Bitcoin Miners Earn $353 Million in One Month

The daily revenue of Bitcoin miners reached over $21 million in November—returning to pre-halving levels.

In brief

• Bitcoin miners saw profits of $353 million in October—from both transaction fees and block rewards.
• As Bitcoin's price rally continues, they may see higher revenues this month.
• Miners' daily profits have returned to pre-halving levels not seen since May.

The combined revenue of Bitcoin (BTC) miners around the world—comprising both transaction fees and block rewards—amounted to $353 million in October, according to Comprar Acciones’ report published today.

Per the report, October turned out to be one of the best months over the past three years for Bitcoin miners. During that period, transaction fees amount to around $42.9 million—or over 12% of miners’ monthly profit. Including block rewards, the revenue of $353 million signified an 8% increase compared to September.

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The report highlighted several contributing factors that helped increase miners’ profits. Unsurprisingly, one of them is the rapid growth of BTC’s price in October as the crypto gained nearly 30% month over month. On October 1, Bitcoin was trading at around $10,800 per coin while its price surged to $13,800 on October 31.

For comparison, JP Morgan Chase stock rose by 8% in October while gold and the S&P 500 Index gained 1.44% and 5.31%, respectively.

Bitcoin’s upward trend also continued into November. At press time, the price of BTC hovers around $19,200, according to CoinMarketCap, which means that miners could potentially see even bigger revenues this month.

Bitcoin miners' total revenue over the last three months. Image: Glassnode

According to Glassnode, Bitcoin miners’ daily profits also reached just over 1,126 BTC (roughly $21.7 million today), returning to pre-halving levels not seen since May when block rewards went from 12.5 BTC to 6.25 BTC. At the time, miners’ revenue dropped to as low as $7 million a day.

As Decrypt reported, Bitcoin—as well as the crypto market in general—is on fire lately. The price of BTC surpassed $19,000 yesterday and is already threatening to break the coin’s all-time high.Not that anyone’s actually sure what Bitcoin’s all-time high price was.

Increase Earnings Being Active on Social Media

Today, Social networks are incredibly popular. From Twitter to TikTok, about 3.8 billion people are using them in all their many forms. On average, internet users are spending 2 hours, 24 minutes every day on social media.

Because of their popularity, social networks are an excellent place for finding new connections or sharing pictures from recent activities, and finding new customers for a business. One of the great things is that you don't even need to run a business yourself — you can profit from promoting someone else's products or services via affiliate marketing.

Affiliate Marketing in a Nutshell

Affiliate marketing online is digital marketing, whereby you generate earnings from promoting companies' products and services. You receive a commission for purchases by new customers you have introduced to a company. The more new customers you refer to purchase a product, the greater your earnings will be. As mentioned above, social media can be a tremendous source of referrals for you.

Which Social Network Should You Use?

Almost all of the more popular social networks provide the necessary infrastructure for doing affiliate marketing activity. Even on Instagram, where link usage is limited, you can still refer your target audience to an affiliate link in your bio.

The question becomes which social media channel will work best for you. If your preference is to transmit your message with text, Facebook and Twitter are most likely be the preferred choices. 

If you would instead communicate to your audience with pictures and short videos, then Instagram should be your critical social media channel. Marketers who enjoy making how-to and product review videos have Youtube available to host them — remember to put your affiliate link in the description.

While it's possible to use multiple social media platforms simultaneously, always keep in mind that quantity should never be pursued at the expense of quality.

Rules to Follow:

It's no secret that most people hate advertising. So when promoting items in your posts on social media, it's essential to follow specific rules:

1. Always provide value.
Short posts that say things like, "Use Go Daddy for domain registration" or "Get 20% discount at Go Daddy" with an affiliate link to the website. This doesn't allow any engagement and will result in disappointment from your audience. The critical rule of Twitter, as an example, is to develop a relationship with your community, so don't just focus on sales. 

