[2017-05-02]Bitcoin’s Price Moon Bound Breaking $1400 and Climbing

Kemarit

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Quote from: LLec on May 03, 2017, 03:34:39 AM

Every exchange rate is off and bitfinex is showing over $120 from everybody elses.
What the hell is going on? It has been like that for a week now. Should it have been found out and dealt with already?
It should be in line or close to the other exchange prices.

Bitfinex price is over $100 above other exchangers. Their issue has not yet resolved. Traders are simple converting fiat to bitcoin pushing its price in Bitfinex way above and temporarily pumping the price. So don't trust the price of bitcoin in their. Its does not show the accurate picture of the bitcoin price. Personally, I used Kraken to look for the current price of bitcoin.

We can only speculate on how the price can go - $2000, $5000 and even $10000 is all possible now. The only question is when will it touch those prices so better save bitcoin and hold on for long term because we all that bitcoin is really starting to be a safe haven for a lot of big and casual investors globally. You don't want to be left out.

1Referee

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Quote from: transabox on May 03, 2017, 02:20:39 AM

This is not known only to those people who never use bitcoin. They generally believe in all sorts of stupidity about the cryptocurrency.

Then you're not aware of how low the average IQ here on this forum is. Even legendary members of this forum have opted for Bitcoin to increase its coin cap as 21M coins isn't enough for mass usagage, according to them. There is no need for people to know everything from the deeper technical side, but at least know the basics - that's not too much to ask for, right? Main reason for that is probably that they only care about the price, where they completely ignore every aspect of Bitcoin as technology.

LLec

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Every exchange rate is off and bitfinex is showing over $120 from everybody elses.
What the hell is going on? It has been like that for a week now. Should it have been found out and dealt with already?
It should be in line or close to the other exchange prices.

transabox

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Quote from: 1Referee on May 02, 2017, 05:28:08 PM

Quote from: richardsNY on May 02, 2017, 03:54:00 PM

Coin cap in various units.
2,100,000,000,000,000 satoshis.
21,000,000,000,000 Bits.
21,000,000,000 mBTC.
21,000,000 BTC.

Not everyone is aware of Bitcoin's divisibility. They know that they can send like 0.1BTC, but they purely look at it as being one tenth of a coin. I quite often see people state that Bitcoin's fixed 21M coin cap will be a problem when a larger portion of the world will start using Bitcoin on a massive scale. They completely ignore (due to the lack of knowledge) that Bitcoin is easily divisible in plenty of smaller chunks/units. It's a basic thing that everyone should know, but obviously, that's not the case.

This is not known only to those people who never use bitcoin. They generally believe in all sorts of stupidity about the cryptocurrency.
But let's hope that soon the popularity of bitcoin will grow significantly

1Referee

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Quote from: richardsNY on May 02, 2017, 03:54:00 PM

Coin cap in various units.
2,100,000,000,000,000 satoshis.
21,000,000,000,000 Bits.
21,000,000,000 mBTC.
21,000,000 BTC.

Not everyone is aware of Bitcoin's divisibility. They know that they can send like 0.1BTC, but they purely look at it as being one tenth of a coin. I quite often see people state that Bitcoin's fixed 21M coin cap will be a problem when a larger portion of the world will start using Bitcoin on a massive scale. They completely ignore (due to the lack of knowledge) that Bitcoin is easily divisible in plenty of smaller chunks/units. It's a basic thing that everyone should know, but obviously, that's not the case.

richardsNY

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Quote from: lilit on May 02, 2017, 01:00:26 PM

I can not understand where such forecasts come from with such huge sums. Really really Bitcoin after some years will cost an order of hundred thousand dollars.

Well, the user I quoted just focuses on the 21 million coin cap, and considers Bitcoin to be scarse as result of that. I don't look at the coin cap and see 21 million coins. I see 21 million coins that each represent 100,000,000 satoshis. In reality -- the coin cap of Bitcoin is just under 2,100,000,000,000,000 satoshis/units.

Coin cap in various units.
2,100,000,000,000,000 satoshis.
21,000,000,000,000 Bits.
21,000,000,000 mBTC.
21,000,000 BTC.

See the differences? BTC, mBTC, Bits are nothing more than unit nominations on GUI level. Satoshis are the real deal.

