Bitcoin Back Up To $1000

[anaconda]

Sell price is $1000 here on New Years Day 2017 at around 1:20 PM Pacific time.

https://www.coinbase.com/charts

 

[anaconda]

bump $1014 now.

 

[anaconda]

bump for no one cares that BTC is back over $1000

 

[FSP-Rebel]

bump for no one cares that BTC is back over $1000

The only folks who care are the half dozen or so of us that have been trying to educate the rest of the forum about why bitcoin was important over the last few years because we new this day was coming again yet the rest of the flock paid no mind. However, we've reached a pricing level where the average mainstream financial person would consider this a respectable token to add to their portfolio, 3 figures not so much.

 

[anaconda]

The only folks who care are the half dozen or so of us that have been trying to educate the rest of the forum about why bitcoin was important over the last few years because we new this day was coming again yet the rest of the flock paid no mind. However, we've reached a pricing level where the average mainstream financial person would consider this a respectable token to add to their portfolio, 3 figures not so much.

Thank you for the thoughtful comment. Interesting about the "4 figure" psychology that you posit.

 

[kpitcher]

I think Bitcoin will get more attention once it starts pushing into new highs. Until then it's like a dotcom stock, it flew high and just hasn't recovered yet.

Now that it's passed 1k for a few days it's getting closer.

 

[anaconda]

Seems kinda' mini-volatile around $1000 right now. Pin-balling from $990-something to around $1020-something...

 

[RonPaulIsGreat]

The truth of the matter is if the supposed "liberty" oriented people used bitcoin we'd have enough of a network of users to make living outside goobermint money possible for some, or mostly for many. However, I get the feeling that most of the liberty movement is merely composed of natural contrarians, and this movement is just a convenient niche to always be an oppressed group and provide infinite source material to complain and whine about.

However, here we are with a couple percent of the users participating, more users will whine about the fed than do anything about it.

Gold will never replace shit, it's easy to confiscate and manipulate. Bitcoin may still fail but that would be because of the ballless anarcho-capitalists, libertarians, etc... don't put their money where their mouth is.

 

[PaulConventionWV]

Seems kinda' mini-volatile around $1000 right now. Pin-balling from $990-something to around $1020-something...

It's in a clear uptrend, though. I honestly don't see a situation in which it doesn't make new highs now. There's no resistance from above anymore, and this coupled with an established trend will inevitably push it higher. How high cannot be known for certain.

 

[anaconda]

It's in a clear uptrend, though. I honestly don't see a situation in which it doesn't make new highs now. There's no resistance from above anymore, and this coupled with an established trend will inevitably push it higher. How high cannot be known for certain.

Simple money inflation should push it up as well.

 

[fr33]

As a non bitcoin owner, I don't see why pointing out such an increase is a good thing. Do you want it to be an investment or a valid currency? I still kick myself for not buying when it was worth $7 when I found out about it, but that's only because I could have got rich by dumping it. The long term value is in using it as a currency to bypass local laws and interest & exchange rates.

 

[RonPaulIsGreat]

As a non bitcoin owner, I don't see why pointing out such an increase is a good thing. Do you want it to be an investment or a valid currency? I still kick myself for not buying when it was worth $7 when I found out about it, but that's only because I could have got rich by dumping it. The long term value is in using it as a currency to bypass local laws and interest & exchange rates.

In order for it to be a valid currency it needs a high enough total "value" to facilitate the economic activity. Bitcoin is "worth" like 15 Billion dollars in USD total. That's simply to small to facilitate any real levels of economic activity, therefore it must go up in value if it becomes widely used. There are a maximum of 21 million bitcoin ever, so the only path is higher value if actual use increased dramatically.

 

[dannno]

As a non bitcoin owner, I don't see why pointing out such an increase is a good thing. Do you want it to be an investment or a valid currency? I still kick myself for not buying when it was worth $7 when I found out about it, but that's only because I could have got rich by dumping it. The long term value is in using it as a currency to bypass local laws and interest & exchange rates.

Widespread use also requires mining resources, and there are two ways to attract miners. One way is to use the currency and pay the fees to the miners for each transaction. The other way is to increase the value of bitcoin by investing in it so that the rewards miners get are worth more.

Early adopters, whether they are using the bitcoin or investing in it because they believe it holds future value, help to support the bitcoin infrastructure and as it is more successful they will be rewarded by the market for doing so.

If I had bought a few hundred or more bitcoin back in the day, I would be trying to hold onto the vast majority but I would probably have taken some profits a few times by now. I was about to buy some back when it was $13, but I am glad I got in at $70, then bought in some more when it dipped back down into the 300s.

 

[PaulConventionWV]

As a non bitcoin owner, I don't see why pointing out such an increase is a good thing. Do you want it to be an investment or a valid currency? I still kick myself for not buying when it was worth $7 when I found out about it, but that's only because I could have got rich by dumping it. The long term value is in using it as a currency to bypass local laws and interest & exchange rates.

There are some very valid uses of it that are very practical for people like me. For instance, I can't send money back to the US from China except through a Chinese friend. If I were able to connect a Chinese bank account to a bitcoin exchange, however, I could independently transfer money all I wanted at very low costs, no hassle, and no reliance on other people. These qualities alone make it viable, but nobody really knows what its true worth should be. The market appears to still be making up its mind, but it's clear that it has practical utility.

 

[oyarde]

bump for no one cares that BTC is back over $1000

I am holding out for 1 million .

 

[oyarde]

I would have been using it all along if I could use it anywhere I shop , so basically it is just an investment .

 

[dannno]

but nobody really knows what its true worth should be. The market appears to still be making up its mind, but it's clear that it has practical utility.

Currencies including the US dollar change value constantly. So does gold and silver.

Bitcoin has been more volatile, but on the whole it keeps going up (especially if you're looking at more longterm moving averages), and there is no problem with using currencies that are increasing in value because when you spend it, it is more likely to be worth more than when you got it.

 

[Okie RP fan]

Dang… I sold mine when it jumped back up to $500ish months ago.
Patience is a virtue. I'll learn next time.

 

[presence]

The long term value is in using it as a currency to bypass local laws and interest & exchange rates.

The long term value in bitcoin is very simple, it is 2 fold deflationary:

DEATH AND TAXES

DEATH: every time a bitcoin holder dies and fails to leave keys, the value of bitcoin relative to dollar increases

TAXES: every day fiat money supply rises; the value of bitcoin relative to fiat increases; inflation tax

if you believe people will keep dying and governments will keep taxing
then you should keep your savings in crypto,
simple as that

 

[presence]