Bitcoin Cracks $5000

Somebody made a huge buy today. https://cointelegraph.com/news/bitc...-30-minutes-of-market-growth-across-the-board

Bitcoin’s Price Jumps $1,000 In 30 Minutes Of Market Growth Across The Board


The crypto markets experienced an explosion of growth today, April 12, with Bitcoin (BTC) jumping more than $1,000 to break $8,000 over just a 30 minute period, and the rest of the market solidly in the green.

While no specific events have been confirmed as the reason for the sharp price jumps across the board, Twitter users have speculated that the recent news that Bitcoin has been declared compliant with Shariah law – according to a report published online today, April 12 – may have contributed to the spike
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Currently down about $500 from that spike above $8,000.

d04f084a8eb59d810dfb15a6c0052d60.jpg
 
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Do you think Bitcoin will reach 20k again? I track it all the time on https://www.crosslytics.com/ and read some predictions on it and want to try invest in BTC soon again. What are your thoughts on it, guys? Maybe you can recommend me something about it too ;)
 
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Davideer said:
Do you think Bitcoin will reach 20k again? I track it all the time on https://www.crosslytics.com/ and read some predictions on it and want to try invest in BTC soon again. What are your thoughts on it, guys? Maybe you can recommend me something about it too ;)
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yes it will. By next halving in 2020.. it is a 99% given. Just very few people understand that. Those who do hodl and accumulate.
Some crazies like McAfee say that it will be 1 million dollars in 3 years. I don't believe that's likely. But 20k... of course.
 
It appears with Bitcoin climbing it's pulling some of the other coins upwards also. Not sure how long this trend goes but it'd be nice for this to be an across the board climb like the end of 2017.
 
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$7661.

Anyone care to speculate on the continued downward trajectory? mt.gox continued dumping? I remember reading somewhere that sale of their coins by the trustee would not effect the markets?
 
MIT Tests Smart Contract-Powered Bitcoin Lightning Network
https://www.coindesk.com/mit-testing-smart-contract-powered-bitcoin-lightning-network/
An MIT test is providing a rare glimpse of how bitcoin might truly work at scale.Revealed to CoinDesk last week, the prestigious U.S. university has been quietly demoing an experimental use case for bitcoin's lightning network, one that showcases how it might be combined with smart contracts to not only handle millions of transactions, but do so with a greater degree of complexity.

Modeled within the school's Digital Currency Initiative, started in 2015 as a way to further R&D on cryptocurrencies, the test envisions a system wherein transactions would take place automatically in the case of defined external events, based on say today's weather or the current price of U.S. dollars.

This is possible due to MIT's creative use of so-called "oracles," trusted entities meant to broadcast data to smart contracts. For this demo, researchers Tadge Dryja and Alin S. Dragos built a test oracle to broadcast the recent price of U.S. dollars in satoshis, the smallest unit of bitcoins, which anyone can grab and use for their smart contracts.

It's a notable step forward for the idea, one first proposed by lightning inventor Dryja last summer. However, this is the first time it's been implemented as a prototype with working code.

Dragos told CoinDesk:

"We built this as a standalone feature of our lightning network software. We chose data what we thought would be cool, U.S. dollars, but it could be any data you want, whether weather or a stock."


​
Dragos stressed that the demo is "experimental" and "shouldn't be used for real money." That said, he and other MIT researchers are convinced that with the help of the lightning network, bitcoin might one day scale to capacities originally envisioned by its early users.
As part of that work, MIT researchers have already created an implementation for the lightning network called lit, and this oracle code is an add-on of that work.

"We at DCI, we really believe in the lightning network," Dragos said. "Bitcoin doesn't scale very well. I decided there has to be something better. Turns out what's better is lightning. It's the way to scale."

Bitcoin smart contracts

But while lightning provides scale, smart contracts add other new functionality to bitcoin. For example, should the tech in MIT's test be implemented, you could make some sort of a bet based on what's happening in the world.

Or, in this case, a futures contract. Alice promises to pay Bob whatever the price of dollars is in satoshis on a certain day, say Friday. If a dollar is worth 12,150 satoshis by the end of the week, then she will end up paying that.

It's a kind of advanced smart contract use case that is usually not associated with bitcoin.

"When folks think smart contracts, they think ethereum. Their scripting language is much richer," Dragos admitted.

But, he argues that with some workarounds, bitcoin can do the same thing.

"It's not as developer friendly because bitcoin didn't go in that direction, but you can use it. You have to be a little creative," Dragos said.
In short, it uses Dryja's "discreet log contracts" scheme to broadcast data to the smart contracts. One of the most important advantages of this scheme is scalability, because most of the data doesn't need to be stored on the bitcoin blockchain.
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Going to hit $5,000 again- in the other direction? Dropped below $6,000 today. Lowest since October. Year to date is is off more than 50% ($13,500 as the year started). It was almost $20,000 in December (peaked Dec 6 at 19,350). Lost two thirds of its value since then (however, it is still double what it was a year ago so the bubble may have a ways more to deflate).
 
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Zippyjuan said:
Going to hit $5,000 again- in the other direction? Dropped below $6,000 today. Lowest since October. Year to date is is off more than 50% ($13,500 as the year started). It was almost $20,000 in December (peaked Dec 6 at 19,350). Lost two thirds of its value since then.
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I'l bet Kludge who was mining by 2011 is still doing well.
 
Danke said:
Yep. Maybe why he let the forums. Probably in the islands with hookers and blow.

I bought some from him when it had already reached ~$600
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That's not to bad either! It is just to volatile for me (plus I see it more as a gimmick than a real investment)
 
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