Millenials are the biggest backers of bitcoin and cryptocurrencies
As they are the first generation to grow up with cryptocurrencies they seem to have a different attitude towards them.
Millennials already use technology in nearly every aspect of their life from using uber to order a taxi or booking a holiday online. So a currency that can only be used online is far easier for them to digest and use compared to older generations.
15.31 – UPDATE – Bitcoin rises as other cryptos fall
As more of the top 10 listed cryptocurrencies on CoinMarketCap seem to be falling in price, bitcoin is one of the few on the rise.
However, it has still fallen in price as now it is valued at $10,638. Ethereum, Ripple and bitcoin’s two forks, bitcoin cash and litecoin are all down.
Additional reporting by Darius McQuaid
Bitcoin lies at $10,754, after it has been jumping around the $9,000 to $10,000 most of the weekend. Major bitcoin news is the Australian man who allegedly created bitcoin is being sued for $7.2billion.
Craig Wright, the man who claims to have invented bitcoin not Satoshi Nakamoto is being sued by the family of his former business partner.
Mr Wright who allegedly mined bitcoin with Dave Kleiman, a programmer who passed away in 2013 apparently seized Mr Kleiman’s bitcoins following his death.
Mr Kleiman’s brother, Ira does not know exactly how many bitcoin was stolen but says it is likely to be around 300,000 and 1.1million.
The lawsuit said: “It is unclear whether Craig, Dave, and/or both created bitcoin. It is undeniable, however, that Craig and Dave were involved in bitcoin from its inception, and that they both accumulated a vast wealth of bitcoins from 2009 through 2013.”
8.00am MORNING HEADLINES
Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.
Bitcoin is priced at $10,627, a rise of $314 dollars on the day so far.
Apple co-founder Steve Wozniak is reported in the Economic Times in India as claiming that someone stole seven bitcoins from him.
Mr Wozniak told the Times’ Global Business Summit: “I had seven bitcoins stolen from me through fraud.
“Somebody bought them from me online through a credit card and they cancelled the credit card payment. It was that easy. And it was from a stolen credit card number so you can never get it back.”
The American inventor initially bought his coins at $700 each as an experiment, and despite the experience he remains a supporter of the BTC cryptocurrency.
He said: “Bitcoins to me was a currency that was not manipulated by the governments. It is mathematical, it is pure, it can’t be altered,” the ET report.
Updates below throughout the day….
12.11pm – UPDATE – Could BTC hit $11k today
Bitcoin is slowly rising back towards the $11,000 mark, and currently sits at $10,700.
9.59am – UPDATE – 50 Cent backtracks on bitcoin boasts
Rapper 50 Cent has admitted that he did not, in fact, make $8 million in bitcoin by accepting the cryptocurrency as a form of payment for his album Animal Ambition.
In January Mr Cent, real name Curtis James Jackson III, took to Instagram to comment, “I’m so proud of me,” after the coin – worth only $662 at the time – brought home takings now worth between $7 million to $8.5 million, based on the current fluctuating bitcoin valuation.
Mr Cent said: “Not bad for a kid from South Side,” later adding, “Ima keep it real, I forgot I did that s**t lol.”
However, in a Friday court document obtained by The Blast, the star now admits that he has never owned bitcoin, and only went along with the initial report from TMZ because “so long as a press story is not irreparably damaging to my image or brand, I usually do not feel the need to publicly deny the reporting.”
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