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28 Nov 17
10:46
Joined:
Date Joined:
05 Apr 06
Bitcoin nears $10,000 mark as hedge funds plough in
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https://www.theguardian.com/technology/2017/nov/27/bitcoin-nears-10000-dollar-mark-as-hedge-funds-plough-in
Bitcoin has hit a record high after passing $9,000 (£6,700) and is close to reaching five figures as investors in the cryptocurrency shrug off warnings of a bubble.
The cryptocurrency rose to an all-time high of $9,721 on Monday. It is now worth more than seven times an ounce of gold, which is seen as a haven in times of turmoil.
In a remarkable rally, bitcoin started the year at $1,000 and smashed through $5,000 in October.
Check comments.
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https://www.theguardian.com/technology/2017/nov/27/bitcoin-nears-10000-dollar-mark-as-hedge-funds-plough-in
Bitcoin has hit a record high after passing $9,000 (£6,700) and is close to reaching five figures as investors in the cryptocurrency shrug off warnings of a bubble.
The cryptocurrency rose to an all-time high of $9,721 on Monday. It is now worth more than seven times an ounce of gold, which is seen as a haven in times of turmoil.
In a remarkable rally, bitcoin started the year at $1,000 and smashed through $5,000 in October.
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If a Bitcoin is worth that, can you imagine what a Wholecoin is worth!
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Goods allegedly exchanged for a single bulb of the Viceroy tulip
Two lasts of wheat 448ƒ Four lasts of rye 558ƒ Four fat oxen 480ƒ Eight fat swine 240ƒ Twelve fat sheep 120ƒ Two hogsheads of wine 70ƒ Four tuns of beer 32ƒ Two tons of butter 192ƒ 1,000 lb. of cheese 120ƒ A complete bed 100ƒ A suit of clothes 80ƒ A silver drinking cup 60ƒ Total 2500ƒ |
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Where can I buy these tulips please?
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A century from now the 400 million acres of farmland will have produced staggering amounts of corn, wheat, cotton, and other crops — and will continue to produce that valuable bounty, whatever the currency may be. Exxon Mobil (XOM, -0.37%) will probably have delivered trillions of dollars in dividends to its owners and will also hold assets worth many more trillions (and, remember, you get 16 Exxons). The 170,000 tons of gold will be unchanged in size and still incapable of producing anything. You can fondle the cube, but it will not respond.
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^ Cubist ?
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As Voltaire once stated; all paper currency returns to its intrinsic value....nothing.
So what do currencies that dont even exist return to? I noticed recently how Goldman Sachs had joined in the craze by creating trading platforms for the public to indulge in the trading of these 'things'. Knowing what we do about both that company and the inherent nature of markets encouraging Jo public to speculate on stuff they cant possibly comperehend as to it's future, is it too much to assume its bubble like characteristics now to be purely coincidental? For all gambling gains today have to be lost by somebody else in future, and encouraging all to dive in and reap reward is an often used tactic right before the proverbial fork is stuck into the market (at the point where the 'important ones' have got out) |
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Fondle. What a great word and one that is sorely underused.
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Mr Damo : (in comments)
People that dismiss Bitcoin as a fraud need to understand that the protocol was a breakthrough in computer science: it built on 40 years of research in cryptography by tens of thousands of researchers around the world. This is so much more than just some elaborate con. Bitcoin combined the speed of the internet to enable global, fast, real-time transactions in a practical way by solving a computer science problem called the Byzantine Generals' Problem. This, in effect, allowed for trust between different parties over an untrusted network such as different banks or the internet. Critically, it removed any need for a trusted "middle man" such as a central bank, government, or clearing house. Instead, trust was created through what is called a Blockchain, the decentralised system that underpins the invention of Bitcoin. The possibilities that this new technology has opened up are mind-bending. So when we hear uninformed people dismiss it as "tulips", you can understand why we get a bit defensive. |
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The bitcoin scalability problem is a consequence of the fact that blocks in the blockchain are limited to one megabyte in size.[1] Blocks larger than one megabyte are automatically rejected by the network as invalid.[2] Bitcoin blocks carry the transactions on the bitcoin network since the last block has been created.[3]:ch. 2 This allows for around three transactions per second maximum capacity rate.
The one-megabyte limit has created a bottleneck in bitcoin, resulting in increasing transaction fees and delayed processing of transactions that cannot be fit into a block. This makes bitcoin unsuitable for almost all types of transactions we normally use money for. It's only real use is as a store of value - Like gold. |
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Irs very disperate by all accounts, all infrastructures unable to communicate with each other.
Apparently non trust the other and each transaction has to run the block chain from the beginning each time. As soon as somebody creates the improved variant then the originator gets forgotten. Also bitcoin has a reputation for unscrupulous transactions, what happens if states who want the price to drop bring in regulation as China did recently? Finally the end of the year brings the ability to short the currency, it will be game on after that. |
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Bitcoin could be the greatest thing since sliced bread for all I know but when any idiot can make money from it just by buying it then I get a bit skeptical. Also it doesn't do much for its credibility when I find my junk mail full of Bitcoin opportunities every day.
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I told my cousin to invest in one coin whenit was at 250 pounds, he looked at me as if I was a idiot. The keiser report guy o rt. News figures it mightreach 50 thôusand. I refuse to even entertain it, it has the moebius symbol, mark of the new covenant' , it's a criminal currency and. Might be shutdown at any time, like the crypto currencya fewyrs ago.. mount gok??
