Bitcoin past 19k, creeping to 20
#7056638
11/20/20 01:21 PM
11/20/20 01:21 PM
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Which is nearly 5x the low point this spring. Things not looking good . Have to check gold now.
Last edited by SNIPERB🦝; 11/24/20 01:29 PM.
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7056884
11/20/20 06:44 PM
11/20/20 06:44 PM
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i need ltc to take off lol. its hasn't piggy backed off BTC like it did in 17 at all. Though it has been climbing lately. It's peak was 420
Last edited by SNIPERB🦝; 11/20/20 07:11 PM.
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7057018
11/20/20 08:41 PM
11/20/20 08:41 PM
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The market regulates it as there is no centralized authority and nobody really knows who actually started bitcoin. Bitcoins are "mined" and transactions go through multiple verification nodes(blockchain) so security is unbreakable unless your password sucks. Most of the other coins are derivatives of bitcoin. Each crypto has its own framework for mining and trading.
Last edited by SNIPERB🦝; 11/20/20 08:41 PM.
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7057039
11/20/20 08:51 PM
11/20/20 08:51 PM
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Foxpaw
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I was getting recommendations several months ago to buy gold and silver because of the bitcoin situation. They said to do the mining took so much computer power and electricity that the whole thing would eventually be based in China where electric is cheaper. Can't imagined things going bad if China was watching the chicken house, lol.
Edit--- Also said it would be out of the individuals or even banks reach to get into but would only be for countries and nations. All above my head!
Last edited by Foxpaw; 11/20/20 08:58 PM.
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7057045
11/20/20 08:55 PM
11/20/20 08:55 PM
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Steven 49er
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Which is nearly 5x the low point this spring. Things not looking good . Have to check gold now. Gold and silver have been flat to trending down.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7057253
11/20/20 11:13 PM
11/20/20 11:13 PM
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Gold and Silver have always been a valuable commodity since the beginning of time and will remain so. Gold can't be destroyed, even if dissolved. It can be re-solidified. Both these metals are used in so many forms of technology that they're virtually indispensable. If you take an ounce of gold valued at $1880.60 and match it against U.S. Dollar bills of the same value, and set them both on fire, which one is left of the two? Think about it.
"Humans are the hardest people to get along with." Dr. Phillip Snow
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Re: Bitcoin nearing 19k
[Re: danvee]
#7057301
11/20/20 11:47 PM
11/20/20 11:47 PM
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Steven 49er
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Still don't make sense and scary you don't know who is in control and Just makes me wonder so you buy the bitcoin with what cash right? not gold or silver or a cow or fur. So if a bitcoin is so great why does someone want your American dollar, Mexican peso or Canadian looney for an encrypted number?? You don't necessarily buy bitcoin, you trade something of value for it. If you have a cow you want to sell you could price it in bitcoin. Why does someone have to "control" money. Who " controls" the American dollar?
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Bitcoin nearing 19k
[Re: Steven 49er]
#7057345
11/21/20 12:33 AM
11/21/20 12:33 AM
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Still don't make sense and scary you don't know who is in control and Just makes me wonder so you buy the bitcoin with what cash right? not gold or silver or a cow or fur. So if a bitcoin is so great why does someone want your American dollar, Mexican peso or Canadian looney for an encrypted number?? You don't necessarily buy bitcoin, you trade something of value for it. If you have a cow you want to sell you could price it in bitcoin. Why does someone have to "control" money. Who " controls" the American dollar? Wealth IS POWER The U.S. Govt prints money according to supply, demand, and necessity . . . The World "evaluates" it's true value.
"Humans are the hardest people to get along with." Dr. Phillip Snow
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Re: Bitcoin nearing 19k
[Re: SJA]
#7057379
11/21/20 01:43 AM
11/21/20 01:43 AM
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Gold and Silver have always been a valuable commodity since the beginning of time and will remain so. Gold can't be destroyed, even if dissolved. It can be re-solidified. Both these metals are used in so many forms of technology that they're virtually indispensable. If you take an ounce of gold valued at $1880.60 and match it against U.S. Dollar bills of the same value, and set them both on fire, which one is left of the two? Think about it. I agree that metals definitely have value, and I dont think anyone is wrong to own them. They're a safe hedge against inflation. They just dont have as much portability as digital currency. But much less volatility though.
