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Bitcoin Just Surged Past $4,000. TechCrunch Explains Why (techcrunch.com)
Saturday night TechCrunch reported the following about Bitcoin:
24 hours ago the cryptocurrency was trading below $3,700. About an hour ago it surged passed $4,000 and has no signs of stopping. It's now trading around $4,135.00. For reference, a week ago Bitcoin hit an all-time high as it passed $3,000 for the first time... So the million-bitcoin question is, why now...?
Two weeks ago Bitcoin went through a hard fork, and came out essentially unscathed... A few days later Bitcoin locked in SegWit, a code modification that fixes malleability issues and frees up space in blocks, allowing for more transactions to be stored in each one. These two code-related developments have helped boost conference in Bitcoin's future. Another reason -- the ICO frenzy. The amount recently raised via initial coin offerings have now (at least temporally) topped amount raised via early stage venture capital. Just last week Filecoin raised $180 million in a few hours. Most investors have to convert fiat currency to bitcoin or other cryptocurrencies to participate in ICOs, which could be driving up the price (and providing some investors with their first taste of bitcoin). Another reason -- Wall Street's new obsession is bitcoin.
Two weeks ago Bitcoin went through a hard fork, and came out essentially unscathed... A few days later Bitcoin locked in SegWit, a code modification that fixes malleability issues and frees up space in blocks, allowing for more transactions to be stored in each one. These two code-related developments have helped boost conference in Bitcoin's future. Another reason -- the ICO frenzy. The amount recently raised via initial coin offerings have now (at least temporally) topped amount raised via early stage venture capital. Just last week Filecoin raised $180 million in a few hours. Most investors have to convert fiat currency to bitcoin or other cryptocurrencies to participate in ICOs, which could be driving up the price (and providing some investors with their first taste of bitcoin). Another reason -- Wall Street's new obsession is bitcoin.
Simple.
In a mason jar under a floor board.
ICO frenzy? Dot-coin bust? I have to be honest. I didn't think it would run this long. Well-played, guys; but nobody rings a bell at the top. However, we probably haven't hit the stage yet where we have Uber drivers giving hot ICO tips. If there's a counterpoint to the "nobody rings a bell" claim, it's the ol', "got out when the shoeshine boy offered a stock tip" story.
For all intensive purposes, "whom" is no longer a word. That begs the question, "who cares"?
just different group, this time it's geeks (though the Wall Street gang is getting in on things I see).
AC comments get piped to
Extraordinary Popular Delusions and the Madness of Crowds
No affiliate link, just a public service!
Because the world is fucking coming to an end. The guys with nuclear launch codes are waving their dicks at each other, the bees are all dead and Nazis are marching in the streets with tiki torches from their moms' backyards.
So why shouldn't wealth be made out of nothing? Me, I'm holding out for TrumpCoin.
You are welcome on my lawn.
being green.
Bitcoin is becoming highly centralized. The entire concept of a work-proof authenticated blockchain is unnecessarily complicated: In a centralized system, it doesn't provide a benefit over simply publication of a sequence of "official" hashes as blocks are added to the blockchain. It's an attractive concept, but it fails to account for people's tendency to delegate to authority.
Wall Street's obsession isn't BitCoin. It's blockchain technology. They're seeing it as a cure for thousands of unrelated issues.
BitCoin isn't even their focus. The software is freely available. They're looking to make their own forks (multiple) of LiteCoin and go from their.
Source: Friend is a Vice President at a Wall Street firm. I can't talk to him for five minutes before he moves the conversation to blockchain technology.
Help! I'm a slashdot refugee.
One Bitcoin is still only about 10% of the value of a single tulip bullb in 1636/7. Got someway to go yet.
These coins are in massive bubble right now from speculators and are on rather shaky ground legally as they enjoy legislatures ignorance on how the whole thing works.
As a store of value, cryptocurrencies are trash. As a speculative investment vehicle, you can damn well be sure some of us are flipping each leg up for profit.
boost conference
Really???
I mined two bit coins about 7 years ago on my workstation at the office. When I quit my job, I took my non-work hard drive with me. It's in a box sitting in the garage.
If I dig it out, I still remember the password of my wallet. If I recover those coins, are they still valuable or has the currency changed in some way that would render the wallet obsolete?
are holding up the price. It's funny to think that if drugs were legalized the value of bitcoin would probably halve and if (when?) the governments get around to cracking down on ransomeware that'll take the other half.
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They're worthless. A liability in fact. Luckily for you though I'm destroying some of my own later. If you chip in, say, 30 bucks for gas and expenses, I'll take your as well.
i like to suck it 3
Because he's the first US president to openly support LGBT rights prior to being elected?
Corporations, government agencies, hospitals and more are stockpiling Bitcoin because of Ransomware attacks. That's 100% the explanation for the rise in value. This is why we need to make owning, buying and selling bitcoin illegal. If we made it illegal, these organizations would be forced to sell destroying it's value. If it's valueless, and no one is legally able to buy it, then the Ransomware attacks will go away. Cash is much, much harder and more dangerous for Ransomware writers to collect.
1849. Relive history. Again.
"one may pay a price that seems "foolishly" high because one may rationally have the expectation that the item can be resold to a "greater fool" later."
