# Lifestyles & Discussion > Bitcoin / Cryptocurrencies >  BTC up $100 in the last 24 hours.

## anaconda

Or thereabouts. I think it was about $578 when I checked yesterday or maybe the day before. About $694 now. 

https://www.coinbase.com/charts

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## kpitcher

Still nearly a month before the halvening too. Wow what a climb

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## Matt Collins

> Still nearly a month before the halvening too.


Can you explain this?

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## kfarnan

> Can you explain this?



There's a lot at play. The chinese are moving out of their currency controls.  The halving.  Insecurity of dollar and other currencies.

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## oyarde

> Can you explain this?


I imagine it as a dark , rolling storm .The skies open up and all worthless FRN's are sucked into the twilight. The Halvening.

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## ChristianAnarchist

Halving??  Anyone want to explain this?  How is it possible and when did this happen?  Why didn't the ratio of BTC to LTC reflect the difference?

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## oyarde

I think silver may break 17 1/2 today and gold has been as high today as about 1289 . I would think later this summer 1390 gold and 19 1/2 silver could be seen . What do you think bitcoin will be by Labor Day ?

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## kpitcher

> Can you explain this?


The reward for the miners will be cut in half very shortly. This happens along a pre-defined progress every 4 years. This will be the 2nd time it has happened. (50 coin reward became 25, 25 will soon become 12.5) 

There are many thoughts on what this will mean. It does cut the inflationary coin supply drastically and also makes mining even more difficult to be profitable. How this will affect the price is anyone's guess. My take is it will drive up the price as new coins are harder to get.

http://www.bitcoinblockhalf.com/

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## Matt Collins

> The reward for the miners will be cut in half very shortly. This happens along a pre-defined progress every 4 years. This will be the 2nd time it has happened. (50 coin reward became 25, 25 will soon become 12.5) 
> 
> There are many thoughts on what this will mean. It does cut the inflationary coin supply drastically and also makes mining even more difficult to be profitable. How this will affect the price is anyone's guess. My take is it will drive up the price as new coins are harder to get.
> 
> http://www.bitcoinblockhalf.com/


How has it affected price in the past?

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## kfarnan

> How has it affected price in the past?


Interpolating data might not work so well.  It will affect value growth positively.

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## muh_roads

> How has it affected price in the past?


The price went from $7 in the fall of 2012 (near the first halving) to $266 by March 2013.

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## FSP-Rebel

> How has it affected price in the past?


Wanna buy some bitcoins? The real money is here and not in the so-called precious metals that we've all sought in the Ron Paul days. got both but bitcoin is the digital cash that will be sought after during the next unfolding and nasty financial downturn. The Chinese are already hip to that which is why they've been buying.

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## ChristianAnarchist

The crazy one is ETH.  It's up from about 13 to 18 now in 2 days...

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## Danke

> Wanna buy some bitcoins? The real money is here and not in the so-called precious metals that we've all sought in the Ron Paul days. got both but bitcoin is the digital cash that will be sought after during the next unfolding and nasty financial downturn. The Chinese are already hip to that which is why they've been buying.


There are long lines in China to buy gold.

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## Matt Collins

I bought 1 BTC for $237 back in Feb '14.

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## oyarde

> There are long lines in China to buy gold.


1285 1/2 tonight in Asia .

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## Mad Raven

I guess I should have bought some more when John Mcafee mentioned bitcoin recently. This is right up his alley. He turns stuff to gold.

Of course, when the price hits $100,000 we'll be like, Damn! I should have bought at $50,000!

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## anaconda

BTC $738 at this moment.

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## RonPaulIsGreat

> BTC $738 at this moment.


Sucks it crashed down to 736, no point in it anymore.

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## anaconda

$774.68 now

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## oyarde

When mine gets to 1 million I am cashing out.

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## anaconda

> When mine gets to 1 million I am cashing out.


Even if that's a "hyper-inflation" 1 million?

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## oyarde

> Even if that's a "hyper-inflation" 1 million?


Yeah , if that is the case , three ounces of gold will be a Billion.

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## kfarnan

Brexit is pushing everything away from fiat.  To the mooooonn.

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## anaconda

> Brexit is pushing everything away from fiat.  To the mooooonn.


I think it dropped about $120 since Brexit. At $657.98 right now.

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## Zippyjuan

https://www.cryptocoinsnews.com/bitc...brexit-buyers/




> *Bitcoin Price Running Out Of Brexit Buyers*
> 
> The bitcoin price chart is slumping and a potential drop lower edges to the edge of support. Even as a long-term $1,750 swirled in the tea leaves yesterday, we can see a tea-tree ladder with rungs at $600, $560, and $500.

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## anaconda

Looks like it's inching towards $700 again...$683 right now..

https://www.coinbase.com/charts

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## oyarde

To the Moon !

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## ChristianAnarchist

OH NO!!!  It's 666 right now!!  I knew this stuff was EVIL!!

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## anaconda

Exactly $700 right now..

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