Hi All,
Just wondering what is your thought of BITCOIN which is well over $15000 USD.
I was monitoring that since it was $1100. Now its 14x and i was thinking $#/+ that is expensive a year ago and now i am thinking the same.
Any thought what do you think of it.
[edit]
Its hit today $19230+ USD.
Ok checked, it must have been 100 dollars worth of coins not 100 coins. Still a sizable chunk of money given the huge increases.
However about half are tokens which they aren't paying out yet.
Litecoin is an improved Bitcoin with faster transaction times (2.5min vs 9min).
The way I see it is Bitcoin is a decent pioneering coin, but it will be the better developed copycats that will be more popular in the end, given a few years. Assuming the whole thing isn't just a bubble of course.
bit coin started at 0.001c US :) in 2009 and people are buying them for $17,000 US today
Oh yeah I understand it and I understand bitcoin but it went off the rails a long time ago.
The amazing thing behind it is blockchain not bitcoin itself and it was supposed to be a decentralized currency free from the banks. It isn't a commodity but here we are people treating it like gold when really it is an arbitrary mathematical calculation which means absolutely nothing otherside the bitcoin world.
However what we have now is a speculation frenzy driven purely by greed and people who have no idea what they are getting into.
Is there anyway to check if someone who has passed away owned any bitcoin?
Look for wallet.dat on their computer, or any bitcoin wallet software on their mobile phone or computer. If you do find any it's highly likely the wallet will be password protected. There are services available to crack the password. Also the person may have had a paper wallet.
Okay thank you - I'll try that, it seems like something my dad would have got and then forgotten about (or maybe it's just wishful thinking)
Just because people are taking out mortgages to buy bitcoin because they keep hearing about the price of bitcoin which is mentioned everywhere every 5 minutes, it doesn't mean it's some kind of "bubble" or "frenzy", this is just a normal thing normal people do during normal times
Like the property market? Every day when I check the letterbox, there's spam from real estate agents. Every time I walk to work, there are signs up about the upcoming auctions or "SOLD" signs chilling on the nature strip for 3 months.
I can't get away from it, maybe I should buy a house!
Fortune favours the bold, and most fortunes are created by being at the right place at the right time.
That's it Muzzakus, sometimes, you gotta be in it to win it. I used to spend $25 per week for quick pick lotto. I told myself, if i put $25 per week in one of the coins, i think i have more chance of winning something than lotto.
How did it go?
going great actually, didn't expect bitcoin to go up as high as now, was expecting it to go to current price in next year. So retired now, also doing mining so there's another source of income and i can focus on my family more.
The right time was prior to 2017.
Nope, if you invested any time during 2017 you'd be laughing atm.
$1 million by 2020: John McAfee will still ‘eat his own d*ck’ if he’s wrong about Bitcoin
https://www.rt.com/news/411379-john-mcafee-bitcoin-predictio…
I hope he is hungry
You know he has a big one?!
If you don't understand hashing don't go near any cryptocurrency.
Like the old saying.. If you don't understand the product then don't invest in them.
Invest?
^ There's the mistake, IMO.
I think it's naive to think it's anything more than gambling. I see pretty much ZERO security medium-long term.
Guys. Which exchange do you use to buy Ripple? I am on Coinbase and IndependentReserve. They don't do ripple.
Its available on https://www.btcmarkets.net (I haven't used it though) - it had a spike in price yesterday. Looks to have come off a bit.
Social Experiment: Thinking of starting my own crpto currency and asking few friends to write few blogs about it on few different forms :)
Maybe I have watched one too many movies. Has anyone ever stop and considered who in the world provides the "True" audit of Bitcoin ?
The Myth = There will ONLY be 21 million Bitcoins EVER
Who has validated this Myth ?
There are countless people online who talks about the "published" algorithm or formula that Bitcoin use that restricts it to the 21 million limit. Has anyone actually audited the actual code on the Bitcoin ?
while countless people place their money into this "limited edition hype", what if the creators have another 100 million Bitcoins in their pocket. Since all the people in the world has exchanged their real cash and given the Bitcoin value, the creators can just enjoy the ride ?
basically, you said these guys are dumb: https://www.theverge.com/2017/12/4/16732952/winklevoss-twins…
"Has anyone actually audited the actual code on the Bitcoin" - you obviously haven't so go do your research before you talk silly nonsense.
Just cause some people won some money gambling doesn't make them smart or dumb. Just plain old lucky.
For these boys the money they spent buying Bitcoins was only pocket change to them. Similar to someone who spent $10 & won the Lottery.
But the Lottery is drawn under public scrutiny thus can be clearly audited for authenticity. My question is who has audited & proven that they are really only 21 million Bitcoins ?