How easy is it to turn bitcoins into Euros, Pounds or Dollars? A cursory search shows limits of around 3000K $ per day, so even 300K worth would take about 3 months, and 3 million $ around 3 years. It would seem to be a forced buy and hold investment with a lot of downside risk if it crashes; or even if a lot of people start cashing out which would drive the price down. Is there an easy way to turn say 1 million of bitcoin to Euros, Pounds or Dollars? You want to get out before a large sell order drops the price significantly. can exchanges cover say 1000 people pulling out 3000k at once? Will they commit to the price at the time of the request or recalculate the value due to a price drop?
I'm a consultant - I convert gibberish into cash-flow.
Its not a 'currency' never has been does not in any way fit the definition of a currency its a virtual commodity. Get over it. http://www.win-vector.com/blog... If anything the last 6 months has shown why its too volatile for normal people to contemplate getting into. Of course welcome wall street ponzi-scheme into the mix, its like a big homeopathic cures conference, no shortment of excited con-artists. Eventually the gig will be up. This will happen when some governments legislate, taxes it in some form and the special interest from the community most interested in the technology will be circumvented. (was to avoid tax wasnt it ;-)
If i wanted a commodity that's virtual and takes big oh NP complexity to mine it would have been good if all that energy mining the blocks also cured cancer, looked for ET or some other things . (Hint did something useful)
Why bother? They belong to your ex employer anyway.
if you can move the coins in that wallet you'll be $8000,- richer at the current exchange rate. Go dig up your box!
You'll need a current client, but as long as it can understand the key format of your wallet, you have access to your bitcoins.
Here's some data which essentially completely confirms a lot of it is money laundering.
News from late Nov 2016
https://www.google.com.au/sear...
Reaction to said news (click 1 year on the chart)
https://www.worldcoinindex.com...
.
.
.
Now, see this news also, Feb 2017
https://www.google.com.au/sear...
See the reaction in other digital currrency markets (again, click the 1Y chart)
https://www.worldcoinindex.com...
https://www.worldcoinindex.com... -- *(!!)
Now, finally look at your local property prices, especially if you live in Vancouver, Toronto, London, Sydney, Melbourne, Auckland. .nothing. short of utterly astounding. I repeat, *utterly astounding*, to the complete and utter detriment of the locals under 40 / 50 who don't own a place, they're boned. no chance now.
Any way money can be gotten out of China, it will be by the wealthy / ultra wealthy. The change to my city in the past 5 years, is
* .particularly. telling, that coin was the "b tier" coin to bitcoin, the silver to gold if you will. Like bitcoin, it had a big run several years ago and then, it died off to a stagnant level, logically so too, why should there even be more than 1 digital currency? .booming.insanely. in Mar 2017.
Regarding litecoin, this one is
So here's a coin which has settled to a flat, sensible price, then due to talk of China making some moves against BTC exchanges in Feb 2017, is suddenly
Most of the world buy their goods from there, we're sending our money to China en-masse, immense amounts of it, the wealthy there, are in turn getting out of the country and picking up the premium property around the world. Can't blame them to be honest, devastating for some of the locals though (myself included)
I'm not exactly sure why conferences need a boost, given how obsessed some managers are obsessed with them.
bitcoin is...$ in the bank :)
Does anyone know if this is a typo (i.e. confidence, or possibly conferrence (and if the latter, should the sentence not read "conferrence of Bitcoin's future"?), or if this is some very strange colloquial definition of the word? I've never heard this word used this way before, but I don't regularly follow investment or economic-related subjects or trends. Legit question BTW, no trolling intended.
For fucks sake stop saying surge. If it is surging it's been doing so since it's inception, give or take. Please somebody find a different noun.
Also some may be opting to pull it out into gold or other things, there are now gold for bitcoin places
There is even a gold-backed blockchain (you can read my little write-up about it here).
Bitcoin may be in a bubble. But honestly most of the hype is not around Bitcoin itself. Bitcoin is not a store of value, and offers little utility. Other blockchains are doing more useful things. The Ethereum blockchain is finding many powerful uses, but as its price as a coin as somewhat settled recently, people are less interested in trading it.
The Bitcoin bubble will eventually burst. The best blockchains, those that provide real utility, will live on.
-IOVAR Web Dev Platform
Need to short this thing.
I'm starting to think the Fed is largely responsible for fueling the current bubbles, including Bitcoin. Artificially low interest rates, expansion of the money supply, Quantitative Easing in its various iterations (version 1, 2, 3, and now 4 coming).
Ever watch the movie Big Short? It explains the 2007 housing bubble but puts the blame on evil bankers and their subprime loans + mortgage-backed securities. Well yes the bankers are greedy and probably evil, but the movie misses the point -- the ultimate driver of the bubble was Fed flooding the market with easy money. If the cheap money wasn't there, bankers wouldn't gamble so recklessly. Then once the housing bubble took off and home prices just kept going up, loaning more of the cheap money to low-income people with no hope of ever paying it back seemed OK because house prices were rising so fast that the equity in the house would cover everything. Of course they didn't consider the possibility that housing prices might fall...
Fed should not have the power to set interest rates, interest should be determined by free market forces. Note how they *never* set the interest rate above what would be a reasonable market rate, it's always below.
Because queers understand that they just need equality for law and the best way to solve this is to actually punish acts of violence in general. And maybe they understand that what they don't need is to be put in the role of the poor victims of white patriarchy with a totalitarian government that tries to control what people think and feel?
They are still valid bitcoins, the protocol will always keep compatible with previous versions, nobody can "Lose" coins that way.
I would be more worried of the working state of a hard-drive sitting idle during 7 years...
Before bitcoin or the small central American country collapses?