Watch Jack Mallers Send $10 To El Salvador Via Twitter’s Lightning Tips

Initially, it was only possible to send money with the help of centralized payment providers, such as Venmo, PayPal and, of course, Square’s Cash App. It is also important to note that India does not recognize Bitcoin as a legal tender. In fact, the country is currently pushing to introduce a number of regulations to the industry in its bid to rein it in whilst pushing for its own Central bank digital currency. While Musk’s latest comments regarding Bitcoin were obviously made in jest, he is known to be somewhat of a fan of cryptocurrency and blockchain. Twitter and Square CEO Jack Dorsey is a Bitcoin believer, but the social network’s CFO has no intention of following the payments firm’s lead by putting corporate dollars into crypto. Dogecoin, the cryptocurrency perhaps most sensitive to Musk’s opinions as he helped to turn the coin started as a joke into a multi-billion dollar market valuation, also fell by more than 10% to around $0.36 on Friday. Here, we asssumed that there was no significant event that could have influenced the price of Dogecoin at the time of Elon Musk’s tweets, and that there is no third variable that caused both Musk to tweet and Dogecoin to rise.

The social media giant Twitter, on Mar 1, announced a $1.25 billion convertible bond offering. Anthony Pompliano now speculates Jack and his team may be preparing to allocate a portion of funds raised to Bitcoin, following MicroStrategy’s route. Of course, the iconic platform is best known as a micro-blogging social network. But it’s quickly evolving into something that’s potentially even more influential and lucrative with the rise of cryptocurrencies. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The company also revealed that it won’t be taking a cut from Tip payments.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Bitcoin and several other cryptocurrencies are still recovering from a crash last month in the wake of that decision and on news of renewed regulatory scrutiny in China. Many crypto specialists have struggled to understand the motives behind his tweets. offers daily e-mail updates about R news and tutorials about learning R and many other topics. The code below gets the relevant data sets from Tiingo using the riingo R package. This requires an API key, but you can download the data from here (for the Tesla re-analysis) and here and here in case you do not want to create an account. “We are aware of a security incident impacting accounts on Twitter. We are investigating and taking steps to fix it. We will update everyone shortly” – via Twitter.


Tweets from unverified accounts showed bitcoin’s value on CoinMarketCap at $799 billion per coin, giving it a market value of $14.7 quintillion. Another tweet showed it trading even higher at $887 billion per coin on Coinbase. A very significant verified profile (@PeterLBrandt) with more than 270k followers, known as a great crypto trader, tweeted some tweets and received a massive number of retweets and likes. This user was talking about the BTC price that he expected to rise until June. Imagine having all these stats for all the crypto currencies tweet chats that are out there. The blockchain makes social media account monetization more fair and secure with the concept of post farming. Mass adoption of cryptocurrency is prevented by the sheer number of platforms needed to manage and grow digital assets. A screenshot posted by Wong shows that the social media giant is now trialing a dedicated tab for collectibles. But this was what happened yesterday via the official Twitter handle of the PM where a hacker shared a post that the flagship digital asset was now a legal tender in the Asian country and that the government had also made investments in the industry. We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

The Elon Effect: How Musk’s Tweets Move Crypto Markets – CoinDesk

The Elon Effect: How Musk’s Tweets Move Crypto Markets.

Posted: Tue, 14 Dec 2021 19:13:01 GMT [source]

