Partnering with the planetary mobility firm Lunar Outpost, the California-based social intelligence company LunarCrush plans to deliver a treasure chest of 62 Bitcoins currently worth about $1.5 million to the surface of the moon.
"The Bitcoin bounty, dubbed Nakamoto_1, will be unlocked by the first space traveler to reach the moon and obtain the wallet's private key, which will be etched onto a Lunar Outpost MAPP rover launching into space later this year," a press release about the project states.
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"We envision classrooms, groups, companies and even DAOs [decentralized autonomous organizations] coming together to reach the moon and split the treasure chest's rewards," Vezzani added. "It's like Willy Wonka's 'golden ticket' for the Web3 era, and we couldn't be more excited to see how it all unfolds."
Per the press release, 25% of each NFT sale ($250 each) will be applied toward funding the moon-bound treasure chest, and another 25% of the proceeds will help fund a general "community marketing wallet" to aid future Bitcoin core development and causes related to STEM (science, technology, engineering and math) education.
I have an idea and would love to get paid for it if it turns out to work. But try to beat Elon Musk from having the first crypto on the moon. Harder said than done yes but u might have the contacts to do it. BTC Not just to the moon, but on the moon. We were the first crypto. We should be the first crypto on the moon. Hate to steal elon musk's idea but it's a good idea. The price would moon even more beating Elon Musk. Please help share this idea and if it takes off and actually works remember me lol. Please tell me what you think as well of this idea or stolen idea ? Also posted this idea on twitter under BTC as well as a couple of exchanges twitter.
COSTA MESA, Calif., March 23, 2023 /PRNewswire/ -- Social Intelligence company LunarCrush is sending a treasure chest of 62 Bitcoin (currently worth ~$1.5M) to the Earth's moon. The Bitcoin bounty, dubbed Nakamoto_1, will be unlocked by the first space traveler to reach the moon and obtain the wallet's private key, which will be etched onto a Lunar Outpost MAPP Rover launching into space later this year.
LunarCrush teamed up with global leader in commercial planetary mobility Lunar Outpost, to send this lunar treasure chest to the moon. Animation studio Golden Wolf, and Bitcoin developer tools company Hiro partnered with LunarCrush to make Nakamoto_1 come to life. The technology and design partners created and will sell an NFT collection to raise funds for the Bitcoin bounty. The goal of this Web3-powered space race is to inspire the next generation of interplanetary exploration.
The process of engraving the private key affixed to the rover will be fully documented, providing transparency and ensuring that no one, including the contributing teams, has access to the private keys. Once Lunar Outpost's MAPP Rover lands on the moon, anyone on Earth can create a plan to reach it and unlock the bounty of digital gold. The rover will be taken to the moon in Q4 of this year via a SpaceX rocket, but for security reasons the exact date has not yet been disclosed.
Once considered financial curiosities useful only for proof-of-concept transactions like buying pizza, bitcoin and other cryptocurrencies are now on the verge of mainstream legitimacy. Analysts expect three major developments in 2024: A major bitcoin milestone, dubbed "The Halvening," is set to make supply more scarce. they see a more aggressive bid to drive bad actors out of the industry, and major institutions are readying ETFs for approval by regulators.
That institutional support is one of the largest bull factors for bitcoin in 2024, says Will Clemente, Reflexivity Research founder and a notable bitcoin bull. "The most interesting trend throughout the year has been the rise of a U.S.-based institutional type of buyer, whereas historically the crypto market's been primarily driven by retail (investors)," Clemente tells Investor's Business Daily.
Meanwhile, bitcoin in 2024 could become what it's always been designed to be: digital money, in all its investable, transaction-able glory. The big question is: Will this be enough to overcome its reputation for volatility, seediness and lack of stability?
One of the most surefire events to catalyze bitcoin in 2024 is The Halvening, a portmanteau of "halving" and "happening." That's when the reward for bitcoin miners will be cut in half, or halved, in predictable increments.
Satoshi Nakamoto, the cryptocurrency's mythical creator, introduced the idea in the original bitcoin white paper published in 2008. Bitcoin "miners" get rewards for verifying its transactions, which incentivizes them to contribute to the network. But because the supply of bitcoin is fixed (a measure intended to fight inflation), that reward halves after a set number of transactions.
However, a smaller reward creates less incentive for miners. That means adding bitcoins to the blockchain at a slower pace. Eventually, transaction fees will outpace mining as a way to profit from bitcoin. "Just from a raw supply-demand standpoint, you have less supply coming onto the market," Clemente said. "Even if demand stays the same, price starts to drift upwards."
