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Weeks After Losing $25K In Bitcoin, Barstool Sports Founder Dave Portnoy Is Ready To Invest In Crypto Again

Weeks After Losing $25K In Bitcoin, Barstool Sports Founder Dave Portnoy Is Ready To Invest In Crypto Again

Day trader extraordinaire Dave Portnoy is ready to get back to cryptocurrency trading only weeks after incurring a $25,000 loss in bitcoin. The founder of Barstool Sports spoke highly of people in the cryptocurrency industry while stating that he would soon return to the crypto market. ‘My Heart Is Crypto’: Dave Portnoy In the latest […]

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Weeks After Losing $25K In Bitcoin, Barstool Sports Founder Dave Portnoy Is Ready To Invest In Crypto Again

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Day trader extraordinaire Dave Portnoy is ready to get back to cryptocurrency trading only weeks after incurring a $25,000 loss in bitcoin. The founder of Barstool Sports spoke highly of people in the cryptocurrency industry while stating that he would soon return to the crypto market.

‘My Heart Is Crypto’: Dave Portnoy

In the latest episode of the Davey Day Trader Global live stream on September 9, Dave Portnoy talked about the people he has had the pleasure of interacting with during his years of working as an internet personality. For him, the crypto people are the “most enjoyable group of people” he has ever met. This is because he feels that most of these people share the same personality as him.

He further indicated that his “heart is in crypto” and he will be back once he figures it out:

The crypto people, just about the most enjoyable group of people I’ve ever met. They are f*cking crazy. They are crazy on social media, they are crazy on Twitter, they have the same f*cking personality I do, they are gamblers at heart, they slant, they laugh at themselves, they just want to make money. I will be in crypto. My heart is crypto. But I just gotta figure it out. Right now, I’m dealing with the stock market.”

For those who are unaware, Dave Portnoy gained popularity in the crypto community after his high-profile investment last month. He got a crypto crash course from the Winklevoss twins on August 13 where they tried to explain bitcoin — and crypto in general — to him as simply as possible.

Portnoy ended up splashing a good amount of money on bitcoin (BTC) and Chainlink (LINK). Much to his chagrin, a brutal crypto market correction ensued and his coins lost value. On August 21, Portnoy indicated that he was done with cryptocurrency trading after seeing a $25,000 loss.

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In the recent segment, Portnoy also reiterated his love for the LINK marines while dissing the legion of Orchid fans.

“I love the Link Marines. I don’t like the Orchid people. The Orchid people are a joke. Get the Orchid people out of here. But other than that, I like it all.” 

Is Portnoy Really Ready For Bitcoin Trading?

Portnoy’s comments about his possible re-entry into the crypto market came after the crypto-assets posted strong relief rallies on Wednesday, with the dominant crypto bouncing back above $10,300.

The bitcoin price has recently dropped from a high of $12,500 to the $10K level it currently hovers around. Despite the high volatility and the lack of bitcoin trading expertise, Portnoy maintained that he loves the asset class.

“I love crypto. When I think crypto, the juices get flowing, I can feel it in my plums… I realized I don’t know what the fuck I’m doing.”

It is just a matter of time before he figures out crypto and makes another massive investment. Whether he sticks around for the long haul the next time it happens remains to be seen. 


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/weeks-after-losing-25k-in-bitcoin-barstool-sports-founder-dave-portnoy-is-ready-to-invest-in-crypto-again/

Blockchain

Bitcoin Proponents Against Elon Musk Following Heated Dogecoin vs Bitcoin Tweets

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Last week, Elon Musk and Tesla shocked the entire crypto industry following an announcement that the electric car company will no longer accept bitcoin payments for “environmental reasons.”

A Hard Pill For Bitcoin Maximalists

Giving its reasons, Tesla argued that Bitcoin mining operation requires massive energy consumption, which is generated from fossil fuel, especially coal, and as such, causes environmental pollution.

The announcement caused a market dip which saw over $4 billion of both short and long positions liquidated as the entire capitalization lost almost $400 billion in a day.

For Bitcoin maximalists and proponents, Tesla’s decision was a hard pill to swallow, and that was evident in their responses to the electric car company and its CEO.

While the likes of Max Keiser lambasted Musk for his company’s move, noting that it was due to political pressure, others like popular YouTuber Chris Dunn were seen canceling their Tesla Cybertruck orders.


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Adding more fuel to the fire, Musk also responded to a long Twitter thread by Peter McCormack, implying that Bitcoin is not actually decentralized.

Musk Working With Dogecoin Devs

Elon Musk, who named himself the “Dogefather” on SNL, created a Twitter poll, asking his nearly 55 million followers if they want Tesla to integrate DOGE as a payment option.

The poll, which had almost 4 million votes, was favorable for Dogecoin, as more than 75% of the community voted “Yes.”

Following Tesla’s announcement, the billionaire tweeted that he is working closely with Dogecoin developers to improve transaction efficiency, saying that it is “potentially promising.”

Tesla dropping bitcoin as a payment instrument over energy concerns, with the possibility of integrating dogecoin payments, comes as a surprise to bitcoiners since the two cryptocurrencies use a Proof-of-Work (PoW) consensus algorithm and, as such, face the same underlying energy problem.

Elon Musk: Dogecoin Wins Bitcoin

Despite using a PoW algorithm, Elon Musk continues to favor Dogecoin over Bitcoin. Responding to a tweet that covered some of the reasons why Musk easily chose DOGE over BTC, the billionaire CEO agreed that Dogecoin wins Bitcoin in many ways.

Comparing DOGE to BTC, Musk noted that “DOGE speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.”

Max Keiser: Who’s The Bigger Idiot?

