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

[Mayday]

Smells of money laundering.

Some people have spastic money in crypto that they don’t want to sell the coins on exchanges but instead buy collectibles.

We haven’t yet hit the inflationary period yet during which collectibles will skyrocket to the moon.

That artwork will be 100M in no time plus it’s 100% an original so no questions around authenticity which is artwork’s biggest roadblock.

I think AR and VR artwork is where the true market value is.

[Griffith]

On Instagram I follow several photographers and digital artists and lately I’m seeing a lot of them selling NFT’s. All of it is priced in ETH. Some of the larger accounts have sold their work for millions, others for a few hundred dollars.

One with a modest following of about 40k recently sold a photo for 0.5 ETH. Not a large amount of money but this is just a hobby photographer who has sold a photo for considerably more than if someone bought a print. And he will keep making money from that photo if it is sold again in the future.

[Teutonic Knight]

$ 57,275.00

That's nice , but which American bank would give $ 57 K for imagination like gibcoins   . 

[Humble Narcissist]

That's nice , but which American bank would give $ 57 K for imagination like gibcoins   . 

None, or they'd be doing it.

[obsidian]

None, or they'd be doing it.

If your Bitcoin is on Coinbase or Binance.us you can easily sell to fiat (at 57k per BTC or whatever the current price is) and transfer it to your bank account. But there is a limit amount of fiat that you can send per day. You can sell all the Bitcoin to fiat at once but the withdrawal from Coinbase will be reduced. The rest will be held in your account on Coinbase - kind of like your bank account. Do you withdraw all your money from your bank account often?

Coinbase might raise the withdrawal limit if you contact them.

My bank had no problem sending $10,000 to Coinbase in 2017. So why would they have a problem receiving it lol?!

[obsidian]

https://www.bloomberg.com/news/articles/2021-03-11/beeple-everydays-nft-sells-at-art-auction-for-60-million-paid-in-ether

An NFT Sold for $69 Million, Blasting Crypto Art Records

The NFT, minted by the artist Beeple, was created just last month—and Christie’s is now accepting total payment in Ether.

On Thursday, a digital artwork less than a month old hammered for $60.25 million at Christie’s in New York, shattering every previous record set for the medium and pushing the NFT market into the price range of blue-chip masterworks. With buyer’s premium the total comes to $69 million.

Everydays: the First 5,000 Days is a mosaic of every image that artist Mike Winkelmann, who goes by the name Beeple, has made since 2013. The artwork is attached to a non-fungible token (NFT), a digital certificate of authenticity that runs on blockchain technology. Unlike some of his other artworks, Everydays doesn’t come with anything physical (a box, a plaque) attached. Bidding opened at $100 on Feb. 25.

“The first day of bidding was one of the most magical events in my auction career,” says Noah Davis, a specialist at Christie’s who organized the sale. “I’ve never seen anything like it.”

What’s an NFT?

In the first eight minutes of bidding, Davis says, about 20 bidders pushed the work to $1 million. “Only three [of the bidders] were known to us previously.”

The buyer of the work was not immediately known, but Davis says that “there have been a handful of really dogged, really serious clients pursuing it, and they are mostly people who are very steeped in crypto.

“Whether that means they’re early investors in crypto, or they run and operate businesses that have significant investment in crypto technology,” he continues, “they’re all very savvy, ‘#online’ people.”

Paying With Cryptocurrency

When Christie’s announced the sale last month, it made waves when it revealed that it would accept cryptocurrency as payment; the caveat was that the buyer’s premium had to be in a traditional currency.

But as the days went on and people continued to push the price even higher, that policy changed.

“We are accepting [a buyer’s premium of] Ethereum for this purchase,” Davis says. “I feel like that’s actually the biggest deal of this whole thing, secretly.”

Speaking a day before the sale closed, Davis said he was “90% sure” that the final buyer would be paying in cryptocurrency. Christie’s didn’t immediately confirm if that was the case once the sale concluded.

Given the wild volatility of cryptocurrencies, Christie’s may be taking a risk accepting its premium in Ethereum. The second-biggest digital coin lost 50% of its value on Feb. 22, sinking as low as $700. As of 10:11 a.m. EST on Mar. 11, Ether was trading at $1,815 to the dollar, a roughly 160% growth over the prior week.

This sale is the latest in a whirlwind boom in the market for NFTs. Beeple’s previous record was set in late February, when a work that someone had purchased just months earlier in October for $66,000 sold for $6.6 million—a 9,900% growth. Before that, his record stood at $777,777.777, which was set in January. A year before that, he hadn’t sold a single artwork.

The $60.25 million sale isn’t just an unprecedented price for an NFT, it’s an unprecedented price for a new artist, period. It puts Beeple’s Everydays in the same range as major works by giants of  art history. A still life by Vincent Van Gogh sold for $16 million at Sotheby’s last October; the year before Christie’s London sold a striking late oil painting by Picasso, Homme et Femme Nu for $15.6 million.

Davis says this is just the beginning. “It’s a huge shot in the arm for the business generally, when you have a sale result like that,” he says. “I think we will have really compelling and exciting NFT-based art opportunities at Christie’s in the near future.”

Yes I saw that! Beeple is like a modern Salvador Dali. Dude has a wild imagination and he churns his digital painting out in a few hours. He says he has a large database of 3d files which allows him to quickly slap thing together. Even then it is impressive what he does. I know a bit about 3D and 2D computer graphics / art and it would take me more than a day to create his images. Perhaps if I started doing it full time I would get faster.

Here's some of his work...









And him working...

