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SH3LLZ 2 years, 1 month ago.
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Bitcoin rebounds to $10,500 after regulator approves futures
Bitcoin rebounded Friday above $10,500, recovering from an earlier dip below $9,500, after the U.S. derivatives regulator said it would allow CME Group and CBOE Global Markets to list bitcoin futures.
The announcement by the Commodity Futures Trading Commission paves the way for CME and CBOE to become the first traditional U.S. regulated exchanges to launch trading in bitcoin-related financial contracts, a watershed moment for the cryptocurrency that could lead to greater regulatory scrutiny.
Bitcoin, which had been trading at around $10,150 on the Luxembourg-based Bitstamp exchange (BTC=BTSP) before the news, jumped to as high as $10,513 in the 20 minutes that followed, leaving it up more than 5 percent on the day.
It has been a volatile week for the biggest and best-known cryptocurrency. On Wednesday, bitcoin smashed through $10,000 before rocketing past $11,000 less than 12 hours later to an all time-high of $11,395, and then plunging around 20 percent in the hours that followed.
——I know a lot of people here want to hold a worthless bit of paper in their hand to say something has value,…having Bitcoin on the commodity’s market gives it the same weight as any other currency.
mgtow is its own worst enemy- https://www.campusreform.org/
I also believe that it will continue to go up, not sure until when though. It will eventually stabilize. Thoughts?
I think bitcoin will have a correction, but it will not be dramatic and end up in a trading range from around 7k to 10k, mostly being in the upper 8k lower 9k range.
Once a major chain store like a Wal-Mart runs an Ad we now accept bitcoin It will then just become a daily part of doing business.mgtow is its own worst enemy- https://www.campusreform.org/
Anonymous42Remember oil futures? Drove gasoline to $4.50 a gallon! Then the future came as oil crashed from over value thanks to the “futures investors”. If future’s investors learned anything they’ll avoid long term investments on such a volatile exchange. If hot feet do start a stampede, get in and get out leaving the suckers to suffer the reset!
I’m investing in self sufficiency and precious metals to buffer hyperinflation from the fiat runaway dollar and the crooks that manipulate it!
A silver coin in the hand is worth more than all the bit-coins in the bush!
I wouldn’t trust cloud cash as much as gold and silver cash.
Nobody can f~~~ with my metal! You can’t print silver and gold, you can however cut, copy, and paste bit-coins in and out of existence.
Someone f~~~s with “the rules” and kiss all your bitcoin goodbye!
Want my silver? First you have to take my lead!
Silver, gold, and lead! Best investment in volatile times!
I think bitcoin will have a correction, but it will not be dramatic and end up in a trading range from around 7k to 10k, mostly being in the upper 8k lower 9k range.
Once a major chain store like a Wal-Mart runs an Ad we now accept bitcoin It will then just become a daily part of doing business.I am with you.
Hummmm im a skeptical about bitcoin.
I can’t stop the feeling of “this s~~~ is useless “ is worst than paper money.
It ain’t even real.
To those following me, be careful, I just farted. Men those beans are killers.
As of today according to coin base its at 10.9 looking to top 11 again. I don’t necessarily trust it fully yet, but I see a good investment vehicle. If you can afford it, jump in and hold it. I agree that once places like Walmart and even Amazon start accepting it, we’re on for an amazing turn of events…
#ICETHEMOUT!!! #MANOUT!!! #HIDEYOURWEALTH #VAGINAISWORTHLESS
Nothing in the internet is real, i could be a married guy with 4 kids and this is just my alter ego, where I create my fantasy that I’m single.
I could be a woman or the only smart dog on the planet with access to his owner internet…
And bitcoin ain’t more real than this.
To those following me, be careful, I just farted. Men those beans are killers.
As of today according to coin base its at 10.9 looking to top 11 again. I don’t necessarily trust it fully yet, but I see a good investment vehicle. If you can afford it, jump in and hold it. I agree that once places like Walmart and even Amazon start accepting it, we’re on for an amazing turn of events…
There is rumors amazon will start using it, but I have a doubt.
Wold you use something that is considered an asset to make money (price always increasing) to buy stuff? Or wold you hold it to see if it keeps going up?
By the way guys, any estimation about IOTA?
To those following me, be careful, I just farted. Men those beans are killers.
I think bitcoin will have a correction, but it will not be dramatic and end up in a trading range from around 7k to 10k, mostly being in the upper 8k lower 9k range.
