Bitcoin breaks $5,000 mark

Sabre0001 · 12-10-2017 10:16am #1

Reuters Article

That's pretty incredible. So how high can it go? And when will it all come tumbling down? What's driving the value so high in such a short period of time? Is it linked to more splits coming down the line?

Bitcoin, the original and still the biggest cryptocurrency, has been on a tear recently, rallying nearly 75 percent in barely a month.

It has chalked up a more than fivefold increase in price since the start of the year.

sbsquarepants · 12-10-2017 10:25am

Arghh - I was going to buy it at under a hundred but didn't, then when it hit a thousand I thought I'm definitely too late to bother - what to do, what to do:mad::mad::mad:

howamidifferent · 12-10-2017 10:27am

sbsquarepants wrote: »

Arghh - I was going to buy it at under a hundred but didn't, then when it hit a thousand I thought I'm definitely too late to bother - what to do, what to do:mad::mad::mad:

Stock market is due a massive implosion....money will flow into crypto then. Jump in now...

pro_gnostic_8 · 12-10-2017 11:21am

sbsquarepants wrote: »

Arghh - I was going to buy it at under a hundred but didn't, then when it hit a thousand I thought I'm definitely too late to bother

Bought fifty coins at $30 each in February 2013, sold them six weeks later when the price hit $100. Believed that the price would never ever go higher, and was delighted with the gain.
Later that year in December, I bought back in at $630.
Lesson learnt.

Tar.Aldarion · 12-10-2017 12:01pm

I have never bought any myself, I was given €100 of it as payment a couple years ago (they probably thought it would go down and begged me to accept payment in bitcoin) and well that's worth a lot more now! I've just left it be.

machiavellianme · 12-10-2017 1:20pm

pro_gnostic_8 wrote: »

Bought fifty coins at $30 each in February 2013, sold them six weeks later when the price hit $100. Believed that the price would never ever go higher, and was delighted with the gain.
Later that year in December, I bought back in at $630.
Lesson learnt.

Nice... On both buy in points.

asteroids over berlin · 12-10-2017 1:46pm

Really a significant milestone for me, i am not sure it will tumble down now, sure there may be a retraction but the benchmark has been set. It will always be the daddy.

ZeroThreat · 12-10-2017 2:27pm

I wonder if ethereum will ever move far beyond the $300 range, or has it seen its best days and is doomed to a long slow decline?

crushproof · 12-10-2017 2:30pm

Absolutely fascinating that it has reached 5,000. What a journey and a what a beast! I really wish I bit the bullet all those times over the past few years but I was too chicken and afraid of it!! Heck even when it dropped to 3500 a couple of weeks ago I should have bought! Argh!
Only got in recently so a nice little profit but ETH and other ALTs are dragging me down.

grazinggreen · 12-10-2017 6:06pm

sbsquarepants wrote: »

Arghh - I was going to buy it at under a hundred but didn't, then when it hit a thousand I thought I'm definitely too late to bother - what to do, what to do:mad::mad::mad:

Buy the dips! We're only just starting to see institutional money come in to the market now so its certainly not too late IMO.

stevedublin · 12-10-2017 6:09pm

Litecoin following - above €50 now

ToxicPaddy · 12-10-2017 6:51pm

Its absolutely unbelievable how it's climbed this year.. I tip my hat to anyone who jumped on the bandwagon a few years ago and hung on for the ride. You guys must be smiling all the way to the bank

GarIT · 12-10-2017 6:55pm

ZeroThreat wrote: »

I wonder if ethereum will ever move far beyond the $300 range, or has it seen its best days and is doomed to a long slow decline?

There have been security holes found in the Ethereum code. That is holding it back a lot.

Den14 · 12-10-2017 6:57pm

Where's the best place to buy Bitcoin?

machiavellianme · 12-10-2017 7:36pm

stevedublin wrote: »

Litecoin following - above €50 now

Not anymore. Was briefly back in the green on it.

ED E · 12-10-2017 7:39pm

Sabre0001 wrote: »

So how high can it go?

Hopefully high enough so I can cash out for a Tesla (good bit off yet)

TheQuietBeatle · 12-10-2017 7:45pm

I bought @ 800 and at the time thought I was too late. Some people are thinking NOW is too late. It's not. It will keep rising over the next 25 years to amazing levels.

Thargor · 12-10-2017 8:16pm

GarIT wrote: »

There have been security holes found in the Ethereum code. That is holding it back a lot.

Such as? Are you talking about the wallet hacks a while back? That was a vunerability in the code written by the people who built the wallets, it was nothing to do with the Ethereum blockchain...

Ciaranimo · 13-10-2017 9:50am

So..... is it too late to buy in? New to Crypto and I have been learning as much as I could and been waiting for another little dip back down towards 3k over the last couple weeks......but that does not seem to be happening! Quite the opposite in fact

What are peoples thoughts on buying in now? I plan on buying for the long term and not day trading/ swing trading.

