Bitcoin: It's over 9000!!! (Edit: Now it's over 20,000!)

[bcredeur97]

20 minutes ago, The Benjamins said:

I did say passed, I wasn't not able to find better number. but that's not the point. the point is that the growth of BTC is still small and has a lot more room to rise.

yeah everyone is forgetting that the rise from $13 to $1000 is still much larger % wise than the current rise this year of $1000 to $9500 

 

 

if it were the same, we'd be at like $50k or so right now. (sorry if im wrong im just trying to recall when i did the math on this like a month ago lol)

[The Benjamins]

16 minutes ago, bcredeur97 said:

yeah everyone is forgetting that the rise from $13 to $1000 is still much larger % wise than the current rise this year of $1000 to $9500 

 

 

if it were the same, we'd be at like $50k or so right now. (sorry if im wrong im just trying to recall when i did the math on this like a month ago lol)

people are just noticing because $9000 is a big number, but the percent of change is not as big as it was in the past and its been very steady vs a few years ago.

 

 

[DutchTexan]

6 hours ago, Taf the Ghost said:

We might see 12k, given where the last consolidations happened.

 

Be interesting so see who's running what through BTC to drive it so high the last few weeks. For as much as the "it's about the evil Black Market!" nonsense goes about, there is a less acceptable use that drives a lot of this. Someone wants around currency controls. Which normally means money moving out of China, but it could be somewhere else.

Forks

[Taf the Ghost]

11 minutes ago, DutchTexan said:

Forks

True. Crypto isn't really my thing, but that would make some sense. For as large as the market cap is, the actual trade volume is tiny. Small changes can whipsaw the pricing. Plus, someone big that's been buying on the way up wants to keep pushing it up.

[ravenshrike]

6 hours ago, xAcid9 said:

I heard/read that like >9000 times this year alone.

It's not a question of if, it's a question of when. All currencies, unless artificially pegged to some number, crash. Given the price curve as of late, it's pretty clear someone's playing games with BC. The only question is whether they also plan to crash it on purpose.

[Matu20]

The inevitable correction/crash is getting closer, and people are more hyped than ever before. I believe if a bigger dip happens, panic will take over and crash the currency back to it's infancy. And then the whole rollercoaster starts again.

[DutchTexan]

4 hours ago, Taf the Ghost said:

True. Crypto isn't really my thing, but that would make some sense. For as large as the market cap is, the actual trade volume is tiny. Small changes can whipsaw the pricing. Plus, someone big that's been buying on the way up wants to keep pushing it up.

Apple's market cap is almost $900B

25,000,000 shares is a normal 24hr volume, about $4.4B (@175) worth of AAPL shares.

 

This is pathetic compared to Bitcoin. BTC 24hr volume is almost $5.9B worth of Bitcoin. So, Apple with over 5.5 times the market cap can actually have smaller 24hr trading volume value.

 

Cryptocurrency as a whole nearly holds a $301B market cap and over $12.1B 24 hour trading volumes, completely destroying Apple.

 

 

But forks, forks are an issue IMO. Every time there is fork around the corner Bitcoin starts a run, it's too predictable.

 

Hold your private key before the bch fork and boom now you have Bitcoin and bitcoin cash. Hold your private key before btg fork and boom now you have Bitcoin and bitcoin gold. Hold your private key before the upcoming bitcoin diamond fork and boom you will have Bitcoin and bitcoin diamond...

 

I think these forks are mostly bullshit and the way they have been happening is going to end badly for everyone.

[8uhbbhu8]

*Sigh* Why I wish I had invested in Bitcoin when it was worth a few hundred....  Also why I wish I had invested in Ethereum when it was worth nothing  Why I invest in smaller currencies now (invest gpus wise that is )

[Ryujin2003]

19 hours ago, Okjoek said:

The same as today. You can't use it to purchase every day necessities. It's just an investor's play-thing

Stream accepts Bitcoin. The only reason I'm going to try it.

[Okjoek]

10 hours ago, 8uhbbhu8 said:

*Sigh* Why I wish I had invested in Bitcoin when it was worth a few hundred....  Also why I wish I had invested in Ethereum when it was worth nothing  Why I invest in smaller currencies now (invest gpus wise that is )

I honestly don't think investing with the intent of hitting a gold rush like that is a good primary strategy. I've heard that those who invest with the intent of making fair and modest earnings are those who get some of the best yields. IDK if that's true anyway. It kinda ties into what AdoredTV said, don't put all of your eggs in one basket.

[bcredeur97]

10 hours ago, 8uhbbhu8 said:

*Sigh* Why I wish I had invested in Bitcoin when it was worth a few hundred....  Also why I wish I had invested in Ethereum when it was worth nothing  Why I invest in smaller currencies now (invest gpus wise that is )

all these small currencies are just like startups to me... of every 99 that pop up, only 1 turns out to be a really good investment lol

 

but hey... no one said cryptocurrencies weren't risky. I'm just happy that there are other investment opportunities nowadays beyond just the stock market. And also the crypto markets are perfect for learning how to day trade (you don't need an account with $25k to start trading... you can literally trade with $20 if you just want to learn lol)

 

Bitcoin and Ethereum are genius. I have yet to see another coin pop up that is just as genius of an idea as either of those were. Gotta find those game-changing ones...  those are usually the ones to invest in.

[loopie]

This is incredible...does that mean all those mining factories in China are killing it?