Once a major chain store like a Wal-Mart runs an Ad we now accept bitcoin It will then just become a daily part of doing business.Right now though…most people who are buying Bitcoin are doing it as an “investment” hoping the value goes up. There seems to be very little interest in using it as a currency, and oddly enough regret from people who used it as currency several years ago and now look at it like f~~~…if I hadn’t bought that pizza and cab ride I could have bought a Corvette.
Let’s just say we had a 20% correction and Bitcoins value seems to stabilize at 9000 for at least a year…if I’m not throwing money at Bitcoin crossing my fingers the value is going to keep going up, and I’m not doing anything illegal…what reason do I really have to bother with Bitcoin?
If I just want to shop at Walmart…its plenty easy enough for me to just swipe my credit. My credit card also comes with fraud and theft protection and gives me a % back as cash rewards which is pretty sweet if it was money I would have spent anyhow. What does Bitcoin do for me?
Remember oil futures? Drove gasoline to $4.50 a gallon! Then the future came as oil crashed from over value thanks to the “futures investors”. If future’s investors learned anything they’ll avoid long term investments on such a volatile exchange. If hot feet do start a stampede, get in and get out leaving the suckers to suffer the reset!
What I find interesting is with the oil bubble people were busy pointing the finger at OPEC and regulations we had in place here. With the housing bubble people pointed the finger at the banks. With the Bitcoin bubble…who will they blame? People are buying in trying to make a quick buck…when it eventually goes there will be nobody to blame but themselves and their own greed.
Ultimately the government has no reason to stop bubbles. Investors make a killing when a bubble is inflating. The government taxes those gains all the way up to the top. When the bubble eventually implodes the losses you can write off are limited.
The only entity that wins from every economic bubble we have is the government.
So what scenario dose gold and silver work. Society collapse? Hell no, if I have a basket of apples the last thing I want is a gold coin, what I would want is .243 shells for my rifle. Going out and buying something now,…lol good luck with that no one will have any idea how to exchange them. Long term investment? there again waste of time.
The only way gold and silver works is in the current system and you just want to hold on to some value.Beer’s credit card comment,..it is more like a debit card. Otherwise it is just like having a card when using.
In time I see banks using it in a system like other currency with credit cards, in which you use your bitcoins to pay your bill.No anti bitcoin comments hold water. To many people want a currency outside the control of a government.
If you by choice do not use bitcoin that is you. I will use them even though at the time I do not own any.mgtow is its own worst enemy- https://www.campusreform.org/
No anti bitcoin comments hold water.
Can you give me a single reason why I’d want to use it as a currency over my credit card?
Like I said…my credit card gives me cash back rewards, and if my data gets stolen I can get fraudulent charges removed, and can promptly get a new card/number if needed. Why would I want to give up those benefits for Bitcoin?
I won’t ever walk into a restaurant and walk out 100k less wealthy because some sketchy s~~~ happened. Ask this guy if the same is true with Bitcoin…
https://businessdigit.com/bitcoin-account-holder-loses-100000-on-a-public-wireless-network
Let’s just forget about the whole concept that Bitcoin is as fiat as fiat can be, and its value is literally a giant speculative bubble backed by nothing…I think you’d have to be a complete moron to have never heard any anti-Bitcoin arguments that hold any water.
To many people want a currency outside the control of a government.
Its so rarely used as a currency though…I’m just not buying the whole “currency” concept of it. I asked a buddy of mine recently where he can spend his Bitcoin around here, and the only place he could name was “Subway.” He then followed up with, “But I asked one of the workers in there last time I went there for lunch how I’d go about paying with Bitcoin since I’ve never done it before and was curious, and they didn’t know how to ring me out.”
Another issue with Bitcoin as a currency a lot of Bitcoin fans, who ironically probably never used it as a currency, also probably never thought about. If you are handling your Bitcoin in a legal manner, every time you “spend” Bitcoin, its treated like selling a stock…that means literally every one of these transactions will be on your tax return. Not so much where you spent your Bitcoin…but the price paid for it and the price its sold(spent) at so you can be taxed accordingly if the value of it increased at all. If you make a few transactions a day, even for small things, that means when you do your taxes you’ll literally have to type in thousands of transactions…again I don’t know why on earth I’d rather do this as compared to just using my credit card.
In other words your tax return is going to be an absolute nightmare if you are using Bitcoin as currency and doing it legit, and if you aren’t I hope you never get audited.
It is not like using your credit card,…If you have a debit card then that would be a comparison.
