Time to buy bitcoin

[sakinago]

So I bought some bitcoin a few years ago, the price was about 300 USD a coin at the, and I bought 1/2 a coin for around 150. Really for me, it wasn’t about making money, but more having another outlet I can quickly move my money too that I had complete control over, not a bank, not a government, but me...

Now that one50 a few years ago, is now worth 3600. And the price just keeps going up and up it’s nuts. Damn am I happy I got into it then. And I thought about cashing out when It was 4000, damn am I happy I did not cash out then either..

 

[LA RAM FAN]

damn right it is.

 

[waltky]

Bitcoin more valuable than gold...

Bitcoin's value rises after big selloff
Nov. 13,`17 (UPI) -- Digital currency bitcoin has gone on a roller coaster-type ride the past few days.

Last week, bitcoin hit a record $7,879.06, according to industry website Coindesk, on CME Group announcing plans to offer bitcoin futures contracts, and some favorable regulation in countries, including Japan. Over the weekend, it sold off as investors reacted to developers' decision to delay upgrading the bitcoin network for transactions and spit the currency. It dropped as low as $5,617,29 Sunday as hedge funds cashed in some profits. On Monday, it began trading at $5,857.32 and climbed to a session-high $6,770,37, according to data from CoinDesk. It then dropped to $6,459.61 Monday, a rise of 10.28 percent

The total value of all the coins in circulation rose $10 billion on Monday, according to industry website Coinmarketcap.com. "Crypto trading is not for the novice investor," John Spallanzani, chief macro strategist at GFI Securities LLC in New York, said to Bloomberg.

Bitcoin's price has traded widely over the past week, as high as $7,879.06 and as low as $5,617,29. On Monday afternoon it was trading at $6,459.61.​

Those favoring the technology upgrade have been switching to Bitcoin cash, an offshoot of bitcoin that has become more popular because of its bigger block size. It increased last week but plunged from an all-time high of $2,477.65 on Sunday to $1,277.29 on Monday, according to Coinmarketcap.com. "We have seen similar steep falls in bitcoin throughout the year -- specifically in June and September -- but every time a considerable decline occurs, new investors jump in to experience the new asset class," Hussein Sayed, chief market strategist at ForexTime Ltd., a currency broker that uses the brand FXTM, wrote in a note obtained by Bloomberg.

Bitcoin has a market value of about $110 billion after dropping to a low of $38 billion on Nov. 8. The currency has gained nearly 600 percent this year. "One of the main problems with bitcoin is that it does not scale up properly as more and more users adopt it," said Daniele Bianchi, assistant professor of finance at Warwick Business School, said to CNN.

Bitcoin's value rises after big selloff

 

[fncceo]

What is driving the volatility?

 

[Likkmee]

Ask Ghadaffi, Saddam, Trejos...on on on.... how that works out denying the almighty USD as savior.
Bitcoin will be linked to that thar 'mestick turra= anti USA( and closed like a gas station with a leaky fuel tank)

 

[frigidweirdo]

So I bought some bitcoin a few years ago, the price was about 300 USD a coin at the, and I bought 1/2 a coin for around 150. Really for me, it wasn’t about making money, but more having another outlet I can quickly move my money too that I had complete control over, not a bank, not a government, but me...

Now that one50 a few years ago, is now worth 3600. And the price just keeps going up and up it’s nuts. Damn am I happy I got into it then. And I thought about cashing out when It was 4000, damn am I happy I did not cash out then either..

yes, you were lucky to get it then, however the more people use it as an investment, the more it will stop going up and up and will be more volatile.

 

[Fueri]

CME announced it will start trading bitcoin futures is what fueled the latest pop. A failed fork caused a correction, but it's headed back up.

Some say this futures trading will give traders greater latitude to short, so we may see some volatility when that fires up, although that option has been there for a while really.

In the longer term most people expect this, and options trading on the CBOE, to open the door for bitcoin etfs, so I'd agree it's a buy, even at these prices...YMMV, of course...

 

[fncceo]

the more it will stop going up and up and will be more volatile.

Going 'up and up' is also volatility.

 

[AvgGuyIA]

A Ponzi scheme. What backs up the currency? The word of its Jap inventor?

 

[Fueri]

A Ponzi scheme. What backs up the currency? The word of its Jap inventor?

 

[waltky]

possum n' Uncle Ferd usin' Granny's bitcoins to play checkers inna other room...

Bitcoin breaks through the $16,000 mark
7 December 2017 - Bitcoin has breached the $16,000 mark, extending the digital currency's record-breaking surge.

The cryptocurrency began the year below $1,000 but continues to rise despite warnings of a dangerous bubble. According to Coindesk.com, Bitcoin reached $16,663.18 (£12, 358.35), having soared over 50% in a week. The new high comes days before the launch of Bitcoin futures on two exchanges, including the world's largest futures exchange, CME. Spread betting firm CMC Markets said the rise had all the symptoms of a bubble market, warning "there is no way to know when the bubble will burst".

What is Bitcoin?

There are two key traits of Bitcoin: it is digital and it is seen as an alternative currency. Unlike the notes or coins in your pocket, it largely exists online. Secondly, Bitcoin is not printed by governments or traditional banks. A small but growing number of businesses, including Expedia and Microsoft, accept bitcoins - which work like virtual tokens. However, the vast majority of users now buy and sell them as a financial investment. The digital currency's rapid ascent from around $1,000 at the start of the year has put it in the spotlight. Critics have said Bitcoin is going through a bubble similar to the dotcom boom, whereas others say it is rising in price because it is crossing into the financial mainstream.

