Bitcoin's Total Value Hits Record High Above $14B

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Bitcoin's total value hit a record high after prices jumped more than five percent today. According to the article, bitcoin price has more than doubled from the beginning of the year.

The total value of all bitcoins in circulation hit a record high above $14 billion on Thursday, as the web-based digital currency jumped 5 percent on the day to its highest levels in three years after more than doubling in price this year. The price of one bitcoin reached $875 on the Europe-based Bitstamp exchange, its strongest level since January 2014, putting the cryptocurrency on track for its best daily performance in six months.
 
I still have a partial bitcoin sitting on one of my old computers. Might be time to finally spend what I have left.
 
Governments will soon have no choice but to inflate their currencies.

This exit ramp will be the best investment for a generation.
 
atp1916 said:
http://www.businessinsider.com/williams-bitcoin-meltdown-10-2013-12
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There actually was a Bitcoin meltdown, it fell from $1200+ to about $200 over the year following that prediction.

Retronym said:
Governments will soon have no choice but to inflate their currencies.

This exit ramp will be the best investment for a generation.
Click to expand...

Why? Bitcoin values track with currency fluctuations so should that happen the exchange rate of Bitcoin will move right along to compensate.

I'm still waiting for someone to crack the algorithm, it will happen eventually. Something like Bitcoin isn't really set up to be continuously sustainable because the values are locked in to the existing algorithm. That gets broken and bam, all up in smoke. There is only so much they can do to secure it without breaking compatibility. Frankly it's amazing nothing has happened yet. It's just a matter of how long. Still, the idea is good but Bitcoin is still just the first implementation of the idea.

P.S. I still wish I'd sold my 54.5 Bitcoins at $1200 each instead of $17 each.
 
Imagine China having the kind of currency crisis that Venezuela is currently having.

Every fiat currency fails with time. Every single one.
 
DocSavage said:
I would like to provide you with free Bitcoin insurance. Can I get your name and phone number? ;)
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Wouldnt do you any good they they are stored on encrypted usb drives in 3 places which is how all coins you don't want to spend should be offline and in cold storage.
 
Alright I am gonna buy some miners and mine the FUCK out! Cash in the coins to purchase my Lotus XR-180!
 
tunatime said:
Wouldnt do you any good they they are stored on encrypted usb drives in 3 places which is how all coins you don't want to spend should be offline and in cold storage.
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Please consider writing down the private keys on paper. Thumb drives can lose data after a period of time unconnected.

Failing that, CD-Rs since there will be physical pits on the disc. You would want to replace every few years as these don't last forever either.

IMO
 
Retronym said:
Please consider writing down the private keys on paper. Thumb drives can lose data after a period of time unconnected.

Failing that, CD-Rs since there will be physical pits on the disc. You would want to replace every few years as these don't last forever either.

IMO
Click to expand...
Better yet, chisel them into stone and bury them in a 20 foot deep vault in the back yard. /sarc just in case
 
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