Giving advice that provides solutions on forums like Quora or Reddit is a great way to brand yourself while giving value. The answers and recommendations you give should be valuable content that pertains to the enquirer. It's advantageous to describe a personal experience, a problem that you solved, the research you conducted (e.g., about specific or new Top Level Domains (TLDs), hosting uptime, etc.).

2. Link to articles on your website.
Provide additional details, context, and engagement by linking to a post on your website, which in turn connects to affiliate products. Tell a compelling story and build stronger relationships by presenting opinions, information, and content of an influential nature. 

3. Balance out different types of content.
It might seem that users are always happy to get news about a promo or a deal, but everything of one type becomes annoying fast. The answer is to provide a balance between educational or entertainment content and promo content.
 

4. Use shortened URLs
Long URLs will make your post cumbersome and unappealing.  It's good to know there are many link shortener services out there. On Twitter, the links are shortened by their service — t.co. Or you can use a third-party link shortener, such as Bitly or TinyURL.

Additionally, a lot of affiliate networks have affiliate link shorteners right within their platform. The top link shortener I've seen is Markethive's Tiny URL. 

The Tiny URL tool lets you convert lengthy URLs in to short URLs, use in social posts, email, and take up fewer characters in Twitter tweets. It's the perfect way to handle long affiliate URLs as well.

In addition to creating a more friendly URL, the platform will track visitor stats for you. It's the perfect tool to analyze your promotional results, better understand your target audience's interests, and optimize your social, email, and other marketing campaigns.

You can even use the Tiny URL tool together with the Website Rotator tool that automatically rotates to the websites you choose. Very powerful for teams working together to promote a single URL.

5. Refer to the most relevant page.
For example, if you're describing a special promo — refer directly to the promo's landing page, which will increase your conversion rate.

6. Include pictures and videos in your posts.
Including pictures and videos is one of the top ways to draw attention to your post. If you do affiliate marketing on Instagram, it's better to use your compelling pictures or videos rather than ready-to-use pictures or affiliate banners as they will appear more natural in your audience's feed.  

7. Make posts regularly.
Trying not to appear pushy doesn't mean you should disappear. Setting up a schedule for your social media activities will ensure you don't run out of ideas and content. You can plan the testing of different approaches and strategies.

Markethive's Blogging Platform includes dynamic benefits. Just publishing on the platform provides traffic. Your blog platform gives you a visitor display at a glance. Also, in development, you will have a separate, dedicated tracking feature showing statistics for deep traffic analytical detail on visitors. The data includes country origin, time on site, bounce rate, referrers, keywords, social sites, and a data-driven matrix. 

8. Leave a disclaimer.
Build transparency and increase trust by being open with your audience and adding disclaimers to your posts. This way, your audience has all the facts — and keep in mind that faith means loyalty, which means more business. 

It's Time To Act

If used properly, social media can be a powerful tool for your affiliate marketing success and increase your earnings. Follow the basic rules and tips listed above, and even social media newbies can quickly achieve great results. 

Written by Gene Aasen
Entrepreneur 1 and Writer for Markethive.com, the social, market, broadcasting network.  I’m a strong advocate of the Markethive mission for technology, world progress, and freedom of speech. I support change and endeavor to help others understand, grow, and move forward with enthusiasm to achieve their goals. 

The Key To Generating Quality Leads

Generating high-quality leads is critical for a successful online business. It can separate you from your competition in a big way. To be sure you are getting the best leads possible, follow these easy procedures.

Step One

Make sure that you are targeting your advertising so that it’s reaching your ‘Target Market.' For example, if you’re selling fishing gear, your ads would most likely do well in publications, blogs, and groups targeting fishing enthusiasts, as opposed to spending your time and money advertising on a children’s clothing site.

The ads you are running, and the links you share need to direct the prospects to a ‘Capture Page’ and not a ‘Registration Page.' Often, Network marketers will make the mistake of advertising a page showing a compensation plan. Instead, they should make sure their ad links visitors to a page where they can capture their interest so they will fill out a form to get more information.

High-quality leads are people who clicked on your ad because they are interested in learning more. Then, they completed your capture form to request additional information.