At the start of the year Bitcoin was valued below $1,000​

Financial regulators have taken a range of views on the status of digital currencies and their risks. The UK's Financial Conduct Authority warned investors in September they could lose all their money if they buy digital currencies issued by firms, known as "initial coin offerings". But last week a US regulator agreed to let two traditional exchanges, CME Group and CBOE Global Markets, begin trading in Bitcoin-related financial contracts. The announcement from the Commodity Futures Trading Commission (CFTC) that it will allow investors to buy and sell "future" contracts in bitcoins - an agreement to buy the crypto-currency, for example, in three months time at a certain price - was seen as a watershed moment for Bitcoin.

Cambridge Global Payments director of global product and market strategy Karl Schamotta said that move was behind the latest rally: "The perception in households around the world that the CME and the CBOE are providing legitimacy to Bitcoin is really what is driving the massive rally here." But Leonhard Weese, president of the Bitcoin Association of Hong Kong, said the rise in Bitcoin's value was "mostly motivated by fear of missing out and greed". Bitcoins are created through a complex computer process known as mining, and then monitored by a network of computers across the world. A steady stream of about 3,600 new bitcoins are created a day - with about 16.5 million now in circulation from a maximum limit of 21 million.

Bitcoin breaks through the $16,000 mark

 

[SassyIrishLass]

It's a bubble that's going to pop. It's inevitable.

 

[Zander]

I prefer gold and silver.

 

[iceberg]

I prefer gold and silver.

yep. when it comes to this i'll go physical assets over virtual.

for gold and silver, i want physical also, not a "gold note" that is resold a dozen times over.

 

[Vastator]

So I bought some bitcoin a few years ago, the price was about 300 USD a coin at the, and I bought 1/2 a coin for around 150. Really for me, it wasn’t about making money, but more having another outlet I can quickly move my money too that I had complete control over, not a bank, not a government, but me...

Now that one50 a few years ago, is now worth 3600. And the price just keeps going up and up it’s nuts. Damn am I happy I got into it then. And I thought about cashing out when It was 4000, damn am I happy I did not cash out then either..

Im thinking about getting some; however... Things like this hack are quite disconcerting.
Hackers steal $64 million from cryptocurrency firm NiceHash

 

[Windparadox]

`
`
Unlike banks which can be robbed, your bitcoins are a safe investment - Hackers Steal $70 Million in Bitcoin

 

[sakinago]

So I bought some bitcoin a few years ago, the price was about 300 USD a coin at the, and I bought 1/2 a coin for around 150. Really for me, it wasn’t about making money, but more having another outlet I can quickly move my money too that I had complete control over, not a bank, not a government, but me...

Now that one50 a few years ago, is now worth 3600. And the price just keeps going up and up it’s nuts. Damn am I happy I got into it then. And I thought about cashing out when It was 4000, damn am I happy I did not cash out then either..

Im thinking about getting some; however... Things like this hack are quite disconcerting.
Hackers steal $64 million from cryptocurrency firm NiceHash

The technology behind bitcoin, “blockchain” is virtually unhackable. These private companies in bitcoin can be hacked, just like your bank, target, Uber, etc. This company is a small mining outfit, and just like anything else dealing with computers, you have to be responsible for your security, these guys weren’t, and they lost a lot of money. (Let’s remember how much they made just mining!). If you are worried about security with your bitcoin, do not leave it on exchanges, the exchanges/miners/etc are targets for hacking, like banks, target, Uber, etc. Move your bitcoin into your own wallet, with control of you’re own keys. There are ways to make your own bitcoin unhackable. Coinbase is a very secure exchange, but it doesn’t take long to give yourself that extra piece of mind taking control of your own key.

I will say, the stories out there about this, are trying to make bitcoin sound like hackers are going to steal your money at any time. NO, if you are careful, like you are in every other aspect of your internet security, you will be fine. If bitcoin reaches its potential, it could eliminate the need for most of our personal info being out there on the web, since it’s anonymous, secure, and there’s zero chance for fraud/double-payments/ and all that type of junk since it’s like having 10s of millions of accountants, all checking each other’s ledgers making sure they are correct.

These stories being framed this way, leaving out facts that this is just a small mining outfit, and trying to make them sound like a “bitcoin firm,” tell me that BTC is threatening the status quo. And it’s scaring banks (which bitcoin directly goes after), and basically the traditional money establishment.

 

[Zander]

I prefer gold and silver.

yep. when it comes to this i'll go physical assets over virtual.

for gold and silver, i want physical also, not a "gold note" that is resold a dozen times over.

I have bags of 90% "junk" silver that will come in real handy should the "Shit hit the fan".

 

[iceberg]

I prefer gold and silver.

yep. when it comes to this i'll go physical assets over virtual.

for gold and silver, i want physical also, not a "gold note" that is resold a dozen times over.

I have bags of 90% "junk" silver that will come in real handy should the "Shit hit the fan".

I've got over 100oz silver in varied forms, junk included.

 

[g5000]

So I bought some bitcoin a few years ago, the price was about 300 USD a coin at the, and I bought 1/2 a coin for around 150. Really for me, it wasn’t about making money, but more having another outlet I can quickly move my money too that I had complete control over, not a bank, not a government, but me...

Now that one50 a few years ago, is now worth 3600. And the price just keeps going up and up it’s nuts. Damn am I happy I got into it then. And I thought about cashing out when It was 4000, damn am I happy I did not cash out then either..

Classic bubble.

Tulip mania.