The stock rallied anyway, rising nearly 4% on the day to just below $67. Kris Marszalek, CEO of crypto exchange tradeallcrypto, saidthe company is already working on removing CoinMarketCap’s “unreliable price feed” from its product. CoinMarketCap said Tuesday its engineering team was aware of incorrect price information on its site, which seems to have lasted for about an hour. Soon after, it said the team “has deployed a fix, all prices should be accurate.” The data aggregator, which is owned by tradeallcrypto, said there is no evidence suggesting its glitch was caused by an external party, Bloomberg reported. Bitcoin bull run analysis by Tweet BinderWe can see that the tweet amount was high during the bull run and went down drastically when it finished and kept BTC price stable. The quality of the tweets and the profiles that sent them are the most important things to check. China’s National Development and Reform Commission said on Tuesday that it would consider “punitive electricity prices” for some crypto mines in the next stage of its crypto mining crackdown. China stepped up its crackdown on mining in May and declared bitcoin, ether and tether as illegal in the third quarter. The infrastructure bill requires brokers to provide the Internal Revenue Service with information about traders transacting an amount of over $10,000.
We don’t want to make any spoilers about bitcoin price and twitter, but if you keep reading this post you will discover how you can use Twitter to predict the price of bitcoin. Twitter chose to delay the rolling out of its new API in the aftermath of the security issues. Given the importance of social media platforms in communications globally and the history of prior attacks, incidents like the Twitter Hack expose the risks to the stability and integrity of elections, financial markets and national security. The Department has instituted critical cybersecurity standards for global financial institutions that are models for regulators worldwide. The regulation has served as a model for other regulators, including the U.S. Federal Trade Commission (“FTC”), multiple states, and the National Association of Insurance Commissioners (“NAIC”). In 2017, DFS advised the NAIC on its Data Security Model Law, which is based on DFS’s cybersecurity regulation. Treasury Department has urged all states to adopt the model as soon as possible. In 2019, the FTC proposed amendments to its Safeguards Rule under the Gramm-Leach-Bliley Act to include more detailed data security requirements that were expressly based on DFS’s regulation. The Conference of State Bank Supervisors has proposed a Nonbank Model Data Security Law that is also based expressly on DFS’s cybersecurity regulation.
Companies facilitating cryptocurrency transfers should continue to proactively identify and quickly block addresses known to be used by fraudsters. As the Twitter Hack demonstrated, when companies have practices in place to monitor, identify, and quickly block suspect addresses, they can protect their customers from loss. Such efforts are important to building public confidence and trust for this nascent industry. The fourth Cryptocurrency Company, whose parent’s Twitter account was hacked, did not block any addresses because it does not provide wallet services. From July 2019 to June 2020, Chainalysis, a blockchain analysis company, tracked approximately $100 million from victims located in North America lost to cryptocurrency to scammers.

Bityard Integrates 80+ Chainlink Price Feeds For Enhanced Price Accuracy And

Later Tuesday, Coinbase confirmed the issue had been resolved and prices should again reflect the correct market value. Elon Musk championed dogecoin over bitcoin and defended his colorful tweets. We don’t only have to see the number of followers, we also need to take into account the following, the economic market value and the most important one is the economic engagement value. Tweet Binder has introduced maybe the most important field that gives the real value for a user. We use an incredible algorithm that has been presented in a research paper explaining how we reach this value.
btc price twitter
At the end of the project,We have shown that a strong correlation exists between the rise and falls in stock prices with the public sentiments in tweets. After their initial infiltration, the Hackers escalated the Twitter Hack. On July 15, 2020, a 17-year old hacker and his accomplices breached Twitter’s network and seized control of dozens of Twitter accounts assigned to high-profile users. For several hours, the world watched while the Hackers carried out a public cyberattack, by seizing one high-profile account after another and tweeting out a “double your bitcoin” scam. An effective cybersecurity regulation here should go even further than the Department’s regulation. The Department’s regulation, which was drafted with substantial industry input, was carefully designed to be flexible enough to apply to the thousands of companies regulated by the Department, from global corporations to small businesses.

Rather, the Hackers used personal information about the employees to convince them that the Hackers were legitimate and could, therefore, be trusted. While some employees reported the calls to Twitter’s internal fraud monitoring team, at least one employee believed the Hackers’ lies. The Twitter Hack started on the afternoon of July 14, 2020, when one or more Hackers called several Twitter employees and claimed to be calling from the Help Desk in Twitter’s IT department. The Hackers claimed they were responding to a reported problem the employee was having with Twitter’s Virtual Private Network (“VPN”). Since switching to remote working, VPN problems were common at Twitter. The Hackers then tried to direct the employee to a phishing website that looked identical to the legitimate Twitter VPN website and was hosted by a similarly named domain. As the employee entered their credentials into the phishing website, the Hackers would simultaneously enter the information into the real Twitter website. This false log-in generated an MFA notification requesting that the employees authenticate themselves, which some of the employees did. Consistent with its leadership in protecting New Yorkers, the Department is an integral part of the New York State Cybersecurity Advisory Board.

