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Bitcoin hits $10,000

bloomberg.com

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Re: Bitcoin hits $10,000

#41

Post by deorder »

Be careful. There is evidence that certain parties are issuing fake dollars called USDT / Tether from which they buy cryptocoins (incl. BTC) to artificially increase the price:

https://mobile.twitter.com/bitfinexed (One of the people monitoring the situation)

https://np.reddit.com/r/btc/comments/7g5yml/my_investigation... (Some more info)

Make sure you are able to get out on time if needed. Investigate and decide for yourself. There is a lot of censoring and vote manipulation going on. I am not going to point fingers, but just that you are aware.

Re: Bitcoin hits $10,000

#42

Post by Shank »

sillysaurus3 wrote: post #30

The most remarkable aspect of bitcoin is that if Satoshi is a single person, it's the first time in history someone has become a billionaire by themselves. It's not quite that clear cut, but it's not too far off.

The only problem is that Satoshi's coins are watched like a hawk. Satoshi can't liquidate any of them, or even really move them without causing an immediate reaction in the community. Exchanges might halt trading, whilst it would immediately give away his or her identity. If the price of bitcoin doesn't crash following a coin movement, Satoshi's life is most certainly at risk. If it does, then the coins are worth nothing.

Re: Bitcoin hits $10,000

#43

Post by chii »

narrator wrote: post #4

7 years ago: The first bitcoin article on HN with comments! https://news.ycombinator.com/item?id=1532670 One of the posters says the feds will shut it down. I also thought this too. This remains one of the most enduring mysteries of Bitcoin to me. Why has the government taken such a hands off approach?

Because there's no reason for a democratic govt to shut it down. The only reason they would is to prevent capital flight (not to mention it's very hard to shut down in any case)

Re: Bitcoin hits $10,000

#44

Post by School-Cotton »

narrator wrote: post #4

7 years ago: The first bitcoin article on HN with comments! https://news.ycombinator.com/item?id=1532670 One of the posters says the feds will shut it down. I also thought this too. This remains one of the most enduring mysteries of Bitcoin to me. Why has the government taken such a hands off approach?

"The feds" can't just shut down whatever they want; there is a process.

Re: Bitcoin hits $10,000

#45

Post by Jach »

pishpash wrote: post #21
wintom wrote: post #17

“Rosenstreich at online trading firm Swissquote said bitcoin’s surge harks to the surprises of the U.K. referendum on European Union membership and President Trump’s election. “We have underestimated the populist movements,” he said. “There is growing unease on how central banks and governments are managing fiat currencies. Ordinary people globally understand why a decentralized asset is the ultimate safe haven.”” Th…

Gold is used in electronics. It's actually a good conductor. Bitcoin is not even good for transactions, its supposed primary purpose, right now.

If bitcoin wasn't good for transactions, then each block wouldn't be full of them. Maybe it's not so great for processing a country's volume of transactions because it hasn't scaled. Maybe it's not so great for small-fry transactions but those happen too... Online merchants often give you 24 hours to get your first verification. Your fees can be very low if you don't need your confirmation in the next ~10 minutes. (It will appear unconfirmed in the pool almost immediately.)

Re: Bitcoin hits $10,000

#46

Post by acchow »

wintom wrote: post #17

“Rosenstreich at online trading firm Swissquote said bitcoin’s surge harks to the surprises of the U.K. referendum on European Union membership and President Trump’s election. “We have underestimated the populist movements,” he said. “There is growing unease on how central banks and governments are managing fiat currencies. Ordinary people globally understand why a decentralized asset is the ultimate safe haven.”” Th…

"Ordinary people globally understand why a decentralized asset is the ultimate safe haven."

Ordinary people have never heard of bitcoin. I have relatives working in finance who don't understand bitcoin.

Re: Bitcoin hits $10,000

#47

Post by kimjongman »

wintom wrote: post #17

“Rosenstreich at online trading firm Swissquote said bitcoin’s surge harks to the surprises of the U.K. referendum on European Union membership and President Trump’s election. “We have underestimated the populist movements,” he said. “There is growing unease on how central banks and governments are managing fiat currencies. Ordinary people globally understand why a decentralized asset is the ultimate safe haven.”” Th…

to the moon

Re: Bitcoin hits $10,000

#49

Post by mmgutz »

pishpash wrote: post #21
wintom wrote: post #17

“Rosenstreich at online trading firm Swissquote said bitcoin’s surge harks to the surprises of the U.K. referendum on European Union membership and President Trump’s election. “We have underestimated the populist movements,” he said. “There is growing unease on how central banks and governments are managing fiat currencies. Ordinary people globally understand why a decentralized asset is the ultimate safe haven.”” Th…

Gold is used in electronics. It's actually a good conductor. Bitcoin is not even good for transactions, its supposed primary purpose, right now.

That's the part that gets me. Bitcoin has scaling issues, is slow and transaction fees are outrageous. Still, I have no doubt some form of crypto-currency will eventually win out.

Re: Bitcoin hits $10,000

#50

Post by wallace_f »

Shank wrote: post #42
sillysaurus3 wrote: post #30

The most remarkable aspect of bitcoin is that if Satoshi is a single person, it's the first time in history someone has become a billionaire by themselves. It's not quite that clear cut, but it's not too far off.

The only problem is that Satoshi's coins are watched like a hawk. Satoshi can't liquidate any of them, or even really move them without causing an immediate reaction in the community. Exchanges might halt trading, whilst it would immediately give away his or her identity. If the price of bitcoin doesn't crash following a coin movement, Satoshi's life is most certainly at risk. If it does, then the coins are worth not…

Why would Satoshi's life be at risk?
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