Bitcoin price news latest – Elon Musk pitches BTC 'green mining' plan as cryptocurrency market recovers from HUGE crash

ELON Musk says he met with North American Bitcoin miners who have committed to publishing renewable energy usage in order to address concerns around the crypto-coin's environmental impact.

The price of Bitcoin jumped about 4% yesterday after the billionaire entrepreneur tweeted that he was having active discussions regarding the sustainability of the digital coin.

The Tesla founder tweeted: "Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising."

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

  • Joseph Gamp

    CRYPTOCURRENCY NOVICE GOT £185,000 BITCOIN IN HIS ACCOUNT BY MISTAKE

    A NOVICE crypto investor has mistakenly received £185,000 worth of Bitcoin after trading platform BlockFi sent hundreds of users incorrect promotional payments.

    Crypto lender and trading platform BlockFi has admitted it made incorrect transfers to around 100 investors and has asked for the money back.

    Read more here.

  • [email protected]

    HOW HAS BITCOIN’S PRICE CHANGED THIS YEAR?

    Last year, the currency was around the $23,000 mark before it moved up to around $36,000 in January this year.

    Then in February the cryptocurrency soared to a new high of $50,000.

    In March, the currency climbed up further to $61,742. It then soared above $62,000 at the beginning of April before slumping again to around $42,000.

    This month the cryptocurrency has fallen back to below $40,000 after Elon Musk withdrew his support for the currency and Beijing announced its ban.

    Tesla boss Elon Musk had previously said his car firm had bought $1.5billion of Bitcoin and said his business would accept them as payment for its cars.

  • [email protected]

    BITCOIN JUMPS 4% ON MONDAY – THANKS TO ANOTHER ELON MUSK TWEET

    The price of bitcoin jumped about 4% Monday afternoon after Tesla CEO Elon Musk tweeted that he was having active discussions regarding the sustainability of the digital coin.

    The coin was trading around $38,074, according to Coindesk, when Musk tweeted the following around 3:42 ET.

    “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising,” Musk said on Twitter.

  • [email protected]

    CONTINUED – BAD DEAL

    "Jia says that she bought about 80 bucks worth of bitcoin for this drug purchase, and she knows that there was bitcoin left over," said host Alex Goldman.

    "But, in the 6 years since the original purchase, she has totally forgotten what happened to the bitcoin."

    Today – the 17.5 coins she purchased at the time are now worth £456,253.

    Thinking she could be sitting on a small fortune, the Super Tech Support team on the show put their heads together to try and track down her missing riches, which was worth around £200,000 at the time.

    However, what they found was she had spent nearly all of her Bitcoin buying drugs on Dark Web marketplace Silk Road.

  • caroline.mo[email protected]

    U.S. WRITER HORRIFIED AS SHE DISCOVERS SHE'S SPENT A BITCOIN FORTUNE ON DRUGS

    An author was horrified to find out she spent nearly £500,000 worth of Bitcoin buying drugs on dark web.

    Bitcoin continues to fluctuate in price as the volatile cryptocurrency last week plunged to just 50% of its record high – hitting lows of just £21,000.

    Ms Tolentino, 32, a staff writer for New Yorker and a published author, revealed her own Bitcoin horror story when appearing on the Reply All tech podcast in 2018.

    She contacted the show as she remembered buying around £50 ($80) worth of Bitcoin in 2012 while exploring the Dark Web – but wasn't sure what had happened to her stash after changing laptops.

    Jia Tolentino spent her bitcoins in 2012 CREDIT: Getty
  • [email protected]

    DID YOU TRY PASSWORD?

    Bitcoin trader Stefan Thomas lost almost £200million worth of the crypto because he forgot his password – saying the blunder left him feeling like a “complete idiot”.

    The devastated German felt the sting as a simple slip of the mind meant he lost access to the 7,002 coins – which are now worth £189,905,495.

    Thomas is just one of the many Bitcoin traders who have seen their fortunes go missing – with an estimated £100billion worth of the highly volatile cryptocurrency now left stranded and inaccessible in the ether online.

    He realised he lost the password around 10 years ago when the coins were worth around £100,000 – and he has been left helplessly watching from the sidelines as his missing fortune swelled by almost 19,900 per cent.

  • [email protected]

    CRYPTOCURRENCY NOVICE GOT £185,000 BITCOIN IN HIS ACCOUNT BY MISTAKE

    A NOVICE crypto investor has mistakenly received £185,000 worth of Bitcoin after trading platform BlockFi sent hundreds of users incorrect promotional payments.

    Crypto lender and trading platform BlockFi has admitted it made incorrect transfers to around 100 investors and has asked for the money back.

    Read more here.