One of the most notable developments is the rise of bitcoin ETF applications. The Securities and Exchange Commission and companies like BlackRock and Fidelity are discussing proposals for ETFs that track the price of bitcoin. There are reportedly up to 13 firms with pending applications for bitcoin-tracking ETFs, according to Reuters.
Investors looking to gain exposure to bitcoin and other cryptocurrencies will likely drive this trend in 2024. Clemente sees a rise in bitcoin trading during U.S. hours versus trading during European and Asia-Pacific hours. Meanwhile, interest in bitcoin futures is rising on regulated exchanges like the Chicago Mercantile Exchange.
"The U.S. has really been driving this thing up," Clemente said. "BlackRock, Fidelity and some of these very large institutional firms are putting a stamp of approval (on bitcoin), saying 'look, we feel comfortable offering this to our clients.' "
Institutional support could mean more stability for bitcoin in 2024, and a reduction of the trademark volatility that has plagued the cryptocurrency. "They're able to get money into the asset in a way that they feel comfortable doing so for the first time," said Clemente.
While the fundamental story for bitcoin in 2024 looks promising, investors need to remember that an analysis of what the actual charts are saying is of paramount importance. Look for proper entries, avoid buying extended and always make sure to manage risk by sidestepping big losses.
However, most of them are just looking out for themselves, that is, trying to influence the markets to favor their assets. Traders, buyers, and even the public at large grew thrilled about the growth in the value of crypto and the value of Bitcoin (moon Bitcoin) during the 2017 bull market, which made this phrase popular.
The cryptocurrency is up over 700% from a year ago when a single bitcoin was below $7000. This year, bitcoin is up over 100% after a February rally brought the cryptocurrency over $50,000 for the first time.
Early Saturday morning, as the cryptocurrency was floating around its weekend high, Tesla and SpaceX CEO (and Technoking) Elon Musk tweeted "...going to moon very soon," in an apparent reference to popular Bitcoin slang "to the moon."
Musk, a bitcoin booster whose company Tesla purchased $1.5 billion of bitcoin, netting the company more profit than its electric car business, also helms up SpaceX. The company is planning the first civilian space flight to the moon in 2023.
Earlier this month, the proliferate billionaire tweeter tweeted that the company would "put a literal Dogecoin on the literal moon." His latest tweet prompted some speculation that SpaceX may join Tesla in adding cryptocurrency to its balance sheet.
Goldman Sachs has relaunched its cryptocurrency trading desk while the world's largest asset manager, BlackRock, has begun to dabble in bitcoin futures as well. A recent report from Citi speculated that bitcoin could set off a "massive transformation" in global finance, becoming the standard medium of trade, though it also highlighted the possibility of an "implosion."
Over the last few months, the world of cryptocurrency has heated up significantly: The volatile price of bitcoin, ethereum, and other digital tokens has created and wiped out millionaires and billionaires from all over the world.
In December 2013, a member of the official bitcoin message board made an apparently inebriated post with a typo in the subject line: "I AM HODLING." He was trying to say that he's "holding," as in, hanging on to his coins for the long term, regardless of any short-term price changes.
The post became a meme, as bitcoin fans retroactively made it so HODL stands for "hold on for dear life." The term is used to discourage selling when bitcoin prices fall, and to ride it out until they return to growth.. It's viewed as a faux pas in the cryptocurrency community to sell instead of holding on for dear life.
"To the Moon" is an exclamation used when cryptocurrency prices are rising off the charts. By the same token, when a coin's price is "mooning," that means that the price has hit a peak. You might ask the grammatically-incorrect question "when moon?" if you wanted to know the opportune time to sell your cryptocurrency, before prices go back down.
According to The Merkle, Obsessive Cryptocurrency Disorder, or OCD, is a condition developed over time by those who own any amount of bitcoin. They become obsessive about watching bitcoin prices rise and fall, all day and night.
When a bitcoin holder (or HODLer) is mocked for not being rich yet, they're being bitshamed. The case of bitcoin advocate Andreas Antonopoulos is a great example of this. An avid bitcoin lecturer for years, he revealed in December that he's actually not a bitcoin millionaire, and sold his coins early to cover rent and bills. He was bitshamed by Roger Ver, known in the bitcoin community as "Bitcoin Jesus," for his failure to hodl. 9af72c28ce
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