$652 - my laptop just exploded! | Bitcointalksearch.org

hermanhs09

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Quote from: extrabyte on June 12, 2016, 10:00:29 AM

This is amazing, the price is increased for almost +$80 for only 2 days. I'm really surprised and wondering what will happen in the upcoming weeks, we are very near to the halving. I didn't expected this to happen so far, let's hope the price will go even more higher (~$1k).

I know right. This has surprised me a lot over the past few days just how fast the price increases have come. I have been anticipating a lot of price increases, but never have anticipated this fast.

Completely mindblown.

Ulloa

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You can now see that Bitcoin is becoming more worth so that is really nice but it wont be that easy to earn some money with it because it takes time.
But you have to know that there will be more people that is having patience and wait for the right moment to sell it.

bitlancr

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Quote from: NUFCrichard on June 13, 2016, 02:11:24 AM

Quote from: talks_cheep on June 12, 2016, 10:12:45 AM

This price rise has almost NOTHING to do with the upcoming block halving.

It's because the Chinese are buying bitcoins in droves, that's causing the massive price increase, just like they did in late 2013.

http://www.zerohedge.com/news/2016-06-11/bitcoin-spikes-above-600-2-year-highs-sudden-massive-chinese-buying

The reason why Chinese are buying? Their currency, Yuan, is being devalued by their Communist Central Party Gov't.

In droves might be overplaying it a little! There are 1.36billion chinese people, the market cap of Bitcoin is 10.7billion, so it doesn't really figure that they are buying in droves! A single rich person still has more worth than all the Bitcoins in the world.

Maybe miners aren't selling, as they are waiting until after the halving. Or some people are slowing building a position in Bitcoin, but if droves start investing, then you can add a zero pretty easily to the price.

The volume was over 200M yesterday so somebody is selling. I guess he miners (whales) who have anticipated on this. They knew it probably and made sure to make the price higher so they could earn more. Because let's face it. Why else would the value go up 10 months for the halving?

NUFCrichard

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Quote from: talks_cheep on June 12, 2016, 10:12:45 AM

This price rise has almost NOTHING to do with the upcoming block halving.

It's because the Chinese are buying bitcoins in droves, that's causing the massive price increase, just like they did in late 2013.

http://www.zerohedge.com/news/2016-06-11/bitcoin-spikes-above-600-2-year-highs-sudden-massive-chinese-buying

The reason why Chinese are buying? Their currency, Yuan, is being devalued by their Communist Central Party Gov't.

In droves might be overplaying it a little! There are 1.36billion chinese people, the market cap of Bitcoin is 10.7billion, so it doesn't really figure that they are buying in droves! A single rich person still has more worth than all the Bitcoins in the world.

Maybe miners aren't selling, as they are waiting until after the halving. Or some people are slowing building a position in Bitcoin, but if droves start investing, then you can add a zero pretty easily to the price.

bajing

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Quote from: the_poet on June 12, 2016, 08:12:49 AM

$652 on CoinMarketCap! Shocked

I remember all those bears saying "halving was already priced in" when we were at $440...

I was shocked too seeing the price on the market has hit $680, halving is true can make the price goes high and as high as can than we can imagine.

fearlesscat10

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Quote from: harizen on June 12, 2016, 09:02:02 PM

Quote from: actmyname on June 12, 2016, 08:25:25 PM

Quote from: jaredboice on June 12, 2016, 07:56:59 PM

Quote from: talks_cheep on June 12, 2016, 09:38:01 AM

Too many ignorant people here on the forum, they don't know what's going on around the world, specifically China's economy. The recent price increase is NOT due to the upcoming halving which everyone and their grandmothers HAVE KNOWN since the beginning of the year or earlier. The reason why bitcoin price is increasing is because China started devaluing their currency, Yuan. The timing is unfortunate, or fortunate. I still believe the rise from 250 to 450 was due to the halving, remember how 435-450 had been stable? 450 to 650 is due to China. It's a great news since Chinese are the only ones able to ROCKET it to the moon, we may be looking at a brand new ATH. I had thought it would go to 900-999, but I may have to revise my expectations upwards.

We have also known about the 21 Million Bitcoin limit since 2009. So what's your point? Markets don't price things like that in the way that you think or else Bitcoin would still be worth a fraction of a penny.