 
Step Two

Begin developing a relationship with your leads. Show them that you know and understand their challenges and can provide a solution. When someone completes your form, that is no guarantee that they will buy from you. However, it is a guarantee that you now have an opportunity to build rapport and add value. The chances of this lead buying from you increase the more they feel they know, like, and trust you.

When one of your high quality leads contacts you with a question, make sure you respond timely. Many sales are made because someone followed up with the prospect. This is why it is said the fortune is in the follow-up!

When you have a blog or website, and regularly provide up-to-date focused information, you're taking significant steps to produce high-quality leads for your products and services. These leads you generate are MUCH better than any you could buy. Investing the time to build your list of high-quality leads will take your business to the next level.

The perfect complement to a Quality Lead Generation system is Markethive. Members have access to an all-inclusive system where they do not need to leave the platform for the extras that complement their marketing efforts and business facilitation. Markethive is a complete e-commerce system – The Social Market Network.

To join, click  HERE

 
Markethive members will have available multiple traffic portals to enhance their efforts of building an online enterprise. Coming soon is the Markethive Coin Exchange. This traffic portal is a freelancing platform along with a video, voice, copywriting platform. 

The Markethive Exchange will be integrated into the social network, to be used as an Inbound Marketing target. Markethive Entrepreneurs will be able to offer commission-free trades via promo codes. The promo codes will bind the customer to the designated Markethive Entrepreneur.
Another Markethive platform will sell services only (not goods), is designed to promote artists' copywriting, videography services, and voice-overs talent. Additionally, other commerce platform traffic portals will include a news service that sells article publishing and press release publishing that will also be displayed on the Markethive home page and Markethive.net.

Notably, because of the blockchain and coin exchange, transactions, and communications between buyer and seller will be left to the seller's discretion within the platforms. Transactions are not controlled by Markethive. These are peer to peer transactions and are kept private.

To join, click  HERE

In summary;

Markethive is a dynamic integrated amalgamation of a social network like (Facebook, LinkedIn), Inbound Marketing platforms like (Hubspot and Marketo), commerce portals like (eBay and Amazon) and Digital Media Publisher like (Cointelegraph and Bitcoin.com). It's also an Advertising Agency with experts working together with their clients to collect data. This results in the development of whatever the client needs, including Press Releases, articles or blogs, banners, images, and research.

Markethive is a formidable secure blockchain platform that includes built-in incentives and games. The goal is to deliver a dynamic collection of cohesive business gateways to create revenue sources, a sphere of authority, quality backlinks, and a growing list of top tier leads.

For any additional information or to become a Free Member, Click on the Banner below:

To join, click  HERE
 

Written by Gene Aasen
Entrepreneur 1 and Writer for Markethive.com, the social, market, broadcasting network.  I’m a strong advocate of the Markethive mission for technology, world progress, and freedom of speech. I support change and endeavor to help others understand, grow, and move forward with enthusiasm to achieve their goals. 

Bitcoin Is Less Volatile Than Many S&P 500 Stocks

Bitcoin has long been described as “volatile”. But an investment management firm has pointed out that the picture is more complex.

In brief

• Bitcoin has constantly been called “volatile”.
• But investment management firm, VanEck, compared the currency with stocks on the S&P 500.
• The firm’s research found Bitcoin to be less volatile than 112 companies on the index.

Bitcoin is less volatile than many stocks, according to investment management firm VanEck. 

The firm compared the cryptocurrency to the companies on the S&P 500 and found Bitcoin was less volatile than 112 of them in a 90 day period. In the past year, Bitcoin was a better bet than 145 stocks in the index. 

Bitcoin has been blasted by some in the world of traditional finance because of its volatility. But VanEck said that the story is not quite as simple as previously believed.

 “While bitcoin continues to be a volatile asset, it may surprise researchers and investors as to what other major assets have been more volatile than bitcoin,” the firm said in a Friday blog post. 

