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

Carbon_Rod

Gawd
Joined
Apr 2, 2012
Messages
1,022
This is the time I kick myself for spending my last 8 Bitcoins when I thought it wasn't going to last.

Oh well... hindsight... 20/20.
 

DigitalisAkujin

Limp Gawd
Joined
Aug 8, 2004
Messages
175
I seriously have no idea how to sell my BTC. I mined 12 back in the day. Spent a couple on some BFL miners.... some of which never came but still have a little over 9.

I'm planning to HODL till 100k but the real problem is ...... I have no idea how to sell it without instantly hitting limits. I think on Coinbase the limit right now is 10k?

For those wondering why it keeps increasing in value despite not being backed by anything. The answer is quite simple really.

When someone wants to buy something with Bitcoin via USD they use something like Bitpay. Bitpay merely uses BTC as an exchange medium. Buying BTC with USD, depositing USD to the seller account, then immediately holding or immediately selling the BTC for USD. It's a built in demand that ignores the current value since the entire transaction happens in under a minute.

So even if it really isn't a currency per-say it is a good store of value.

Oh and since the market is global it's not as US-centrist as most people think.

Also a great way to do currency exchanges without paying a 3% exchange fee to Forex.
 
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Jim Kim

2[H]4U
Joined
May 24, 2012
Messages
3,700
I'm planning to hold until $1mil, at this rate I will own the world and everything in it by February.
 

nvgrim

[H]ard|Gawd
Joined
May 1, 2013
Messages
1,700
I seriously have no idea how to sell my BTC. I mined 12 back in the day. Spent a couple on some BFL miners.... some of which never came but still have a little over 9.

I'm planning to HODL till 100k but the real problem is ...... I have no idea how to sell it without instantly hitting limits. I think on Coinbase the limit right now is 10k?

For those wondering why it keeps increasing in value despite not being backed by anything. The answer is quite simple really.

When someone wants to buy something with Bitcoin via USD they use something like Bitpay. Bitpay merely uses BTC as an exchange medium. Buying BTC with USD, depositing USD to the buyer account, then immediately holding or immediately selling the BTC for USD. It's a built in demand that ignores the current value since the entire transaction happens in under a minute.

So even if it really isn't a currency per-say it is a good store of value.

Oh and since the market is global it's not as US-centrist as most people think.

Also a great way to do currency exchanges without paying a 3% exchange fee to Forex.
The limit to sell on coinbase starts at 10k but goes higher the more you use it and if your account is verified. My sell limit is currently at 50k a week.
 

Retronym

Something big is coming.
Joined
Mar 5, 2007
Messages
12,684
I seriously have no idea how to sell my BTC. I mined 12 back in the day. Spent a couple on some BFL miners.... some of which never came but still have a little over 9.

I'm planning to HODL till 100k but the real problem is ...... I have no idea how to sell it without instantly hitting limits. I think on Coinbase the limit right now is 10k?

For those wondering why it keeps increasing in value despite not being backed by anything. The answer is quite simple really.

When someone wants to buy something with Bitcoin via USD they use something like Bitpay. Bitpay merely uses BTC as an exchange medium. Buying BTC with USD, depositing USD to the seller account, then immediately holding or immediately selling the BTC for USD. It's a built in demand that ignores the current value since the entire transaction happens in under a minute.

So even if it really isn't a currency per-say it is a good store of value.

Oh and since the market is global it's not as US-centrist as most people think.

Also a great way to do currency exchanges without paying a 3% exchange fee to Forex.
i will run them through my accounts and send you your money for 1%.
 

Archaea

[H]F Junkie
Joined
Oct 19, 2004
Messages
9,984
This is the time I kick myself for spending my last 8 Bitcoins when I thought it wasn't going to last.

Oh well... hindsight... 20/20.
well you probably wish you hadn't spent the ones before your last eight as well eh? :)
 

piratepress

[H]ard|Gawd
Joined
Feb 15, 2002
Messages
1,461
There's a Coinme ATM not too far from me that sells Bitcoin. I believe the daily max is $3500, but that would at least get me part of a Bitcoin.

Wondering if anyone else has used this and if it was user-friendly?
 

TheCommander

2[H]4U
Joined
Apr 2, 2003
Messages
2,999
Looks like a bubble to me but I don't think anyone really knows what is going to happen.. The question is how high will it go before it bursts. It could keep going up for a long time. On the other hand since this is something different than what the financial world has seen, it might just keep going up and then stabilize.
 