What is the way that he thinks? From my point of view, all he's saying is that the Chinese Yuan is going down in value and thus to save their assets, many of the people are buying bitcoins which in turn drives the price up. What are we getting wrong here?

Well that's the really score for most of the people that the price increase was started due to halving. But you know with the thinking and mind set that price rise is due to halving, many people ride the trend and also start to accumulate coins. Speculations really a big factor.

Bitcoin price would be very, very different if people weren't allowed to talk about it. Speculation breeds FOMO. It's affect on the price is very significant especially in times like these when the halving is so near.

harizen

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Quote from: actmyname on June 12, 2016, 08:25:25 PM

Quote from: jaredboice on June 12, 2016, 07:56:59 PM

Quote from: talks_cheep on June 12, 2016, 09:38:01 AM

Too many ignorant people here on the forum, they don't know what's going on around the world, specifically China's economy. The recent price increase is NOT due to the upcoming halving which everyone and their grandmothers HAVE KNOWN since the beginning of the year or earlier. The reason why bitcoin price is increasing is because China started devaluing their currency, Yuan. The timing is unfortunate, or fortunate. I still believe the rise from 250 to 450 was due to the halving, remember how 435-450 had been stable? 450 to 650 is due to China. It's a great news since Chinese are the only ones able to ROCKET it to the moon, we may be looking at a brand new ATH. I had thought it would go to 900-999, but I may have to revise my expectations upwards.

We have also known about the 21 Million Bitcoin limit since 2009. So what's your point? Markets don't price things like that in the way that you think or else Bitcoin would still be worth a fraction of a penny.

What is the way that he thinks? From my point of view, all he's saying is that the Chinese Yuan is going down in value and thus to save their assets, many of the people are buying bitcoins which in turn drives the price up. What are we getting wrong here?

Well that's the really score for most of the people that the price increase was started due to halving. But you know with the thinking and mind set that price rise is due to halving, many people ride the trend and also start to accumulate coins. Speculations really a big factor.

DarkThrones

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Oops, my wallet exploded all over the place leaving this weird sticky residue everywhere. I can't wait to see this rally continue!

actmyname

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Spear the bees

Quote from: jaredboice on June 12, 2016, 07:56:59 PM

Quote from: talks_cheep on June 12, 2016, 09:38:01 AM

Too many ignorant people here on the forum, they don't know what's going on around the world, specifically China's economy. The recent price increase is NOT due to the upcoming halving which everyone and their grandmothers HAVE KNOWN since the beginning of the year or earlier. The reason why bitcoin price is increasing is because China started devaluing their currency, Yuan. The timing is unfortunate, or fortunate. I still believe the rise from 250 to 450 was due to the halving, remember how 435-450 had been stable? 450 to 650 is due to China. It's a great news since Chinese are the only ones able to ROCKET it to the moon, we may be looking at a brand new ATH. I had thought it would go to 900-999, but I may have to revise my expectations upwards.

We have also known about the 21 Million Bitcoin limit since 2009. So what's your point? Markets don't price things like that in the way that you think or else Bitcoin would still be worth a fraction of a penny.

What is the way that he thinks? From my point of view, all he's saying is that the Chinese Yuan is going down in value and thus to save their assets, many of the people are buying bitcoins which in turn drives the price up. What are we getting wrong here?

jaredboice

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Quote from: talks_cheep on June 12, 2016, 09:38:01 AM

Too many ignorant people here on the forum, they don't know what's going on around the world, specifically China's economy. The recent price increase is NOT due to the upcoming halving which everyone and their grandmothers HAVE KNOWN since the beginning of the year or earlier. The reason why bitcoin price is increasing is because China started devaluing their currency, Yuan. The timing is unfortunate, or fortunate. I still believe the rise from 250 to 450 was due to the halving, remember how 435-450 had been stable? 450 to 650 is due to China. It's a great news since Chinese are the only ones able to ROCKET it to the moon, we may be looking at a brand new ATH. I had thought it would go to 900-999, but I may have to revise my expectations upwards.

We have also known about the 21 Million Bitcoin limit since 2009. So what's your point? Markets don't price things like that in the way that you think or else Bitcoin would still be worth a fraction of a penny.