[8uhbbhu8]

7 hours ago, Okjoek said:

I honestly don't think investing with the intent of hitting a gold rush like that is a good primary strategy. I've heard that those who invest with the intent of making fair and modest earnings are those who get some of the best yields. IDK if that's true anyway. It kinda ties into what AdoredTV said, don't put all of your eggs in one basket.

No it's not. When I invest in something I tend to make relatively wide investments so that if one thing fails I haven't lost too much money. I prefer to invest an amount spread out rather then one large sum dumped into 

6 hours ago, bcredeur97 said:

all these small currencies are just like startups to me... of every 99 that pop up, only 1 turns out to be a really good investment lol

 

but hey... no one said cryptocurrencies weren't risky. I'm just happy that there are other investment opportunities nowadays beyond just the stock market. And also the crypto markets are perfect for learning how to day trade (you don't need an account with $25k to start trading... you can literally trade with $20 if you just want to learn lol)

 

Bitcoin and Ethereum are genius. I have yet to see another coin pop up that is just as genius of an idea as either of those were. Gotta find those game-changing ones...  those are usually the ones to invest in.

Yeah Ethereum is amazing  Been thinking of buying some but have yet to pull the trigger  I've been mining XMR and Electronium recently on my pcs downtime as those are still quite small and in the case of Electronium practically nonexistant due to issues they have been having and are scheduled to be back online by december 8th

[AnonymousGuy]

I wonder what really is going on here.  No sane person would believe a price run up like this is actually justified so it's better to look for what's actually triggering this.  Is it actual mania by humans or is this some automated trading bullshit where the algorithms are set to basically horde unless the price goes up X% then make a trade?  Maybe the conspiracy is even bigger and you just have a team of wealthy BTC holders hording to drive the price up and then they'll all dump it.

[WkdPaul]

Friend of mine is kicking himself, he bought 1 BTC when it was around $650 CAD (so around $500 USD?) and he keeps telling me he regrets not buying 10, at the same time he invested about $5000 into stocks. So now his one BTC is worth more than his brokerage account!

[GOTSpectrum]

I honestly think, this parabolic trend can't go on forever. A serious market correction is in order I think. But who knows really, historically speaking, parabolic trends are very dangerous. If bitcoin or the crypto market in general is a bubble that bursts, it will take down a good amount of the economy. 

[TVwazhere]

On 11/26/2017 at 9:13 AM, Okjoek said:

 

 

I'll always think of this picture when I see this

Spoiler

 

[captain_to_fire]

If the likes of the US Dollar and other fiat based currencies from around the world derive their value from government decree, what gives BTC value? 

 

I don't know why I wasn't convinced by Bitcoin and other cryptocurrencies but I can see the grin in the faces of malware creators especially ransomware creators now that 1 BTC = 10,000 USD.

[The Benjamins]

17 hours ago, AnonymousGuy said:

I wonder what really is going on here.  No sane person would believe a price run up like this is actually justified so it's better to look for what's actually triggering this.  Is it actual mania by humans or is this some automated trading bullshit where the algorithms are set to basically horde unless the price goes up X% then make a trade?  Maybe the conspiracy is even bigger and you just have a team of wealthy BTC holders hording to drive the price up and then they'll all dump it.

I am not 100% current, but a lot of the surges and dips in the past months was Chinese, Japanese, Indian legislation on how they perceive, tax, regulate BTC. also the hard fork that was going to happen caused a big buy and then sell when it was getting hyped then didn't happen. but all this growth has been a lot slower then the big crash in the past that was due to a rouge exchange. this looks like more natural growth to me.

[The Benjamins]

1 minute ago, hey_yo_ said:

If the likes of the US Dollar and other fiat based currencies from around the world derive their value from government decree, what gives BTC value? 

 

people.

 

just like any currency the value is based on what the people (the masses) put on it. just look at the pound when Britain wanted to leave the EU, it tanked. it tanked due to people distrust to the currency not any governments say. The more people use, trust a currency the higher its value will get.

[captain_to_fire]

3 minutes ago, The Benjamins said:

people.

 

just like any currency the value is based on what the people (the masses) put on it. just look at the pound when Britain wanted to leave the EU, it tanked. it tanked due to people distrust to the currency not any governments say. The more people use, trust a currency the higher its value will get.

So it's safe to say then that cyptocurrencies like Bitcoin or Ethereum are fiat based currencies. I wonder if cryptocurrency banks will exist in the future which will function like how banks do it now.

[Orangeator]

No way I would invest in Bitcoin. What goes up... You know the saying.

[The Benjamins]

49 minutes ago, hey_yo_ said:

So it's safe to say then that cyptocurrencies like Bitcoin or Ethereum are fiat based currencies. I wonder if cryptocurrency banks will exist in the future which will function like how banks do it now.

no it is not fiat based.

 

with currencies like USD, the government can print or destroy money to manipulate the value when BTC has no outside control over it.

[79wjd]

1 hour ago, Orangeator said:

No way I would invest in Bitcoin. What goes up... You know the saying.

So.....I guess inesting in anything is bad and you should only short investments then.

[dfsdfgfkjsefoiqzemnd]

1 hour ago, Orangeator said:

No way I would invest in Bitcoin. What goes up... You know the saying

A lot of people said the same thing 2 years ago when it first hit $300.  It was surely going to crash etc etc.