Bitcoin breaks $3000 - Sensationalist Headlines

I just noticed this happening, I don't have a particular news source. [t]http://i.imgur.com/rbMIDk0.png[/t] [URL]https://www.coindesk.com/price/[/URL]

Does anybody even use bitcoin as a legitimate currency, or is it just people buying and selling bitcoin itself because of the circular "valuable because it's valuable" process? The only thing separating bitcoin from conventional currency might be the fact that one is supported by governments and the other isn't, but the whole thing still feels bizarre to me because it's so far removed from the original idea of it just being used as an alternative currency. I guess I should rephrase that as "how much of bitcoin is it being used for its intended purpose, and how much it is merely bought and sold because of its massive price". Bit of a stupid question overall but I'm still curious. I know a lot of places take it but it seems to have spiraled out of control for that being practical for regular users.

not the first time it's gone over $3,000 and it won't be the last time either

Fishy, literal-black-market sites use it, I believe? Along with legitimate sites.

It's useful for buying VPNs or seedboxes without tying them to you through your payment method.

as much fun as doubling my money in a month sounds i'm not gonna sink 3 grand into bitcoins and lose most of it when it inevitably crashes... again

[QUOTE=Reds;52540858]Does anybody even use bitcoin as a legitimate currency, or is it just people buying and selling bitcoin itself because of the circular "valuable because it's valuable" process?[/QUOTE] The entire country of Japan Supports bitcoin [url]https://www.coindesk.com/japan-bitcoin-law-effect-tomorrow/[/url]

a sharp bounce back after a sharp decline sometimes means a """crash""" is about to happen don't be surprised if bitcoins are only worth $1k for the next year straight, starting next month but who knows what will REALLY happen

[QUOTE=Reds;52540858]Does anybody even use bitcoin as a legitimate currency, or is it just people buying and selling bitcoin itself because of the circular "valuable because it's valuable" process? The only thing separating bitcoin from conventional currency might be the fact that one is supported by governments and the other isn't, but the whole thing still feels bizarre to me because it's so far removed from the original idea of it just being used as an alternative currency. I guess I should rephrase that as "how much of bitcoin is it being used for its intended purpose, and how much it is merely bought and sold because of its massive price". Bit of a stupid question overall but I'm still curious. I know a lot of places take it but it seems to have spiraled out of control for that being practical for regular users.[/QUOTE] I actually use btc for concrete referencable time dating. I think I have bought with bitcoin very rarely. Many I know use as currency all the time.

figures immediately after I sell it climbs 200

Welp, my cousin-in-law is even richer now. He won't even mention how much he has made off Bitcoin

[QUOTE=YOMIURA;52540955]I actually use btc for concrete referencable time dating.[/QUOTE] Could you re-phrase? What do you mean by time dating?

[QUOTE=ferrus;52540997]Could you re-phrase? What do you mean by time dating?[/QUOTE] If I need to prove for certain that I complete action at specific time, I use my BTC. You do not need any monetary worth of it to do, so it is a good system, even having no bitcoin.

[QUOTE=meppers;52540943]a sharp bounce back after a sharp decline sometimes means a """crash""" is about to happen don't be surprised if bitcoins are only worth $1k for the next year straight, starting next month but who knows what will REALLY happen[/QUOTE] The sharp decline was most likely due to UASF and the fork, which are events that have come and gone now. This is probably just a return to mean after that scare, but still an overcompensation and will probably settle down at 3k or something.

my 150 i put in for btc has been going up or down but this is the closest day its been $1 behind what i bought it for

[QUOTE=glitchvid;52540873]It's useful for buying VPNs or seedboxes without tying them to you through your payment method.[/QUOTE] bitcoin isn't anonymous

[QUOTE=waylander;52541176]bitcoin isn't anonymous[/QUOTE] pseudonymous is the correct word to use Much like I know anyone here as their handle, not their real name. Same goes for bitcoin addresses. It's why Satoshi recommended to use a different address for every transaction. But that's if you don't want to be identified

[QUOTE=waylander;52541176]bitcoin isn't anonymous[/QUOTE] It's a lot better than using a check or credit card, since those link directly to an identity. Plus it's trivial to mix bitcoins, making who actually sent an amount impossible to discern.

My jealousy is through the roof.

[QUOTE=meppers;52540943]a sharp bounce back after a sharp decline sometimes means a """crash""" is about to happen don't be surprised if bitcoins are only worth $1k for the next year straight, starting next month but who knows what will REALLY happen[/QUOTE] Bitcoin has been steadily increasing over the last year, but this jump is due to a change in the blockchain process to Segwit2X. People are really rallying behind this new method, and are dumping the old one hard (which is now called Bitcoin Cash.)

i remember a facepunch thread someone made on bitcoin in like 2010, and we were mining them with our GPUs. I ran mine for like a week straight and got like 8 bitcoins back when they were worth probably $5 each. Then I formatted my harddrive :saddowns: [editline]5th August 2017[/editline] But I think breaking $3100 is huge for BTC. I can see it going past $4000 by the end of the month because of this. Of course correcting itself after that, but this is just the volatile nature of bitcoin.

[QUOTE=skynrdfan3;52541485]i remember a facepunch thread someone made on bitcoin in like 2010, and we were mining them with our GPUs. I ran mine for like a week straight and got like 8 bitcoins back when they were worth probably $5 each. Then I formatted my harddrive :saddowns: [editline]5th August 2017[/editline] But I think breaking $3100 is huge for BTC. I can see it going past $4000 by the end of the month because of this. Of course correcting itself after that, but this is just the volatile nature of bitcoin.[/QUOTE] weren't someone here bought pizza with a ton of bitcoins

[QUOTE=jason3232;52541570]weren't someone here bought pizza with a ton of bitcoins[/QUOTE] nobody could have predicted a 10x boom over the course of 2 weeks tbh

[QUOTE=waylander;52541176]bitcoin isn't anonymous[/QUOTE] you can launder bitcoin so easily it might as well be

[QUOTE=Jetamo;52540863]Fishy, literal-black-market sites use it, I believe? Along with legitimate sites.[/QUOTE] You can rent a raspberry pi server from thepiratebay using bitcoins

People buy houses with it: "Man Accidentally Makes $1.3 Million Buying a House With Bitcoin" - he could just as easily have lost $1.3m though given that level of volatility [URL]https://bitcoinmagazine.com/articles/man-accidentally-makes-13-million-buying-house-bitcoin/[/URL]

[QUOTE=ROFLBURGER;52541314]My jealousy is through the roof.[/QUOTE] never too late to get into trading

some day an article about bitcoin is gonna come up and I'm gonna die of a heart attack then and there. that's 5.4 million dollars I missed out on over a fuckin coin toss

I remember asking my parents for $50 to invest in bitcoin back in early 2013, around that time it was 6 BTC to the dollar. When it struck $300 months later, I realized that I should have lied and said I wanted to buy a game from Steam. Being to young to have a bank account during that time still chews at me.

[QUOTE=glitchvid;52540873]It's useful for buying VPNs or seedboxes without tying them to you through your payment method.[/QUOTE] Just buy a visa gift card with cash? Way easier.