Bitcoin Price Tops $9,000 in Historic First

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Megalith

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Bitcoin is getting closer and closer to $10,000: the cryptocurrency hit a record high of $9,033 per bitcoin early Sunday morning. The price rose steadily over the weekend and surpassed $9,000 at around 6:40 a.m. UTC (1:40 a.m. ET), according to CoinDesk's Bitcoin Price Index. It now has a market cap of more than $150 billion.

At press time, prices are at $8,970 levels – up 2.43 percent for the session. CoinMarketCap data indicates that bitcoin has risen 6.16 percent in 24 hours, and 16.27 percent over the last seven days. Bitcoin's amazing gains have helped drive the combined market value for all cryptocurrencies to yet another at new high of $285 billion. Bitcoin's market capitalization is now almost $151 billion.
 
I'ts going to be scorched Earth when these cryptex companies get audited.
 
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Damn, this shit keeps going up and I keep not investing because I feel it'll keep falling. $9,000 a piece? Shit. Just a few years ago they were a 90th of that.
 
velusip said:
I'ts going to be scorched Earth when these cryptex companies get audited.
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I had to explain cryptocurrency to my Battalion Commander along with a few other officers because no one understood it. We had a Marine who was utilizing it to launder his heroin money into legal tender by investing in server farms and making withdrawals onto Bitcoin keys. The kid had an entire network of crony Marines, gang banger civilians and local thugs in the community working for him all paid in cryptocurrency. The guy was completely unassuming everything completely untraceable. Only reason we caught him was he referred himself for treatment and a salty MSgt said heroin is a new one that shit is expensive lets see what NCIS has to say about all of this. He still has something in the hundreds of thousands that cannot be seized and even more in the farms still making him money and ate 20 year sentence. He even managed to put a hit out on another guy in the brig with cryptocurrency.
 
Started building my little home farm 6 months ago, even after the 2nd boom. Been doing quite well for myself. Generating around 40-45 dollars a day, power only costs 7 cents per kwh delivered (So around 4 or so dollars a day to run the thing) I use the snowball method as I don't ever want to risk my "own" money, buy a GPU, it pays for itself, buy another GPU, and the previous GPU's profits pay off each successive batch faster and faster. Free heat for the winter too :)

I've been in and out of the crypto game for a while, it's a fun hobby that puts a minium of $1k in my pocket every month for doing absolutely nothing. Even if it all crashes down tomorrow you bet your ass I'll keep mining :)

Just for fun I have my finger in the Ripple (XRP) and Verge (XVG) pies in case they ever blow up in the coming months/years. Ripple is getting bigger and bigger since banks are hopping on board along with payment processors (visa). Exciting stuff I think :)
 
Coffeve

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collegeboy69us said:
Started building my little home farm 6 months ago, even after the 2nd boom. Been doing quite well for myself. Generating around 40-45 dollars a day, power only costs 7 cents per kwh delivered (So around 4 or so dollars a day to run the thing) I use the snowball method as I don't ever want to risk my "own" money, buy a GPU, it pays for itself, buy another GPU, and the previous GPU's profits pay off each successive batch faster and faster. Free heat for the winter too :)

I've been in and out of the crypto game for a while, it's a fun hobby that puts a minium of $1k in my pocket every month for doing absolutely nothing. Even if it all crashes down tomorrow you bet your ass I'll keep mining :)

Just for fun I have my finger in the Ripple (XRP) and Verge (XVG) pies in case they ever blow up in the coming months/years. Ripple is getting bigger and bigger since banks are hopping on board along with payment processors (visa). Exciting stuff I think :)
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If you're GPU mining, I'm guessing your not mining BTC itself. Are you mining "whatever" and having it transferred instantly to BTC as part a pool cashout? How many cards are you using to generate $45 dollars a day and what sorts?
 
collegeboy69us said:
Started building my little home farm 6 months ago, even after the 2nd boom. Been doing quite well for myself. Generating around 40-45 dollars a day, power only costs 7 cents per kwh delivered (So around 4 or so dollars a day to run the thing) I use the snowball method as I don't ever want to risk my "own" money, buy a GPU, it pays for itself, buy another GPU, and the previous GPU's profits pay off each successive batch faster and faster. Free heat for the winter too :)

I've been in and out of the crypto game for a while, it's a fun hobby that puts a minium of $1k in my pocket every month for doing absolutely nothing. Even if it all crashes down tomorrow you bet your ass I'll keep mining :)

Just for fun I have my finger in the Ripple (XRP) and Verge (XVG) pies in case they ever blow up in the coming months/years. Ripple is getting bigger and bigger since banks are hopping on board along with payment processors (visa). Exciting stuff I think :)
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What's your setup like and are you mining Bitcoin?
 
