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Things To Know Before Investing In Cryptocurrency

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In 2009 Bitcoin was less than a dollar.  You could have taken all of the money spent on fast food for the year and purchased some coins. Most Americans spend over $1500 dollars a year on fast food. So let’s just use that.  Today Bitcoin cost about $18,000 dollars per unit, so that means if you would have invested your fast food money you would have $27 million dollars worth of Bitcoins.

Those type of crazy numbers is why people are going crazy for Bitcoins and other cryptocurrencies. But before you mortgage your home and sell all of your possessions check out some things you need to know.

What Is Bitcoin?

Bitcoin is a type of cryptocurrency. OxfordDictionaries.com defines cryptocurrency as “a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.”

It might be useful to think of bitcoin as a digital currency that can be used to complete a transaction between two parties without involving a middleman. So in short person to person. It enables direct, private transactions between users, with virtually no transaction costs. So there are no atm fees, late fees, account fees, balance requirements, or bullshit overdraft charges.

Alt coins?

These are cryptocurrencies other than Bitcoin and there are hundreds of them. Anyone with the know-how can set up their own version of cryptocurrency as easy as most setup a social profile. But there are some outsiders like Monero, Ripple and Dash that have the potential to go far. Ethereum, which recently won backing from Microsoft and JP Morgan Chase, is up 900 per cent this year.

What’s The Risk?

Buying cryptocurrency comes with a lot of risks since there are no regulations. In a recent poll with CNBC.com, most economists believe that Bitcoin is on the bubble and will suffer a huge downturn.  The last time the US stock market fell by more than ten per cent in a day was back in 1957; Bitcoin has seen more than ten per cent wiped off its value 38 times since January 2012. A cryptocurrency could also be obliterated overnight. Should major governments regulate hard against it or hackers manage to break its security, that’s your money up in smoke. What’s more, criminals have been stealing from online wallets and since there are no regulations or anyone to fill a fraud charge with.

How Much Could You Make?

There is no right or wrong answer here. Forget about the hype machines or the doomsday preppers. The easiest way to think about it, only invests what you are willing to lose. Things on the don’t lose list should be your family, your livelihood, or your entire life savings.

 

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Puma Promises To Donate Proceeds From Peace On Earth Shoes To Trayvon Martin Foundation

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Puma has decided to show their support for against gun violence with a new line of sneakers.

The company announced it will donate $5 dollars from each shoe sold from the Peace On Earth line to the Trayvon Martin Foundation.

The PUMA Clyde Court colorway features a feather white knit build with off-white accents. Grey is featured at the heel counter while a touch of jolly red can be found at the top eyelet.

The sneaker will release on December 20.

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Juicy J Backed Water Company Sells For $525 Million

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Juicy J is celebrating after his investment in Core Water brand has paid off.

The company has been acquired by Keurig Dr. Pepper for $525 million. The Oscar-winning artists commented on the deal via Instagram typing, “The best investment I made in my life.”

Wholesale sales for CORE were between $70 and $80 million, while retail sales were close to $200 million. KDP expects to reel in $90 million in tax benefits as part of the deal.

“KDP has been an outstanding partner for CORE and I am certain that, under its ownership, CORE will continue to see tremendous long-term success,” founder Lance Collins said in a press release. “I am a strong supporter of the KDP strategy and business model and am looking forward to being a shareholder in the company.”

 

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Drake Wins Lawsuit Over Woman’s False Rape And Pregnancy Claims

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Drake has won his lawsuit with the woman that made false pregnancy and rape allegations against him in 2017. Layla Lace met Drake during last year’s Boy Meets World Tour in Manchester, England, where he claimed they had consensual sex.

According to TMZ, Drizzy won his case and Lace is prohibited from using media to assert the claims. Manchester police also investigated, once Lace made the claims and could not find any evidence.

Drake claimed that when he stopped responding to subsequent messages, she allegedly began threatening to leak their correspondence, publicly claimed he had impregnated her, accused him of rape, and demanded “millions of dollars” in exchange for silence. Drake is reportedly suing for civil extortion, emotional distress, fraud, defamation, and abuse of process.

The suit claimed Layla refused to take a paternity test and Layla and her lawyer went radio silent. Drake says the whole thing was a scam … “There is no credible evidence of pregnancy, nor any baby, which would have been born last Fall.”

Celebrity attorney Larry Stein, who’s repping Drake, tells TMZ … “The filing made by Drake against Layla Lace has been resolved, with Layla avoiding going to trial by agreeing to a stipulated judgment which prohibits her from repeating past statements she made against Drake.  Drake and his team are satisfied with this outcome and while Drake appreciates the support he has received, he asks that his fans and the media allow both parties to move on with their lives”

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