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Re: Bitcoin nearing 19k
[Re: danvee]
#7057407
11/21/20 04:16 AM
11/21/20 04:16 AM
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So if I sell one of my cows for a bitcoin or part of one how does the buyer get the cow and me the bit coin. Im guessing everyone in the deal has to recognize and except the bitcoin?? Yes, obviously everyone in the deal has to accept it. If you sell a cow for bitcoin, then you can use the bitcoin to buy from someone who accepts bitcoin. Just like if you sold a cow for gold or pesos, you would then have to find someone to accept gold or pesos in order to spend it. It's another form of money. If you think the government "controls " the dollar, and that's a good thing, you must be unfamiliar with the Federal Reserve.
Boco couldn't catch a cold. But if he did, it would be Top Lot.
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Re: Bitcoin nearing 19k
[Re: danvee]
#7057617
11/21/20 10:45 AM
11/21/20 10:45 AM
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No I understand how the Fed Reserve controls our money just don't understand how someone can be comfortable not knowing who controls bitcoin someone is pushing the buttons and storing the information but that is not known to most seems like a risky business. I barter all the time and really enjoy it, never been unhappy with the system but know whom Im dealing with. It's distributed,there isn't one person of group in charge. It's open source.
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7057645
11/21/20 11:32 AM
11/21/20 11:32 AM
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No I understand how the Fed Reserve controls our money just don't understand how someone can be comfortable not knowing who controls bitcoin someone is pushing the buttons and storing the information but that is not known to most seems like a risky business. I barter all the time and really enjoy it, never been unhappy with the system but know whom Im dealing with. It's distributed,there isn't one person of group in charge. It's open source. . . . and that's just one of the problems with "digital currency". ANYONE with a high tech savvy can hack into, modify, manipulate, steal, and control it. Same as the ability to hack into credit cards, bank accounts etc. With "physical money", whether paper, precious metals, gems, or others, one person can have possession of them and they must be physically TAKEN or removed in reality from that person by design or means.
"Humans are the hardest people to get along with." Dr. Phillip Snow
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7057647
11/21/20 11:37 AM
11/21/20 11:37 AM
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It's much harder to hack blockchain.not impossible but requires more resources as there's aot you have to do to be able to get away with anything.
Last edited by SNIPERB🦝; 11/21/20 11:41 AM.
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Re: Bitcoin nearing 19k
[Re: danvee]
#7057653
11/21/20 11:48 AM
11/21/20 11:48 AM
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I trade in beads and Wampum That's an apt description of the Federal Reserve Note we commonly call the Dollar. No I understand how the Fed Reserve controls our money just don't understand how someone can be comfortable not knowing who controls bitcoin someone is pushing the buttons and storing the information but that is not known to most seems like a risky business. I barter all the time and really enjoy it, never been unhappy with the system but know whom Im dealing with. Nobody controls bitcoin. Like Sniper said it's an open source ledger. The system as a whole, as in the miners, users, businesses all work together to keep track of the ledger. There is no central authority, the market decides the value. With today's technology it's impossible to hack the blockchain it will take quantum computing to do that and who's to say the blockchain won't change with it. Don't take my words as advice to purchase some bitcoin or any other digital currency for that matter. Although I own some it's still a novelty to me and I believe there is an even chance what i have will be worthless someday.
Last edited by Steven 49er; 11/21/20 11:51 AM.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7057656
11/21/20 11:50 AM
11/21/20 11:50 AM
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Resources, fortunately or unfortunately are abundant in the tech world . . . it's knowing where to find them, how to use them, and applying them that make the weakest link in any "chain".
Last edited by SJA; 11/21/20 11:51 AM.