Xaeos said:
If you're GPU mining, I'm guessing your not mining BTC itself. Are you mining "whatever" and having it transferred instantly to BTC as part a pool cashout? How many cards are you using to generate $45 dollars a day and what sorts?
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Ski said:
What's your setup like and are you mining Bitcoin?
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I dabbled in ZEC and ETH, but these days I'm lazy and just point my farm power to nicehash, pays out every 24 hours in bitcoin after mining whatever is most profitable during the day.

Running about 20 GPU's in a few racks around the house, primarily 1060's as they offer best cost/power/efficiency, have some 1080Ti's in the gaming rig, a Titan X floating around somewhere because I got a smoking deal on it used. I've only ever picked up GPUs when they were used or an amazing deal.
 
velusip said:
I'ts going to be scorched Earth when these cryptex companies get audited.
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yup, but they don't see that happening (in their mind anyways) but it's coming. They think the IRS is stupid, especially the home miners but once they exchange coin for cash there's a paper trail and Uncle Sam is in need of mucho $$$ to build the next super carrier
 
Gotta wonder why a cryptocurrency hasn't been tied to any of the research projects. I mean why not make the "mining" actually useful?
 
_l_ said:
yup, but they don't see that happening (in their mind anyways) but it's coming. They think the IRS is stupid, especially the home miners but once they exchange coin for cash there's a paper trail and Uncle Sam is in need of mucho $$$ to build the next super carrier
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We're defunding them as fast as we can! Doesn't matter how much Uncle Sam needs the money, he still needs agents to actually enforce anything.
 
DPI said:
It's already useful if you actually bother to learn what it's doing.
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Well enlighten a poor old feeble fool then. I can't be bothered reading up on all the various cryptos, as an old fool like me rather learn practical trades.

Solving arbitrary hashes to secure the block chain isn't anymore usefull than hiding a bookies notebook when the IRS shows up.
 
I moved one hundred thousand dollars of bitcoin to a ledger yesterday for my mom.

10x from here or so, and my mortgage and my sisters mortgage will be taken care of, as a courtesy.

She’s glad I convinced her to buy.
 
_l_ said:
yup, but they don't see that happening (in their mind anyways) but it's coming. They think the IRS is stupid, especially the home miners but once they exchange coin for cash there's a paper trail and Uncle Sam is in need of mucho $$$ to build the next super carrier
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As it turns out, "paper trail" applies better to the digital world than the paper world. ;) Nothing is anonymous and log retention is forever, and only becomes easier to store and parse the longer we wait.
 
[21CW]killerofall said:
The guy who bought 2 pizzas in 2010 for 10,000 bitcoins must really be kicking himself right about now.
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Oh wow.

I'm salty at everyone's success. However, it's great to see normal people doing better for themselves instead of the 'rich getting richer' story. So that's like taking a frown and putting it upside down. :). I've read into it, and I don't really understand the risks of it - how the price goes up, what's keeping it up and making it go up. Not that I have the ability to take out loans to get the hardware anyways :p


...But that guy. That guy gotta be the saltiest man on earth, if true.
 
[21CW]killerofall said:
The guy who bought 2 pizzas in 2010 for 10,000 bitcoins must really be kicking himself right about now.
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The same guy kicking themselves in the 1600's when they traded a tulip for a goat, when waiting just a little longer could have bought him a mansion, at least the goat gave back more than a pizza. But I digress, you hardcore cryptos keep telling me how this is all a logically sustainable value and not hype.

https://www.investopedia.com/features/crashes/crashes2.asp
 
RayderR6 said:
The same guy kicking themselves in the 1600's when they traded a tulip for a goat, when waiting just a little longer could have bought him a mansion, at least the goat gave back more than a pizza. But I digress, you hardcore cryptos keep telling me how this is all a logically sustainable value and not hype.

https://www.investopedia.com/features/crashes/crashes2.asp
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The very fact that it's a deflationary currency means that a certain point it's value will become meaningless as it will become so expensive that no one will consider it worth using for transactions. Yes, I realize you can pay in fractions of a Bitcoin, but the fact still remains that a deflationary currency historically doesn't last.

Even worse compared to Tulip bulbs and gold as that Bitcoin doesn't have a physical use either.

I congratulate anyone making money off of this right now, but any sane person would sell off at this point if they've made a small fortune.
 
Mchart said:
Even worse compared to Tulip bulbs and gold as that Bitcoin doesn't have a physical use either.