“Much of the volatility over the past few years can be attributed to sensitivity to small total market size, regulatory hurdles and generally limited penetration in mainstream stock and capital markets.”

 The firm added that a US Bitcoin exchange-traded fund (an investment vehicle that tracks the value of the currency) doesn’t yet exist but when it does, it “may show similar volatility characteristics as many stocks in well-known indices and ETFs.” VanEck withdrew its own application for a Bitcoin ETF.

This isn’t the first time Bitcoin has proved to be a better investment than traditional stocks. An investor put $1,000 in the top 10 cryptocurrencies in January 2019 as an experiment, and the digital assets—including Bitcoin, Ethereum and Bitcoin Cash—came out winning. 

Bitcoin Cash Price Bounces Back From Hard Fork Blues, Hits $300

Bitcoin Cash's price today hit $304, an increase of 26% from last weekend’s dip after the hard fork.

In brief

• Bitcoin Cash's price today hit $304, an increase of 16% in the past 24 hours.
• Last weekend, Bitcoin Cash (BCH) sunk after its blockchain split into two, or “hard forked.” Its price fell from $255 to $240, marking a 5% decrease.
• Bitcoin Cash’s market cap is now $5.5 billion.

The price of Bitcoin Cash (BCH) price today hit $305, an increase of 16.39% in the past 24 hours, according to Coin Gecko, a crypto data aggregation website. Today’s price increase marks the culmination of a week of recovery from last weekend's hard fork, which temporarily depressed the price.

Buy Bitcoin Cash

The price of the Bitcoin spinoff sunk last weekend after its blockchain split into two, or “hard forked.” BCH's price fell from $255 to $240, marking a 5% decrease.

The fork concerned an unpopular mining tax of 8% that would go to one of the teams developing Bitcoin Cash. Lots of people didn’t want that to happen, so they opted for a different fork. 

The uncertainty hurt the price of Bitcoin Cash. When the hard fork happened, some cryptocurrency exchanges temporarily paused deposits and withdrawals as the future of the network hung in the balance.

But today’s price marks an increase of 26% from last weekend’s dip. The network has thus recovered from the loss it incurred. 

Bitcoin Cash’s market cap is now $5.5 billion, which places it at 7th place, ranking below Litecoin, which has a market cap of $5.6 billion.

But today’s price marks an increase of 26% from last weekend’s dip. The network has thus recovered from the loss it incurred. 

Bitcoin Cash’s market cap is now $5.5 billion, which places it at 7th place, ranking below Litecoin, which has a market cap of $5.6 billion.

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Coinciding with the Bitcoin Cash price hike is good news about Covid-19 jabs.

For the time being, however, Ripple’s XRP is stealing Bitcoin Cash’s show. XRP hit highs of $0.41 today, its highest price in over a year.

Your Secret Business Tool — Social Media

Over time, some social media platforms can lose their initial popularity or significance. However, 'socialness' never changes. Regardless of the platform, each one gives businesses unequaled access and insight into their customers. When this information is used thoughtfully, businesses become privy to their customer's innermost thoughts, questions, interests, concerns, and dilemmas. In this post, we will look at how and why social media is the secret tool for operating a successful business.

Start With Building Trust

Without question, trustworthy companies are created from enduring relations. Customers initiate their transactions with 'company reps', irrespective of the company's status. So, to grow these business relationships, trust must be involved. But how do you start building trust? Here's how:

You Need To Be Present

The key is being available to the community members. For example, answer and follow up with all the direct messages and comments from users. Give value to those who read and interact with your posts. View them as people who may promote your business. Not as data or credit cards. They are people.

Display Your Humanity

Showing your face in a video or an occasional selfie can really resonate with customers. Seeing you online for a long time can make them feel like they know you because they've seen how you interact with people and what you post. Showing some humanity is valuable because your followers are interested in knowing you, not just what's being marketed. Examples are posting photos of fun company staff outings or perhaps retweets from admired companies/individuals.

