As a new network offering a free coin that will be magnetizable one day, it could be attracting users that didn’t join other such networks (e.g. Pi network) early on. It seems that some people are really into maximizing their virtual currency holding.
Similar to Pi Network, Bee has a referral marketing model and provides higher digital coins to initial users creating MLM like incentives for users. Based on our qualitative assessment of online comments, people seem to be driven by the desire to make money with very limited effort and are not concerned about their privacy since they already freely provide their data to other companies such as Facebook.
Bee Network has registered over 7 million users worldwide on 2 Mar 2021, the 13th week since our global launch. We have seen that the ranking of countries with most users are constantly changing! This is a good sign which Bee Network has gained momentum and gone viral across different communities in different period.
It does not matter where you are from as we are all the pioneers in making Bee Network great together. Let’s keep it grows and spread the word to the rest of the world!
Institutions buy more Bitcoins per month and there isn’t enough for everyone. As bitcoin is circulating freely right now, blockchain data show, the number has been getting smaller with each passing month over the last year. The pattern suggests that the ever decreasing supply of bitcoin available to buy and sell might lead to a price surge as more investors jump into the cryptocurrency market.
Rafael Schultze – Kraft, Chief Technology Officer of Glassnode, blockchain data company, reported that a total of 26,000 new bitcoins have been minded since 2021, and Grayscale has bought 40,000 bitcoins this year, worth up to 1.5 billion US dollars. At the same time, it means that the speed at which Grayscale buys bitcoins is 154% of the supply of newly mined bitcoin this year.
Fewer bitcoins are becoming available to investors, so as a result, the bitcoin price drives up. A longer period that seen historically, potentially providing more support to bitcoin’s price strength in the long term despite short-term corrections like last week’s 21% retreat.
The followings are the benefits mostly used in BEE:
Majority knows crypto, minority grasped its growth.
Majority burns energy, minority mines the fruit.
Majority invests, minority cashes out.
Majority gambles, minority manipulates.
Decentralized Ecosystem
Gaming experience of Bee Network is built upon an ecosystem of decentralization.
Fair Game For Everyone
Anyone with mobile phone and internet access can join the game upon referral. No supercomputers needed.
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You will be rewarded by active participation in the game of Bee Network.
You are only required to verify one of your Facebook accounts, or phone number, or Apple ID at stage 1. Bee Network will require further verification from you when the project has entered next phases.
Once you have chosen to use a phone number as your signup method, you can only login your Bee account by SMS verification to that phone number. Therefore, if your SIM card is not a fixed mobile phone for some reasons, we suggest you use Facebook or Apple ID as your sign-in method.
If the application still can’t proceed, we recommend you uninstall the application and delete the relevant data on your phone, and download the latest version on App Store or Google Play and launch again. This shall not affect your Bee balance given you have not signed out before a 24-hour session ends.
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Crypto markets are not reeling this week because China is “cracking down on Blockchain.” Tokens have been getting slammed since the summer because most of them are unnecessary, and because the need for coins that may offer some utility is not as imminent as buyers thought it would be. This is most obvious with King Crypto, bitcoin, whose purported use-case as a store of value is not looking very compelling.
The risk-reward in bitcoin has always been an extreme one, which is why its biggest proponents/salespeople assigned astronomic price targets to it. Widespread adoption is an extremely low-probability event with an enormous payoff if the stars align. And let’s be clear: the things that need to happen for the world to turn to bitcoin – complete central bank impotence, widespread currency debasement, falling equity markets and the abandonment of traditional gold – means betting on bitcoin is essentially betting against the house. Hence the “short bankers, long bitcoin” meme. To say bitcoin will offer a 100x return yet also say it’s a highly probabilistic event is inherently contradictory and hugely dishonest.
