50 Cent now worth $8m

50 Cent has discovered that he is a Bitcoin millionaire, thanks to some long-forgotten album sales. In 2014, he released the album Animal Ambition and became the first artist to accept Bitcoin as payment. The rapper received more than 700 Bitcoins under the deal, but then forgot about the cryptocurrency, according to celebrity newsite TMZ. The hoard is worth $7-$8m, although the currency’s price volatility means that could change fast. In 2014, one Bitcoin was equivalent to about $662, but was worth about $11,200 on Thursday according to Coindesk. “Not…

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Impossible to Invest in Bitcoin – Analyst Says

Bitcoin investors are excited about the potential disruptive force that cryptocurrencies and blockchain technology be in the global payments industry. Unfortunately, that disruptive potential doesn’t necessarily make bitcoin a safe bet for long-term investors. According to Bernstein analyst Inigo Fraser-Jenkins, it is nearly impossible to determine an accurate valuation for bitcoin, which makes the cryptocurrency an extremely risky investment. Fraser-Jenkins also says arguments that bitcoin and cryptocurrencies should be considered a new asset class are flawed. Investors get no cash flow from bitcoin, which makes it impossible to value using…

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stripe is ending support for bitcoin

stripe is ending support for bitcoin in 2014 Stripe became the first major payments company to support Bitcoin payments. Our hope was that Bitcoin could become a universal, decentralized substrate for online transactions and help our customers enable buyers in places that had less credit card penetration or use cases where credit card fees were prohibitive. Over the past year or two, as block size limits have been reached, Bitcoin has evolved to become better-suited to being an asset than being a means of exchange. Given the overall success that…

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