Additionally, don't forget the power of humility. Trust can be built by admitting your mistakes. Sharing content describing what you've learned along the way is a great place to start, along with adding a bit of humor.

Be Transparent

Trust gets built from being helpful and being honest. Just as you can see that with friends, it's also true on social media. Honesty should be applied to your customer's questions and queries. Transparency shows that you do care about them. Responding quickly and even quirkily to every customer query, whether or not they're worthy of being answered in the first place, can generate higher engagement and often praise from the social media community.

Along with being honest and transparent, having a consistent tone is vital to building trust across social media. If the best manner of voice for your business is friendly and conversational, reflect that in all the captions, answers, and messages you post and send to your users.

Even though it can take a lot of time to build up trust, it takes very little time to break it. Trust can be destroyed in an instant if people' sense' you are misleading, deceptive, or you promote some specific cause and do nothing to support it.

Learning to Listen

So far, we've outlined the importance of building trust by being present, human, and transparent. Now we'll focus on understanding the power of listening. Most people listen with the intent to reply rather than the goal to understand. Especially with social media. No matter if it's what people say about your product or service, what your competitors are doing, or what the buzz is in your industry, the key to success is listening with the goal of complete understanding. When you know what's going on in your respective industry, you're more apt to find your way to participate in that conversation.

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Creating Valuable Content

The term "valuable content" for digital users has different meanings for different people. A useful identification filter to use is "help, don't hype."

Listen to the questions being asked in your industry and answer them with your product or service. Inherent value is created when problems such as "How is this done?", "Where can I find that?" or "How does this work?" are resolved rather than just selling your products. Users get the distinct impression that you know what you're doing, and they can really trust your products or services, even if a specific product isn't mentioned anywhere in the blog post.

Here are some ways to begin creating content that's of value to your users, no matter what your area of business:

Make Your Content Customer-Focused

Many companies nowadays post information about their business. The content becomes more valuable to a customer when it's personalized for them, answers a problem they might have, or inspires them. Customer-focused content is what helps your customers make informed decisions and keeps them returning to you.

Request Real Feedback

The famous phrase, "There's no such thing as a stupid question." is especially true when it involves your audience. Encourage them to ask questions and provide their feedback. You cannot define what is valuable. Only your audience can. So ask. Every question that your ideal client asks is an opportunity to create valuable content that answers that question. To determine what content appears to deliver the largest impact on your audience, review your website analytics. You can also check your website analytics to find out which content seems to have the most audience impact and concentrate on producing additional content in the same arena.

Produce Content That Reflects Your Business

Valuable content helps people to understand your product or service and stimulates positive engagement amongst the users. However, this doesn't mean re-strategizing content purely for higher engagement levels. For success on social media, your content needs to be useful and informative, or people will look elsewhere.

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Which Platform Works Best for Relationship Building?

Your best social media platform to use is the one where the people you want (your potential customers) are the most active. It might be Twitter, Instagram, or one of several others.
You will need to review your business and resources. Here are some of the top social media platforms:

• Facebook. Here you are able to interact with possible customers, competitors, professionals in my space, find new friends, and increase value. It has the most members worldwide based on population percentage. You can interact with other members, build connections, and trusted relationships. Additionally, you can benefit from Facebook ads along with 'audience tracking'. You have a dynamic retention tool in Facebook groups, where you can have one-on-one exchanges regularly with platform members.
• Instagram. Because of its pictorial nature, Instagram is inherently very appealing. With its feed and content, members are able to have interactions in various ways from the same location.
• Twitter and LinkedIn. The Twitter and LinkedIn platforms are a dynamic pair for social marketing. They help you to engage prospects, find alternatives, and maintain connections until people are ready to buy or would refer you to someone else.
• Markethive. Markethive delivers an Inbound Marketing platform equal or superior to Marketo and Hubspot. It includes email autoresponders, blogging platforms, landing pages, social media broadcasting, Tracking analytics, SEO, backlinking automation, messaging, e-commerce, and SEO. The benefits of these systems are to "attract," "convert," "close," and "delight." Building a large loyal long term customer base.

