Bitcoins - about to hit $5,000 per coin today!

[gib]

Mine too...

It's a nice feeling

Not such a nice feeling though if you happen to be away overseas when you need access to said gold in safe...

With Bitcoin it's accessible anywhere. Instantly. And provided you know what your are doing, far more secure against risk of theft.

[HTexan]

Not such a nice feeling though if you happen to be away overseas when you need access to said gold in safe...

With Bitcoin it's accessible anywhere. Instantly. And provided you know what your are doing, far more secure against risk of theft.

Plus you can “carry” it with you just by remembering 12 words. Gold is fucking heavy plus try and carry that shit on a plane.

[gib]

Plus you can “carry” it with you just by remembering 12 words. Gold is fucking heavy plus try and carry that shit on a plane.

Exactly!

[jr]

Gold is old and useless to us now.

[SOMEPARTS]

You do realise that the banks were also shut right? And that anyone holding stocks would not be able to trade them, right? And that Gold whilst having value, was either locked away in banks, or limited with regard to how divisible it is right? Pointing to a natural disaster as an argument against the validity of a particular asset type is rather non-sensical.

As for being a unicorn, you do realise that just like bitcoins, the USD, is interely dependent on others accepting it as a payment right? Now let me ask you, long term would you prefer to use a currency that devalues, can be tracked, and heavily taxed (aka stolen) and which if you want to use outside or the US you will need to pay an exchange rate commission (more loss of value), or Bitcoin which has non of these issues?

Let me get this straight...so you're saying BTC..

can't be tracked...totally false
can't be taxed...already is if you follow the capital gains law, enjoy your future audit
isn't fee'd to get funds....totally false
does anyone accept it like the dollar...no too volatile

..and don't even mutter gold in the same paragraph.

So... ??

Is BTC deflationary? Yes, for now...as long as new money comes in. The dollar drops but at a predictable rate. Oldest game going there.

Again, crypto people assume that non-believers are stupid or not understanding of the tech. Just not true. Blinded by quick gains you all are.

[SOMEPARTS]

Buy on coinbase, hold/do Transactions on phone with breadwallet, and store on keepkey.

Sounds easy and totally legit. What could go wrong when you have tens and possibly hundreds of thousands of dollars dependent on three different applications that have been around for a few years each? Haha.

Coinbase requires so much info to buy and a wait period. So much for being untraceable.

[gib]

Sounds easy and totally legit. What could go wrong when you have tens and possibly hundreds of thousands of dollars dependent on three different applications that have been around for a few years each? Haha.

Coinbase requires so much info to buy and a wait period. So much for being untraceable.

Yes. It is easy. And yes it's totally legit. I buy and transfer coins within seconds (either using an exchange, or directly with another buyer/seller.

What could go wrong with storage apps? Lots, if you don't keep your password secure or if you forget your password.

Coinbase requires personal info. However if you transfer directly to someone it can be done anonymously.

[gib]

Let me get this straight...so you're saying BTC..

can't be tracked...totally false
can't be taxed...already is if you follow the capital gains law, enjoy your future audit
isn't fee'd to get funds....totally false
does anyone accept it like the dollar...no too volatile

..and don't even mutter gold in the same paragraph.

So... ??

Is BTC deflationary? Yes, for now...as long as new money comes in. The dollar drops but at a predictable rate. Oldest game going there.

Again, crypto people assume that non-believers are stupid or not understanding of the tech. Just not true. Blinded by quick gains you all are.

Correct. Can't be tracked if transferred directly.

Correct. Won't be taxed (provided you keep transactions direct and don't report to taxman).

Correct - When you transfer bitcoins the cost is virtually zero (yes it does require some electricity and computing power).

Not all sellers of goods services will accept it. Just like it all will accept gold. In which case if needed you can always convert btc into cash and then use the cash.

Gold is an outmoded archaic currency. We are in a massive transition in terms of people transferring allocations from gold (and cash) into electronic currencies, namely bitcoins.

[Mr Anabolic]

Correct. Can't be tracked if transferred directly.

Correct. Won't be taxed (provided you keep transactions direct and don't report to taxman.

Correct - When you transfer bitcoins the cost is virtually zero (yes it does require some electricity and computing power.

Not all sellers of goods services will accept it. Just like it all will accept gold. In which case if needed you can always convert btc into cash and then use the cash.

Gold is an outmoded archaic currency. We are in a massive transition in terms of people transferring allocations from gold (and cash) into electric currencies, namely bitcoins.