  • Even though the poll favors the crypto market, the market is still unresponsive in the last 24 hours.
  • This is consistent with a recent Senate intelligence report, which found that Russian online influence operations during the 2016 elections were designed to undermine faith in democratic institutions and provoke social discord.
  • Part IV details the Twitter Hack’s impact on the Department’s cryptocurrency licensees and their timely efforts to protect their customers from the fraud.

This could make you crazy if you are doing daily trading or you could use an external bot that could read all this data for you and then trust that the bot will buy or sell in optimal peaks without losing your money. Few companies including Square, Tesla and MicroStrategy have acquired bitcoin as a reserve asset, and widespread corporate adoption remains elusive to date. On Monday, analysts told CoinDesk that bitcoin’s relatively high price volatility is delaying its transition to haven asset from a risk-on or speculative investment. The selling began during early Asia hours after Wall Street Journal quoted social media giant Twitter’s CFO Ned Segal saying that investing cash holdings into crypto assets like bitcoin “doesn’t make sense” right now. Dorsey’s belief in a single global cryptocurrency is not likely to happen. And, as the economist Yanis Varoufakis has pointed out, it would actually be disastrous if bitcoin did replace fiat currencies.

In contrast, the large and globally influential social media companies essentially regulate themselves. There is no dedicated state or federal regulator empowered to ensure adequate cybersecurity practices to prevent fraud, disinformation, and other systemic threats to social media giants. Finally, the success of such oversight will depend on the establishment of an expert agency to oversee designated social media companies. Systemically important financial companies designated by the FSOC are overseen by the Federal Reserve Board, which has a long-established and deep expertise in banking and financial market stability. A regulator for systemically important social media would likewise need deep expertise in areas such as technology, cybersecurity, and disinformation. Read more about Ethereum to Dollar here. This expert regulator could take various forms; it could be a completely new agency or could reside within an established agency or at an existing regulator. An analogue to the FSOC should be established to identify systemically important social media companies.
The poll was said to have involved an audience of about 25,000, with about 60% favoring a move for an all-time high while the remaining population predicts a declining run to $29,000. However, Bitcoin is presently trading close in a declining fashion of about 2.7%, with a price of $46,200 in the last 24 hours. Bitcoin has also seen its dominance figure in the market reduce drastically to 38%, with the entire market cap still locked at $2.3 trillion. Wozniak’s complaint identified that Twitter was able to act within the same day, while he and the other plaintiffs’ requests to Google had never been acted upon. During the incident, Twitter, Inc.’s stock price fell by 4% after the markets closed. By the end of the next day, Twitter, Inc.’s stock price ended at $36.40, down 38 cents, or 0.87%. Had been deposited in one account before the scam messages were removed by Twitter. In addition, full message history data from eight non-verified accounts was also acquired. On Thursday, Musk sent a cryptic tweet that suggested he had broken up with bitcoin, sending the price of the digital asset down about 5% since then. According to JPMorgan’s recent report on the crypto industry, their previous target of $146,000 is for a long time frame and subject to projected fundamental growth.
Bitcoin Exchange
The largest cryptocurrency had struggled to overcome resistance at $44,000, but the Twitter announcement provided some much-needed bullish momentum. Bitcoin hit four-day highs of $45,000 on Sept. 24 as the market digested news that Twitter had enabled BTC tipping. One of the world’s richest men pushed tradeallcrypto to address some issues related to his favorite digital currency. Only a few weeks ago, CEO Zhu Su was blasting ETH on Twitter for high gas fees and accessibility issues. However, investors must remember that Tesla had once announced that it would accept Bitcoin for car purchases, but later it stopped accepting BTC for environmental issues. Let’s not be too excited about the news; otherwise, Dogecoin will also face the same fate. Indeed, Dogecoin is a big achievement, and it holds the potential to be a cross-border currency like Bitcoin. Dogecoin price went up significantly after this announcement on Twitter. Lightning Network-powered Bitcoin payments were then added to Twitter beta in late August. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. A particular champion of bitcoin, he claims it will one day “unite a deeply divided country” behind it, and eventually become the world’s “single currency”. Square accepts payments on its cash app from bitcoin, but no other cryptocurrency. Recently, Square released a white paper for a decentralised bitcoin exchange platform that would appear to freeze out competing cryptocurrencies. Twitter is not the only social media firm attempting to exploit such opportunities. Facebook’s parent company, Meta, has been trying to launch a cryptocurrency that could be sent worldwide via Facebook products, so far to no avail. This move makes more sense for a platform like Facebook, given that it has always offered a patchwork of services, such as video, photo, fan pages, gaming, buying and selling, and so on, compared with Twitter’s straightforward microblogging service. Musk’s tweets were believed to be the main force causing Bitcoin’s overnight collapse from its record high, losing over 30 percent in dollar value in a single week.