Improvement Of Your Social Media Presence

Social media is never a 'One and Done' relationship. It is always ongoing and evolving. What's critical is knowing it's not only concerning increasing your number of customers but also about extending your capacity and impacting your business sector. With the intention of advancement, review these useful guides:

• Compose a conversation. Keep in mind you should be talking, not broadcasting. Since Social media utilizes conversational platforms, you should concentrate on creating conversations. That includes listening, questioning, and speaking with people, not at people. These days audiences are sick and tired of being talked at by individuals that just broadcast. They want to connect, and you can make the connection by involving yourself in their conversations.
• Update & Optimize your social media Bio's. This is the initial image that potential connections will have of you. Unless your profile stands out from all the others on social media, your results will be less than you would like. Identify your points of difference and share them.
• Try A/B testing. First, brainstorm for interesting, fresh topics that would reflect your business's image. Next, run the projects through a test in terms of their subject matter, post times, and headings by managing the results. If the results are favorable, proceed to the next test. For example, on Facebook, post a rough draft on a certain topic and see the response, i.e., questions asked, comments, and likes. From there, you can determine whether to leverage the quick post into longer-form content, such as a blog post or email.

Looking Ahead

Always remember, it's not about the technology; it's about the people. Social media platforms, without a doubt, can bring us together on both a personal and professional level with others. Perhaps the best way to move ahead, no matter how big or small your business, is using social media as a tool for understanding people. When your business prioritizes this understanding using open and honest engagement, trust can be slowly built, and success can indeed be had.

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Click here to join Markethive

Did Someone Really Just Pay $82,000 for a Single Bitcoin?

Was it a bug? A mistake? Or just a really eager Bitcoin buyer? Whatever it was, an $82,000 wick on Binance has traders scratching their heads.

In brief

• Something strange happened today in the world of Bitcoin trading.
• On Binance, Bitcoin price hit a high of "$82,000" during the early morning.
• All signs point to some kind of error.

File this one under “only in crypto.”

While some keen market observers wait for the price of Bitcoin to break it’s all-time high of nearly $20,000, a few traders on Binance—the world’s largest crypto exchange by volume—watched the coin go to the moon today. Even if only for a brief moment.

Bitcoin broke past $20,000 and hit a whopping $82,000… then quickly dropped back down again, as if nothing had happened. Intrigued? So were we…

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According to the BTC/TUSD chart on Binance, an extremely long wick appeared at 1am ET on November 17. Bitcoin started its green candle at $16,626, lit a wick at exactly $82,000, and closed the 60-minute trip at $16,635.

BTC-TUSD trading pair on Binance. Image: Binance

The rest of Bitcoin's pairs against the US dollar or its stablecoin equivalents (USDC, BUSD, DAI, PAX, and USDT) were unaffected. Trading volume during the rally didn't show any anomalies either. There was indeed a spike in volume, but nothing out of the ordinary.

What happened?

It's hard to know for sure, but considering the relatively low trading volume during the period of time compared to the absurd price spike to $82,000—and the fact that Crypto Twitter didn't go bananas—everything seems to point to some kind of error.

A "human error" by a trader would most likely have activated a row of market orders before touching the $82,000 price mark. It would have taken an enormous amount of money changing hands to organically reach that price, practically depleting the trading pair's liquidity.

With that in mind, a bug is the most logical explanation—at least that we can think of. In fact, similar weird blips have happened on Binance before. 

For example, on October 28, 2020, a major “Darth Maul Sword” (a little candle with super large wicks) happened on the ETHUSD perpetual contracts, activating trades at specific prices without going through the standard order matching procedures.

A Darth Maul cande on Binance. Image: Binance

Decrypt has contacted Binance about today’s $82K BTC wick but we’ve yet to receive a response. And the traders we spoke with were as confused as we were. But we’ll be sure to update if anyone comes through with a better explanation.

For now, it’s best not to pull a McAfee and bet any of your body parts on Bitcoin touching that price mark again any time soon.