  • [email protected]

    MAIN RISKS OF CRYPTO INVESTMENTS

    • Consumer protection
    • Price volatility
    • Product complexity
    • Charges and fees
    • Marketing materials

    CRYPTOCURRENCY NOVICE GOT £185,000 BITCOIN IN HIS ACCOUNT BY MISTAKE

    A NOVICE crypto investor has mistakenly received £185,000 worth of Bitcoin after trading platform BlockFi sent hundreds of users incorrect promotional payments.

    Crypto lender and trading platform BlockFi has admitted it made incorrect transfers to around 100 investors and has asked for the money back.

    Read more here.

    • [email protected]

      WATCH: WHY ELON MUSK IS SO SIGNIFICANT TO BITCOIN MARKETS.

      Elon Musk has huge influence over the crypto market as he announces he will no longer accept Bitcoin for Tesla products

    • [email protected]

      EXPLAINED: WHAT IS HUMMINGBIRD FINANCE?

      Hummingbird Finance is a new cryptocurrency token, which launched in April 2021.It’s a smart contract, or program, built on the Binance Smart Chain blockchain network.

      Blockchain technology is at the heart of most cryptocurrencies, including Bitcoin. It can seem complicated, but it’s a kind of database used to record transactions.

      Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, told The Sun: “Hummingbird’s founders promise to use proceeds from the token to help finance charities to protect the species in the wild and spread awareness.

      “But this promise can’t easily be verified, and the way the token works rewards holders for not selling their tokens, and taxing those who do.

      “That raises suspicions of an aim to simply drive up the price on a wave of speculation and so traders would be wise to treat the token with extreme caution.”

    • [email protected]

      HOW DOES BITCOIN GROWTH COMPARE TO STOCKMARKET INVESTING?

      Bitcoin’s value has grown by 723% over the past year and 181.2% over five years, according to data from DIY investment platform Interactive Investor.

      In contrast, the next best performing asset over the past year is emerging market shares, which are up 42.3%.

      Developed market shares are up 14.3% over five years.

      On paper that makes Bitcoin a higher performing asset than other investments.

    • [email protected]

      EXPLAINED: WHAT IS XRP?

      XRP is form of digital currency that can be used on the Ripple network. It can either be transferred between individuals or banks.

      For example, if you need to send euros to someone who uses dollars, the Ripple network would convert this into XRP. The key difference between the two is that XRP is a coin, while Ripple is a network that allows the transfer of money.

      The founders of Ripple created XPR before the company Ripple existed. 

      Ripple was originally founded in California in September 2012 as Newcoin, Inc. before renaming itself Opencoin, Inc. the month after.

      In 2013, Opencoin Inc. was renamed Ripple Labs Inc., which was reincorporated as a Delaware corporation in 2014. XRP has been used as a method of currency transfer through the network since 2012.

    • [email protected]

      DID YOU TRY PASSWORD?

      Bitcoin trader Stefan Thomas lost almost £200million worth of the crypto because he forgot his password – saying the blunder left him feeling like a "complete idiot".

      The devastated German felt the sting as a simple slip of the mind meant he lost access to the 7,002 coins – which are now worth £189,905,495.

      Thomas is just one of the many Bitcoin traders who have seen their fortunes go missing – with an estimated £100billion worth of the highly volatile cryptocurrency now left stranded and inaccessible in the ether online.

      He realised he lost the password around 10 years ago when the coins were worth around £100,000 – and he has been left helplessly watching from the sidelines as his missing fortune swelled by almost 19,900 per cent.

    • [email protected]

      HOW THE VALUE OF BITCOIN HAS CHANGED OVER THE YEARS

      The value of Bitcoin has fluctuated since it was launched in 2009.

      • 2009-2011: One Bitcoin was equal to about one US dollar
      • 2013: Bitcoin rises upward to $1,242
      • 2014: Bitcoin falls to $530
      • 2017: Bitcoin rose to $13,800 by the end of the year
      • 2018: Price dropped to around $6,000 before halving again to around $3,000
      • 2020: Started at $5,000 before ending the year around $28,000
      • 2021 January: Bitcoin around $36,000
      • February: Bitcoin around $50,000
      • March: Bitcoin around $60,000
      • April: Bitcoin soaring above $62,000
      • May: Bitcoin tumbles to $39,790
      • [email protected]

        WILL THE CRYPTOMARKET RECOVER?

        Cryptocurrency markets went down dramatically wiping billions from their value.

        Bitcoin and Ethereum prices plummeted to their lowest since last year after months of record highs for the digital coins, highlighting just how unpredictable they are according to experts.

        Read more here.

      • [email protected]

        HOW DO I BUY BITCOIN AND WHY IS THE PRICE FALLING?