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At the beginning of 2014 I had a decent win on a football accumulator. Took out some money and thought along with other things I might invest some in some cryptocurrency including bitcoins. Decided I should stick a nominal amount in at first then play about to get use to the exchanges and how to use the wallets. Bought a tenth of a bitcoin (for about 40ish quid then) and some lite coins and traded for some other currencies like ripple.Total spent was only 100 quid to get the hang of things. Played about for a week and read up on them a fair bit then lost interest for a bit due to being busy at work. Checked the prices 4-5 months later and bitcoin had dropped to below 300 pound and the other currencies were dow to so my 100 quid was now worth about 30 quid. Didn't renew my interest in it. Forgot about my wallets for 3 years until the summer there when checked them. All up. Out of the 4 currencies I bought one went bust but the other 3 are all up between 800%- 2000% so my my measly 100 quid is now a grand. Every time I read the name bitcoin I wince at not continuing my interest in them and investing in them at 300 quid.
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The Emperor's new underpants x 10,000
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Pretty lazy cliches. Bitcoin will crash eventually as it is clearly over valued but it and the efficient cryptocurrencies won't just be a flash in the pan and will find a stable market value at some point. No different than the dot com boom that saw crazy speculations and when the crash came those companies with no substance dissapeared but those like google, ebay and amazon etc. became massive companies eventually.
In the end when speculation dies down and they stabilise there is very little difference between cryptocurrencies and any fiat currency. Their only worth is what people think it's worth. Their are too many advantages of cryptocurrencies for them to be the emperors clothes. |
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Now $16,000 - up $6,000 in five days; $3,000 today. There must be people who have made fortunes.
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...undoubtedly at some stage, there will be fortunes lost too
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I know very little about this subject but I've seen predictions by "experts" of the currency reaching $50k, $100k and even $200k
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all above my head but someone loose,s has his stock stolen so price increases,so I,d imagine we can look forward to more thefts,loose.s of stock in the future
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I do not loose.
He looses. You loose money everyday. The nuts on your wheels are loose. Your loses are unsustainable. That'll be 20 Guineas, thank you ! |
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Almost certain to go much higher. I don't understand the security risks so I won't be buying but for anyone OK with that aspect there's a big upside for the next several months imo.
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I invested £300 last thursday 30th nov.as of today it's worth £470.not too bothered if it goes tits up,just wish i had done it 3 years ago.
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a few years ago i heard max keiser of RT say it will go to 50,000. this morning they say 200,000.
it's a collectible now... not a currency. no one is spending it. it's a pokemon token. 21 million tokens. you'd be better buying an old spiderman issue - only 200,000 of each issue published in 1970? if the internet implodes with an emp - there is no bitcoin. |
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Zorro , it's how much you can make short term. And then in a few weeks/months convert to PM's. You can't compare with old valuables that keep there value with a bit on top. Bitcoin may double or more in a couple of weeks.
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pass the parcel , good luck
may as well back england when they are batting and hope they dont lose a wicket |
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The smell of a pyramid scheme fills the air
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when does the lemmings full sign go up
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Good time to get into physical bullion, if you haven't already
 £930's a decent price to pay, imo. http://www.kitco.com/ |
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i can't my head around how this works . I think i must be a bit stupid .
I assume there a limit to bitcoin - how do you spend bitcoin (does it come with a bitcoin card ? ) is it accepted by stores ? what is the difference between investing in bitcoins and say very old currency where the value becomes higher as time trundles on ? i've only met one person who understands it -and he confused me explaining it lol . If not may folk understand it can it work as a currency ? |
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many*
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arnt most of those joining now just investing in companies investing in bitcoin not the actual bitcoin itself, or you,d have to lay out 16 grand currently for one coin wouldn't you,
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or like trading the pound just trading it to go up[ or down, still
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tt
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Cheers Leopard....
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coach , the simple difference is that both bitcoin and fiat notes backed by governments/banks can lose their value instantly. The difference at the moment is that people across the globe are getting sick of a third party controlling the system. Young people in particular are seeing the rise in bitcoin as wealth transfer so there's plenty of upside imo. When can we bet on bitcoin on here ?
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i looked into mining it few years ago after the guy buried his hard drive in the local dump.
it was all over the news. worth a fortune. that guy must be away to Borneo to get away from the updated price now? i was put off mining it after i noticed it had the mark of the beast on it. and that it took me hours to set up without a bleep? you needed a graphics card and electricity bills would soar? so too many negatives. spiritual and body - applepay will be along soon. |
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"Tulip Mania"
End of! |
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Coachbuster 08 Dec 17 18:21 Joined: 08 Apr 06 | Topic/replies: 37,258 | Blogger: Coachbuster's blog
i can't my head around how this works . I think i must be a bit stupid . If you truly want to know how it all works, you could do a lot worse than listen to the three podcasts here: http://investorfieldguide.com/hashpower/ |
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Digital currencies now have more than $500 billion in market capitalization, making them bigger than the Berkshire Hathaway holding company of billionaire investor Warren Buffett.
Buffett’s company is worth $491 billion. The cryptocurrency market is also bigger than Facebook and ExxonMobil, which are each worth $411 billion, according to the PwC rating of the world’s top 100 companies. |