Author Topic: Bitcoin currency (merged topics)  (Read 78658 times)

Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #330 on: May 03, 2017, 03:08:01 PM »
BTC successfully punched thru $800 today.


1000 USD/BTC

Market Cap $16 billion   

Bitcoin outperformed all other assets in 2016.


Bitcoin prices are back in the ~$1200 range again.


Trading has solidly surpassed $1500/BTC in the last 24 hours at most exchanges. Some are trading over $1600 and a few are below $1400. I don't recall spreads this wide, except for right before Mt Gox went bust.  The market cap for all crypto currencies is over $41 billion, with BTC making up almost $25 billion of that total.
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Offline EpsilonActual

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Re: Bitcoin currency (merged topics)
« Reply #331 on: May 10, 2017, 06:21:06 AM »
I purchased my first bitcoin last night through Coinbase. Current value of a bitcoin sits at $1761.53

Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #332 on: May 10, 2017, 10:10:49 AM »
Good move!  Coinbase is an excellent place to start purchasing and storing cryptocurrency.

Consider buying some Ethereum or Litecoin, too.  That's what I'm adding to my holdings at this point. Litecoin started selling on Coinbase last week and rumor has it that others will follow.  The market capitalization for all cryptocurrency increased by more than $25 billion in the last couple months, and the altcoins benefited from the majority of that.  The total cryptocurrency market is worth over $52 billion and Bitcoin now makes up just a little more than half of that amount.

While I think everyone should own some cryptocoin, please don't trade more cash for it than you are prepared to lose forever. It's still the Wild West and violent volatility will continue to be the rule for years to come.
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #333 on: May 18, 2017, 08:16:55 PM »
Today's prices exceeded $1900/BTC, with a market cap of more than $31 billion.  The spread between the various exchanges has narrowed considerably from two weeks ago.

The total cryptocurrency market cap now exceeds $64 billion.
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #334 on: May 21, 2017, 02:08:12 PM »
Bitcoin has been trading above $2000, twice what it started the year at, for more than 24 hours, bringing its market cap to $33.5 billion.

Ethereum has second place in the market cap race, at almost $14 billion, with a price around $150. It was going for $7 at the beginning of the year.

The market cap for all crypto currency is now above $73 billion.  Gold's market cap is more than $7 trillion.
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Offline osubuckeye4

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Re: Bitcoin currency (merged topics)
« Reply #335 on: May 23, 2017, 10:58:45 AM »
I agree, however, the real gamble to me is... will Bitcoin be "THE" virtual currency? Or, will something else take it's place?

^^man, this guy had no idea what he was talking about  8)

Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #336 on: May 23, 2017, 07:10:53 PM »
The cryptocurrency craziness just doesn't want to stop.  Current prices are above $2300, almost double what it was a month ago.


Wences Casares, CEO of bitcoin wallet Xapo and member of PayPal’s board of directors spoke at a conference today and predicted a price of $1 million within 5-10 years.  Seems like crazy-talk to me (especially since the closest anybody else has been willing to predict is half that), but fortunately he tempered that exuberance with:

“The biggest mistake [would] be to buy more bitcoin than you can afford to lose. The biggest mistake is [also] not to own any bitcoin. Put 1% of your net worth in Bitcoin and forget about it for 10 years”

For his prediction to be true, the 20 million bitcoins that will exist in 2027 would have a market capitalization of $20 trillion!  That's three times what gold is now.
« Last Edit: May 23, 2017, 07:25:20 PM by FreeLancer »
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Offline bigbear

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Re: Bitcoin currency (merged topics)
« Reply #337 on: Yesterday at 12:16:47 PM »
Consider buying some Ethereum or Litecoin, too.  That's what I'm adding to my holdings at this point.

Ethereum has second place in the market cap race, at almost $14 billion, with a price around $150. It was going for $7 at the beginning of the year.

I was just going to ask your thoughts on Ethereum!  I stumbled across it today.  This is an older article, but it speaks to the structural differences between Bitcoin and Ethereum (non-profit and more open usage). 
https://www.thebalance.com/what-s-the-deal-with-ethereum-3939137

Cryptocurrency shows little to no sign of stopping.  And it's easy to imagine reasons why it could continue its trajectory...  But I got curious about one angle:  Sovereign Wealth Funds.

If sovereign wealth funds (the investment accounts of a nation) were to buy into cryptocurrency, that would be a big move and signal.  Norway itself has $900 billion in sovereign funds.  If they dropped 10% into bitcoin, imagine the jump.  It would also signal a distrust of central banks, by the gov't themselves. 

So I tried to find out if any sovereign wealth funds have invested in any cryptocurrency.  And only found some speculation for Norway earlier in 2017.
http://bitcoinist.com/norway-wealth-fund-reinvest-bitcoin/

Does anyone know anything about sovereign fund investments in crypto?


"The saddest aspect of life right now is that science gathers knowledge faster than society gathers wisdom."
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #338 on: Yesterday at 06:50:04 PM »
I think Ethereum probably has the most potential of the current altcoins.  It's significantly different from bitcoin technologically and that allows it to be tailored to do things that bitcoin currently can't (and may never be updated to) do.  It suffered a crisis with the DAO attack and appears to have weathered the controversial hardfork that was implemented in order to restore what was stolen by the hack. 

Track record matters in the blockchain game, and there's lots of crapcoins and scamcoins seeking to lure you in, these are the sketchy penny stocks of the crypto market.  How a currency handles the inevitable attacks by bad actors (both internal and external) demonstrates the weak points and pitfalls in the underlying technology.  Bitcoin, being the first on the scene and having weathered the most negative press (Mt Gox, Silk Road, etc.), leads the way in terms of track record and confidence, although there's no guarantee it couldn't be supplanted by one of the upstarts.

As far as the sovereign wealth funds.  Who knows?  There's piles of money sitting in traditional financial vehicles right now.  If it does move onto the blockchain, my guess is that it will be done cautiously over a period of time.  Large piles of money aren't typically accumulated by rash behavior.


Current prices:

BTC  ~ $2600    $42.4 billion cap    50% of the entire crypto market
ETH  ~ $190      $17.4 billion cap
« Last Edit: Yesterday at 07:49:35 PM by FreeLancer »
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