Clock Is Ticking On Bitcoin, Cornell University Professor Says It Has ‘no Fundamental Value’

Billionaire investor Paul Tudor Jones and others have called for a period of rising inflation. Jones told CNBC earlier in the week that he owns some bitcoin and sees it as a good inflation hedge. It’s one thing to call for faster inflation, but it may be surprising to some that Dorsey used the word hyperinflation, a condition of rapidly rising prices that can ruin currencies and bring down whole economies. “Hyperinflation is going to change everything,” Dorsey tweeted Friday night. Both platforms said the issue had been resolved, but didn’t explain what caused the incident. “I don’t really think about brand optimization to be frank. That’s obvious from my tweets, which are often self-inflicted wounds.” “How have Tesla and SpaceX succeeded when other companies have far more resources and money than I do? The problem is they can’t hire me.”

Coinbase and CoinMarketCap briefly displayed overblown crypto prices – Markets Insider

Coinbase and CoinMarketCap briefly displayed overblown crypto prices.

Posted: Wed, 15 Dec 2021 14:05:47 GMT [source]

For the best experience, top crypto news at your fingertips and exclusive features download now. The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice. “Musk is so unpredictable, he could easily tweet ‘Bitcoin sucks’ one of these days,” he says. Badoiu says the bot can carry out a trade within seconds of a Musk tweet. For now, the bot is highly technical though future versions could be more accessible. As the U.S. braces for a wave of COVID-19’s Omicron variant, Dr. Oni Blackstock, Health Justice Founder & Executive Director discusses how this latest news could hit everything from travel to live events. “Clearly, there’s a place for crypto. Clearly, it’s winning the race against gold at the moment,” Jones said Wednesday.

The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. Elon Musk exerts an outsize influence on cryptocurrency markets—both through his role as CEO of Tesla, which has made Bitcoin part of its business, and through his colorful Twitter account. Twitter is also integrating bitcoin payments via Strike, which in turn uses the Lightning Network, a blockchain-fueled network that enables real-time transactions. To participate, users in eligible geographies must create a Strike account to be able to receive bitcoin payments. Venture capital is pouring money into cryptocurrencies and payment platforms.
Musk has become perhaps the single biggest driver of crypto price swings in recent months, with the prices of bitcoin and dogecoin especially feeling the effects of his tweets. “Musk is definitely too influential on bitcoin prices,” Kevin Kang, co-founder and principal at BKCoin Capital, told MarketWatch last week. But there are no regulators that have the authority to uniformly regulate social media platforms that operate over the internet, and to address the cybersecurity concerns identified in this Report. In the cryptocurrency space, scammers often rely on virtual versions of tried-and-true schemes. For example, the Hackers deployed a classic impersonation or “trust trading” scam. Similar trust trading scams accounted for about 71% of all self-reported crypto scams since June 2018. Twitter employees also use the internal tools to block or limit distribution of content of specific tweets or from user accounts. Such limitations can be imposed either in response to requests from countries that prohibit content that violates local law, or to enforce violations of the Twitter Rules governing user conduct. The Department is also committed to providing safe, stable, and open markets to those involved in virtual currency business activity (“VCBA”).
Overall, it is both a great tech and crypto stock to buy at 10 times revenue. Expect to see sustained profit and share gains as part of the boom in cryptocurrencies. This is actually Musk’s second interaction with the first-ever cryptocurrency today. Earlier, he seemed more negative on the asset, saying that it’s “almost as bs as fiat money,” but adventurous enough for an S&P 500 company. Twitter doesn’t plan to stop there and is also exploring adding support for non-fungible tokens, which are largely an Ethereum phenomenon. The tradeallcryptomunity is already known for adding NFTs as their profile picture on their Twitter accounts, so this would not be a stretch. Crypto prices looked like they were back to normal on both platforms Wednesday, showing bitcoin trading around $48,200.

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