Bitcoin past 19k, creeping to 20

Which is nearly 5x the low point this spring. Things not looking good . Have to check gold now.

Going to be more upside to it as well. One report figures 70 percent of buying volume is now going through PayPal. Just wait till the media frenzy once it breaks all time high. Probably be a slight pullback, sideways for a bit and up more once a vaccine is announced and even higher once there is inevitably more stimulus from the government. Pay attention to the paypal effect on BTC, ETH, LTC, BCH. LTC has already shown a lot of upside. Closer they get to confidential transactions the more likely for improvement in price.

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

When one takes delivery on bitcoin, exactly what does he get?

Don't understand it and would worry you don't know who is running things if I'm correct. How is it regulated and who is keeping the system honest.

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.

Biden and Hunter^^^

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!

Gold and silver have been flat to trending down.

Bitcoin=pie in the sky for suckers.

Beans,Bullets and Bandaids is the direction I went.

Like it or not. Digital currency is the wave of the future. Portable wealth that knows no border is how the super rich are going to be able to travel with hundreds of millions stored on microchips. We're becoming an intertwined global community and people will need to have money that can be sent across borders without government control. No government can control the bitcoin blockchain. They would have already done it if they could, same with hackers. Eventually it will be broken, that history has told us with many forms of encryption. But, when it is, the community will change to new encryption and it will again be secure.

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??

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.

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.

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.

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.

I trade in beads and Wampum

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.

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.

That's an apt description of the Federal Reserve Note we commonly call the Dollar.



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.

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".

Bitcoin Could Hit $500,000, the Founder and CEO of Ark Invest Says

By 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

I can't believe I'm saying this, but I agree with danvee.

Anyone seriously considering getting into bitcoin should research the “ Gerald Cotten/QuadrigaCX “ story.

If you buy bitcoin and keep it on an exchange and dont hold your own private key, you dont really own your bitcoin. If all of those people with quadriga would have followed the advice of Bitcoins creator and kept their private key there wouldn't be this mess. The fact of the matter is that if you own the private key, right now it is impossible for someone to steal your bitcoin without physically stealing it from you, whether stored on a phone, USB drive or written down on paper. There are wallets with thousands of bitcoin in them, it's a public ledger. No one can take their bitcoin though because it can not be hacked. If it was possible it would have already been done.

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?

Just like BENNIE BABY'S , now is the time to sale guys. Socialisms is coming. You will not need much money because the GOVERMENT is going to share your money with the have nots very very soon. MD

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.

Bitcoins are mined. There are exchanges where you can buy and sell bitcoins and other cryptos.

You read wrong, the blockchain wasn't hacked.

Who has a simple explanation of mining bitcoin. One that I won't have an image of a pick and shovel in my head, like I was digging for a real commodity? Maybe just one best website that gives the best gist.

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 ?

Just the physical equipment needed

Well I guess they don't have the overhead Vegas has!

Ok that clarifies somethings.

The easiest way to explain bitcoin mining is a computer performing a cryptographic calculation that helps secure the blockchain and record new transactions (payments, transfers, etc) by solving an equation. If you are the miner to solve the next equation you get a block reward. Which right now is 6.25 bitcoin every appx 10 minutes. Your odds of finding that block by yourself with home mining equipment is like winning the powerball though so mining is done in pools. So lots of people get together and pool their resources to all chip in together to try and find the next block and then split up the reward among each other based on what percentage of the work your computer contributed.

I've mined Litecoin for over a year and a half only solved 1 block. Litecoin is an offshoot of BTC and has a significantly lower hash rate.

Since you mention ......"pool their resources to all chip in together", it seems to me that the common item that our futures will revolve around , is the semi-conductor. Mining anything like Bitcoin is going to require a lot of chips and power. So will everything else from storage to cloud to vehicles ( vechiles)

So for my money, the better investment would be in chip design, foundries, and equipment for manufacturing chips.

I understand the motivation is different but I think the reward is more probable with less risk.

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.

AS you know I am no fan of either metals or cryptos. But, things have changed in crypto-ville.

These days hedge funds are buying into bitcoin.......or the idea of bitcoin. They are not necessarily buying bitcoin itself but rather are buying into Grayscale Bitcoin Trust.....(ticker GBTC)

I agree with Steven that as it is now it is far too volatile to serve as a medium of exchange. One of the risks...........and a big one.........is that governments either move to prohibit BTC as a payment method or central banks get into the crypto game also.

But it is becoming clearer that bitcoin could be an alternative to gold. Once some of the larger banks like JP Morgan recognize that they are missing out, they will begin to trade or facilitate trading in BTC. JPM just made about 1.8 billion in facilitating trading and storage of gold. Note they are not buying it to hold, just buying it for others to hold. They could, and probably will do the same with BTC

There was a lot of talks about a lot of these investment firms setting up crypto trading desks back during the 17 run. Which I think drove most of that run.

That IS what is driving it now.

During the last spike in BTC the compliance arms of various trading outfits and hedge funds prohibited most trading in bitcoin. That has now changed

My opinion is the run up in 17 was because of FOMO.

That's just part of the game whenever speculation is involved.

Yes. I do think there is a different attitude towards it now

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.

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?

Past 19k now. Won't be surprised if it hits 23k by new years.

Picking up coat tails now.

Holiday slump is over. surging towards 20k now

https://www.justice.gov/usao-ndca/p...ryptocurrency-valued-over-one-billion-us

Old news Ken. Well 3 weeks old lol.