The only comparison to a credit card is in paying of your bill with bitcoin instead of some other currency.Right now most use of bitcoin is online purchases. In other countries use it more in daily transactions. In places like https://www.forbes.com/sites/realspin/2017/02/03/why-venezuelas-currency-crisis-is-a-case-study-for-bitcoin/#2cbfc5f119b2
Why Venezuela’s Currency Crisis Is A Case Study For BitcoinAs the value of hard currency changes drastically—and often—developing or recession-hit countries are finding Bitcoin as an innovative solution.
https://sputniknews.com/latam/201612161048650138-bitcoins-venezuela-payments-purchases/
Venezuelans Switching to Use of Bitcoins for Payments, Necessity Purchases
——-right now I am going to guess you use the US dollar, It is what you have always known it is your old friend. Depending on how old you are it is like all of a sudden using a computer or cell phone. It is new it is different you are unsure. You dove in and got use to using a computer and a cell phone, You even use it to buy things,……..nothing different then using bitcoin.
mgtow is its own worst enemy- https://www.campusreform.org/
It is not like using your credit card,…If you have a debit card then that would be a comparison.
The only comparison to a credit card is in paying of your bill with bitcoin instead of some other currency.Credit/debit…it doesn’t matter. For credit I click “bill pay” once a month when I check my account balance at some point and its paid. Its the concept that its already fast, easy, and secure to swipe a plastic card(or punch a number in if its online), so what is the actual benefit of me adding more steps in by converting to Bitcoin just to make my tax return a nightmare? Its literally another line you have to type in on your taxes if you do something as minor as swipe your credit card to buy dollar soda out of a vending machine. Imagine you pay for a soda at work every day with Bitcoin…then tax return time comes and you have to type in 200 something lines of how much you paid for said Bitcoin and the value of it when you spent it because if you made any gains off it the government wants their cut.
Plus you have to pay fees every time you buy/sell Bitcoin, and may have to pay fees when you use it. Again…why would I want to do that when I could just use a plastic card with a number on it that pays me rewards every time I use it?
Right now most use of bitcoin is online purchases. In other countries use it more in daily transactions.
Here is an interesting reddit post(the math in the post is outdated but the chart in the link is current) with a blockchain link showing some data about actual use of Bitcoin…
What percentage of all online transactions does Bitcoin take up? from Bitcoin
If millions of people own Bitcoin and if for the past few months its average about 300k transactions a day…do you know what that means? Hardly anyone is using it for daily transactions or you’d have millions of transactions a day. Obviously I don’t have data on where every one of those transaction went to/from…but I’d be willing a to wager a good chunk of them are people simply buying/selling trying to make a profit.
Bitcoin is by design a deflationary currency. That basically means it incentivizes holding on to it because as long as deflation continues it will be worth more in the future. Deflation is far more damaging to an economy than small amounts of inflation. This very thing alone is guaranteed to make it fail as a currency. So now its in a spot where its garbage as a currency and only good for a speculative “investment.” I’m just not seeing where the long term viability of it comes into play…soon as the quick buck hype wears off people are going to stop and think “wait…why do we want this worthless, useless junk again?”
In places like https://www.forbes.com/sites/realspin/2017/02/03/why-venezuelas-currency-crisis-is-a-case-study-for-bitcoin/#2cbfc5f119b2
Why Venezuela’s Currency Crisis Is A Case Study For BitcoinInvesting in the most fiat of all fiat currencies based upon the risk the dollar might collapse seems…seems kinda silly…
Venezuela is a failed state, not just a failed currency, and ultimately any store of wealth would have been better than sitting in Bolivar.
As the value of hard currency changes drastically—and often—developing or recession-hit countries are finding Bitcoin as an innovative solution.
Dude I regularly watch Bitcoin swing 10%+ in a day. I’m 33 and haven’t seen the dollar move that much in a year in my lifetime, let alone in a day lol. I don’t think the stability argument is something Bitcoin has going for it.
The dollar has steady inflation, sure, but even in a recession the value of a dollar doesn’t exactly get massacred. Exchange rates change a bit but historically its not like we go into a recession and a dollar loaf of bread now cost 4 because the value of the dollar is plummeting…and since we are such a big economy we kind of have the benefit that us going into a recession generally is accompanied by other countries going into one as well.
