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

Discussion in '[H]ard|OCP Front Page News' started by Megalith, Dec 7, 2017 at 8:52 AM.

  1. Carbon_Rod

    Carbon_Rod Gawd

    Messages:
    994
    Joined:
    Apr 2, 2012
    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.
     
  2. bugleyman

    bugleyman Limp Gawd

    Messages:
    201
    Joined:
    Oct 27, 2010
    And that, right there, is why bubbles happen.
     
    RayderR6 and Powerage like this.
  3. DigitalisAkujin

    DigitalisAkujin Limp Gawd

    Messages:
    147
    Joined:
    Aug 8, 2004
    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.
     
    Last edited: Dec 7, 2017 at 3:32 PM
  4. Jim Kim

    Jim Kim [H]ard|Gawd

    Messages:
    1,766
    Joined:
    May 24, 2012
    I'm planning to hold until $1mil, at this rate I will own the world and everything in it by February.
     
  5. nvgrim

    nvgrim [H]ard|Gawd

    Messages:
    1,708
    Joined:
    May 1, 2013
    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.
     
    DigitalisAkujin likes this.
  6. Retronym

    Retronym Pick your own.....you deserve it.

    Messages:
    20,800
    Joined:
    Mar 5, 2007
    i will run them through my accounts and send you your money for 1%.
     
    DigitalisAkujin likes this.
  7. Archaea

    Archaea [H]ardness Supreme

    Messages:
    7,018
    Joined:
    Oct 19, 2004
    well you probably wish you hadn't spent the ones before your last eight as well eh? :)
     
  8. CookieFactory

    CookieFactory Limp Gawd

    Messages:
    269
    Joined:
    May 17, 2006
    A sure enough example of how you can lead a horse to water, but you can’t make him drink.
     
  9. piratepress

    piratepress [H]ard|Gawd

    Messages:
    1,280
    Joined:
    Feb 15, 2002
    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?
     
  10. TheCommander

    TheCommander 2[H]4U

    Messages:
    2,867
    Joined:
    Apr 2, 2003
    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.
     
  11. CookieFactory

    CookieFactory Limp Gawd

    Messages:
    269
    Joined:
    May 17, 2006
    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.
     
  12. Archaea

    Archaea [H]ardness Supreme

    Messages:
    7,018
    Joined:
    Oct 19, 2004
    Bad news for John McAfee if you are right.
     
  13. DigitalisAkujin

    DigitalisAkujin Limp Gawd

    Messages:
    147
    Joined:
    Aug 8, 2004
    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.
     
  14. CookieFactory

    CookieFactory Limp Gawd

    Messages:
    269
    Joined:
    May 17, 2006
    I’d be more than pleased if he turns out right and I wrong.
     
    tetris42 likes this.
  15. refraxion

    refraxion [H]ardForum Junkie

    Messages:
    8,366
    Joined:
    Oct 3, 2007
    Let's be honest, he was going to do it anyways.
     
    Archaea likes this.
  16. BitMaster

    BitMaster Limp Gawd

    Messages:
    170
    Joined:
    Nov 10, 2016
    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.
     
    Last edited: Dec 7, 2017 at 4:49 PM
  17. _l_

    _l_ Limp Gawd

    Messages:
    445
    Joined:
    Nov 27, 2016
    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 ...

    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?
     
    Last edited: Dec 7, 2017 at 5:54 PM
  18. craigdt

    craigdt Limp Gawd

    Messages:
    206
    Joined:
    Oct 27, 2016
    Too bad I just lost my .06 btc with the NiceHash hack.
     
  19. Joust

    Joust [H]Lite

    Messages:
    100
    Joined:
    Nov 30, 2017
    The self-kicking is hard to resist. But. Hindsight.
     
  20. DigitalisAkujin

    DigitalisAkujin Limp Gawd

    Messages:
    147
    Joined:
    Aug 8, 2004
    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.
     
  21. Kdawg

    Kdawg Limp Gawd

    Messages:
    369
    Joined:
    Aug 12, 2017
    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.
     
  22. odditory

    odditory [H]ardness Supreme

    Messages:
    4,226
    Joined:
    Dec 23, 2007
    That's incorrect. You've apparently never used an exchange.
     
  23. opfreak

    opfreak Gawd

    Messages:
    551
    Joined:
    Nov 17, 2005
    how is it a good store of value? Anyone that bought at 19,xxx today, lost +3000 dollars in a matter of minutes.
     
  24. Archaea

    Archaea [H]ardness Supreme

    Messages:
    7,018
    Joined:
    Oct 19, 2004
    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.
     
  25. kirbyrj

    kirbyrj Why oh why didn't I take the BLUE pill?

    Messages:
    21,898
    Joined:
    Feb 1, 2005
    I bought at a "historic high" of $12.9k and came out ahead.
     
  26. DPI

    DPI [H]ardForum Junkie

    Messages:
    10,084
    Joined:
    Apr 20, 2013
    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.
     
    Last edited: Dec 7, 2017 at 8:49 PM
    sabrewolf732 likes this.
  27. opfreak

    opfreak Gawd

    Messages:
    551
    Joined:
    Nov 17, 2005
    So? Still a terrible store of value.
     
  28. jojo69

    jojo69 [H]ardForum Junkie

    Messages:
    10,260
    Joined:
    Sep 13, 2009
    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.
     
  29. Dew

    Dew 2[H]4U

    Messages:
    4,013
    Joined:
    Jun 23, 2003
    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.
     
  30. MrTryfe

    MrTryfe Limp Gawd

    Messages:
    346
    Joined:
    Apr 3, 2012
    Are
    Are these lone individuals?
     
  31. tetris42

    tetris42 2[H]4U

    Messages:
    3,279
    Joined:
    Apr 29, 2014
    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.
     
  32. kirbyrj

    kirbyrj Why oh why didn't I take the BLUE pill?

    Messages:
    21,898
    Joined:
    Feb 1, 2005
    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.