I congratulate anyone making money off of this right now, but any sane person would sell off at this point if they've made a small fortune.
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Precisely! fluff imo

Or at any point along the way where they could have made a fortune, or just hang on and see where you may fall in the exit. I made some big money off Apple stock back a ways, but I don't kick myself for selling it then.
 
Mchart said:
The very fact that it's a deflationary currency means that a certain point it's value will become meaningless as it will become so expensive that no one will consider it worth using for transactions. Yes, I realize you can pay in fractions of a Bitcoin, but the fact still remains that a deflationary currency historically doesn't last.

Even worse compared to Tulip bulbs and gold as that Bitcoin doesn't have a physical use either.

I congratulate anyone making money off of this right now, but any sane person would sell off at this point if they've made a small fortune.
Click to expand...


There's technically no reason that Bitcoin couldn't become inflationary if the developers/users/miners came to a consensus on doing so.
 
ryan_975 said:
There's technically no reason that Bitcoin couldn't become inflationary if the developers/users/miners came to a consensus on doing so.
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In so replacing the current inflationary control scheme with another inflationary control scheme, which may or may not start out corrupt, but most certainly will end up corrupt...

This is all not what the initial rise of crypto currency was touted for in fixing our current broken system, it's just handing off the baton temporarily (if the new baton holders can come to an agreement) and ultimately back to the original baton holders (banksters) and people will think things are fixed; oh yeah, I forgot the argument that everyone who holds bitcoin will have knowledge of wherever and how much of it is in existence, I've got premium swamp land to sell you as well.
 
I remember when BT went up to over $100 thinking, man, I should buy some BT but never did.

It went up to over $500, and thought, man, I should totally buy some!

Went up to over $1k and thought, man, I should buy some but it's too expensive now and what if crashes?

And now here I am, a fool for not having ever invested in it when I should have.
 
Jehuty said:
I remember when BT went up to over $100 thinking, man, I should buy some BT but never did.

It went up to over $500, and thought, man, I should totally buy some!

Went up to over $1k and thought, man, I should buy some but it's too expensive now and what if crashes?

And now here I am, a fool for not having ever invested in it when I should have.
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rofl!, so you're stuck at the third sentence again? Does that negate the sentiment expressed by the 4th sentence? Don't piss and moan about what could have been, put your money where your mouth is and buy up, it's already flirting with $10,000, that's 1000 points in a single day!

Tulips, get your farm fresh tulips here! Love this mania.
 
To everybody claiming this is tulip bulb mania, here's a question for you:

If Bitcoin is just a bubble and will become worthless soon, where IS the money going to go for a demand for a safe haven from another market crash? Whether Bitcoin is the answer or not, there IS a demand for an investment that's easy to move and is essentially immune from regulations, seizures, inflation, and uncertainty of the overall market.

We're going to have another crash like 2008, it's just a matter of when. Glass-Steagall is still repealed and we've done band-aid efforts at best that don't prevent a similar crash from occurring. When that occurs, Bitcoin's value will go even higher, since it will be relatively safe from whatever antics governments due to prop up failing businesses and the stock market in general. Now if Bitcoin crashes before then, what's taking it place? The DEMAND for what it does will still be there.

I do agree that Bitcoin seems to be failing as a currency, but as an investment medium, it's not obvious to me what's going to displace it.
 
Personally I've been predicting 10k by the end of this year back when it was $500. No real reason why, just a gut feeling lol. I also predict 25k by the end of next year, at which point it'll just stagnate and find equilibrium there.

The only thing that messes it up is either gov't around the world unite to block it which will crash it entirely, or a REAL bubble begins and it skyrockets all the way over 100k before crashing.
 
RayderR6 said:
↑
The guy who bought 2 pizzas in 2010 for 10,000 bitcoins must really be kicking himself right about now.
The same guy kicking themselves in the 1600's when they traded a tulip for a goat, when waiting just a little longer could have bought him a mansion, at least the goat gave back more than a pizza. But I digress, you hardcore cryptos keep telling me how this is all a logically sustainable value and not hype.

https://www.investopedia.com/features/crashes/crashes2.asp
.
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Bloomberg disagrees with you. https://www.bloomberg.com/view/arti...amie-dimon-got-wrong-about-bitcoin-and-tulips

Anyone on this forum could have gotten in the game with minimal risk a few years ago just by doing a little research and pointing GPUs you already own to a mining pool when you were away. We're all hardware enthusiasts who love tweaking anyway, the rest writes itself. The only real risk was damage to hardware due to the brutal nature of mining. But after your hardware has paid for itself who cares?
 
