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Bitcoin Surpasses $4,000, Reaches Another Milestone

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21–30 of 92 posts

Re: Bitcoin Surpasses $4,000, Reaches Another Milestone

#21
post #7

What's Bitcoin use case besides speculation? Buying $10 worth of namecheap domain and pay $5 on fees no thanks!

You could currently pay a fee of about 5 cents and be confirmed likely within 3 blocks. https://bitcoinfees.21.co/

This. I just bought 0.007 btc and sent it to a friend, and it cost less than 10 cents in fees overall.

Re: Bitcoin Surpasses $4,000, Reaches Another Milestone

#22

Is it too late for the average joe Software Engineer to invest in Bitcoin?

In the words of Roger Ver - it's never too late. 5 years from now people will be kicking themselves for not getting into bitcoin when it was at $4000.

Re: Bitcoin Surpasses $4,000, Reaches Another Milestone

#23
post #7

What's Bitcoin use case besides speculation? Buying $10 worth of namecheap domain and pay $5 on fees no thanks!

You could currently pay a fee of about 5 cents and be confirmed likely within 3 blocks. https://bitcoinfees.21.co/

Not sure how you came up with 5 cents but I get $1.36: 4000 dollars/btc * 10^-8 btc/satoshi * 150 satoshi/byte * 226 bytes/transaction = $1.356 per transaction

Re: Bitcoin Surpasses $4,000, Reaches Another Milestone

#24
post #23

Earlier quoted context omitted.

You could currently pay a fee of about 5 cents and be confirmed likely within 3 blocks. https://bitcoinfees.21.co/

Not sure how you came up with 5 cents but I get $1.36: 4000 dollars/btc * 10^-8 btc/satoshi * 150 satoshi/byte * 226 bytes/transaction = $1.356 per transaction

If you wanted to get confirmed in the very next block you could probably use 25 satoshi/byte at this point in time. Personally, if I were sending a non critical/time-sensitive transaction right now I would use about 5 satoshi/byte.

Re: Bitcoin Surpasses $4,000, Reaches Another Milestone

#25
post #16

Is it too late for the average joe Software Engineer to invest in Bitcoin?

There is an interesting discussion between Hal Finney and Satoshi in 2009 about the possible value of bitcoin. This is back when it was just a random software project, and had zero value: http://diswww.mit.edu/bloom-picayune/crypto/142207 As an amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of the currency should…

And why, exactly, total value of currency should equal total amount of wealth? What exactly is the contradiction, arbitrage or other mechanism that sets total value of currency to total amount of wealth?

Re: Bitcoin Surpasses $4,000, Reaches Another Milestone

#26
post #16

Is it too late for the average joe Software Engineer to invest in Bitcoin?

There is an interesting discussion between Hal Finney and Satoshi in 2009 about the possible value of bitcoin. This is back when it was just a random software project, and had zero value: http://diswww.mit.edu/bloom-picayune/crypto/142207 As an amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of the currency should…

[deleted]

Re: Bitcoin Surpasses $4,000, Reaches Another Milestone

#29
post #15
post #12

Earlier quoted context omitted.

a decentralized, unseizable, cross-border, deflationary store of value. it's next-gen gold.

Gold wouldn't have this role if there was not substantial consumer and industrial demand for it.

Bitcoin wouldn't have any value if there wasn't demand for it.

Re: Bitcoin Surpasses $4,000, Reaches Another Milestone

#30

Earlier quoted context omitted.

consider some of the up and coming alt coins instead. you can triple your investment in a week. Very unlikely with bitcoin.

Or, considering that these are almost surely zero-sum pump-and-dump scams, you can also lose your entire investment.

eh I already sold enough to cover my initial investment back years ago, it's smooth sailing for me since then :]
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