My question is who has audited & proven that they are really only 21 million Bitcoins ?
You can look at the history of all the mined blocks here:
https://blockchain.info/
For example:
https://blockchain.info/block/00000000000000000058d74b1ecbf2…
Block Reward: 12.5 BTC
This is public and every bitcoin node (the network is made up of these) knows this.
As for the total supply, you can see the chain parameters here:
https://github.com/bitcoin/bitcoin/blob/master/src/chainpara…
Thanks for sharing the publicly available Bitcoin info.
It's like my dad use to say "Don't believe all the advertisement you see on Tele".
I'm still nowhere near getting the answer to my question. Who (independently) has verified that the actual published code or blockchain hash is actually in the Bitcoin other than what they are telling us ?
No problem, and you asked a good question which those in the know take for granted. It's a little hard to explain if you don't know the basics of proof-of-work, blockchain technology and computer software / open-source in general, but I'll try.
The bitcoin code is opensource. You can download that code from the link I sent you, and compile it yourself. There's no way that any other code can get in there at this point.
Lots of people have verified this code, and altcoin developers have used this code as a basis for their own coins.
I have compiled this code myself and verified that it works as expected. You can do this too if you want, for free.
As for the blockchain, the bitcoin miners are validating it all the time. What you see on blockchain.info can be validated using the software compiled yourself from github.
This is one of the reasons bitcoin is so disruptive, it's a trust-less payment system. You can verify everything yourself. Not only is it more believable than what you see on the tele, it's more believable than what you read on the nutritional info section on food boxes, or the specs of a VW golf.
Does anyone know of a site i can buy bitcoin (no verification req) using visa or mastercard and have it transferred straight into my wallet?
Coinjar and changelly charge about 10-13% fee for this service (way to high). Coinspot and coinbase have a 2 week verification wait time so thats out of the option.
localbitcoins.com.au
This is probably your only option without verification.
Er… Domain all gone away.
coinbase took 1 day for me. coinspot is just sitting there useless
I mentioned LISK on page 3 (Dec 8th) on here, was told off as shitcoin pedaling. Hopefully some of you made a position then.
Heh - and on the same day I noted (https://www.ozbargain.com.au/node/348085?page=1#comment-5388…) that I had put money on Cardano(ADA) and probably should have just put it on bitcoin. At the time it was around the $0.12 (AUD$0.16) mark. It's now at $0.52 (AUD$0.67) - so in hindsight, by not buying bitcoin, I was a genius and didn't know it…. ;-)
LISK is doing quite well, as are nearly all altcoins on the top 100 by market cap recently (Tether doesn't count). Under present gains you could have bought into many other coins and made similar (or better - I'm looking at you Cardano). What do you think LISK is doing to surpass other altcoins going forward?
Cardano will do well but to make a position now looking at the market cap and coin supply, it is a hard swallow. Everyone that got in at 12 cents, I salute you.
Agreed. I'm hodling ADA for the long term, along with Ether. Most others am happy to abandon when the time seems right.
STAY AWAY…. if you cannot afford to lose in this game. Too volatile to be a "virtual currency".
http://www.smh.com.au/business/markets/bitcoin-as-good-as-us…
Despite this being public knowledge… it doesn't seem to have had any effect. Which is odd, given it works similar to the stock market, only has no assets. i.e. Boom/bust is often sheep-like reactions due to their emotions.
I thought they didn't know who began bitcoin? I'm sure I read that a couple of days ago, that they have a Japanese name but it could be anyone, anywhere on the planet. So if that's true, and this guy is the co-founder, someone would have traced his associates and found the main guy by now.
Yep
it dropped hard today I was seeing minus 42% blody hell :/
Compared to what it went up in the last few weeks, it's still just under double what it was early-mid November. Isn't that to be expected, after the media recently talking it up - that it would settle again?
https://discord.gg/PDTaM5 if anyone is interested in a pump and dump discord(beware of the risks) 72k + members
It's funny how so many of my posts warning people about the crypto bubble were down voted. Now that all crypto is down 75 to 95%, it's clear who was right.
Pffft no you didn't. Your comment is along the lines of "there is no logical reason for bitcoin to be this price". Well, you could say there is no logical reason why it was ever worth $1. Pointless comment and you certainly didn't predict the end of a bubble.
It's still worth thousands of US dollars for one coin.
it's clear who was right.
2022 called and said "Welcome to da future, $30,097"
As per OP's post, it's over $15k ($19.2k) - must be a good time for y'all to sell 🧻🙌
Wasnt their issues with that?
Abyway will give it a go.