I just tossed a bunch of video cards I couldn't sell into an old Mobo and started mining bitcoin gold. earns me about 10 bucks a week, and since I live in apartment with flat rate power, hey, no problems. If it crashes, it isn't like those cards were doing anything anyhow.
 
tetris42 said:
To everybody claiming this is tulip bulb mania, here's a question for you:

If Bitcoin is just a bubble and will become worthless soon, where IS the money going to go for a demand for a safe haven from another market crash? Whether Bitcoin is the answer or not, there IS a demand for an investment that's easy to move and is essentially immune from regulations, seizures, inflation, and uncertainty of the overall market.

We're going to have another crash like 2008, it's just a matter of when. Glass-Steagall is still repealed and we've done band-aid efforts at best that don't prevent a similar crash from occurring. When that occurs, Bitcoin's value will go even higher, since it will be relatively safe from whatever antics governments due to prop up failing businesses and the stock market in general. Now if Bitcoin crashes before then, what's taking it place? The DEMAND for what it does will still be there.

I do agree that Bitcoin seems to be failing as a currency, but as an investment medium, it's not obvious to me what's going to displace it.
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I attribute its recent mania to Tulips because there are irrational similarities, I could just as easily attribute it to the dotcom bubble. At the end of the tulip mania, tulips still had value as well, they were still tulips. I'm not saying bitcoin will be completely worthless, just the mania and hype and the fact that everyone in this hype still clings to it being a savior of the current monetary cesspool it was supposedly created to solve, while out of the other side of their mouths they try to claim it will have to go through the same steps and agreements that inevitably created the inflationary corruption that we already have.

The money is going to go to where it has always gone, the winners (whether by cheating, luck or skill), the rest will be holding the empty bag.

In the end of this mania, bitcoin will be viewed as just another crazy rising stock (e.g. tulips, dotcom, etc) and it will find its true value and place, then maybe we can get back to it actually having a chance to fix our broken bankster controlled system, like it was envisioned to.



SlipperyPete said:
Bloomberg disagrees with you. https://www.bloomberg.com/view/arti...amie-dimon-got-wrong-about-bitcoin-and-tulips

Anyone on this forum could have gotten in the game with minimal risk a few years ago just by doing a little research and pointing GPUs you already own to a mining pool when you were away. We're all hardware enthusiasts who love tweaking anyway, the rest writes itself. The only real risk was damage to hardware due to the brutal nature of mining. But after your hardware has paid for itself who cares?
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You go ahead and listen or not to all those banksters, the organizations they own and strategists, they wouldn't mislead you, ever ;) Just bang away at the binary...If it's going to be worth something, they'll find a way to take it from you.

https://www.marketwatch.com/story/c...t-need-to-be-cautious-with-bitcoin-2017-11-22
 
RayderR6 said:
I attribute its recent mania to Tulips because there are irrational similarities, I could just as easily attribute it to the dotcom bubble. At the end of the tulip mania, tulips still had value as well, they were still tulips. I'm not saying bitcoin will be completely worthless, just the mania and hype and the fact that everyone in this hype still clings to it being a savior of the current monetary cesspool it was supposedly created to solve, while out of the other side of their mouths they try to claim it will have to go through the same steps and agreements that inevitably created the inflationary corruption that we already have.
Click to expand...
The dotcom bubble is likely the better analogy. Just like there was a real demand for many kinds of websites, there remains a demand for something LIKE bitcoin, whether bitcoin comes out on top as a winner is more uncertain. There were some serious winners from the dot com craze, even if the majority ended up with nothing. The point being websites and e-commerce weren't a fad, they were just still developing. The mania behind it obviously was overinflated for the market as a whole.

Bitcoin is weird though in the sense that it's possible it could still be undervalued. So while the hype and mania is there, this is also new territory where it's not clear where the pricing should be yet. I think it's unlikely it's just going to drop to zero (though that's likely the case for many other currencies), the question is whether it's going to end up more like Facebook or Friendster in regard to long term value.

then maybe we can get back to it actually having a chance to fix our broken bankster controlled system, like it was envisioned to.
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Yeah, well, I think we'll see the entire economic system collapse before that happens.
 
tetris42 said:
Yeah, well, I think we'll see the entire economic system collapse before that happens.
Click to expand...

That is what it's going to take imo to change things, question is, what will it change to, something better or worse. With all the divisive actions, wedge issue distractions, misinformation and paramilitary police build up, it's not looking to comfortable for the plebs.

The winners in the dotcom bubble knew how to play. I knew someone who's plan it was to buy those stocks, when they gained 20%, he sold, he wasn't evaluating the stock, taking the long chance or listening to people, he just ran his simple plan and decided he made enough and luckily sold almost all of it before the crash. I wish I had money then and his plan, but he taught me well.
 
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