The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I would say because news has just been announced about the Chinese miners being forced to close. Hash rate is down over 25% meaning we are going to be mining more bitcoin but thought it would have a similar effect on riot and Mara, who are up but haven’t popped like we just did.
The President was I a twitter chat about the bill before it passed headlines are here with thanks to Reddit. 3 and 5 are huge.
Edit 1: 100% chance it will pass they have 64 out of 84 votes
Edit 2: Bill will go into full effect in 90 days
Edit 3: “Every business must accept Bitcoin” - President
Edit 4: “we want people to get familiar with bitcoin as a unit of account, 1 bitcoin=1 bitcoin” (in order to establish residency, need to invest 3 bitcoins into El Salvador, regardless of US dollar value)
Edit 5: The president is meeting with IMF on Thursday.
Edit 6: “We adopted the dollar in 2001 for investment reasons, we’re doing that on steroids with Bitcoin”
Edit 7: “This is one of the things, that we all have to get behind, for the future of humanity, this is a game changer for the world, people might laugh about the size of our country, it doesn’t matter, we’re dreaming for the future”
Edit 8: “You can use any wallet you want” there will be a government wallet/app developed by strike but not required. It will be as free as it gets.
Edit 9: Jack Dorsey CEO of Twitter and Square has entered the room!!
Edit 10: The dollars come to El Salvador from the Fed. The convertibility of dollars into bitcoin will be handled by the El Salvador government fund. El Salvador will buy the bitcoins from those who don’t want to take the volatility risk. Government will absorb the risk and hold the bitcoin.
Edit 11: Government of El Salvador uses lots of geothermal energy. They lose energy by transporting that energy to cities. They want to promote mining bitcoin with the renewable geothermal energy to reduce loss of energy and create monetary value. HUGE! HE GETS IT!
Edit 12: “I’m going to focus on making this succeed, that will create a domino effect”
Edit 13: Mark Cuban not allowed to speak
Edit 14: CHEERS THE BILL HAS PASSED!!!!
Edit 15: $150,000,000 Bitcoin will be held in the trust fund
Edit 16: THIS WILL ONLY BE BITCOIN, NO ALT-COINS
Edit 17: El Salvador trending on Twitter, lots of headline names in the chat. Eric weinstein (Thiel Capital), mark Cuban, Charlie Lee, Tom Anderson (MySpace), jack dorsey, ambassadors to nations.
Edit 18: The presidents brother is almost in tears. “People on the floor are clapping, this is hope for our country, our country needed this”
Yes Hexam but that’s true of any share that has an underlying asset that it tracks. The BP board is often full of comments about the price of oil.
What is encouraging though is that bitcoin is down 3% from 24 hours ago and Argo has just gone green and a few percent higher than this stage yesterday. One would like to think if bitcoin could retake the previous dizzy heights of just last month this time unlike much to our disappointment last time we would benefit hugely.
I am convinced its Friday for no reason I can explain and no one should at all take me seriously.
I have a habit of never closing tabs down for months, just clicked on what I thought was the latest Argo LSE board to be treated to a share price of 220p and nearly having a heart attack. Still lets hope those days are coming back.
Not quite just google being google, dummy sell is 145.35 buy around the same at 145.6.
Sometimes people buy a very small amount of shares and pay more than the bid price, google picks up the last trade and reports it, sometimes the share price drops quite a bit as well if someone sells a few shares.
Someone I work with trades on Trading 212 and his spread is awful can currently buy for 1.50 and sell for 1.40 but he doesn't pay commission on trades, so 212 making money from the spread.