As Elon Musk continues his lovey-dovey affair with Dogecoin, Bitcoin proponents continue to criticize the Dogefather.

Following Musk’s comments on Dogecoin today, popular Bitcoin advocate Max Keiser took to his Twitter page to ridicule the Tesla boss while recalling when gold bug Peter Schiff described Bitcoin as “intrinsically worthless” after he lost access to his BTC wallet.

“Who’s the bigger idiot?” Keiser asked.

Aside from Keiser, other Bitcoin proponents such as Michael Saylor replied to Tesla’s CEO:

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/bitcoin-proponents-against-elon-musk-following-heated-dogecoin-vs-bitcoin-tweets/

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Blockchain

ETH Developers Calculated How To Defuse The Difficulty Bomb

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ETH developers calculated how to defuse the difficulty bomb because if they leave it untreated, they will slow down the network as we can see more in our Ethereum news today.

Ethereum’s encoded difficulty bomb is set to explode this summer and James Hancock as well as Tim beiko said that the ETH developers calculated the time needed to delay the bomb and this could the last time the developers need to take that action. Ethereum developers agreed on Friday how to delay the difficulty bomb ad if that is left untreated, the entire network could be slowed down. The difficulty bomb is an old piece of code that makes mining on ETH slower and less profitable over time by increasing the lag between the production of blocks.

Ethereum 2.0 switches the network from proof of work as a way of validating transactions with powerful mining computers to Proo of Stake which rewards the ones that pledge the coins to the network. It takes an average of 13 seconds to mine a block on ETH right now and without delaying the bomb, it could take more than 20 seconds to validate the block by the end of the year. Ethereum developers agreed on how many blocks were quite necessary to delay the bomb until December. The calculation for the delay was proposed by the ETH core developers James Hancock as he said:

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“The bomb’s always there, and we defuse it by turning the blocktime back just for the bomb.”

block time
The block time chart on Etherscan. Annotated by James Hancock for Decrypt.

He later said that the proposal will delay the bomb by 9,700,000 blocks. Tim Beiko, the ETH core developer also said that the developers dismissed a proposal to delay the bomb next spring but that won’t be necessary. The developers expected that by December, the network will update to allow the ETH 1.0 the network that relies on PoW to communicate with ETH 2.0 as the new network relies on PoS and this is known as the Merge:

“If the Merge is ready by December, we won’t need to do anything about the bomb because we will move away from mining entirely.”

If the merge plans remain unimplemented, the Shanghai fork is expected to go live and will delay the bomb once again. The Bomb has been delayed three times so far.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.dcforecasts.com/ethereum-news/eth-developers-calculated-how-to-defuse-the-difficulty-bomb/

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VeChain price prediction: VeChain prepares to move higher?

TL;DR Breakdown VET retests 0.618 Fib retracement level. Closest major resistance at $0.22. Closest support at $0.16. Today’s VeChain price prediction is bullish as the market continues setting higher lows over the past days in preparation for a push to the upside next week.  The overall market trades in the red today as Bitcoin has […]

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TL;DR Breakdown

  • VET retests 0.618 Fib retracement level.
  • Closest major resistance at $0.22.
  • Closest support at $0.16.

Today’s VeChain price prediction is bullish as the market continues setting higher lows over the past days in preparation for a push to the upside next week. 

VeChain price prediction: VeChain prepares to move higher? 1
Cryptocurrency heat map. Source: Coin360

The overall market trades in the red today as Bitcoin has lost almost 2 percent, while Ethereum trades with a 5 percent loss. Solana (SOL) is one of the best performers as it trades with a gain of 15 percent. Alternatively, Polkadot (DOT) is among the worst performers, with a loss of almost 9 percent over the last 24 hours.

VET/USD opened at $0.172 today after a bearish push yesterday. Over the past hours, VET/USD retested the local high at $0.19, from which the market moved lower once again and currently looks to set another higher low.

VeChain price movement in the last 24 hours

The VET/USD price moved in a range of $0.1701 – $0.1925, indicating a moderate amount of volatility. 24 hour trading volume has increased by 9.5 percent, totaling $1.7 billion. The total market cap trades around $15.5 billion, resulting in a market rank of 17th.

VET/USD 4-hour chart – VET consolidates in an increasingly tighter range over the past days

On the 4-hour chart, we can see bulls picking up any further selling pressure around the $0.175 mark, indicating that another slightly higher low will be set.

VeChain price prediction: VeChain prepares to move higher?
VET/USD 4-hour chart. Source: TradingView

Overall the market continues retracing from the $0.25 swing high set on the 7th of May. A total loss of 35 percent was seen over several days, indicating that further selling pressure is likely exhausted.

Currently, the VeChain price action builds a base from which to move higher over the next week. Both a higher low and a lower high were established over the past 24 hours, indicating an increasingly tighter range. Therefore, once VET/USD breaks above the $0.19-$0.195 mark, we expect the market to rapidly move forwards to the next major resistance target around $0.215 – $0.22. From there, bulls will likely pick up momentum and push the market towards the current all-time high resistance around $0.27-$0.28.

Alternatively, Vechain cannot move any higher and breaks below the current local swing lows around $0.17, we should see another push lower over the next 24 hours. In this scenario, VET/USD will likely continue moving lower next week towards the next major support area around $0.12-$0.13.

VeChain Price Prediction: Conclusion 

VeChain price prediction is bullish as the market continues to consolidate in an increasingly tighter range after a sharp drop earlier this week. Therefore, we expect VET/USD to push higher early next week to regain some of the loss.

While waiting for the Vechain price action to reverse, read our guides on other great altcoins – Monero, Ethereum Classic, and Ripple.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/vechain-price-prediction-2021-05-16/

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