DooMAD

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Leave no FUD unchallenged

It's difficult to gauge how much of the current uptrend is caused by exchanges having difficulties. Bitfinex and BTC-e are both being reported as having fiat banking issues. Some exchanges may not be giving an accurate USD price due to the issues with Tether (USDT) falling to track and falling below the value of $1, which is kind of the opposite of the whole point of it.

Quote

100% Backed

Every tether is always backed 1-to-1, by traditional currency held in our reserves. So 1 USD₮ is always equivalent to 1 USD.

Tether (USDT). $0.934447

Whoops.

lilit

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Quote from: richardsNY on May 02, 2017, 10:59:22 AM

Quote from: zhangswujip on May 02, 2017, 09:22:20 AM

By 2140, there will only be 21 million bitcoins, and no more, making it far more rare than gold. I think $1,500 is toward the bottom end of the scale. Particularly with the world's failing fiat currencies, and the coming hyperinflation, bitcoin should easily exceed $100,000 within a decade, and more. This is assuming, of course, that our fragile electronics survive solar flares, EMT phenomena, attacks, etc. Electronics are bitcoin's Achilles heel

It depends on how you look at Bitcoin's rarity aspect. 1 BTC = 100,000,000 satoshis. By the time the price goes up, services, exchanges, merchants, etc, will most likely completely start using the mBTC or Bits unit. If you completely switch to mBTC, and especially Bits, then Bitcoin's rarity aspect isn't that much of a strong argument anymore. Only thing left to say is that the supply of coins is fixed at a certain number of satoshis, mBTC, Bits, etc.

I can not understand where such forecasts come from with such huge sums. Really really Bitcoin after some years will cost an order of hundred thousand dollars.

richardsNY

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Quote from: zhangswujip on May 02, 2017, 09:22:20 AM

By 2140, there will only be 21 million bitcoins, and no more, making it far more rare than gold. I think $1,500 is toward the bottom end of the scale. Particularly with the world's failing fiat currencies, and the coming hyperinflation, bitcoin should easily exceed $100,000 within a decade, and more. This is assuming, of course, that our fragile electronics survive solar flares, EMT phenomena, attacks, etc. Electronics are bitcoin's Achilles heel

It depends on how you look at Bitcoin's rarity aspect. 1 BTC = 100,000,000 satoshis. By the time the price goes up, services, exchanges, merchants, etc, will most likely completely start using the mBTC or Bits unit. If you completely switch to mBTC, and especially Bits, then Bitcoin's rarity aspect isn't that much of a strong argument anymore. Only thing left to say is that the supply of coins is fixed at a certain number of satoshis, mBTC, Bits, etc.

RomanJDS

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Quote from: zhangswujip on May 02, 2017, 09:22:20 AM

By 2140, there will only be 21 million bitcoins, and no more, making it far more rare than gold. I think $1,500 is toward the bottom end of the scale. Particularly with the world's failing fiat currencies, and the coming hyperinflation, bitcoin should easily exceed $100,000 within a decade, and more. This is assuming, of course, that our fragile electronics survive solar flares, EMT phenomena, attacks, etc. Electronics are bitcoin's Achilles heel

I'll be waiting for 2140 to sell my bitcoins

zhangswujip

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By 2140, there will only be 21 million bitcoins, and no more, making it far more rare than gold. I think $1,500 is toward the bottom end of the scale. Particularly with the world's failing fiat currencies, and the coming hyperinflation, bitcoin should easily exceed $100,000 within a decade, and more. This is assuming, of course, that our fragile electronics survive solar flares, EMT phenomena, attacks, etc. Electronics are bitcoin's Achilles heel

Sunmerdy

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The price of bitcoin has escalated once again to higher levels, surpassing the $1400 range on a few exchanges. As bitcoin’s successful run continues, many are starting to wonder — How high will the price go?
Bitcoin Outperforms Traditional Assets as the Price Continues to Climb to New Heights

Bitcoin’s value is rising to levels unseen before as the decentralized currency now captures a $23 billion market capitalization. The first quarter of 2017 has been good for bitcoin as the price has remained above 4-digits consistently for most of the year. Furthermore, the price per bitcoin has outperformed every fiat currency in existence and surpassed the spot price of one troy ounce of gold as well. People are beginning to realize bitcoin is a safe haven for failing economies, an escape from capital controls, and a digital asset like no other.
read more:https://news.bitcoin.com/bitcoins-price-moon-bound-1400-climbing/

Topic: [2017-05-02]Bitcoin’s Price Moon Bound Breaking $1400 and Climbing (Read 4711 times)