"Humans are the hardest people to get along with." Dr. Phillip Snow
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7057723
11/21/20 12:57 PM
11/21/20 12:57 PM
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white17
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Bitcoin Could Hit $500,000, the Founder and CEO of Ark Invest SaysBy Shaina Mishkin Updated Nov. 20, 2020 4:26 pm ET / Original Nov. 20, 2020 4:04 pm ET The price of Bitcoin has been on a tear, rising nearly 160% this year and about 25% month to date. That might be just the beginning, ARK Investment Management CEO Catherine Wood told Barron’s readers Thursday. Bitcoin’s recent rise to $18,640 may give investors flashbacks to 2017, when the cryptocurrency reached a high of $19,783.21 in December before selling off. This time is different for one big reason, Wood said: the involvement of institutional investors, which she said could drive Bitcoin’s price to $500,000. The founder of ARK and a noted booster of disruptive technologies such as Bitcoin and Tesla told attendees of Barron’s virtual Investing in Tech series that Bitcoin is the most recognized currency of the crypto-asset ecosystem. “It’s the equivalent to the dollar in the fiat currency system,” she said. “That’s a pretty exalted role.” Wood added that the rise of central-bank digital currencies, or CBDCs, has added legitimacy to Bitcoin, referencing China’s ambitions to launch a digital yuan. Some investors, she said, see Bitcoin as a digital alternative to gold or an insurance policy against inflation. With the Federal Reserve’s decision to keep interest rates low for the foreseeable future, that’s one reason Bitcoin’s price could be rising. And if institutional investors like hedge funds were to take a greater interest in Bitcoin, it could send prices even higher, Wood said. What’s more, Wood noted the supply of Bitcoin units tops out at 21 million. There are about 18.5 million currently in existence, she said. Wood said institutions have been bumping up their exposure to the cryptocurrency recently, drawing a comparison to “the early days of institutions moving into real estate and emerging markets,” when allocations started small, then grew. “They started out with a half a percent allocation, then [1%], and then 5% or thereabout seemed to be the right number.” If all institutions were to assign a similar mid-single-digit allocation to Bitcoin, the cryptocurrency could rise “to somewhere in the $400,000 to $500,000 range,” Wood said. https://www.barrons.com/articles/bi...erine-wood-51605906264?mod=hp_LEADSUPP_1
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Re: Bitcoin nearing 19k
[Re: danvee]
#7057736
11/21/20 01:13 PM
11/21/20 01:13 PM
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No I understand how the Fed Reserve controls our money just don't understand how someone can be comfortable not knowing who controls bitcoin someone is pushing the buttons and storing the information but that is not known to most seems like a risky business. I barter all the time and really enjoy it, never been unhappy with the system but know whom Im dealing with. I can't believe I'm saying this, but I agree with danvee.
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Re: Bitcoin nearing 19k
[Re: Bob_Iowa]
#7058511
11/22/20 03:21 AM
11/22/20 03:21 AM
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I understand that this is a digital type of currency but were I get confused is without a, “central bank” for lack of a better term, who issues the bitcoins, so who would I send money to to get it converted? Bitcoins are mined. There are exchanges where you can buy and sell bitcoins and other cryptos.
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Re: Bitcoin nearing 19k
[Re: danvee]
#7058654
11/22/20 09:33 AM
11/22/20 09:33 AM
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Steven 49er
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From what I have read on the internet bitcoin was hacked once if it could happen once it could happen again. I guess I would say I would rather own my property and be able to make a living off it. Something real I can touch, hold trade feed me and if I need something I will barter or yep use a green back. You read wrong, the blockchain wasn't hacked.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7058763
11/22/20 11:40 AM
11/22/20 11:40 AM
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Basically you mine bitcoins by setting your computer/phone/or specifically made miners that attempt to solve hashtag puzzles and the reward is a bitcoin token. Nothing real involved ?
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7059616
11/23/20 09:29 AM
11/23/20 09:29 AM
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Steven 49er
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Eventually one of two things will happen, at least in my eye.
Either bitcoin will fall to zero or it will stabilize and no longer be an "investment". It cannot be do volitile and act as a true modem of exchange.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Bitcoin nearing 19k
[Re: Steven 49er]
#7059638
11/23/20 10:03 AM
11/23/20 10:03 AM
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Eventually one of two things will happen, at least in my eye.
Either bitcoin will fall to zero or it will stabilize and no longer be an "investment". It cannot be do volitile and act as a true modem of exchange. I would like to agree with you but that requires a sane world.
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7059758
11/23/20 12:43 PM
11/23/20 12:43 PM
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Steven 49er
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My opinion is the run up in 17 was because of FOMO.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7060190
11/23/20 08:27 PM
11/23/20 08:27 PM
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Steven 49er
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XRP has also been on a monster run the last few days.
I vacated my position in it this summer. Story of my life lol.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7060207
11/23/20 08:31 PM
11/23/20 08:31 PM
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Trade will be booming soon with Kerry being the special trade envoy to China. I wonder if he will go over there with a big suitcase full of bitcoins?
Last edited by Boco; 11/23/20 08:31 PM.
Forget that fear of gravity-get a little savagery in your life.
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Re: Bitcoin nearing 19k
[Re: SNIPERBBB]
#7068718
11/30/20 07:22 PM
11/30/20 07:22 PM
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Steven 49er
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Old news Ken. Well 3 weeks old lol.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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