        Several marketplaces called “Bitcoin exchanges” allow people to buy or sell Bitcoins using different currencies.

        People can also send Bitcoins to each other using mobile apps or their computers in the same way people send cash digitally.

        The value of Bitcoin, like all currencies, is determined by how much people are willing to exchange it for.

        The value of Bitcoin has fluctuated wildly since it was introduced.

      • [email protected]

        BITCOIN DIVORCES SOAR AS SPOUSES STASH THEIR WEALTH IN CRYPTOCURRENCIES, TOP LAWYER SAYS

        A successful divorce lawyer has said she has seen a five-fold increase in divorce inquiries revolving around cryptocurrency since 2017.

        Nicknamed the Diva of Divorce, Ayesha Vardag told the Telegraph called the usage of crypto wallets to mask wealth as a “cat and mouse game”.

        “It can feel like a cat and mouse game with increasingly sophisticated techniques being used by parties to hide their true wealth during divorce proceedings,” she told the outlet.

        “In the same way that offshore trusts and investments have been used as tools to facilitate hiding assets, Bitcoin and other cryptocurrencies can be used to hide your spouses’ true worth.

        “As cryptocurrencies become more established they will undoubtedly enter mainstream divorce proceedings.”

      • [email protected]

        HOW DOES BITCOIN GROWTH COMPARE TO STOCKMARKET INVESTING?

        Bitcoin’s value has grown by 723% over the past year and 181.2% over five years, according to data from DIY investment platform Interactive Investor.

        In contrast, the next best performing asset over the past year is emerging market shares, which are up 42.3%.

        Developed market shares are up 14.3% over five years.

        On paper that makes Bitcoin a higher performing asset than other investments.

      • [email protected]

        MAIN RISKS OF CRYPTO INVESTMENTS

        • Consumer protection
        • Price volatility
        • Product complexity
        • Charges and fees
        • Marketing materials

         

        BITCOIN JUMPS 4% ON MONDAY – THANKS TO ANOTHER ELON MUSK TWEET

        The price of bitcoin jumped about 4% Monday afternoon after Tesla CEO Elon Musk tweeted that he was having active discussions regarding the sustainability of the digital coin.

        The coin was trading around $38,074, according to Coindesk, when Musk tweeted the following around 3:42 ET.

        “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising,” Musk said on Twitter.

        • [email protected]

          BITCOIN PRICE REMAINS VOLATILE

          The Bitcoin price remained volatile yesterday once again after plummeting over the last two weeks. Bitcoin climbed 17.6% to around 39,539 dollars, according to Coindesk. It was worth nearly 65,000 dollars a month ago.

        • [email protected]

          HOW THE VALUE OF BITCOIN HAS CHANGED OVER THE YEARS

          The value of Bitcoin has fluctuated since it was launched in 2009.

          • 2009-2011: One Bitcoin was equal to about one US dollar
          • 2013: Bitcoin rises upward to $1,242
          • 2014: Bitcoin falls to $530
          • 2017: Bitcoin rose to $13,800 by the end of the year
          • 2018: Price dropped to around $6,000 before halving again to around $3,000
          • 2020: Started at $5,000 before ending the year around $28,000
          • 2021 January: Bitcoin around $36,000
          • February: Bitcoin around $50,000
          • March: Bitcoin around $60,000
          • April: Bitcoin soaring above $62,000
          • May: Bitcoin tumbles to $39,790

           

          HOW DOES BITCOIN WORK?

          To process Bitcoin transactions, a procedure called “mining” must take place, which involves a computer solving a difficult mathematical problem with a 64-digit solution.

          For each problem solved, one block of Bitcoin is processed. In addition, the miner is rewarded with new Bitcoin.

          To compensate for the growing power of computer chips, the difficulty of the puzzles is adjusted to ensure a steady stream of new Bitcoins are produced each day.

          There are currently about 21million Bitcoin tokens in existence. To receive a Bitcoin, a user must have a Bitcoin address – a string of 27-34 letters and numbers – which acts as a kind of virtual postbox.

          These addresses are in turn stored in Bitcoin wallets, which are used to manage savings. The bulk of Bitcoin “mining” is done in China, where energy costs are cheaper than in places like the UK or US.

          CRYPTOCURRENCY NOVICE GOT £185,000 BITCOIN IN HIS ACCOUNT BY MISTAKE

          A NOVICE crypto investor has mistakenly received £185,000 worth of Bitcoin after trading platform BlockFi sent hundreds of users incorrect promotional payments.

          Crypto lender and trading platform BlockFi has admitted it made incorrect transfers to around 100 investors and has asked for the money back.

          Read more here.

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