The market is now realizing this. As the global economic slowdown of the last nine months shows signs of stabilization and the Federal Reserve sees no need for more interest-rate cuts, the case for bitcoin is taking body blows. None of the stories about adoption are turning out, big tech giants from Facebook to Google are doing everything possible to dominate electronic pay and finance, and projects designed to make bitcoin a means of exchange are either slow, fruitless, or both.
In short, the house does not look like it’s in a losing position just yet. And so bitcoin is getting killed. Sure, the U.S. and China could have a major fallout, get into a currency war, and Chinese citizens could rush to crypto as a way to get money out of the system. That’s why bitcoin will never be worthless, and why every investor should watch its price action, but that scenario is looking way, way further away from reality than the cryptoknights had so many believe.
Bitcoin’s violent moves are a factor of the speculative nature described above. Because its probability of success is low, it is closer to a roulette wheel than any traditional asset class. Average people were lured into the bitcoin sales pitch in 2017 when the economy was tearing hot, cash flow was heavy, stocks were churning out huge gains, and people could afford to take a gamble. Why not roll the dice?
Now those buyers are losing faith in their chances of winning, and are using this year’s rally to get out. As the fundamental reason for owning bitcoin as a store of value also loses luster amid a stabilizing economic situation, the true believers may start bailing out too. If it continues, it should be a warning sign to more traditional investors who made a similar bet in gold, and maybe even those who ran to Treasury bonds as a hedge against chaos, too.
I am the Lead Anchor at TD Ameritrade Network, and the host of Morning Trade Live and Market On Close. I co-anchored Bloomberg BusinessWeek on TV and contributed to Bloomberg Markets and What’d You Miss while I was with Bloomberg beginning in June 2014. I also covered U.S. stocks and equity derivatives for Bloomberg News. Prior to that, I was a reporter at The Bond Buyer, primarily covering the sell side of the municipal bond industry, writing stories about bond insurers, underwriters, ratings services, bond counsel and general market trends. Early in my career I covered metropolitan news for the New York Post. I have a bachelor’s degree in materials science and engineering from Cornell University.
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Bitcoin has swung wildly this week, as many had expected it to, with it losing $1,000 per bitcoin a few days ago before suddenly shooting back up earlier today.
The bitcoin price is now at over $9,000 per bitcoin after dropping to lows of almost $7,000 on Thursday–and heading fast towards the psychological $10,000 mark, according to the latest prices from Luxembourg-based exchange Bitstamp.
Elsewhere, other major cryptocurrencies ethereum, litecoin, Ripple’s XRP, and bitcoin cash rallied between 7% and 23%, adding billions to the value of the combined cryptocurrency market.
Many bitcoin and cryptocurrency market analysts pointed to comments made by China’s president President Xi Jinping that the country should “seize the opportunity” of bitcoin’s blockchain technology as the reason behind bitcoin’s rally.
China banned bitcoin and cryptocurrency exchanges in 2017 and some took Xi’s blockchain comments as a sign the country could ease bitcoin and crypto restrictions.
“We must take the blockchain as an important breakthrough for independent innovation of core technologies,” Xi reportedly said, speaking at the 18th collective study of the Political Bureau of the Central Committee in Beijing.
“[We must] clarify the main direction, increase investment, focus on a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.”
However, Xi’s comments, which referred only to blockchain technology and not to bitcoin and cryptocurrencies, might not have been the driver behind bitcoin’s recovery.
Following bitcoin’s sudden drop earlier this week, bitcoin and crypto investors feared the worst wasn’t over the for the market.
Facebook’s chief executive Mark Zuckerberg was savaged by U.S. senators over his plans for a bitcoin rival dubbed libra and crypto investors are fretting there could be a global crackdown on bitcoin and other digital tokens.
Elsewhere, technical data pointed to a so-called “death cross” for bitcoin, while the Fear & Greed Index slumped and a Twitter reading of investor temperature was poor.
This sentiment slump meant investors bet against the bitcoin price, predicting it would move lower.
