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Bitcoin.Com Co-Founder Just Sold All His Bitcoins

People might want to think twice before investing on bitcoin as Bitcoin.com’s co-founder just sold all of his coins.

Bitcoin remains to be the top digital currency today. Despite the doubts that people have on the coin, it managed to grow its value through the years, and a single unit of it today is already almost unaffordable. Amid the success of the cryptocurrency though, investors were surprised to know that Bitcoin.com’s co-founder sold all of his coins.

Some cryptocurrency experts, as well as long-time investors, have already given stern warning about the future of Bitcoin. Novices in the cryptocurrency mining and trading, though, are still all too excited to put a huge fraction of their savings on Bitcoin when there are hundreds of other potential coins starting to emerge.

People are slowly getting discouraged to continue their investments on Bitcoin.

Source: pixabay

In fact, Emil Oldenburg, who co-founded and is the chief technology officer of Bitcoin.com, is calling the coin “as good as useless.” He believes that the digital currency is now the “most risky investment you can make,” hence selling all of his coins. Oldenburg previously revealed why he lost his faith on Bitcoin, saying:

“It is an extremely high risk. I’ve actually sold all my bitcoins recently and switched to bitcoin cash.
It costs a lot to transfer bitcoins to and from the stock exchanges. When I sold my BTC I had to pay $50 and wait 12 hours or the transaction to go through because of this.

Emil Oldenburg himself already withdrew all his investments and sold all of his coins.

Source: pixabay

He revealed Bitcoin.com had ‘stopped developing new services for the old bitcoin network’ and now primarily focuses mostly on bitcoin cash, which was launched in August.

“The old bitcoin network is virtually unusable. It’s at bitcoin cash that the solutions are, that’s where I see a future.”

The Bitcoin.com executive said that the “high transaction fees and delays in transactions being approved” are his main reasons for backing out in the currency trading game.

This is despite the cryptocurrency reportedly reaching 1000 percent growth where it started at approximately $1000 value in January last year and ended at a whopping $18,000 by December.

The co-founder also said that the cryptocurrency is already as good as useless.

Source: pixabay

Other experts already withdrew their Bitcoin investments. This includes an anonymous investor who reportedly made a fortune on Bitcoin but recently donated a huge portion of his wealth to worthy charities. Like the claims of others, this expert believes that Bitcoin is now in a risky position and that its future may not be as good as its state today. He previously said in an interview:

“I can’t directly answer [which coin to invest in], but I want to caution against investing without understanding the risks. Bitcoin has crashed by almost 90% before, and it is bound to crash again.

Cryptocurrency is not a piñata of free growth. I believe we are in a bubble, and many people who have invested recently (or invest from now on, at these prices) will be facing substantial losses.”

The expert and founder of the Pineapple Fund believes anyone who’s investing on Bitcoin for a long-term will soon lose a lot of money. Other cryptocurrency investors are now switching to other coins like Litecoin, Bitcoin Cash, Ethereum, Electroneum, and NXT among others, which all have lower values but manifest quick growth.

Sci/Tech

Ancient 99-Million-Year-Old Frogs Look Just Like Modern-Day Toads

Frogs will always be frogs, whether they were born today or in the Cretaceous Period.

The world is filled with exciting new discoveries from ancient times. Scientists have just uncovered evidence that frogs roamed the Earth during the Cretaceous Period about 100 million years ago. Interestingly, these ancient toads seem to look just like their modern-day descendants.

A new report confirms that scientists have found four frog fossils in northern Myanmar. The tiny bodies were encased in amber and offer a clear glimpse at what tropical rainforests looked like in the Cretaceous Period. In any case, the discovery is groundbreaking since frogs rarely become fossils.

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Sci/Tech

Elon Musk’s Flamethrowers Get Misused On Social Media Despite Strict Terms & Conditions

What better way to start a particularly hot summer?

There is little doubt that Elon Musk's flamethrowers are the hottest new commodity right now. After all, the fiery device produced by The Boring Company have just been sold out. However, it looks like consumers have already started misusing the dangerous product despite its lengthy terms and conditions.

The Boring Company finally rolled out Not A Flamethrower at a celebrated pick up event held at the company's headquarters. People who had pre-ordered the gadgets were given a chance to sample the power of the flamethrower on unfortunate marshmallows. Although safety was reinforced during the event, things took a dangerous turn once everyone got home.

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Sci/Tech

NASA’s Curiosity Rover Finds Ancient Organics On Mars, Possible Life On Planet In The Past

The new discovery might confirm life thrived on the Red Planet billions of years ago.

Curiosity has made an exciting discovery on the surface of Mars. The rover has just found possible evidence of life on the planet billions of years ago. NASA might not quite ready to confirm that creatures once roamed the Red Planet. Nevertheless, the agency believes that the findings could mean positive things for future missions.

The NASA rover has found organic molecules in sedimentary rocks near the planet's surface. These molecules may contain hydroxen, carbon, oxygen, and nitrogen and are usually associated with life. However, their presence in the billion-year-old rocks does not confirm life on Mars just yet.

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