All that is refutable and I already addressed those things in this thread, so I won't waste time repeating.   

Your statement about gold being archaic is pure nonsense.  Gold has a 5000+ year track record as a store of labor and wealth.  Banks and the most wealthy people in the world hoard gold and silver, not bitcoins.  Bitcoins are digital vaporware in cyberspace. 

[polychronopolous]

They're gonna be rich.....RICH I TELLS YA!!!!

Dutch family sells everything to bet on bitcoins

The Hague (AFP) – A Dutch family has sold virtually all they own, including a business, their home, two cars and a motorbike and invested the takings in bitcoin just as the virtual currency is soaring to new heights.

“We are putting everything into bitcoin, we’ve sold everything to invest in this currency,” Didi Taihuttu told AFP.

The 39-year-old is currently living in a camping ground with his family, aiming “to put as much money as possible to one side and transform it into bitcoin.”

Having turned his back on a “materialistic life” three months ago, Taihuttu and his wife and three daughters, aged 12, 10 and seven, are living in a small holiday chalet in a camping ground in eastern Venlo and are watching their savings “grow every minute somewhere on the cloud”.

Bitcoin, a crypto currency created from computer code, was worth only a few US cents when it was launched in February 2009 by someone using the Japanese-sounding name Satoshi Nakamoto.

Unlike a real-world unit such as the US dollar or euro, bitcoin has no central bank and is not backed by any government and is not generally recognised as a currency.

But bitcoins can be exchanged for goods and services — or for other currencies — provided the other party is willing to accept them.

Last week, it surged through the $5,000 level for the first time since its launch — representing a rise of more than 400 percent just this year.

“It’s the currency of the future,” said Taihuttu, who is an IT specialist and until recently ran a company employing 16 people.

“We are taking part in a revolution, or an evolution of the monetary system,” he added, predicting that “by 2020 the bitcoin will probably be worth 25,000 euros”.

Bitcoin is traded through blockchain technology, which publicly records transaction details including the unique alphanumeric strings that identify buyers and sellers — technology which is gaining increasing currency among banks and companies.

Taihuttu and his family have “already invested tens of thousands of euros” and the money from the sale of their house will be added to it.

Should things go wrong however, he and his family will just “go back to square one”.

But if he wins his bet, Taihuttu wants to “show the world to (his) daughters and help people poorer than us with the earned money.”

[HTexan]

What could go wrong with storage apps? Lots, if you don't keep your password secure or if you forget your password.

If you’re using an app to store you bitcoins you’re doing it wrong.
“Real”money is easy stolen if you don’t keep it secure too.
What is your point?

[Mr Anabolic]

They're gonna be rich.....RICH I TELLS YA!!!!

Dutch family sells everything to bet on bitcoins

The Hague (AFP) – A Dutch family has sold virtually all they own, including a business, their home, two cars and a motorbike and invested the takings in bitcoin just as the virtual currency is soaring to new heights.

“We are putting everything into bitcoin, we’ve sold everything to invest in this currency,” Didi Taihuttu told AFP.

The 39-year-old is currently living in a camping ground with his family, aiming “to put as much money as possible to one side and transform it into bitcoin.”

Having turned his back on a “materialistic life” three months ago, Taihuttu and his wife and three daughters, aged 12, 10 and seven, are living in a small holiday chalet in a camping ground in eastern Venlo and are watching their savings “grow every minute somewhere on the cloud”.

Bitcoin, a crypto currency created from computer code, was worth only a few US cents when it was launched in February 2009 by someone using the Japanese-sounding name Satoshi Nakamoto.

Unlike a real-world unit such as the US dollar or euro, bitcoin has no central bank and is not backed by any government and is not generally recognised as a currency.

But bitcoins can be exchanged for goods and services — or for other currencies — provided the other party is willing to accept them.

Last week, it surged through the $5,000 level for the first time since its launch — representing a rise of more than 400 percent just this year.

“It’s the currency of the future,” said Taihuttu, who is an IT specialist and until recently ran a company employing 16 people.

“We are taking part in a revolution, or an evolution of the monetary system,” he added, predicting that “by 2020 the bitcoin will probably be worth 25,000 euros”.

Bitcoin is traded through blockchain technology, which publicly records transaction details including the unique alphanumeric strings that identify buyers and sellers — technology which is gaining increasing currency among banks and companies.

Taihuttu and his family have “already invested tens of thousands of euros” and the money from the sale of their house will be added to it.

Should things go wrong however, he and his family will just “go back to square one”.

