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Thread: Bitcoin surpassed US$4000 in value this weekend

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    Bitcoin surpassed US$4000 in value this weekend

    And it is trading at US$4200 (GBP£3235) at the time of writing.
    Read more.

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    Re: Bitcoin surpassed US$4000 in value this weekend

    Two words come to mind, "bubble" and "burst". Invest now at your peril, sooner or later the bubble will burst.

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    HEXUS.social member Disturbedguy's Avatar
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    Re: Bitcoin surpassed US$4000 in value this weekend

    Quote Originally Posted by Friesiansam View Post
    Two words come to mind, "bubble" and "burst". Invest now at your peril, sooner or later the bubble will burst.
    The bitcoin "bubble" started in 2009 - 8 years ago, if the "bubble" were going to burst, I imagine it would have happened already..
    Quote Originally Posted by TAKTAK View Post
    It didn't fall off, it merely became insufficient at it's purpose and got a bit droopy...

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    <Insert witty one liner> Kanoe's Avatar
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    Re: Bitcoin surpassed US$4000 in value this weekend

    Like most investments they will have periods of down and up. It's always the game to work out which is the likely trend coming and invest accordingly.

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    Re: Bitcoin surpassed US$4000 in value this weekend

    this means AMD is going to get more profits

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    Re: Bitcoin surpassed US$4000 in value this weekend

    What's the point in Bitcoin any more? Haven't they closed down all the Guns & Ganja eStores on the Deep Web and Dark Web ?

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    chj
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    Re: Bitcoin surpassed US$4000 in value this weekend

    Man I regret not keeping my wallet. Thought it was a novelty when it first started

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    Re: Bitcoin surpassed US$4000 in value this weekend

    Quote Originally Posted by Disturbedguy View Post
    Quote Originally Posted by Friesiansam View Post
    Two words come to mind, "bubble" and "burst". Invest now at your peril, sooner or later the bubble will burst.
    The bitcoin "bubble" started in 2009 - 8 years ago, if the "bubble" were going to burst, I imagine it would have happened already..
    As I write now, the value is up to $4275.91 having been less than $1000 as recently as March, that looks like quite a bubble waiting to burst. Nothing is certain but, as in the stock markets, value could be hammered by a burst of profit taking, especially if big holders of BT decide there is a significant risk involved in continuing to hang to hang on to them. Also, if there are any serious problems, perhaps with one or more of the exchanges, there is, unlike with "real" currencies, no bank, government, or central bank back-up or protection. I know many think the independence is a good thing, until something goes wrong...

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    Re: Bitcoin surpassed US$4000 in value this weekend

    I actually don't understand why people buy AMD cards to mine with - I did some research and found that the RX580 for example only has a hashrate of 30H/s, that's tiny compared to the current difficulty!

    Even my old ASIC miner that mines at 5GH/s is nothing now (and hasn't been for a while - I turned it off long back). Are AMD cards simply used to mine other cryptocurrencies?

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    Re: Bitcoin surpassed US$4000 in value this weekend

    Ugh, I hate Bitcoin. I wish it never existed, since it has ruined the graphics card market by inflating prices to ridiculous levels, making it bad for people who buy them for their intended purpose i.e. games.

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    Re: Bitcoin surpassed US$4000 in value this weekend

    Quote Originally Posted by Ttaskmaster View Post
    What's the point in Bitcoin any more? Haven't they closed down all the Guns & Ganja eStores on the Deep Web and Dark Web ?
    Money laundering, to move capital out of China without being subject to state limits on selling currency.

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    Re: Bitcoin surpassed US$4000 in value this weekend

    Quote Originally Posted by chj View Post
    Man I regret not keeping my wallet. Thought it was a novelty when it first started
    Ditto, I rubbished the idea and never spent a single gpu/cpu cycle on it. More fool me

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    Re: Bitcoin surpassed US$4000 in value this weekend

    Get on the stock market then

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    Re: Bitcoin surpassed US$4000 in value this weekend

    Quote Originally Posted by Ulti View Post
    I actually don't understand why people buy AMD cards to mine with
    I assume because they were good enough, but cheaper than the Nvidia options?

    Quote Originally Posted by directhex View Post
    Money laundering, to move capital out of China without being subject to state limits on selling currency.
    I thought China was trying to make money, not move it out... selling off the world one 99p eBay sale at a time!

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    Senior Member Macman's Avatar
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    Re: Bitcoin surpassed US$4000 in value this weekend

    Bitcoin is starting to be accepted by some companies, won't be long it becomes acceptable in your local corner shop.

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    Re: Bitcoin surpassed US$4000 in value this weekend

    People have been saying that btc is a bubble since it started. It may well be one now, or become one, but it's beyond the likes of us to be able to say when. A good friend of mine is a trader and lives by the phrase 'the best time to buy was yesterday, the second best time to buy is today'. If it were easier to buy, I'd be lumping it on right now.

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