WaffleMaster

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Quote from: the_poet on June 12, 2016, 06:54:33 PM

Can't wait for all the mainstream media coverage that will start in the next hours...

And this time it's just not some artificial bubble. I do expect selling when halving occurs but this time Bitcoin is becoming A LOT harder to get because the supply is dwindling. Hopefully we stabilize at a huge price or if we do bounce down from halving sellers that we get to at least come back to around $700.

Cyaren

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Quote from: the_poet on June 12, 2016, 08:12:49 AM

$652 on CoinMarketCap! Shocked

I remember all those bears saying "halving was already priced in" when we were at $440...

Lol, yeah, bears are probably all so salty right now that they missed out on their share of the profits. They probably hanged onto their fiat and lost like 30% over the course of a month, lol.

IT's currently nearly $680... Man, I got some fiat that I wished I cashed in earlier.

the_poet

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Can't wait for all the mainstream media coverage that will start in the next hours...

actmyname

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Spear the bees

I was just gazing through the prices (as I do occasionally every week) and as soon as I saw 600+ I couldn't believe my eyes. I thought it was in a different currency, but no. $670+ USD.

Incredible.

Quote from: talks_cheep on June 12, 2016, 10:12:45 AM

This price rise has almost NOTHING to do with the upcoming block halving.

It's because the Chinese are buying bitcoins in droves, that's causing the massive price increase, just like they did in late 2013.

http://www.zerohedge.com/news/2016-06-11/bitcoin-spikes-above-600-2-year-highs-sudden-massive-chinese-buying

The reason why Chinese are buying? Their currency, Yuan, is being devalued by their Communist Central Party Gov't.

Perhaps there will be a large dump coming after the currency devaluation stops. After all, I don't expect that they'll be able to use all their bitcoins Wink

Quote from: 2c0de on June 12, 2016, 08:35:14 AM

Holy shit I'm mining with Laptop, it's profitable again when price reaches 9 999 999 999 $

SYSTEM IS OVER HEATED

Don't mine with your laptop now. You spend so much money on electricity and get pretty much nothing in return.

angaper

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I lost my Internet connecting last night, and when I recovered it today early I get shocked after watching coinmarketcap. com, I was convinced that something was bad again with Internet. But it was for real. So I regretted by spending some coins at $550.

bit1

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Considering that BTC began to be rare in few days anything can happen.

Ahab_Hunter_of_BearWhale

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Quote from: BillyBobZorton on June 12, 2016, 09:30:33 AM

Quote from: the_poet on June 12, 2016, 08:12:49 AM

$652 on CoinMarketCap! Shocked

I remember all those bears saying "halving was already priced in" when we were at $440...

Lolll yeah "halving was already priced in" is a classic in FUDster failures. All those people must be hiding under a rock now, or creating new alts to talk shit so they don't look like idiots on their real accounts.

Trolls be creating thier own alts that are as sh$tty as possible so that they have something besmirch that is predictably trollable, fail troll is fail troll hahah

The more bitcoin goes up the more the Chinese buy, you cannot lose! Cheesy

harizen

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Quote from: Arrakeen on June 12, 2016, 12:42:57 PM

For how long is this steady increase supposed to last? Days? Weeks? Or will bitcoin's price drop back under 500 in a matter of hours? I'm not too familiar with bitcoin's market against fiat, so thanks for any info from a btc trader

Even an expert and really a good trader definitely don't know the answer because if they does then there's no such thing as active fluctuations now.

In general, speculations as always is the answer you will get.

So in here, just take the price watch closely so you don't missed whatever will happened.

glendall

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I'm a bit bummed. Changed my strategy from holding 'til over 600 to trying to play the 'buy the dip' game over the last week of hovering around 580. Decide to change my strategy and literally 6 hours later boom. Ah well. Bitcoin is awesome. 650 again blows my mind.

Arrakeen

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For how long is this steady increase supposed to last? Days? Weeks? Or will bitcoin's price drop back under 500 in a matter of hours? I'm not too familiar with bitcoin's market against fiat, so thanks for any info from a btc trader

Topic: $652 - my laptop just exploded! (Read 2441 times)