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

[Mayday]

Virtual money,lol, cash is KING!

Cash is no longer accepted where i am because people don't want to handle the money.

If you have cash and no digital money in a bank, you can't buy anything here.

[SOMEPARTS]

BEARISH




"Venezuelan President Nicolas Maduro tapped crypto to conceal transactions related to illicit drug-running, the U.S. Department of Justice alleged in an indictment Thursday.

The sweeping charges against Maduro and 14 other Venezuelan officials are primarily targeted at stopping an alleged multibillion-dollar cocaine trafficking ring the DOJ claimed wreaked havoc on American communities for over 20 years. It allegedly involved drug runners, Colombian revolutionaries and narco-terrorism.

Venezuela’s crypto superintendent, Joselit Ramirez Camacho, 33, was also indicted in a separate action in the Southern District of New York."



https://www.yahoo.com/finance/news/us-says-venezuelan-president-maduro-163933555.html

[Teutonic Knight 1]

Cash is no longer accepted where i am because people don't want to handle the money.

If you have cash and no digital money in a bank, you can't buy anything here.

& where is that ............

[Theoak*]

& where is that ............

Few places in Australian now.

[Irongrip400]

I'm not really down with this whole doomsday scenario but do I feel better about Bitcoin as a hedge knowing that the United States is about to print a bunch of money and in a few weeks(May 13th tentatively) the Bitcoin mining production will be cut in half?

Absolutely.

They just shut down the mining place here and are getting sued and all of their shit repossessed.

[FitnessFrenzy]

[robcguns]

So how much is a bitcoin these days?

6800ish

[Teutonic Knight 1]

Naive question or two:

- Who own bitcoin International TM

- Who own bitcoin mold & stamp those golden coins

- Who buys gold for making those coins

- Who would pay $ 5000 for 1 of those (very small) golden coins

- Name National bank with gold reserve for bitcoins

- Etc,.  


Where is 'giby' when you need him 

[a_pupil]

still hodling, praying for a corona surge 

[denarii]

still hodling, praying for a corona surge 

can you pay taxes on shitcoin?

[robcguns]

can you pay taxes on shitcoin?

Yes you have to pay taxes when you sell them or trade for different crypto’s.im hoping for a drop on bitcoin to buy a couple more.The havening is coming May 20th I believe, should be a price surge

[FitnessFrenzy]

still hodling, praying for a corona surge 

let us hope it will act more or less like gold in that regard

[gib]

Naive question or two:

- Who own bitcoin International TM

- Who own bitcoin mold & stamp those golden coins

- Who buys gold for making those coins

- Who would pay $ 5000 for 1 of those (very small) golden coins

- Name National bank with gold reserve for bitcoins

- Etc,. 


Where is 'giby' when you need him 

Some good questions (for a change).

- Who own bitcoin International TM? No-one. Bitcoin is considered a generic term and so attempts to trademark it have failed. (Just like you can't trademark the word "CAR" for a car.)

- Who own bitcoin mold & stamp those golden coins - LOL

- Who buys gold for making those coins - LOL

- Who would pay $ 5000 for 1 of those (very small) golden coins  - Millions of people pay for BTC (or portions thereof). These are people who either wish to use the currency for a transaction, speculators who believe the value will increase in the short term, or those who wish to hold as a defense against fiat currency depreciation (or unavailability in the event of a banking collapse).

- Name National bank with gold reserve for bitcoins - we know for sure some central banks hold gold. So there is a logical step for some of these banks to also move into BTC. What we know for sure is that some very powerful people, world leaders, dictators, etc are holding BTC. Many Governments also have secret projects that will over time require and purchase Bitcoin (for various reasons).

[Mayday]

let us hope it will act more or less like gold in that regard

I'm in it for the long play as a hedge.

If there is any legitimacy for it to work and establish ground roots, it'll be during an inflationary period.

5yr-10yr timeline to go somewhere.

[Teutonic Knight 1]

Some good questions (for a change).

- Who own bitcoin International TM? No-one. Bitcoin is considered a generic term and so attempts to trademark it have failed. (Just like you can't trademark the word "CAR" for a car.)