Any thoughts appreciated!

Sabre0001 · 13-10-2017 10:00am

TheQuietBeatle wrote: »

I bought @ 800 and at the time thought I was too late. Some people are thinking NOW is too late. It's not. It will keep rising over the next 25 years to amazing levels.

Is that because the people who currently have it keep telling the people who don't to buy?

The wise adage is not to invest what you can't afford to lose, so I'm out, but I do wonder where it'll level off or fall. It is fascinating...

Bitcoin · 13-10-2017 11:06am

A beautiful morning for investors. Technicals very strong on this move, we could have a good bit to go on this move yet.

banie01 · 13-10-2017 2:53pm

I don't hold any Crypto directly but I do hold a Crypto ETN that I bought into in September.
I'm currently sitting on a 30% profit on that since early Sept, and am happy to let it sit and hopefully accumulate some more value.

Shauny2010 · 14-10-2017 5:18pm

Ciaranimo wrote: »

So..... is it too late to buy in? New to Crypto and I have been learning as much as I could and been waiting for another little dip back down towards 3k over the last couple weeks......but that does not seem to be happening! Quite the opposite in fact

What are peoples thoughts on buying in now? I plan on buying for the long term and not day trading/ swing trading.

Any thoughts appreciated!

I used to think that Bitcoin would hit $100,000 in the next 20-30 years time, now I`m convinced it will get there within the next 3 years

ToxicPaddy · 14-10-2017 5:34pm

banie01 wrote: »

I don't hold any Crypto directly but I do hold a Crypto ETN that I bought into in September.
I'm currently sitting on a 30% profit on that since early Sept, and am happy to let it sit and hopefully accumulate some more value.

What ETN did you buy?

ZeroThreat · 14-10-2017 6:40pm

Shauny2010 wrote: »

I used to think that Bitcoin would hit $100,000 in the next 20-30 years time, now I`m convinced it will get there within the next 3 years

Wonder if that happened would it destroy the next few largest cryptos, or are they more likely to scale up alongside btc?

banie01 · 14-10-2017 7:03pm

ToxicPaddy wrote: »

What ETN did you buy?

ISIN Code: SE0007525332
There are 2 options available, 1 denominated in € and the other in Kroner.
It is issued by XBT Provider AB and traded on Nasdaq OMX.
Fact sheet is available at https://xbtprovider.com/fact_sheet_d...t_final_a4.pdf
Annual fee is 2.5% calculated on a daily basis.
As the fact sheet lists the assets of the fund are held entirely in BTC it may useful for some to allow BTC access/exposure via their "normal" broker account

BorneTobyWilde · 14-10-2017 7:08pm

Someone explain this to me.
If one bitcoin is worth 5000$ then how to I buy something for a dollar. Is there different coins at different values

BorneTobyWilde · 14-10-2017 7:11pm

Feels like fantasy money that will never be used

Tar.Aldarion · 14-10-2017 7:32pm

BorneTobyWilde wrote: »

Someone explain this to me.
If one bitcoin is worth 5000$ then how to I buy something for a dollar. Is there different coins at different values

You can use a fraction of a coin to buy somethign, so can buy something for 1 dollar if you want for 0.00017 bitcoin, doesn't ahve the same limitation regular money has in that sense, can be split up more.

Shauny2010 · 14-10-2017 7:38pm

ZeroThreat wrote: »

Wonder if that happened would it destroy the next few largest cryptos, or are they more likely to scale up alongside btc?

Might not destroy them, just that they would become less relevant. Ethereum is the most vulnerable, their are developers working on smart contract functionality to Bitcoin, if that happens then its bye bye Ether.
Ripple is just a centralized Bank bullsh1te coin which they can use to at anytime to remove all the investor funds
Litecoin is Bitcoins small Brother/ guinea pig which sums it up really.
Dash is another Centralized coin but could get adopted by Paypal.
Nem, monero and Neo are superior technology/ alternative tech but the developers, money and population are all backing Bitcoin at the end of the day

ZeroThreat · 14-10-2017 8:58pm

Shauny2010 wrote: »

Might not destroy them, just that they would become less relevant. Ethereum is the most vulnerable, their are developers working on smart contract functionality to Bitcoin, if that happens then its bye bye Ether.
Ripple is just a centralized Bank bullsh1te coin which they can use to at anytime to remove all the investor funds
Litecoin is Bitcoins small Brother/ guinea pig which sums it up really.
Dash is another Centralized coin but could get adopted by Paypal.
Nem, monero and Neo are superior technology/ alternative tech but the developers, money and population are all backing Bitcoin at the end of the day

as values currently stand i have about 40% BTC, 20% ETH, 15% LTC, 10% NEO and the rest split between ripple, omg, cvc, ark and vertcoin.

only have 3,000 ripple and I'd probably dump if it reached $.50, don't really have any long term interest in hanging on to it.

Bitcoin breaks $5,000 mark

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