Bitcoin Soars past $15,000, Just Hours after Crossing $14,000

Megalith

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Bitcoin's incredible rise continues, with the digital currency climbing above $15,000. Bitcoin has now risen by over $3,000 over the last 36 hours and has gained well over 1,000% across 2017. The incredible rise means the total value of the entire cryptocurrency market has now passed $400 billion.

The digital currency began the year below $1,000 and its gains have accelerated as investor interest grows. Chicago-based Cboe Global Markets is planning to launch bitcoin futures on Sunday, while the world's largest futures exchange, CME, is set to launch its futures product the following week. The addition of bitcoin futures by two respected exchanges marks another step towards establishing the digital currency as a legitimate asset class.
 
I don't think we have reached the point where taxi drivers are giving bitcoin advice, but we are close. Maybe in Korea and Asia they are at that point, it is driving the price up.
 
If I invest it’ll crash...if I invest it’ll crash... I know my luck, I have to keep telling myself. Ha. Enjoy the ride guys. Congrats to those able to milk the most out of it.

I know if I was in the market this would probably be about the point I'd cash out, I can't imagine it going much higher without crashing down hard.

Of course I probably would have said the same thing a couple years ago as it went from $10 to $100.
 
though this is not a stock, many stocks that have climbed as quickly as bitcoin is have burst. Its about rising high without a solid foundation. The chances are even greater if more companies pull out of the bitcoin market like Steam did.
 
Didnt they just allow this to be traded or something? But I would say, it sounds like a serious bubble burst coming soon. lol
 
The problem is bitcoin (or at least the people buying into it) resist all forms of rational analysis.
 
Steam right now: "FUCK."

Depends on how many they took in and kept. If we hear about large bonuses for Steam Execs, we might have our answer. OTOH, if they mistime the sell, we might hear about the need to cut expenses.

If you have some, might be a good time to take a few off the table and buy the massive [H] rated gaming rig, pay off the car/house, and expand that retirement account.
 
So if you cash out now who is buying it or exchanging right now? Seems to me through fees and regulations recently it's becoming even harder to offload these?
 
None that you could define or methodically explain why beyond just blurting a buzzword.

Please. A bubble is just this simple: When people stop caring about the utility (or future utility) of a thing and start caring solely about where they think the price is going.

In other words, it's when everyone knows they're playing musical chairs, but just hopes they won't be caught without a seat when the music stops.
 
What other crypto currency is worth investing in?

There is no legitimate investment for bitcoin since there is no history behind it. It is all 100% speculation right now. How many times does speculation work out? Statistics say...not very likely. Everything about bitcoin and other crypto currencies right now fits the definition of a "bubble".
 
If I invest it’ll crash...if I invest it’ll crash... I know my luck, I have to keep telling myself. Ha. Enjoy the ride guys. Congrats to those able to milk the most out of it.

Don't you fucking invest. Don't you ruin this for me!

Shoo!

<3

I've got 1 dollar invested in this thing. I want 2 dollars. ...It's sad because this is true.
 
I think a fundamental question is what makes it worth 10x what it was worth at the beginning of this year? Or better yet, $3000 more than it was worth yesterday?
 
There is no legitimate investment for bitcoin since there is no history behind it. It is all 100% speculation right now. How many times does speculation work out? Statistics say...not very likely. Everything about bitcoin and other crypto currencies right now fits the definition of a "bubble".

Well look at the USD, it's not backed by anything tangible. Ours is backed by debt.

It's working out so far. I just sent chills down my spine.
 
I think a fundamental question is what makes it worth 10x what it was worth at the beginning of this year? Or better yet, $3000 more than it was worth yesterday?

It's like bottled water or generators during a natural disaster, except those things are actually useful.
 
I think a fundamental question is what makes it worth 10x what it was worth at the beginning of this year? Or better yet, $3000 more than it was worth yesterday?

Market cap. The amount of fiat currency that has been exchanged for Bitcoin, divided by circulating supply.
 
Well look at the USD, it's not backed by anything tangible. Ours is backed by debt.

It's working out so far. I just sent chills down my spine.

No, our currency is backed by the government, which -- in theory, at least -- means it is back by all of us, despite the debit.

Bitcoin is literally backed by nothing but an implicit understanding of agreed-upon value.

Does that mean you can't make money on it? Of course not. Just don't bet anything you can't afford to lose.
 
Well look at the USD, it's not backed by anything tangible. Ours is backed by debt.

It's working out so far. I just sent chills down my spine.

It is backed by the USA and the economic activity of the USA. That's pretty tangible as far as things go.
 
Wrong. Which tells me you literally don't understand it then.

That's literally all that backs it, it is purely a speculative instrument. There is no other backing for it. No reserves, nothing.
 
As I have been hearing a lot recently, the word "bubble" is usually something said in hindsight after the fact. All this is eerily reminiscent of internet stocks in year 2000. Had to search a bit to find one still in existence that would chart up. This one broke $20k a share (split adjusted) and is now below $4.

Interesting times for sure. Typing this while sitting on the sideline with a big tub of popcorn.
 

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