But if he wins his bet, Taihuttu wants to “show the world to (his) daughters and help people poorer than us with the earned money.”

LOL!  Contrary indicator.  Gotta be close to topping now. 

[polychronopolous]

LOL!  Contrary indicator.  Gotta be close to topping now. 

I never understood that whole "Bet it all on red" mentality.

You have a home. A few dollars in the bank.

Be comfortable and enjoy it.

[SOMEPARTS]

They're gonna be rich.....RICH I TELLS YA!!!!

Dutch family sells everything to bet on bitcoins

The Hague (AFP) – A Dutch family has sold virtually all they own, including a business, their home, two cars and a motorbike and invested the takings in bitcoin just as the virtual currency is soaring to new heights.

“We are putting everything into bitcoin, we’ve sold everything to invest in this currency,” Didi Taihuttu told AFP.

The 39-year-old is currently living in a camping ground with his family, aiming “to put as much money as possible to one side and transform it into bitcoin.”

Having turned his back on a “materialistic life” three months ago, Taihuttu and his wife and three daughters, aged 12, 10 and seven, are living in a small holiday chalet in a camping ground in eastern Venlo and are watching their savings “grow every minute somewhere on the cloud”.

Bitcoin, a crypto currency created from computer code, was worth only a few US cents when it was launched in February 2009 by someone using the Japanese-sounding name Satoshi Nakamoto.

Unlike a real-world unit such as the US dollar or euro, bitcoin has no central bank and is not backed by any government and is not generally recognised as a currency.

But bitcoins can be exchanged for goods and services — or for other currencies — provided the other party is willing to accept them.

Last week, it surged through the $5,000 level for the first time since its launch — representing a rise of more than 400 percent just this year.

“It’s the currency of the future,” said Taihuttu, who is an IT specialist and until recently ran a company employing 16 people.

“We are taking part in a revolution, or an evolution of the monetary system,” he added, predicting that “by 2020 the bitcoin will probably be worth 25,000 euros”.

Bitcoin is traded through blockchain technology, which publicly records transaction details including the unique alphanumeric strings that identify buyers and sellers — technology which is gaining increasing currency among banks and companies.

Taihuttu and his family have “already invested tens of thousands of euros” and the money from the sale of their house will be added to it.

Should things go wrong however, he and his family will just “go back to square one”.

But if he wins his bet, Taihuttu wants to “show the world to (his) daughters and help people poorer than us with the earned money.”

The Dutch taking part in another tulip mania.

Perfectly timed though...did it ever occur to anyone that the banking game is to trade things of real wealth for promises? Crypto is the extreme of this.


"Gold is an outmoded archaic currency. We are in a massive transition in terms of people transferring allocations from gold (and cash) into electric currencies, namely bitcoins."


Yes, "people" are doing this...meanwhile govts, banks and billionaires are buying gold. Why would that be?

Why isn't Branson, Gates, Cuban or Musk buying it all? Do you think they don't understand the tech either - or maybe they just understand basic counterparty risks?

[gib]

The Dutch taking part in another tulip mania.

Perfectly timed though...did it ever occur to anyone that the banking game is to trade things of real wealth for promises? Crypto is the extreme of this.


"Gold is an outmoded archaic currency. We are in a massive transition in terms of people transferring allocations from gold (and cash) into electric currencies, namely bitcoins."


Yes, "people" are doing this...meanwhile govts, banks and billionaires are buying gold. Why would that be?

Why isn't Branson, Gates, Cuban or Musk buying it all? Do you think they don't understand the tech either - or maybe they just understand basic counterparty risks?

Yes it's stupid to put all ones money into one investment.

Just like Gold (which I think is a terrible investment) bitcoins should only form a small part of your overall portfolio. The thing is though, many people including many rich, don't yet have any Bitcoin at all, so even a very small movement of diversification from gold into Bitcoins will produce a huge and sustained upside in the price of bitcoins as this trend continues.

The rich, and governments are gradually selling off gold, which is why despite money printing from governments, the price of gold is falling.

[The Keto Kid]

Up 5.8% since yesterday fuck yeah!

[gib]

Boom. 6000k poised to hit today!

[gib]

Quiet Surge: Bitcoin Price Sets New High Above $6,000
Oct 20, 2017 at 15:10 UTC by Stan Higgins


Markets  •  News  •  Bitcoin  •  Markets News
The price of bitcoin has hit a new all-time high, crossing the $6,000 line for the first time.

Markets climbed as high as $6,003.81, according to CoinDesk's Bitcoin Price Index (BPI). This figure surpasses the previous all-time high set on October 13, when the price rose to $5,856.10.

