some of these hard fork created cryptocurrencies have become significantly valuable in their own right. Those who held their Bitcoin private keys on a hardware wallet at the time of these forks were rewarded with a matching number of the new coins for free. These could then be held as an alternate investment, sold for cash or used to obtain more Bitcoin.
Controlling your own private keys, via a hardware wallet, also gives you the ability to claim free airdropped cryptocurrencies that are awarded to Bitcoin holders, like Bitcoin Rhodium, MWC and Hex. Once again, if your Bitcoin is on an exchange, you forego such opportunities.
If your hardware wallet is damaged, lost or stolen, your Bitcoin is still safe, as the thief or finder wouldn't know the information required to access the wallet. You, however, can restore your entire Bitcoin balance on another hardware or software wallet, because you will have the information to be able to do so.
When purchasing a hardware wallet, it is important to do so from the manufacturer or a reputable distributor, such as, CryptoHWWallet or Coinstop. This way you can be assured of receiving a genuine, brand new, untampered with, product. Never buy one on ebay.
Don't leave it any longer. The risk is real. Secure and control your valuable Bitcoin with a hardware wallet today.
Pastor Phil Vollman discovered Bitcoin in 2013, and despite a modest wage and a tight budget, he began accumulating small amounts. Over the next five years of disciplined savings, he managed to amass 14.2 BTC, along with 507 Litecoin.
Now this was no prosperity preacher plan, with dreams of lambos and luxury living. Rather, Phil, hoped to secure the financial future for his wife and children, including an adopted daughter, whom suffers from a disability.
Unfortunately, on July 29 last year, Phil's Bitcoin hopes were dashed when a scammer stole all of his 14.2 BTC and 507 LTC. This was not because he kept his crypto on an exchange that got hacked. In fact, Phil stored his private keys on a Trezor hardware device. However, on this particular day, when plugging the Trezor into his laptop he was prompted to do a firmware update. What Phil didn't realize was, that although the website appeared identical to the official Trezor site, it was a fake, set up by the scammer.
Despite his better judgement, Phil followed the prompt to enter his seed words, which then allowed the thief to transfer away all of the Bitcoin and Litecoin. After so long taking the utmost care with crypto security, one mistake and years of saving and sacrifice were gone. And the reality is that at 68 years of age, with the current price of Bitcoin, there is no way that Phil will be able to acquire that much again. That is unless...
... the crypto community pulls together to help. We did it for Andreas Antonopoulos after Roger Ver questioned his investment choices. Some even did it for Peter Schiff, in an attempt to warm him up towards Bitcoin, despite his net worth already being 70 million dollars. So can we do it for Phil? I believe, yes.
With the backing of members of the crypto, business and Christian communities, a support site and fundraising campaign has been set up to get Phil and his family back to where they were before the thief struck.
A list of those supporting this campaign can be found here.
You can donate and follow the progress of the fundraiser on Tallycoin.
Along with Bitcoin & Litecoin, Pastor Phil is now accepting donations of Bitcoin Rhodium (XRC). The QR codes for Bitcoin, Litecoin & XRC donations are also included below this article.
While I have only touched briefly on it here, Phil and his wife have lived an extraordinary life of serving and caring for others, particulary sick, disabled and unwanted children. You can read their full story, written by published author, F. Daniel Somrack, here: Bagpipes, Bitcoin and Broken Dreams.
In addition to this, crypto YouTuber, Brian the UK Bitcoin Master, hosted a show where Bitcoin storage and security expert, Rocky Palumbo, interviewed Pastor Phil about the loss of his Bitcoin and the events leading up to it. You can view it below and really get a feel for the heart of this man.
Boom! The Bitcoin rocket went parabolic today, blasting from the low 11,000s through $12,000 and onwards, falling just short of $13,000. While the price has dipped slightly since then, BTC is still showing strength and appears to be building for another push higher.
Above, you can see the current move compared to the Bitcoin bull run of 2017. Once again, the angle of the surge is nearly vertical. Strap yourself in, coz it looks like we're in for a thrilling ride. Bitcoin to the Moon... all aboard!
Bitcoin is on a tear today, smashing through $10,000 and now $11,000, with no signs of slowing down. This latest move, means that BTC's value has more than tripled since its yearly low in February.
The mood amongst cryptocurrency enthusiasts is reminiscent of the 2017 bull run, which reached a point where daily $1,000 moves upward were expected. This time, however, the expectation is for a much higher level to be reached. While such gains are by no means a certainty, the belief in a significant new all time high has Bitcoin history on its side.
Will the dream become reality? In my view, yes. Bitcoin to the Moon!
Bitcoin to the Moon is dedicated to following the original cryptocurrency on a journey to its ultimate destination.
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