- Who own bitcoin mold & stamp those golden coins - LOL

- Who buys gold for making those coins - LOL

- Who would pay $ 5000 for 1 of those (very small) golden coins  - Millions of people pay for BTC (or portions thereof). These are people who either wish to use the currency for a transaction, speculators who believe the value will increase in the short term, or those who wish to hold as a defense against fiat currency depreciation (or unavailability in the event of a banking collapse).

- Name National bank with gold reserve for bitcoins - we know for sure some central banks hold gold. So there is a logical step for some of these banks to also move into BTC. What we know for sure is that some very powerful people, world leaders, dictators, etc are holding BTC. Many Governments also have secret projects that will over time require and purchase Bitcoin (for various reasons).

Wiggzy U know nothing about gold & golden coins , childish talk !.

[gib]

10,000 seems back in range. Next 14 days we could see some phenomenal action on BTC.

[pellius]

10,000 seems back in range. Next 14 days we could see some phenomenal action on BTC.

What do you think is driving the prices up?

[Theoak*]

What do you think is driving the prices up?

Many things, mainly speculation the halving is priced in.  Dynamics have changed this time around, entering the halving during a black swan event so we might see a delay in price action.  I was there for last halving 2016, price actually dipped following the halving and then rocketed to ridiculous highs in the year following.

There’s a lot of uncertainty in current day financial markets,  my money is on btc and has been for 6 years.

[gib]

Many things, mainly speculation the halving is priced in.  Dynamics have changed this time around, entering the halving during a black swan event so we might see a delay in price action.  I was there for last halving 2016, price actually dipped following the halving and then rocketed to ridiculous highs in the year following.

There’s a lot of uncertainty in current day financial markets,  my money is on btc and has been for 6 years.

Hard to know if halving is priced in. Obviously market knows about this. Yet we have a dynamic leading up to that where no one wants to sell yet huge amount want to buy in. Short sellers getting brutally raped. We have a general risk on environment as the world recovers from covid. Yet massive global stimulus that will devalue all currencies. We have governments globally that will look to tax (aka steal) more money from people. And a growing realisation that the next big crisis really could affect the banks and possibly massively impact civil liberties. We have a possible war with China next few years (unless China totally changes their global aggression). We have a whole emerging generation who are entirety comfortable transacting digitally and yet who distrust the state. We have many who see the logic in gold but yet see the even greater advantages of digital gold. So many many drivers at play.

[gib]

Teutonic Knight I hope you have now learned your lesson. Whiggs was a Bitcoin visionary. He tried to tell us,. Only very few listened...

[pellius]

Many things, mainly speculation the halving is priced in.  Dynamics have changed this time around, entering the halving during a black swan event so we might see a delay in price action.  I was there for last halving 2016, price actually dipped following the halving and then rocketed to ridiculous highs in the year following.

There’s a lot of uncertainty in current day financial markets,  my money is on btc and has been for 6 years.

I'm not a personal investor. Just my 401k which I leave alone. I've been monitoring bitcoin for a couple of days and noticed it was on a steady upward climb. I put $650 into the account to see what happens. By the next day it was at $740. $90 in a day for doing nothing is a good deal. I just checked again and I'm back down to $689. I found it kind of interesting how the value changes every second. I thought about what is going on all over the world with people involved in this causing second to second changes.

Though it dropped a lot of from this morning there definitely seems to be an upward trend.

[FitnessFrenzy]

can someone explain the halvening?

[robcguns]

can someone explain the halvening?

Half the amount of bitcoins will be mined every halvening so the supply that miners get rewarded are cut in half.

[gib]

At current rate halvening will occur in just over 11 days. Exact time is determined by mining output.

[gib]

So essentially under the algorithm it will the take twice as much effort / cost / energy to mine a coin. Which should price up the value of a coin. Over time as we hit the total limit total coins that can ever be created we will then have a totally finite supply. And of course only a very few privileged and wealthy will have entire coins. Most of us will see simply have some amount of santoshies.