Here's what I learned about Bitcoin and other companies


I've been reading a lot about Bitcoin just trying to get my head around it. I'm still not sold to it. I know people who swear by it and keep telling me that I'm going to regret it one day if I don't invest in it. My response is if I ever do get to that point, it won't be the first time nor would it be the last time.
 
So if you've been wondering about it, here is a bit of information about it. According to CNN, Bitcoin was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games.But much of the hype is about getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017.

In a recent finding by Bitcoin.com News, $1.36 billion worth of cryptocurrencies have been stolen by fraudsters during the first two months of 2018. Investigators believe that a company called BTC Global duped more than 26 000 South Africans into buying Bitcoin. They got them to hand over their cryptocurrency to invest in return for dividends of 14% a week. Fraudsters will pretend to be famous people offering digital money on social platforms such as Twitter but actually stealing it from anybody who replies.

And in recent news, Twitter CEO Jack Dorsey told U.K.'s Sunday Times newspaper that bitcoin would likely become the single global currency within 10 years, "but it could go faster."

CNN reported that the cryptocurrency market dropped in value, as major cryptocurrencies including bitcoin and Ethereum fell by more than 4 percent.

Currently most buyers of Bitcoin treat it like an asset, not currency, with the hope of reaping great returns in the future.

If you've been planning to invest in Bitcoin and wondering how much your missed investment is like now, there’s a website called Bitcoin FOMO Calculator. (FOMO, for the non-millennials out there, is an acronym for “fear of missing out.”) The site is very simple: You tell it how much you would have invested at what point in time, and it tells you how much you’d have right now.

What I know for sure is that Cryptocurrencies and digital currency are not disappearing any time soon. Like everything else in the world of finances, try to keep up to date with the latest news. This is to help you avoid scams or be left behind. If you want to invest in Bitcoin or any of the cryptocurrencies, understand how the various crosscurrents push and pull the crypto markets. Remember, your best investment is in yourself.

And speaking of news, here is a roundup of business news that broke over the weekend.

Steinhoff International Holdings NV, the retailer that’s wiped out more than $12 billion of value since an accounting scandal exploded in December, plans to reward directors for having to do more work than usual. Source: Bloomberg

The head of the National Treasury, Dondo Mogajane said SA will consider partially privatising struggling state-owned companies as part of wide-ranging reforms set in motion by President Cyril Ramaphosa since he came to power last month. Source: BusinessLive

Naspers is considering a secondary listing abroad and will also look at separate listings for some companies within the group – including its South African and African pay-TV unit, CEO Bob van Dijk says. Source: Growth Start

With the Brics mid-term meeting set to kick start in shanghai in China, the South African Brics Business Council says, the reduction of trade barriers by Brics nations is needed to create the platform to accelerate growth and prosperity. Source: EWN

The American Embassy on Friday urged American investors to nurture relations with South African business leaders in a bid to pump more investment into areas of infrastructure development, real estate, and private equity in the country. Source: Citizen

AGM reveals BBC’s ‘insolvent’ state. As at February 2017, the BBC had total liabilities of R6.2m, compared with assets of R3.6m, which means that its liabilities exceeded its assets by R2.6m, making it technically insolvent, which means the business lobby could struggle to pay its bills at some point. Source: Fin24

Ratings agency Moody’s on Friday affirmed South Africa’s investment-grade credit rating and revised its credit outlook to stable from negative, saying the previous weakening of national institutions was gradually reversing which supported an economic recovery. Source: Reuters

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