CookieFactory

Limp Gawd
Joined
May 17, 2006
Messages
310
I’m 80% confident in my own analysis. Bitcoin will peak between 40 and 70K in first quarter 2018. The rest of the year (and most of 2019) will be a bear market with prices bottoming around 20K. The next bull cycle in 2020 will take us beyond 100K.
 

Archaea

[H]F Junkie
Joined
Oct 19, 2004
Messages
9,984
I’m 80% confident in my own analysis. Bitcoin will peak between 40 and 70K in first quarter 2018. The rest of the year (and most of 2019) will be a bear market with prices bottoming around 20K. The next bull cycle in 2020 will take us beyond 100K.
Bad news for John McAfee if you are right.
 

DigitalisAkujin

Limp Gawd
Joined
Aug 8, 2004
Messages
175
I’m 80% confident in my own analysis. Bitcoin will peak between 40 and 70K in first quarter 2018. The rest of the year (and most of 2019) will be a bear market with prices bottoming around 20K. The next bull cycle in 2020 will take us beyond 100K.
This is in line with previous bubbles. The one we are in now is #4.

Here's a brief history: https://steemit.com/bitcoin/@huku/bitcoin-bubbles-a-brief-history

The current bubble is actually looking a lot more stable.
 

BitMaster

Limp Gawd
Joined
Nov 10, 2016
Messages
367
Nobody trusts anything, I don't trust the Deutsche Bank, I never did, if I was a US citizen I wouldn't trust the FED either, etc... Why should Bitcoin not work, many are so FED UP with it ( hehe, nice ! ) that they seek for an alternative. States' integrity and liquidity as well as social systems are on a decline around the globe and the rise of Bitcoin is sign for this as well. The lost trust in the old world opens the door for new solutions. Bitcoin, as grey and obscure it may seem to most if not all but a few with the ultimate knowledge about the actual Bitcoin mechanism, looks still very attractive to those disillusioned by the current system which is fake as well, but controlled by a hord of banksters that we know cant trust nor shoot ( yet ). SO, heck, BITCOIN, no damn Bankster involved, only hackers...hehe.

My guess is, 100k at least in next 12 month, may go up & down too but it will survive and rise by a 10-100 fold in next years.

Electricity grids will have to suffer...LoL AMD & Nvidia love it !

I almost forgot..its GREED DRIVEN, it will never stop until shot! Look at Deutsche Bank and those others, do you think they stopped playing their games ? They just got better in hiding it, that's all that's happened.

HUMAN GREED, the only thing that this world hasn't enough for. For anything else, this planet has an abundance of everything, just not for greed.
 
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_l_

I Am A Cock
Joined
Nov 27, 2016
Messages
1,151
I might have 40 coins to sell ... anyone want to give me 50% of their current value - cash only?

I really don't have any coin, but I bet some of you began to drool ...

Bitcoin is literally backed by nothing but an implicit understanding of agreed-upon value.
fits right in with the morals many in society have today ... shallow, fluctuating and of no real value

BTW, Used EVGA GTX 1070 FTW cards on ebay - lowest price $479 (most are $500+) I guess they think bitcoin surge means higher GPU prices or just greedy for an over-priced Christmas sale?
 
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DigitalisAkujin

Limp Gawd
Joined
Aug 8, 2004
Messages
175
BTW, Used EVGA GTX 1070 FTW cards on ebay - lowest price $479 (most are $500+) I guess they think bitcoin surge means higher GPU prices or just greedy for an over-priced Christmas sale?
What is this? 2013?

You can tell when a person has no idea what they are talking about when they think that Bitcoin mining is still done with GPUs (for profit).

They MIGHT be mining etherium on it or another currently profitable currency but definitely not Bitcoin.

It's Xmas! Cards are running out of stock. I just got a 1080 TI and saw it was sold out after I got it where I got it from. The price on ebay is bound to go up.
 

Kdawg

Gawd
Joined
Aug 12, 2017
Messages
949
huge game of chicken, and a game of who will be left holding the bag.

Considering that there's a long delay and transaction limit to sell off your bitcoin, once the bots start a sell-off, you'll watch helplessly as tons of value disappears.

