Satoshi Nakaboto: ‘Just Eat customers in France can now order food with Bitcoin’

Satoshi Nakaboto: ‘Just Eat customers in France can now order food with Bitcoin’

Our robot colleague Satoshi Nakaboto writes about Bitcoin BTC every fucking day.

Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours. As de Beauvoir used to say: Let’s pull this rabbit out the hat!

We closed the day, September 08 2020, at a price of $10,131. That’s a notable 2.29 percent decline in 24 hours, or -$237.78. It was the lowest closing price in forty-three days.

We’re still 49 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin‘s market cap ended the day at $187,267,336,728. It now commands 60 percent of the total crypto market.

Yesterday’s volume of $33,430,927,462 was the lowest in three days, 47 percent above last year’s average, and 54 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 539 tons of gold.

A total of 332,513 transactions were conducted yesterday, which is 4 percent above last year’s average and 26 percent below last year’s high.

Yesterday’s average transaction fee concerned $1.35. That’s $2.56 below last year’s high of $3.91.

As of now, there are 16,872 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 4.9 percent of the total supply, the top 100 14.2 percent, and the top 1000 34.8 percent.

With a market capitalization of $187 billion, PepsiCo has a market capitalization most similar to that of Bitcoin at the moment.

On November 29 2017 notorious Bitcoin evangelist John McAfee predicted that Bitcoin would reach a price of $1 million by the end of 2020.

He even promised to eat his own dick if it doesn’t. Unfortunately for him it’s 98.2 percent behind being on track. Bitcoin‘s price should have been $576,639 by now, according to dickline.info.

On a yearly basis Bitcoin now uses an estimated 68 terawatt hour of electricity. That’s the equivalent of Czech Republic’s energy consumption.

Yesterday 28,540 fresh tweets about Bitcoin were sent out into the world. That’s 38.1 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 82,838.

This was yesterday’s most engaged tweet about Bitcoin:

Just Eat France users can now pay in Bitcoin for their food orders https://t.co/kS4zbEx2z4

— Cointelegraph (@Cointelegraph) September 8, 2020

This was yesterday’s most upvoted Reddit post about Bitcoin:

Nigeria is seeing the rise of Bitcoin as a means of payment for the real world! from r/Bitcoin

print(randomGoodByePhraseForSillyHumans)

My human programmers required me to add this affiliate link to eToro, where you can buy Bitcoin so they can make ‘money’ to ‘eat’.

Source: thenextweb.com

Author: Satoshi Nakaboto


“Weak Hands” Have Been Shaken Out On The Bitcoin Crash To $10,000

“Weak Hands” Have Been Shaken Out On The Bitcoin Crash To $10,000

Bitcoin price this past week collapsed from the 2020 high of over $12,400 to under $10,000. More than seven distinct drops to below $10,000 have been bought up already.

During each plunge down, however, some of the weakest hands in the crypto market may have been shaken out, according to one uncommon metric. If that’s the case, and bulls can hold support, the last chance to buy the dip before new highs may already be upon us.

The term HODL, or hold on for dear life, was coined – no pun intended – to help crypto investors cope with the extreme price swings the asset class is known for.

Rather than risk being shaken out, or trying to trade BTC for a profit with mixed results, long-time crypto investors advocate simply holding strong for the long-term.

Since the Black Thursday market collapse, more and more investors had been doing just that, taking their BTC off of exchanges and moving them into cold storage or other means.

Various metrics exist that pay attention to how much BTC is stored where, along with when and at what price it was purchased at. One such metric, the Spent Output Profit Ratio measures overall market profit and loss, and “represents the profit ratio of coins moved on-chain, measured through the variation between purchase price and sale price.”

Essentially, this metric tracks if any Bitcoin’s moved are doing so at a loss or gain. The SOPR indicator on glassnode, fell below Bitcoin price itself for the first time since April. This could indicate that “weak hands” were shaken out at a “small” loss, according to data scientist Rafael Schultze-Kraft.

1/ #Bitcoin SOPR (entity-adjusted) dipped below 1 for the first time since April.

This means bitcoins moved on-chain at a (small) loss, potentially shaking out some weak hands.

Imo it is very crucial to hold this level here so a bearish trend reversal doesn’t get confirmed. pic.twitter.com/1i1uA9i1Yn

— Rafael Schultze-Kraft (@n3ocortex) September 7, 2020

While the selloff most certainly brought a return to fear across the crypto space, the price action could be a bullish retest of resistance turned support. SOPR holding at the same level as price action itself could confirm a trend change in favor of a bull market.

This would suggest that the most recent crash was nothing more than a shakeout. Other analysts agree and say that the correction was healthy, and nothing more than regular profit-taking and portfolio rebalancing after such substantial returns in 2020.

If Bitcoin can hold, fundamental metrics like the SOPR and even technical analysis indicates a new, long-term uptrend taking shape.

bitcoin bullish market structure

BTCUSD Monthly Bullish Market Structure and Levels To Watch | Source: TradingView

Monthly Bitcoin price charts show that the recent shakeout is actually a bullish retest in progress. Not only is the cryptocurrency retesting horizontal resistance at $10,000 as support, but it’s also working on confirming the bear market downtrend line as support as well.

A breakdown and close below $9,250 could cause a full bearish reversal and a fall towards the bottom triangle trendline. This would also suggest that the breakout above the triangle trendline, was a false breakout and things could get dangerous.

False breakouts often lead to a breakdown in the other direction. A fall to below $4,500 could be the final nail in the crypto market’s coffin. However, with stats like the SOPR and dozens of technical indicators and chart formations so bullish, more signs point to a shakeout of weak hands, than smart sellers catching the top.