BPI data shows that the price climbed more than $200 in the past hour, with markets showing an average price of $5,697 prior to the ramp. At press time, the price of bitcoin is trading at around $5,968.

Figures from CoinMarketCap.com show that some exchanges are currently reporting a price above $6,000, including Bitfinex and Bithumb, the world's two largest exchanges by volume.

Today's move pushes the network's collective market capitalization closer to the $100 billion line. At press time, according to the BPI, bitcoin's market cap is roughly $99.5 billio

[SOMEPARTS]

Yes it's stupid to put all ones money into one investment.

Just like Gold (which I think is a terrible investment) bitcoins should only form a small part of your overall portfolio. The thing is though, many people including many rich, don't yet have any Bitcoin at all, so even a very small movement of diversification from gold into Bitcoins will produce a huge and sustained upside in the price of bitcoins as this trend continues.

The rich, and governments are gradually selling off gold, which is why despite money printing from governments, the price of gold is falling.

Yet many are doing it. Good that you clarified crypto as a small part. The trend of BTC is undeniable but the end as far as how to realize and time those gains is more open ended. The rich and western govts have been selling gold for a long time, but look who it buying it all up. The East who also just happens to control the engines of mass production. It makes total sense why it's going there.

We know that BTC is "worth" 4.7 oz of gold now, but the question is which will be around in 10 years in its same form, gold or Bitcoin? The market cap of BTC x100 will not be the same animal it is now.

[loco]

The Dutch taking part in another tulip mania.

Perfectly timed though...did it ever occur to anyone that the banking game is to trade things of real wealth for promises? Crypto is the extreme of this.


"Gold is an outmoded archaic currency. We are in a massive transition in terms of people transferring allocations from gold (and cash) into electric currencies, namely bitcoins."


Yes, "people" are doing this...meanwhile govts, banks and billionaires are buying gold. Why would that be?

Why isn't Branson, Gates, Cuban or Musk buying it all? Do you think they don't understand the tech either - or maybe they just understand basic counterparty risks?

[Mr Anabolic]

Quiet Surge: Bitcoin Price Sets New High Above $6,000
Oct 20, 2017 at 15:10 UTC by Stan Higgins


Markets  •  News  •  Bitcoin  •  Markets News
The price of bitcoin has hit a new all-time high, crossing the $6,000 line for the first time.

Markets climbed as high as $6,003.81, according to CoinDesk's Bitcoin Price Index (BPI). This figure surpasses the previous all-time high set on October 13, when the price rose to $5,856.10.

BPI data shows that the price climbed more than $200 in the past hour, with markets showing an average price of $5,697 prior to the ramp. At press time, the price of bitcoin is trading at around $5,968.

Figures from CoinMarketCap.com show that some exchanges are currently reporting a price above $6,000, including Bitfinex and Bithumb, the world's two largest exchanges by volume.

Today's move pushes the network's collective market capitalization closer to the $100 billion line. At press time, according to the BPI, bitcoin's market cap is roughly $99.5 billio

You keep boasting every time it hits an new plateau.   So, how many to you have? 

I can put all my gold and silver coins on my bed and roll in them... you can't do that with bitcoins.    

[gib]

You keep boasting every time it hits an new plateau.   So, how many to you have? 

I can put all my gold and silver coins on my bed and roll in them... you can't do that with bitcoins.    

Actually you can, as with bit coins you can buy gold whenever you want (and even better wherever you want) and then roll around in gold (or cash of any currency) until you are done at which point you can convert it all back to bitcoins, which by the way look poised to pass $6100 today ...

[Griffith]

Bitcoin went down to $ 5600.

Something about a split coming up and Bitcoin Gold.

[Mr Anabolic]

Actually you can, as with bit coins you can buy gold whenever you want (and even better wherever you want) and then roll around in gold (or cash of any currency) until you are done at which point you can convert it all back to bitcoins, which by the way look poised to pass $6100 today ...

So you have one, or none?

[SOMEPARTS]

How many Bitcoin brand names are there going to be? A dilution of the brand not good considering there are 100 other cryptos.

BTC is limited to 21 million coins....okay great that is a deflationary value and one of the hallmarks of the platform...but now we have Bitcoin Cash, Bitcoin Gold, etc ... see the problem here? Dilution of brand. There are not going to be hundreds of alt coins taken everywhere and many will end up ripoffs. This is where the govt/bank issued coin will swoop in. One coin for all, and the people will love it.