Bitcoin Tops 5000 USD

Not long ago the cryptocurrency Bitcoin topped the $5000 barrier. As of this writing it is at $5100 topping it's old record set back in September.

There has never been a better time to get into cryptocurrency. Many upstarts (ICO's) as well as cheaper offerings could really pad your portfolio.

Make no mistake, crypto is here to stay.

coinmarketcap.com...

a reply to: JinMI

but nooooo. there is no value behind it. It's not backed by anything. It's a scam! It has died 100 times! /sarcasm.

this is the decentralized banking system we have all been waiting for. This is the tip of the redistribution of wealth. Whether Bitcoin remains king or not, crypto currencies will be the future. It's like sending a photo in USPS vs instagram.

It takes armed forces to transport gold. It takes nothing to transport cryptos.

originally posted by: booyakasha
a reply to: JinMI

but nooooo. there is no value behind it. It's not backed by anything. It's a scam! It has died 100 times! /sarcasm.

this is the decentralized banking system we have all been waiting for. This is the tip of the redistribution of wealth. Whether Bitcoin remains king or not, crypto currencies will be the future. It's like sending a photo in USPS vs instagram.

It takes armed forces to transport gold. It takes nothing to transport cryptos.

How is this stuff of any value and how does one spend it on something. Can you go into Guitar Center and buy a Chinese made guitar with this type of currency or is it not currency at all?

a reply to: musicismagic
Where: www.coindesk.com...

As to how it holds and grows in value, lookup blockchain technology.

I'll continue to stack silver/gold.

Good luck however!

originally posted by: JinMI
a reply to: musicismagic
Where: www.coindesk.com...

As to how it holds and grows in value, lookup blockchain technology.

Thanks, I'll do that.

a reply to: musicismagic

Right now it's like the internet before AOL. You can spend it in certain places but as of now it's mostly spent online and used a a secure place to store wealth. as far as i know.

When the bailouts happened it basically made everyone realize that our dollar is completely imaginary. As hyper inflation happens to the US dollar currencies that are safe storage like gold and silver rise in value.

At the same time there are a limited number of bitcoins so it's like buying up digital landspace in a digital world. Supply of bitcoin falls while demand for bitcoin should rise as long as the technology is there to support it.

As the world becomes more digitalized more technologies will come out making bitcoin easier to use and eventually a necessity.

This guy explains it better than anyone I've heard explain it.

www.youtube.com...

a reply to: booyakasha

Nice work. Great explanation.

I find it really odd how the value is spiking after the Chinese shut down the trading centers, and the Russians are talking about shutting it down too.

Does the Chinese/Russian decision to ban trading in it not impact the value at all?

What if every other major country goes the way of China and bans bitcoin exchanges?

What if governments then issue their own versions of block chain currency? It won’t be decentralized banking anymore and business as usual.

originally posted by: Painterz
I find it really odd how the value is spiking after the Chinese shut down the trading centers, and the Russians are talking about shutting it down too.

Does the Chinese/Russian decision to ban trading in it not impact the value at all?

I wonder if the American pooliti#ans have invested in it or there friends, you guys know what I mean.

a reply to: nOraKat

that would be crazy. Good thing were not all communists. Probably would have happened if HIldog made it in to office.

I think most countries see this as an opportunity to give big ole middle finger to the central banking system as well.

originally posted by: booyakasha
a reply to: nOraKat

that would be crazy. Good thing were not all communists. Probably would have happened if HIldog made it in to office.

I think most countries see this as an opportunity to give big ole middle finger to the central banking system as well.

How was bitcoin sold, in dollars?

I am far from competent in economics, but are you not supposed to get into it when its low and sell high?

Wasnt that long ago Bitcoin was 1000 per unit, seems this rapid increase revolves around the perception that it is more secure and safe from economic troubles, while one glitch in the system could send the price tumbling since it is so new and largely surrounded by unknown quantities.

The problem with Bitcoin is the banksters of the world control all the world's military.

Pretty high price for something that represents 1's and 0's. You'd be better off investing that 5k into land or use it towards your mortgage.

What happens when something happens, then you can't access it? Plus most mainstream businesses don't even accept bitcoin.

I'll just stick with investing my money in a money market account, some land, or expanding my business.

I'd not invest just yet, lol, this is artificial, just like the stock market, we are on borrowed dimes here, the price is being manipulated to get all the arbitrage they can before the next Gold Fork in Nov.

WATCH, the price will sink like a rock, when the fork date either approaches or arrives, watch as those funds are sunk into Ltc, Ether and USD / YEN

These forks, regardless of being voted on, are concerning, as it's market suicide to take a brand and branch off, it's like Walmart or Amazon doing awesome and saying, well, we want to have Amazon and Umazon, unless Umazon is giving away free unicorns I don't see why you'd just go for the new thing that has no backing.

That's just the cusp, the community in general seems more like a FED occurrence than a decentralized outcome.

Good for now but it's going to crash one day and become nothing. I imagine that day not too far from now.

IF and that's a HUGE IF, crypto sticks around, I see BC getting knocked out of it's perch for alternative, more progressive type crypto.

Still, It's much too inflated to invest into and I honestly don't see it sticking around. It HAS to be and WILL be regulated at some point and when that happens.... it'll be just like any other currency controlled by banks and the fed.

There will be irony!

it's gaining traction.....Jamaica......went Veritaseum......official national stock exchange due to blockchain being truth for all to see.....truth platform

Silver here for my idea

a reply to: booyakasha

When you say 'most countries' I assume you are talking about the citizens, because the governments do not want to see the banking systems change. At a recent finance/banking forum, many European leaders were talking about how Bitcoin can be used by criminals and terrorists. I already see it coming.