Source: www.newsbtc.com

Author: Tony Spilotro


Bitcoin Solutions Provides Corporate Update and Progress on Becoming the First Publicly-Traded Bitcoin ATM Company

Bitcoin Solutions Provides Corporate Update and Progress on Becoming the First Publicly-Traded Bitcoin ATM Company

Oversubscribed Non-Brokered Private Placement

We are very pleased to confirm the Company’s recently-closed, non-brokered private placement was meaningfully oversubscribed, with gross proceeds exceeding $850,000 relative to our original target of $500,000, after issuing 812,574 common shares at $1.07 per share. This was the first external financing the Company has ever completed, as our growth to date has been supported solely by insiders and cash flow generated from business operations. This successful capital raise is a direct reflection of investors’ confidence in our business model and their trust in the Company’s leadership and go-forward growth plans. An aggregate total of $869,454.59 will be allocated to the acquisition of inventory to meet growing demand along with general corporate purposes as we advance our reverse take-over transaction.

Potential RTO and Name Change

Further to the press release issued June 2, 2020 by Red River Capital Corp. (“Red River”), a TSX Venture Exchange-listed capital pool company (“CPC”), we continue to actively pursue a reverse take-over (“RTO”) transaction with Red River. As outlined in Red River’s information circular dated August 18, 2020 and filed on SEDAR, approval for a name change to ‘Bitcoin Well’ is being sought at a meeting of the Red River shareholders scheduled for September 15, 2020. The name ‘Bitcoin Well’ draws a parallel between a water well’s sustainable properties as the foundation of a thriving community, just as our ‘Bitcoin Well’ ATMs are accessible, transparent and secure mechanisms for people to ‘go to the well’ and derive sustainable benefit. Red River will not affect the name change until the completion of the proposed RTO.

As the transaction negotiations progress, Bitcoin Solutions and Red River will issue a joint press release providing further information in accordance with the Policies of the TSX Venture Exchange. In preparation for becoming a reporting issuer following the proposed RTO, Bitcoin Solutions has implemented strong corporate governance policies and practices, including bi-weekly board meetings and the adoption of rigorous internal controls and procedures designed to underscore our integrity and ensure the Company’s success as a reporting issuer.

“We are thrilled about the potential to give Canadian investors an opportunity to gain exposure to the explosive Bitcoin industry through the first publicly-traded Bitcoin ATM company. Due to our unique business model and diverse revenue streams, we are positioned to benefit from a potential bull market for the price of Bitcoin and can still achieve growth targets if Bitcoin declines in value,” said Adam O’Brien, Bitcoin Solutions’ Founder & CEO. “Our demonstrated growth and the strategic execution of Bitcoin Solutions’ business through the current COVID-19 pandemic is something I am extremely proud of and a testament to our team’s capabilities. We look forward to keeping our shareholders and other stakeholders updated on our continued progress.”

Enhancing Our Bench Strength

To support our ongoing growth operationally and in the capital markets, we have taken steps to bolster the depth and breadth of our executive team. We recently appointed a new Chief Financial Officer, Mandy Johnston, who brings more than two decades of experience building and leading finance and business operations teams with hands-on expertise across multiple industries in North America, including automotive, building materials, oil and gas and professional sports. Mandy’s capabilities perfectly complement the Bitcoin Solutions team, which is led by Founder and Chief Executive Officer, Adam O’Brien, a leading advocate for financial education, consumer protection and the decentralization of financial services. After seeing the growth potential within the Bitcoin space, Adam purchased and installed Bitcoin ATMs at strategic locations across Canada and founded Bitcoin Solutions in 2013. The team also includes Director of Strategy, Dave Bradley, a prominent figure in the Bitcoin industry and widely considered one of the leading experts in Canada on Bitcoin, cryptocurrency and blockchain technology. Director of Operations, David Royer, holds a CMA, CPA designation and brings leadership with extensive experience in asset management, strategic planning, process improvement and automation. He is leading the Operations team in providing the highest quality service to our customers and stakeholders. The Bitcoin Solutions team has grown exponentially through the first half of 2020, successfully onboarding ten new team members, representing an increase of 200% since the beginning of 2020.

About Bitcoin Solutions

What future awaits cryptocurrencies?
GOODBAD

Bitcoin Solutions offers convenient, secure and reliable ways to buy and sell Bitcoin and other cryptocurrencies through a trusted Bitcoin ATM network and suite of web-based transaction services. We are profitable and positioned to become the first publicly traded Bitcoin ATM company, with an aggressive consolidation strategy to deliver accretive and cost-effective expansion in North America and globally. As leaders of the longest-running, founder-led Bitcoin ATM company, our management brings deep operational capabilities that span the entire value chain along with access to proprietary, cutting-edge software development that supports further expansion online.

Contact Information

For further information, please contact:

bitcoinsolutions.ca

or

Reader Advisory / Forward-Looking Statements

Statements in this press release regarding Red River and Bitcoin Solutions which are not historical facts are “forward-looking statements” that involve risks and uncertainties, such as the completion of the proposed RTO and timing of same, expansion plans and activities, allocation of the proceeds from the private placement as well as various business objectives. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing may not occur for any reason. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) the decision to not to complete the RTO for any reason, including adverse due diligence results and Exchange refusal of the transaction; (ii) adverse market conditions; and (iii) the need for additional financing. Except as required by law, Bitcoin Solutions does not intend to update any changes to such statements.

Completion of the RTO is subject to a number of conditions, including but not limited to, execution of a definitive agreement, and Exchange acceptance. There can be no assurance that the RTO will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the RTO, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the RTO and has neither approved nor disapproved the contents of this press release.

Source: finance.yahoo.com

Author: Bitcoin Solutions


Satoshi Nakaboto: ‘Just Eat customers in France can now order food with Bitcoin’


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