Meanwhile…Bitcoin has something worse than steady inflation…steady deflation. Deflation means people won’t want to spend it because they know it will be worth more next week…which can kill economies. In essence would you want to buy a 300k house today if you knew next year your 300k would be worth 310k and you could buy that house for 290k? Hell no you wouldn’t. And after that year…would you want to buy it if you knew the next year your 310k would be worth 320k and the house 280k? Nope! Its the same for making any large purchase or investment…and once spending and investing slows, its hello recession! Its also the reason Bitcoin is hardly used as an actual currency…because people are buying it thinking it will be worth more next week. Again…once Bitcoins meteoric ascension comes to an end and people aren’t buying it because they think they can make money off it…why are they going to buy it? So they can pay fees to buy/sell it, be limited as to where they can spend it, and make their tax return a nightmare if they use it often? Sounds “awesome!”
Venezuelans Switching to Use of Bitcoins for Payments, Necessity Purchases
I think you’ll find there is more to it than just that…because again…there aren’t enough transactions to support that any large population of people is consistently using it for daily expenses. If you research Venezuela a bit you’ll find that not only do they have hyperinflation, but they have dirt cheap subsidized electricity…meaning mining is massively profitable. Me or you mining here in the states isn’t nearly as profitable as some Venezuelan mining in relative terms. Ironically enough converting from bolivar to Bitcoin to USD is also something popular among Venezuelans.
Additionally…if you research some more recent articles…you’ll find that the Venezuelan government is cracking down on virtual currencies/mining. Why is that? Its like I’ve been saying…governments aren’t going to mind it when its just a speculative bubble they can tax or something that’s simply not widespread enough to care about…but soon as it starts to interfere with their ability to manipulate their currency, they will crack down on it.
——-right now I am going to guess you use the US dollar, It is what you have always known it is your old friend. Depending on how old you are it is like all of a sudden using a computer or cell phone. It is new it is different you are unsure. You dove in and got use to using a computer and a cell phone, You even use it to buy things,……..nothing different then using bitcoin.
Of course I use dollars for my daily transactions just like an overwhelming majority of people, including Bitcoin holders lol…and yeah…it is different than Bitcoin, as I outlined above its simply faster, easier, and I have some recourse in the event of theft/fraud/loss that I would not have with Bitcoin. If Bitcoin actually did something better for me than my credit card other than more fees and making my tax return a nightmare I might use it…but as it is now it doesn’t.
The thing is though, which I also think you don’t understand, is its not a Bitcoin vs dollar argument, because a single digit % of my net worth right now is actually in dollars, and I have no reason to use Bitcoin as a currency. Considering an overwhelming amount of Bitcoin is held as an investment right now its more a comparison of Bitcoin vs other investment vehicles. I read recently Bitcoin has a higher market cap than Pepsi. If you ask me if I’d rather invest 20,000 dollars in Pepsi, a company that has been around and turning profits for over a hundred years, that owns many popular brands, that has operations all around the world, and that actually produces products with some demand, that has some fundamentals that backs up its valuation and has a long history of paying a steady dividend…or Bitcoin…a fiat currency who’s most popular use is for people to try to buy high and sell low and walk away with a profit…I’d take Pepsi any day of the week.
I started using a computer because it allowed me to access endless amounts of information and entertainment right from my desk. It did something better and more efficient than stopping at the movie rental store to get a VHS for next weekend, stopping at the store to buy a few magazines to check out some upcoming video games, and stopping at the library to borrow some books for some research…I could do all those things without ever leaving my house. It terms of using Bitcoin as an actual currency…its not easier, safer, faster, or more efficient in any way than the dollar…so why should I bother with it?
Bro, you type to much.
The thing with bitcoin is it is new. Use in day to day transactions is recent(just a few years) and for some the idea is not even possible. It is just going to take some time for some of you all to get use to the idea. Like it or not crypto currency is here to stay. Accept it or not sooner or later you will be face to face with it.mgtow is its own worst enemy- https://www.campusreform.org/
https://www.yahoo.com/news/venezuela-start-own-digital-currency-061700207.html
So after cracking down on Bitcoin and going as far as to jail miners, Venezuela is starting its own crypto currency…
Venezuela…a case study for Bitcoin? I’d say…its a great example of how governments can and will crack down on it in various ways when it interferes with their control over their nations currency, and if you ask people to invest in the new Venezuelan crypto currency they’ll probably tell you “Hell no…that stuff is junk,” and not see the irony of it if they have money in Bitcoin.
Id definitely hold and trade. I’d maybe make a few small purchases here and there.
#ICETHEMOUT!!! #MANOUT!!! #HIDEYOURWEALTH #VAGINAISWORTHLESS
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