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[Finance] The cryptocurrency (Bitcoin etc) thread



Sirius76

Banned
Oct 28, 2008
107
Been noticing the price going up a lot lately. I think it's the highest ever now and has gone up nearly 10% today to close to $1500 each!

www.preev.com has the price [EDIT: hmm actually the price might be a glitch on that site as it's shown as $1350 in other places...I just noticed a big jump so maybe it's not accurate at the mo]

I received a partial refund from a Chinese company in bitcoins about 18 months ago...about 10 of them. They were worth £3000 (seems a lot but I had sent them a bank transfer of a lot more than this) and they have now almost quadrupled in value!

I wonder how high it will go?? All I know is there is a limited amount that can be created so they can't really be deflated too much. I did read that it was predicted to end up on a price of $2000 by the end of the year but this was just some article and someone's opinion.
 






The Andy Naylor Fan Club

Well-known member
Aug 31, 2012
5,144
Right Here, Right Now
2017-05-01-17-46-26--2054516673.jpg
 


Driver8

On the road...
NSC Patreon
Jul 31, 2005
15,951
North Wales
Been noticing the price going up a lot lately. I think it's the highest ever now and has gone up nearly 10% today to close to $1500 each!

www.preev.com has the price [EDIT: hmm actually the price might be a glitch on that site as it's shown as $1350 in other places...I just noticed a big jump so maybe it's not accurate at the mo]

I received a partial refund from a Chinese company in bitcoins about 18 months ago...about 10 of them. They were worth £3000 (seems a lot but I had sent them a bank transfer of a lot more than this) and they have now almost quadrupled in value!

I wonder how high it will go?? All I know is there is a limited amount that can be created so they can't really be deflated too much. I did read that it was predicted to end up on a price of $2000 by the end of the year but this was just some article and someone's opinion.

Forgive my ignorance but what can you do with bitcoins? Can you turn them into real cash?
 








Herr Tubthumper

Well-known member
NSC Patreon
Jul 11, 2003
59,198
The Fatherland
My Bitcoins got robbed from the MtGox bank. I'm now part of a Japanese court case. I have no idea what's going on but I receive letters in Japanese every so often.
 








Neville's Breakfast

Well-known member
May 1, 2016
13,423
Oxton, Birkenhead
Been noticing the price going up a lot lately. I think it's the highest ever now and has gone up nearly 10% today to close to $1500 each!

www.preev.com has the price [EDIT: hmm actually the price might be a glitch on that site as it's shown as $1350 in other places...I just noticed a big jump so maybe it's not accurate at the mo]

I received a partial refund from a Chinese company in bitcoins about 18 months ago...about 10 of them. They were worth £3000 (seems a lot but I had sent them a bank transfer of a lot more than this) and they have now almost quadrupled in value!

I wonder how high it will go?? All I know is there is a limited amount that can be created so they can't really be deflated too much. I did read that it was predicted to end up on a price of $2000 by the end of the year but this was just some article and someone's opinion.

They certainly can be deflated significantly because limited supply is not the only price driver. There have been many large falls in price along with the dramatic rises. One significant price risk is regulation of money laundering.
 




Dec 29, 2011
8,014
The graph looks like it's only really going in one direction: http://www.xe.com/currencycharts/?from=XBT&to=USD&view=1Y

Yes, graphs often do that before a big crash. Bear in mind a lot of what you read online regarding the value of bitcoin is funding by people with big investments in bitcoin. If they hold 10,000 bitcoins and the price goes up $500, they've just made a $5m profit. The increase in value you're seeing could be the result of an aggressive marketing campaign, this is the very definition of a bubble.
 




