Cryptocurrency & Mining News - Page 44

The internet is waiting for Elon Musk to mention or discuss Dogecoin on Saturday Night Live on May 8, which just so happens to be exactly 6942 days since SpaceX was founded... you know, 69 + 42(0) and stuff.

But when it comes to Dogecoin there is a single wallet out there in the world that has around 28% of all of the Dogecoin cryptocurrency in circulation, which at the current price (at the time of writing) of $0.64 would be worth over $23 billion. Yes... that's $23 billion with a really, really big B.

There are 129,489,119,200 Dogecoin in circulation, with around 23% of them working out to be 36,256,953,376 Dogecoin. 36,256,953,376 Dogecoin at the current price of $0.64 means that single Dogecoin wallet holder is sitting on a rather gigatic $23 billion -- or $23,000,000,000.

Dogecoin, a cryptocurrency that was created based on the internet meme, has seen massive popularity in recent months, taking the coins market capitalization to a record $79 billion.

Dogecoin co-creator Billy Markus did an interview with Benzinga back in March, and throughout that interview, he revealed that he sold his holdings of the Dogecoin back in 2015 for about what it costs to buy a used Honda Civic ($10,000). What is ironic about this transaction is that now Dogecoin is worth more than the entire Honda Motor Co. Ltd company. Honda has a market cap of $54 billion.

Here's what Markus said, "No one would have heard of (Dogecoin) in the first place if it wasn't a meme, (and) Elon wouldn't (have tweeted) about it. Dogecoin being a lighthearted, friendly, and amusing meme is the main thing that separates it from the pack - taking away its main differentiation and turning it into a generic crypto seems like a pretty bad idea."

Saturday Night Live will be hosted by SpaceX and Tesla founder Elon Musk aka The Dogefather this weekend on May 8, which has not only the cast of SNL triggered but many other people around the world.

First off, the official SNL account on Twitter tweeted out an image of Musk at Studio 8 ahead of his hosting on May 8 where he is in front of a stack of paperwork. I doubt this is a script since Musk in a devilish delivery said he wanted to see "just how live Saturday Night Live really is" -- and more NDA paperwork that he would be required to sign.

Elon quickly retweeted it without adding anything to it, so it was just an image share of him at Studio 8H with Saturday Night Live, preparing for his hosting on May 8.

If you purchased Dogecoin at any point before February or March 2021, then you'd be one happy person right now -- with the people's crypto (in Elon Musk's own words) skyrocketing towards the moon (and hopefully, beyond).

But now we have Galaxy Digital CEO and founder Mike Novogratz speaking with CNBC on Wednesday, with the topic of cryptocurrency Dogecoin which is up around 19,000% since this time last year. Novogratz told CNBC: "When you think about the whole spirit of what this crypto revolution is, there's something pure in what dogecoin has done. It's a little bit of a middle finger to the system. People are unhappy with the current financial system. They just are".

He continued: "It would be very dangerous to be short, I'll tell you that much. I'm not participating on the long side. I think it's dangerous because once that enthusiasm dies, if it dies, you could have a long way down. But I don't want to discredit. It's shocking that it happened".

Dogecoin has been mooning for a few days now, with the cryptocurrency that started off as a joke and one of the biggest memes used on the internet, now has a market cap of $70 billion and is worth more than freaking Twitter.

The price of Dogecoin has mooned over 14,000% in the last 12 months -- yes, that's 140x the price in a year -- with the big start of Dogecoin skyrocketing in February 2021. SpaceX and Tesla founder Elon Musk started tweeting out about the cryptocurrency, saying it Dogecoin was the "people's crypto" and that "SpaceX is going to put a literal Dogecoin on the literal moon" on April 1, 2021.

But then more Dogecoin fuel was thrown onto the fire, with Elon Musk announcing that he would be hosting Saturday Night Live on May 8 and that he wanted to "find out just how live Saturday Night Live really is" on April 25 -- and then came the tweet on April 28 with a simple "The Dogefather SNL May 8".

Dogecoin is flying not just up to the Moon, but beyond and probably to Mars at this point as the people's crypto -- Elon Musk's words -- hits new record high after new record high.

Dogecoin was priced at $0.56 at the time of writing, with a market capitalization of around $70 billion... $27 billion more than the second-largest social networking site in the world: Twitter. Twitter has a market cap of around $43 billion at the time of writing.

To put Dogecoin's new $70 billion+ market cap into perspective, Dell has a market cap of $73.6 billion, COVID-19 vaccine maker Moderna has a $69 billion market cap, Activision-Blizzard has a market cap of $68.9 billion, and even Heineken with its $67 billion market cap. Dogecoin might have started off as a joke, but it's serious business now.

Chia Coin is looking to do some damage to the HDD and SSD market now that it has pushed past using 1 exabyte of storage capacity -- a gigantic 5.7x increase since just the beginning of April.

Chia Coin will kick off its official launching into the crypto trading world next week, with the team at Chia reporting that storage capacity for Chia Coin has reached a peak of 1.14 exabytes -- or a huge 1143 petabytes, enough to install Call of Duty: Warzone a couple of times at least.

At the beginning of April, we saw Chia Coin consuming around 120 petabytes of storage -- but now that has flown up to 1143 petabytes and has people concerned. Chia Coin Mining requires gigantic amounts of free storage space as well as lots of reading and writing to your HDD or SSD, so consumer-focused SSDs aren't the best thing for Chia Coin Mining.

If you are a Coinbase user, you will now be glad to know that you can make purchases of cryptocurrency with PayPal.

Coinbase has recently announced that it will be allowing its customers that are based in the United States to make purchases of cryptocurrency by using debit cards and bank accounts that are linked to their PayPal accounts. Coinbase has said that being able to purchase cryptocurrency via PayPal adds a new way of purchasing crypto on the platform that dodges the traditional wire transfer method.

Coinbase users will reportedly be able to "buy crypto instantly" without having to link any bank account information or credit card information to exchange. Purchasing crypto via the PayPal method has a daily cap of $25,000. Coinbase has only made this feature available to users in the US. However, the exchange platform plans on releasing this feature to more countries "in the coming months". For more information on this story, check out this link here.

It seems that Chia Coin cryptocurrency mining is taking off faster than we thought, with GALAX now warning its customers that if they use one of their GALAX-branded SSDs for Chia Coin mining that they might not have warranty.

GALAX China has officially warned its customers that if they are mining Chia Coin on their SSDs that the writes onto the SSD are much higher than typical use and can slow down, or even permanently damage the SSD. GALAX China explained on their website, with the post translated from Chinese to English.

The company explains: "If users use our SSD products for mining/farming and other abnormal operations, the data write volume is much higher than the daily use standard, and the SSD will slow down or be damaged due to excessive data write volume".

Elon Musk, the CEO of both SpaceX and Tesla, will be making an appearance on the decades-long TV show Saturday Night Live.

Elon will be hosting Saturday Night Live (SNL) on May 8, and to get that hype train rolling for that episode, Musk has tweeted out "The Dogefather SNL May 8". Since Musk has referenced cryptocurrency, and in particular Dogecoin, there's a high probability that Musk will be mentioning cryptocurrency in one way or another. Most likely Dogecoin, which he has been a big player in its increasing value.

Musk mentioning Dogecoin, or the big daddy Bitcoin, will bring attention to these coins from the millions of people that are watching SNL. If even a small portion of these people begin to invest in cryptocurrencies, the market could see an increase, purely based on the 50-years of audience building SNL has done. Time will tell. Musk will be hosting SNL on May 8. For more information on this story, check out this link here.