I wonder what people's sell price targets are. The greed can't be limitless.
 

odditory

Supreme [H]ardness
Joined
Dec 23, 2007
Messages
5,947
Considering that there's a long delay and transaction limit to sell off your bitcoin, once the bots start a sell-off, you'll watch helplessly as tons of value disappears.
That's incorrect. You've apparently never used an exchange.
 

opfreak

Gawd
Joined
Nov 17, 2005
Messages
763
I seriously have no idea how to sell my BTC. I mined 12 back in the day. Spent a couple on some BFL miners.... some of which never came but still have a little over 9.

I'm planning to HODL till 100k but the real problem is ...... I have no idea how to sell it without instantly hitting limits. I think on Coinbase the limit right now is 10k?

For those wondering why it keeps increasing in value despite not being backed by anything. The answer is quite simple really.

When someone wants to buy something with Bitcoin via USD they use something like Bitpay. Bitpay merely uses BTC as an exchange medium. Buying BTC with USD, depositing USD to the seller account, then immediately holding or immediately selling the BTC for USD. It's a built in demand that ignores the current value since the entire transaction happens in under a minute.

So even if it really isn't a currency per-say it is a good store of value.

Oh and since the market is global it's not as US-centrist as most people think.

Also a great way to do currency exchanges without paying a 3% exchange fee to Forex.
how is it a good store of value? Anyone that bought at 19,xxx today, lost +3000 dollars in a matter of minutes.
 

Archaea

[H]F Junkie
Joined
Oct 19, 2004
Messages
9,984
how is it a good store of value? Anyone that bought at 19,xxx today, lost +3000 dollars in a matter of minutes.
Any doubt it’ll bounce back and surpass in the next month or two? (If not the next day or two?) One of my friends bought some today at low $17000 range.

I told him it was gutsy buying on a near historic high. He said it’s on a historic high pretty much evey day which is why he bought some

Touché.
 

DPI

Nitpick Police
Joined
Apr 20, 2013
Messages
10,960
how is it a good store of value? Anyone that bought at 19,xxx today, lost +3000 dollars in a matter of minutes.
Nothing has been "lost" unless this mythical buyer - one with enough wherewithall to afford an entire Bitcoin - also immediately panic sold without a stop loss in place, in which case Darwin award and has no business speculating.

Would also require that this mythical buyer had done zero research whatsoever to know there's no point panic selling something that's not only been trending upward for years, but every dip of this calendar year has seen a bounce back in excess of the its pre-dip high.. usually within 24hrs.

Put another way, if you follow the line graph showing BTCs value over time between it's inception in 2009 and today's high, consider thatl anyone that hopped on at any point on that timeline is up now.
 
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opfreak

Gawd
Joined
Nov 17, 2005
Messages
763
Nothing has been "lost" unless this mythical buyer - one with enough wherewithall to afford an entire Bitcoin - also immediately panic sold without a stop loss in place, in which case Darwin award and has no business speculating.

Would also require that this mythical buyer had done zero research whatsoever to know there's no point panic selling something that's not only been trending upward for years, but every dip of this calendar year has seen a bounce back in excess of the its pre-dip high.
So? Still a terrible store of value.
 

jojo69

[H]F Junkie
Joined
Sep 13, 2009
Messages
10,515
jojo69's butler here,

I am instructed now to type...ahem

"HODL BITCHEZZ!!"



I fear master 69 has rather been at the brandy, my apologies.
 

Dew

2[H]4U
Joined
Jun 23, 2003
Messages
3,809
I'm planning to HODL till 100k but the real problem is ...... I have no idea how to sell it without instantly hitting limits. I think on Coinbase the limit right now is 10k?
No sell/buy limit on GDAX(Which is coinbase), just limit on how much you can move after selling. It will just mean you can only move $10K USD per day to your bank account.
 

MrTryfe

Limp Gawd
Joined
Apr 3, 2012
Messages
435
Are
The most legit reason I've heard is bitcoin is very top-heavy with its owners:

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

We're talking maybe 12% of all bitcoins being accessible by the average person at the current price, if that. If the whales were to start a concerted sell off, that could crash the price pretty hard. I doubt that's happening anytime soon, but it does seem like a looming threat in the long term.
Are these lone individuals?
 

tetris42

Supreme [H]ardness
Joined
Apr 29, 2014
Messages
4,518
Are


Are these lone individuals?
It's anyone's guess. I imagine many of the big players have multiple different bitcoin accounts, so the reality could be it's even more consolidated than this.
 

kirbyrj

Fully [H]
Joined
Feb 1, 2005
Messages
25,523
I read the other day there are 200 Bitcoin "billionaires." So you'd have to figure that's a good deal of the $300 billion market cap right now.
 
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