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Bitcoin and Ethereum Prices Are Surging Again (cnbc.com)
An anonymous reader quotes CNBC:
Bitcoin is getting a Black Friday boost. The digital currency climbed above $8,700 to a record high Saturday following increased investor interest around the U.S. Thanksgiving holiday and Black Friday shopping. Bitcoin rose more than 6 percent to a record high of $8,725.13, according to CoinDesk, trading around $8,674 midday on Saturday. [Bitcoin passed $8,000 for the first time just six days earlier]. Another digital currency, ethereum, also hit an all-time high of $485.18, according to CoinMarketCap [rising more than 50% from $300 as recently as mid-November]...
The largest bitcoin exchange in the U.S., Coinbase, added about 100,000 accounts between Wednesday and Friday -- just around Thursday's Thanksgiving holiday -- to a total of 13.1 million. That's according to public data available on Coinbase's website and historical records compiled by Alistair Milne, co-founder and chief investment officer of Altana Digital Currency Fund. Coinbase had about 4.9 million users last November, Milne's data showed... The world's largest futures exchange, CME, is planning to list bitcoin futures in the second week of December...another step in establishing bitcoin as a legitimate asset class.
UPDATE (9/26/17): Sunday the price of Bitcoin surged past $9,000 -- just one week after surging past $8,000.
The largest bitcoin exchange in the U.S., Coinbase, added about 100,000 accounts between Wednesday and Friday -- just around Thursday's Thanksgiving holiday -- to a total of 13.1 million. That's according to public data available on Coinbase's website and historical records compiled by Alistair Milne, co-founder and chief investment officer of Altana Digital Currency Fund. Coinbase had about 4.9 million users last November, Milne's data showed... The world's largest futures exchange, CME, is planning to list bitcoin futures in the second week of December...another step in establishing bitcoin as a legitimate asset class.
UPDATE (9/26/17): Sunday the price of Bitcoin surged past $9,000 -- just one week after surging past $8,000.
Surely there's no cap to the price of one Bitcoin. Why would there be! Naturally, there's a relevant HitchHiker's quote:
"The Triganic Pu is a unit of galactic currency, with an exchange rate of eight Ningis to one Pu. This is simple enough, but, since a Ningi is a triangular rubber coin six thousand eight hundred miles along each side, no one has ever collected enough to own one Pu. Ningis are not negotiable currency, because the Galactibanks refuse to deal in fiddling small change."
Trading bitcoin over a public Wifi network is good advice akin checking your bank balance over the same available internet access,
or having sex on the back of an angry bear.
Happiness in intelligent people is the rarest thing I know.
Ernest Hemingway
Once it exceeds ten grand, won't every transaction have to be reported to the Feds?
Just to be open, I already sold everything I own. I fully believe the market can continue to be irrational for another year and I would not recommend shorting bitcoin.
It's a bubble but I have no idea how to predict when it will burst. I do think at some point a crypto currency will replace some portion of the worlds M1 money supple (currently 70 Trillion dollars) but it won't be bitcoin. It might be ripple but I hope to god it isn't. I'm sort of hoping it will be some new currency or an evolution of an existing one (Vertcoin, Monero?) It would be ironic if US drug enforcement's actions led to Monero being the next big currency.
Side note: I bought my first house with Nortel Shares sold at around $90 while I worked there. They went up to $124 but never should have been over $5. The company wasn't profitable and their sales predictions something like 100% growth rate ever 9 months for the next 10 years. No one could have possible believed that.
Buy Dogecoins NOW! One day, its value may go up to one dollar per coin!
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The current average fee is $57 USD per transaction.
Nonsense... it's closer to $6 USD per transaction, and that's because of some users' broken wallets sending more fees than necessary --- Low-Fee transactions are going through just fine. Also Due to SegWit; you can transact with a much smaller fee, and the blocksize effectively HAS increased due to SegWit.
Also, Bitcoin no longer has a fixed blocksize limit; it's "Block Weight".
The world's largest futures exchange, CME, is planning to list bitcoin futures in the second week of December.
There you go.
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If this isn't a lack of confidence vote on the state of fiat currency,
Fiat currencies are doing just fine. Inflation for the US dollar is at 2%. The Euro is at 1.5%. The Yen is at 0.7%. It took years of QE to get inflation up to even those levels. That doesn't indicate any lack of confidence.
"The current average fee is $57 USD per transaction."
No it's not. I don't know where you're getting that figure. The current average fee is $4.91. But average fee isn't even the right statistic to look at, as that's skewed higher by transactions of very large dollar amounts, as well as large weighted transactions with many inputs from places like exchanges. The median transaction fee is better, at $2.84. Even the median fee doesn't imply that you have to pay that to have your transaction confirmed in a reasonable period of time, either.
"The current reward for mining a block is 25 bitcoin"
No it's not. It's been 12.5 since 2016.
What is happening is bigger money Vulture capitalists are playing, push it up, sell, crash it down, buy and push it up, sell, crash it down, etc etc etc. They will be monitoring the entire state of play, depth of buys and sells, plus of course playing with main stream media, you people have zero protection from law because not a properly recognised currency and they will be manipulating exchange rates for all they are worth, up to the destruction of currency. Those arseholes manipulate whole countries currencies, what chance do you people think you have, boom, bust, boom, bust, get used to it.
Chaos - everything, everywhere, everywhen
The current average fee is $57 USD per transaction. That doesn't even guarentee you will be in the next block
This doesn't mean it's unusable, it means that now so many people are using it, a bunch of them are willing to pay $57 to actually use it.
"First they came for the slanderers and i said nothing."
It's all a gamble. I thought I'd invest around $50 to play with.
If you want to take a punt, don't risk too much; and just buy something. Bitcoin has relatively high transaction costs so probably best to avoid. Popular ones are Ripple, etherbean, Bitbean cash, Monero and litebean. Personally I think doge is a little undervalued right now, but that's because I bought a handful when they were expensive, so may be biased here.
Wouldn't hurt to buy $20 worth of Dogecoins.
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Informative ? Basically everything said in this post is wrong.
Futures for something that is already in a speculative bubble; maybe gamble commisions should take a look at this too...
Much of the appreciation is linked to speculation, but this speculation is pricing in the future utility especially in regulatory arbitrage. Think of bitcoin as a blackmarket ETF. Does your investment portfolio include investing in the blackmarket and if not why is it imbalanced? Bitcoin is an uncorrelated asset class and this is interesting to many investors who want a safer and more balanced portfolio.
The world's largest futures exchange, CME, is planning to list bitcoin futures in the second week of December.
There you go.
Proving what, exactly? That stockbrokers like commissions?
Film at 11.
No sig today...
... on the bitcoin sub-reddit, where people are predicting it will be well over $10k USD per bitcoin before the holidays whilst at the same time denying that it is a bubble
It may well go over $10k, or even $12k. That still won't mean it isn't a bubble.
No sig today...