Bitcoin

NorthStar · Oct 27, 2017

We, some of us, have read about the origin of bitcoin before, its inventor and the mystery of his identity surrounding the underworld from the unknown ...

° https://www.cnbc.com/2017/10/27/bit...shrouded-in-mystery-heres-why-it-matters.html

NorthStar · Oct 27, 2017

More than 120 Hedge Funds Focused Solely on Bitcoin:

• https://www.cnbc.com/2017/10/27/the...20-hedge-funds-focused-solely-on-bitcoin.html

NorthStar · Oct 29, 2017

Another record high:

• https://www.coindesk.com/6300-bitcoin-price-sets-another-new-time-high/

NorthStar · Oct 31, 2017

...And another: https://www.cryptocoinsnews.com/bit...me-group-announces-bitcoin-futures-contracts/
___

Bit more: https://lifehacker.com/only-buy-bitcoin-if-youre-ready-to-lose-it-1820006087

NorthStar · Nov 1, 2017

Here's something fresh and interesting news ...

• http://www.zerohedge.com/news/2017-...mains-rumors-swirl-it-may-soon-accept-bitcoin

Amazon, this is quite big. That would propell Bitcoin to the skies.
The more people join the higher it gets. It's like high demand for a drug that has no definite side effects.
The potency is eclipsing all other defective and overvalued drugs. It's a way of speech of course.

NorthStar · Nov 2, 2017

Wow, over $7,000 now.

• https://arstechnica.com/tech-policy...-past-7000-double-its-value-in-mid-september/

That's a nice jump towards the high rolling skies; no doubt that yesterday's news about Amazon played a role. Bitcoin is up, keep getting higher and higher, and Tesla is down 6% now, with Elon Musk getting frustrated @ the journalists, calling it SHAME.
A rich tech man with futuristic ideas that are good for the environment and for investors, but patience has its limit and money borrowed from the investors follows suit right behind patience. I guess, or I don't know much about the borrowing power and the promises of deliveries.
Team work, or it won't work. @ least with Bitcoin the team behind is incognito. Then there is no one to blame but me.

Other car manufacturers are catching up fast, with EV. Tesla and the timing are ticking tic tac ...

NorthStar · Nov 3, 2017

Hey!

• https://www.forbes.com/sites/panosm...prices-still-firmly-above-7000-without-china/

NorthStar · Nov 17, 2017

Zip it (click) ? Bitcoin bursts through $8,000

_____

• https://futurism.com/bitcoin-passes-8000/

"Veteran trader masterluc said in August that he expects it to hit almost double that — $15,000 —before the end of the year, and FundStrat Global Advisor co-founder Tom Lee believes it could surge to $25,000 over the next five years."

Ron Resnick · Nov 17, 2017

Are you buying any, Bob?

NorthStar · Nov 17, 2017

No. You, Ron?

Ron Resnick · Nov 17, 2017

Yes, I have been buying a little bit of three of the "coins" (Bitcoin, Ethereum, Litecoin). I noticed there has often been a dip in prices over the weekend, and when "forks" are imminent.

I started buying a bit after Jamie Dimon called Bitcoin a "fraud" and said people who are buying it are "stupid," and then shortly therafter JPMorganChase launched a blockchain-based system with two other banks to reduce global payment transaction speeds "from weeks to hours," and then the CME announced the commencement of futures trading on Bitcoin next month.

I do not understand anything about Bitcoin (starting with, most fundamentally, why the supply is considered to be largely limited) and other "crypto-currencies" but they appear to be growing into an alternative asset class.

Folsom · Nov 17, 2017

They are limited because they have to be mined by machines like this, and everytime was on is mined the next one is more difficult to mine. Also is there is a undetermined cap at 21 million, which may or may not be reached and even more complicated can be changed if everyone around the world agrees to change it.

Ron, perhaps you should read this into article.

My guess? Anyone will be sorry for not owning Bitcoin. And that isn't just because it appreciates better than nearly anything, with consistency.

Ron Resnick · Nov 17, 2017

Thank you, but I just don't find it terribly persuasive. Any cap that people agree on, people can agree to change.

Folsom · Nov 17, 2017

Ron Resnick said:
Thank you, but I just don't find it terribly persuasive. Any cap that people agree on, people can agree to change.

True, but you have to remember there are serious incentives not to cap it as well. The change requires a majority of people that run the actual network (all private at this point) to come to agreement. There is no definite reason that they would do that. If the difficulty is high enough and the value is high enough, they could potentially make less by choosing to exceed the cap.

And still, I highly recommend getting some if you don't. There are reasons I can't even cover yet. I am not saying that because it could be capped, I'm saying that because the value may be monumental.

NorthStar · Nov 17, 2017

A good time to buy bitcoin is when the bubble explodes.
Bloomberg is not getting on the train.
True, there is a cap @ 21 million, but who knows why that number.
Bitcoin rose 17% in just one week, this week!

• Bloomberg -> https://www.bloomberg.com/news/arti...allocations-due-to-threat-of-crypto-crackdown

Folsom · Nov 17, 2017

Good luck with that bubble explosion... LOL

Folsom · Nov 17, 2017

NorthStar said:
A good time to buy bitcoin is when the bubble explodes.
Bloomberg is not getting on the train.
True, there is a cap @ 21 million, but who knows why that number.
Bitcoin rose 17% in just one week, this week!

• Bloomberg -> https://www.bloomberg.com/news/arti...allocations-due-to-threat-of-crypto-crackdown

The number is built into the original code. It can be changed but only if everyone around the globe agrees to have a clear majority. Again, we don't know if they will want to. Also, we don't know how long it'll take to get there.

Currently the majority of coins may be mined by 2032, and about 20.67 million will be reached by 2140. To get to just about 21 million may take another 100 years on top of that. Now, technology may change before then but we don't know... we have a bit of a wall.

NorthStar · Nov 18, 2017

It's not a question of luck (bubbles implosion), it's when.
===

Fun: https://finance.yahoo.com/news/meet-people-getting-rich-bitcoin-181650451.html

NorthStar · Nov 18, 2017

Folsom said:
The number is built into the original code. It can be changed but only if everyone around the globe agrees to have a clear majority. Again, we don't know if they will want to. Also, we don't know how long it'll take to get there.

Currently the majority of coins may be mined by 2032, and about 20.67 million will be reached by 2140. To get to just about 21 million may take another 100 years on top of that. Now, technology may change before then but we don't know... we have a bit of a wall.

We don't know much, that's the point. What we do know is that people love money, high returns, privacy, security, independence, liberty, wealth, health, and heaven (a world free of burning hell and taxes).

Folsom · Nov 18, 2017

There is no reason to expect it to "pop" anytime soon. If investors inflate it wickedly then maybe. But I do mean like $100,000 or something. Fact is the supply is very limited whether it's capped or not, because it is mined.

Even if you lost on buying Bitcoin, the potential is too big not to put anything in. There are big reasons to be interested. My only regret is not buying more, especially early on. Because I would have cashed out by now? No, I'd be hodling most of it.

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