[Humble Narcissist]

If your Bitcoin is on Coinbase or Binance.us you can easily sell to fiat (at 57k per BTC or whatever the current price is) and transfer it to your bank account. But there is a limit amount of fiat that you can send per day. You can sell all the Bitcoin to fiat at once but the withdrawal from Coinbase will be reduced. The rest will be held in your account on Coinbase - kind of like your bank account. Do you withdraw all your money from your bank account often?

Coinbase might raise the withdrawal limit if you contact them.

My bank had no problem sending $10,000 to Coinbase in 2017. So why would they have a problem receiving it lol?!

And yet no one seems to be doing that.

[FitnessFrenzy]

[Teutonic Knight]

If you take the view that BTC is going to be a major global currency, then short term tops and bottoms etc are irrelevant. Simply buy, hodl, and wait...

So U see the future  , but could not predict results of return to Africa 

Oh, dear 

[Theoak*]

And yet no one seems to be doing that.

Apart from all the people  I know in crypto including  myself.

[Mayday]

And yet no one seems to be doing that.

I have done transfers for several hundred thousands off exchanges into bank accounts.

The irony is the multi billion dollar bank I use which is the largest in the country has a 100k/day transfer limit and yet the exchange which is significantly smaller has a 50k/day limit.....yet people still want to cling to the idea that crypto is sketchy.....

Within 3yrs we will have multiple crypto banks offering 4% interest loans against BTC while our BTC averages 100% increase a year...... meaning in the near future those who purchased early won’t need to sell BTC anymore and what do you think that does to prices?

The world just broke. The initial crypto models just broke. This is why my view changes drastically because the window of opportunity is so damn small now.

FFS gib will be an overlord by 2025.....fucking gib.....  lol

[obsidian]

And yet no one seems to be doing that.

Some are.

I have not yet. Because it would be pointless to convert to fiat and see it depreciate. I will convert some to fiat this year though because I want to deduct my mining equipment and electrical expenses when it is time to pay taxes. It should cancel out to where I don't have to pay any taxes. I'll let you know if I had a problem.

[Theoak*]

I have done transfers for several hundred thousands off exchanges into bank accounts.

The irony is the multi billion dollar bank I use which is the largest in the country has a 100k/day transfer limit and yet the exchange which is significantly smaller has a 50k/day limit.....yet people still want to cling to the idea that crypto is sketchy.....

Within 3yrs we will have multiple crypto banks offering 4% interest loans against BTC while our BTC averages 100% increase a year...... meaning in the near future those who purchased early won’t need to sell BTC anymore and what do you think that does to prices?

The world just broke. The initial crypto models just broke. This is why my view changes drastically because the window of opportunity is so damn small now.

FFS gib will be an overlord by 2025.....fucking gib.....  lol

We already have such crypro banks, although there is risk involved. They offer 12% loans and 6% interest on your coins. I have a sizeable amount already accuring interest daily.
As the space/competitiom expands those loan rates will come down to your 2-4% as you mentioned.

[gib]

And yet no one seems to be doing that.

I believe many people including myself have answered this for you many times. I personally know people have done million dollar transactions with bitcoin, including receiving cash into their bank accounts, and send from bank accounts to exchanges. It happens every day, all day. What part of this do you struggle with?

[gib]

haven't read this thread since 2019

so any bitcoin millionaires here?  i remember quite a few of you had bitcoin back in those days

E

Yes. One here, the dude that started this thread. I'm sure there are others also. I now have 47.3 BTC. So at say 55K per coin that's around $2.6m.

I do plan to buy the extra 0.7 of a BTC to get to full 50.

[gib]

I have done transfers for several hundred thousands off exchanges into bank accounts.

The irony is the multi billion dollar bank I use which is the largest in the country has a 100k/day transfer limit and yet the exchange which is significantly smaller has a 50k/day limit.....yet people still want to cling to the idea that crypto is sketchy.....

Within 3yrs we will have multiple crypto banks offering 4% interest loans against BTC while our BTC averages 100% increase a year...... meaning in the near future those who purchased early won’t need to sell BTC anymore and what do you think that does to prices?

The world just broke. The initial crypto models just broke. This is why my view changes drastically because the window of opportunity is so damn small now.

FFS gib will be an overlord by 2025.....fucking gib.....  lol

Ha ha. Lol. Well I always said everyone should just make sure they own at least one coin. That's still my view. Get some Sats, and hodl.

Regarding bank limits, this may be up to the limits you have set with the bank? Or is it set by the bank? I have accounts with banks in multiple countries. Never had an issue transferring money in, or out, of any limit whatsoever (unless I myself had set a max payment out limit with the bank). Some banks have asked about the source of funds for larger incoming amounts though. I'm not a trader, but the exchange I use has a limit of 2m per person cash out per day for non-institutional customers.

[Bindare_Dundat]

wow, blast off baby. Amazing trading experience this has been.

[gib]

wow, blast off baby. Amazing trading experience this has been.

Hodl on tight and enjoy the ride. Will not always be one way, but obviously over time likely will be very much and very significantly upwards.

[Mayday]

59.3k let’s fucking go!!! 

Next stop 80k!

[gib]

59.3k let’s fucking go!!! 

Next stop 80k!

Yeah Buddy! Nothing but a Satoshi...

[Bindare_Dundat]

 
2 days of plus 45% and one day plus 37%. I'm happy.

[FitnessFrenzy]

$ 59,560.96

[Bindare_Dundat]

Still going. could be 70k in a couple of weeks.

[affeman]

Still going. could be 70k in a couple of weeks.

or 7k lol

[Mayday]

or 7k lol

Price floor is already above 41k.

There is so much buying pressure we didn’t even have a dead cat bounce this time. Down and straight back up to ATH.