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Bitcoin Nears $17,000 After Climbing About $4,000 in Less Than a Day
As economists attempt to make sense of Bitcoin, the cryptocurrency rocketed above $17,000 for the first time moments ago, adding about $4,000 to its price in fewer than 24 hours. Security reporter Brian Krebs tweeted on Thursday, "Closing in on $17k per bitcoin now (mind you, it was almost at $16k less than an hour ago. This is totally fine." Late Wednesday, finance author Ben Carlson wrote: Bitcoin has achieved something I've always wanted to see in the stock mkt - a reverse 1987 (20% gain in a single day)
They are (or maybe already have) going to allow trading of Bitcoin futures. If you strongly feel it is destined to crash, you can make a lot of money here.
Every market will crash. Event the best investment will go south if you wait long enough. There are no horse and buggy companies anymore. Eventually grows and then fades.
The only thing that matters is getting in and out at the right time.
Mike @ The Geek Pub. Let's Make Stuff!
Regardless of what it goes to, BTC is so unstable that it is less of an investment than a gamble.
My biggest worry about this hype is that is kills cryptocurrencies completely, if BTC falls over.
Bitcoin is a "v1.0" currency. The fact that you have to run through 150+ gigs of blockchain transactions, and it can take days to have a transaction succeed is worrisome, and these numbers are not going down. One cannot really use it for microtransactions unless one tacks on an additional percentage to get parties to put the transaction at a higher priority than normal.
"Rational"? Really? I do not think it means what you think it means.
Every time I look at this chart I think: "Tulip bulbs"... of course there is once again no shortage of people telling me this is completely sustainable and will go on forever.
You mean comparing two things that achieved something nobody thought could or should happen? Seems reasonable to me.
(Remember: Bitcoin only redistributes money, it doesn't ever create anything of tangible value)
The NYSE and NASDAQ only redistribute money also. Do they not create anything of value?
WTB [sig], PST!!!