Bitcoin Cracks $5000

[Dark_Horse_Rider]

The magicianeers are desperately trying to get more Bitcoin into trading circulation in attempt to gain massive majority

 

[devil21]

The magicianeers are desperately trying to get more Bitcoin into trading circulation in attempt to gain massive majority

That's another similarity to the stock market, actually. You do not own stocks. You only have a "tag" on a stock share. Bitcoin is the same. You do not own a Bitcoin. You own a "tag" for a Bitcoin on the blockchain. When you "move your Bitcoin to cold storage" all you're really doing is moving that "tag" away from the exchange, where it could otherwise be lost.

Stocks are owned by a Fed holding company called Cede&Co. Someone owns the Bitcoin blockchain, though I don't know who exactly. I'd bet the usual suspects but I don't currently care enough to read an exchange Terms and Conditions to see.

 

[FSP-Rebel]

That's another similarity to the stock market, actually. You do not own stocks. You only have a "tag" on a stock share. Bitcoin is the same. You do not own a Bitcoin. You own a "tag" for a Bitcoin on the blockchain. When you "move your Bitcoin to cold storage" all you're really doing is moving that "tag" away from the exchange, where it could otherwise be lost.

Stocks are owned by a Fed holding company called Cede&Co. Someone owns the Bitcoin blockchain, though I don't know who exactly. I'd bet the usual suspects but I don't currently care enough to read an exchange Terms and Conditions to see.

Your private key is the ownership stake over any said # of bitcoins in any of your wallets. Its blockchain is run by a decentralized network of volunteer node operators that manages electronic cash w/o a central administrator.

If you care -> http://www.zdnet.com/article/blockchain-explained-in-plain-english/

 

[anaconda]

Folks were giddy and amazed when BTC hit $8K around Thanksgiving, after 11 months of surreal growth. It's currently at the Thanksgiving price. Still a phenomenal increase from 1 year ago.

 

[TheTexan]

 

[Mordan]

my bitcoins are safe.. bankers will not put their hands on it.

 

[anaconda]

$8,050

 

[Krugminator2]

Only posting this because I think it is funny.

 

[EBounding]

Holy moly, people are dumping today, < $7K. Anyone here buying?

 

[dannno]

Holy moly, people are dumping today, < $7K. Anyone here buying?

Ya I've been making small purchases on the way down starting around 10k.

Litepresence switched his call to $6950 bottom, then thinks it is going to go up to 10k or so again in the next 10 days (he is on twitter)

 

[Krugminator2]

Holy moly, people are dumping today, < $7K. Anyone here buying?

I am scaling in. Bought a 1/4 position at 7k and another at 6700 and will do 6400 and 6k if those get hit.

 

[timosman]

How soon before the thread title becomes relevant again on the way down?

 

[Madison320]

How soon before the thread title becomes relevant again on the way down?

I'm waiting for it to hit gold again.

 

[anaconda]

$7,036

 

[r3volution 3.0]

Notice that BTC followed stocks off the cliff, while gold and silver rallied.

 

[dannno]

Notice that BTC followed stocks off the cliff, while gold and silver rallied.

Ya it shows you how behind the times old school investors still are.

 

[timosman]

Ya it shows you how behind the times old school investors still are.

Famous last words.

 

[Gaddafi Duck]

Ya it shows you how behind the times old school investors still are.

LOL, actually, it shows Bitcoin's price hysteria was a product of cheap money.

 

[Crashland]

$6300
Welcome to cryptocurrency volatility. This is one of the worst corrections the industry has experienced but there have been many of these mass-panics on the way up.

 

[Danke]

Ban. My best buddy died.