When the bitcoin price recovered a couple of hundred dollars per bitcoin in just a few minutes, some $150 million worth of short positions on the Seychelles-based BitMEX crypto exchange were liquidated, according to bitcoin and cryptocurrency analytics provider Skew.
The bitcoin price has suddenly surged after a sell-off earlier this week, leaving many bitcoin and … [+]
Coindesk
This triggered what’s known as a “short squeeze,” where an asset rapidly increases in value due to short sellers trying to cover their positions, resulting in buying volume that drives the price up.
I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com. Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.
Why do you think Bitcoin dumped over the weekend? Leave a comment below and share your reasoning! ———————————————————————————————————- ⚡Connect With Me! Blog Posts/Updates/Insights/Thoughts: https://goo.gl/ngBDjd Updates Of Coins Ready To Break Out: https://goo.gl/3ZfehK Public Telegram Group: https://t.me/bullandbearcrypto Twitter.com: http://twitter.com/_bullandbear ———————————————————————————————————- ⚡Support The Channel SUPPORT From As Little As $1 & Get EXCLUSIVE EXTRA’S Patreon: http://patreon.com/bullandbear DONATE BTC – 1BFEFPG6ngis1J8WcoSp72jPAxqsNtmPJ3 ETH – 0x24C9b9555DD741CD39A004b758eC691A0e6Ea0bD LTC – LQnpKsvANZZe9ZoX6eMQpejxgogQs1kGpA DASH – Xi1Z2wVeCRGRtX4PvLUs4C8oVo1c7b22yr SECURE YOUR CRYPTO OFFLINE – Ledger Wallet: Grab A Ledger Hardware Wallet: https://www.ledgerwallet.com/r/df82 JOIN COINBASE – Buy Bitcoin, Ethereum, & Litecoin Buy Bitcoin & Get $10usd FREE by joining COINBASE https://www.coinbase.com/join/54cb9ac… JOIN BINANCE – Buy Your Altcoins Looking to trade altcoins? I recommend BINANCE https://www.binance.com/register.html… JOIN KUCOIN – Get Up And Coming Coins Before They List On Big Exchanges https://www.kucoin.com/#/?r=1g62w TRADING VIEW Want to look at the charts and do technical analysis. I reommend TRADING VIEW http://tradingview.go2cloud.org/aff_c… ———————————————————————————————————- ⚡Disclaimer: Read the Bull & Bear Financial Disclaimer Here: http://www.bullandbearcrypto.com/disc…
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Bitcoin and crypto investors are worried, however, with the Crypto Fear and Greed Index showing “extreme fear,” and earlier this week dropping to a 244-day low last seen when bitcoin crashed to around $3,000.
The fear index hit an all-time high in late June as excitement around Facebook’s plans for its bitcoin rival reached fever pitch but has since dived as regulators signal their dissatisfaction with the social media giant.
“The current regulatory roadblock on Facebook’s plans for its digital token has dimmed down investor sentiment for cryptocurrencies,” said Christel Quek, chief commercial officer at Bolt Global, a cryptocurrency wallet provider and entertainment company.
The fear index is currently showing a reading of 20, but earlier this week dropped as low as 11 after falling sharply throughout August.
Since the index hit its year-to-date lows, the bitcoin price has fallen a further 2%, while the overall cryptocurrency market has seen more than $30 billion wiped from it over the last week.
Some in the bitcoin and cryptocurrency industry pointed out the wider cryptocurrency market has declined along with the bitcoin price.
“Bitcoin and major cryptocurrencies including litecoin, ethereum and Ripple’s XRP have declined [this week], weighed down by concerns of a slowing economy,” Quek added.
The crypto fear index hasn’t been this low since bitcoin was trading just over $3,000 per bitcoin.
The fear index, created by website and software comparison company Alternative.me, calculates the index’s value daily on a scale of 0 to 100 using volatility, market volume, social media, survey, dominance, and trends. Zero means “extreme fear,” while 100 means “extreme greed.”
I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com. Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.