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Bitcoin value surges past $30k

bbc.co.uk

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Re: Bitcoin value surges past $30k

#11

Post by theklub »

dralley wrote: post #6

Is there any conceivable good reason for the value to have tripled in 3 months, or is this a cycle of FOMO hysteria just like last time?

FOMO and the US giving cash out like crazy. Paypal also has a bitcoin option so that probably opened it to more users too.

Re: Bitcoin value surges past $30k

#13

Post by smusamashah »

I took out the money on loss which was stuck in from last 3 years. Better have something than nothing. Idea of trading is only worth doing if done as a full time job.

As a currency, I don't want to use a currency which goes up and down like all these.

Re: Bitcoin value surges past $30k

#14

Post by yawnr »

emerged wrote: post #3

I don’t care if it’s a guarantee to be 100k tomorrow, I refuse to profit off crypto speculation. It may seem crazy to people but I like to earn money with effort.

So you don’t have any investments? What a weird hill to die on

Re: Bitcoin value surges past $30k

#15

Post by api »

dralley wrote: post #6

Is there any conceivable good reason for the value to have tripled in 3 months, or is this a cycle of FOMO hysteria just like last time?

Historically low interest rates, QE, huge deficits. Same reason the stock market and real estate are going up as the economy tanks from a pandemic. Finance is completely decoupled from reality at this point. It’s like a big MMO.

Re: Bitcoin value surges past $30k

#16

Post by sunshinerag »

pjkundert wrote: post #4

I wonder what will happen the next time we have a prolonged global network outage (ie. days, weeks). The next time we have a major kinetic conflict, for example... Since Bitcoin will "fork" in each network partition, and everything will work ... fine, within each partition -- right up until the moment the network is repaired, and all but one of the "forks" simply disappears. I think most people will be surprised that…

or the forks continue divided and a exchange value begins to form between them ... if one side of the partition has been less productive then the value eventually transfers to the other fork and the mining gradually slows down and continues or stops at sometime.

By the way how well do you think the other monetary systems will fair under such conditions you describe?

Re: Bitcoin value surges past $30k

#18

Post by xiphias2 »

pjkundert wrote: post #4

I wonder what will happen the next time we have a prolonged global network outage (ie. days, weeks). The next time we have a major kinetic conflict, for example... Since Bitcoin will "fork" in each network partition, and everything will work ... fine, within each partition -- right up until the moment the network is repaired, and all but one of the "forks" simply disappears. I think most people will be surprised that…

Last time it happened in Egypt, the government was overthrown and the leader had to resign.

With Bitcoin, you have to shoot all the Bitcoin satellites _and_ stop the internet to do what you propose.

Re: Bitcoin value surges past $30k

#19

Post by sunshinerag »

granaldo wrote: post #10

As it stands right now bitcoin market cap https://www.coingecko.com/en is at $600 billion, not near the top most valuable public companies yet and not sure what coinbase will be priced at

the better question is in what currency will coinbase (or) similar successors be priced in?
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