Sirius76

Banned
Oct 28, 2008
107
https://99bitcoins.com/bitcoin-price-prediction-for-2017/

"Banker Predicts $600 for 2016, Doubling in 2017

At the beginning of the year an analyst with Wedbush Securities, Gil Luria, predicted a price of about $600 in 2016. As of right now, Luria’s prediction is pretty much spot on as bitcoin has been trending at about $600 dollars over the past several weeks. Luria believes that bitcoin will continue to grow as a transaction medium, another prediction that largely appears to be correct.

For 2017 Luria predicts that bitcoin’s price will once again double. In fact, Luria believes that bitcoin’s price will essentially double all the way up until 2025, which would mark an increase of 4,500%! If this prediction turns out to be correct, investors could generate massive returns."
 




beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,265
yeah they could double every year to 2025, or they could crash and burn to $1 next month. there are problems ahead dealing technical issues, and you can start up an alternative blockchain at the drop of a C program (as many have, theres dozens around already), so the foundations of bitcoin aren't nearly as assured as evangelists claim. if i had 10 bitcoins today i'd be selling a few to hedge.
 


Goldstone1976

We Got Calde in!!
Helpful Moderator
NSC Patreon
Apr 30, 2013
13,765
Herts
yeah they could double every year to 2025, or they could crash and burn to $1 next month. there are problems ahead dealing technical issues, and you can start up an alternative blockchain at the drop of a C program (as many have, theres dozens around already), so the foundations of bitcoin aren't nearly as assured as evangelists claim. if i had 10 bitcoins today i'd be selling a few to hedge.

I've been in and out a few times. Got 3 cycles about right, got one wrong. As others have said, this has been, is, and imo will always be a bubble. Seriously speculative. Can make stupid money; could lose it all.
 


Herr Tubthumper

Well-known member
NSC Patreon
Jul 11, 2003
59,198
The Fatherland
So. I'm quite out of touch with Bitcoins these days after my MtGox experience. What's the best place/bank to buy them?
 


Seagulltonian

C'mon the Albion!
Oct 2, 2003
2,773
Still Somewhere in Sussex!
https://99bitcoins.com/bitcoin-price-prediction-for-2017/

"Banker Predicts $600 for 2016, Doubling in 2017

At the beginning of the year an analyst with Wedbush Securities, Gil Luria, predicted a price of about $600 in 2016. As of right now, Luria’s prediction is pretty much spot on as bitcoin has been trending at about $600 dollars over the past several weeks. Luria believes that bitcoin will continue to grow as a transaction medium, another prediction that largely appears to be correct.

For 2017 Luria predicts that bitcoin’s price will once again double. In fact, Luria believes that bitcoin’s price will essentially double all the way up until 2025, which would mark an increase of 4,500%! If this prediction turns out to be correct, investors could generate massive returns."

Just had a quick look at the price as £'s, and it's up at £1200 already. :eek: Is it still on an upward trend? If so, I'll be trying to accumulate some bitcoins!
The most I've ever had is 0.01.
Anybody want to reveal how many they've got?
 




Bold Seagull

strong and stable with me, or...
Mar 18, 2010
29,719
Hove
https://99bitcoins.com/bitcoin-price-prediction-for-2017/

"Banker Predicts $600 for 2016, Doubling in 2017

At the beginning of the year an analyst with Wedbush Securities, Gil Luria, predicted a price of about $600 in 2016. As of right now, Luria’s prediction is pretty much spot on as bitcoin has been trending at about $600 dollars over the past several weeks. Luria believes that bitcoin will continue to grow as a transaction medium, another prediction that largely appears to be correct.

For 2017 Luria predicts that bitcoin’s price will once again double. In fact, Luria believes that bitcoin’s price will essentially double all the way up until 2025, which would mark an increase of 4,500%! If this prediction turns out to be correct, investors could generate massive returns."

They've a vested interest in making predictions though: https://www.wedbush.com/media/news-release/1674
https://www.cryptocoinsnews.com/wedbush-securities-hiring-bitcoin-director/
 


Bold Seagull

strong and stable with me, or...
Mar 18, 2010
29,719
Hove



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